FREE Franchise Guide!
2023 Franchise 500 Rank
N/R Ranked #143 last year
See the Full List
Initial investment
$63K - $117K
Units as of 2021
94 123.8% over 3 years

For one reason or another, small businesses often need funding. However, it can be a challenge to source funds from banks or other financial institutions. Lendio was formed to fill this gap by saving small businesses, one loan at a time. 

By using Lendio, business owners usually have access to dozens of lenders and assistance in picking the best one for their company. 

Lendio was founded in 2011 by Brock Blake and Trent Miskin and began franchising in 2016. Since then, it has grown to over 60 franchises located throughout the United States.

Why You May Want to Start a Lendio Franchise

Providing support and loans to small firms is a necessity for other businesses. As a Lendio franchisee, you could play your part in fueling the American dream. Lendio has made a big impact, helping small businesses gain more than $10 billion in funding from lenders worldwide. It has facilitated more than 300,000 loans. Lendio is about helping small business enterprises achieve loans, and they are built on speed, trust, and finding the best loan options.

If you want to reach big goals with your business, opening a Lendio franchise may be the right decision for you. They would offer you the chance to join one of America’s largest small business loan businesses. 

You might also help small business owners get a Paycheck Protection Program (PPP loan) application through Lendio. PPP loans generally require no collateral and the small business loan status and requirements don't apply to them. Many franchisees find this helpful, as Lendio is not a lender but a loan marketplace, matching loan applicants with lenders. Since interactions happen online, they don't usually require a physical storefront.

Lendio is a trusted and award-winning company. A large number of small business owners are not able to get funds from banks, so Lendio franchisees play an important role in helping loan small businessowners.

What Might Make Lendio Franchise a Good Choice?

To be a part of the Lendio team, you should be financially ready for an initial investment made up of a franchise fee and other startup costs. You’ll want to make sure you have enough capital available to cover ongoing fees, as well. These ongoing fees will include advertising fees, royalty fees, and potential renewal fees. It may be a good idea to reach out to a financial advisor or attorney to ensure that you have the necessary financial stability to open and operate a Lendio franchise. 

In addition to the capital requirement, you'll want to have a passion for building a business, sales, networking, and business management skills. 

You should also understand the Lendio mission and the Franchise Disclosure Document. 

How Do You Open a Lendio Franchise?

Lendio offers an opportunity to operate a well-known franchise that's revolutionizing small business lending. However, you should check for availability in the U.S. location you're interested in, as there may be some territories that are unavailable. 

To start off, review the qualifications and submit your application. During the process, you'll usually be able to attend the Lendio franchise webinar. This should give you the chance to take a deep dive to learn more about the model, the application process, and how you could own this business lending franchise. 

The Lendio team generally shares key information and the steps to take. Typically, they hold an evaluation of the opportunity with the franchise recruitment director. Franchisees usually undergo a final review and approval, as well. Finally, after a bit of training, you can launch your Lendio franchise.

Find Your Perfect Franchise

Company Overview

About Lendio

Related Categories
Business Financial Services
Founded
2011
Parent Company
Lendio Inc.
Leadership
Brock Blake, CEO
Corporate Address
4100 Chapel Ridge Rd., #500
Lehi, UT 84043

Business Overview

Franchising Since
2016 (7 years)
# of employees at HQ
550
Where seeking

This company is offering new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming

# of Units
94 (as of 2021)

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Lendio franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$46,000
Initial Investment
$63,150 - $117,100
Cash Requirement
$55,000 - $65,000
Veteran Incentives
10% off franchise fee
Ad Royalty Fee
2%
Term of Agreement
5 years
Is franchise term renewable?
Yes
Take Our Free Franchise Quiz!

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
Lendio has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

Classroom Training
40 hours
Ongoing Support
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
Yes
Can this franchise be run part time?
No
Are exclusive territories available?
No
Take our quick quiz to find your ideal franchise

Franchise 500 Ranking History

Compare where Lendio landed on this year’s Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where Lendio ranked on other franchise lists? Find out below.

Want to stay updated on the latest franchise news?

Never miss a beat when you sign up to receive our newsletter.

We care about the protection of your data. Read our Privacy Policy

Related Franchises

Are you eager to see what else is out there? Browse franchises that are similar to Lendio.

Rumble

Boxing fitness studios

ClaimTek Systems

Medical billing and practice management solutions

H&R Block

Tax preparation, electronic filing

Related Franchise Content

Catch up on the latest franchise news, trends, and more.

5 Tips for First-Time IFA Convention Attendees

Get ready for the franchising industry's biggest trade show event of the year.

Trevor Rappleye

How Franchisees Can Use Technology to Change Consumer Behavior

Here's how franchisees can tap into consumer behaviors using strategic messaging and offers that speak to clients wants and needs.

Stephen Gould

Which Franchise Is Right for You? Start By Evaluating Your Goals.

How do you narrow thousands of possibilities down to the one perfect franchise for you?

The Top 9 Coffee Franchises for 2023

These concepts continually rank as the top franchises in the coffee and tea industry.

Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New 'Hall of Fame'

Looking to buy an A-list franchise? These brands have been the strongest for the longest.

The Top 12 Pet Franchises You Can Buy in 2023

From pet supplies to behavioral training, explore the best pet-centric businesses on the market.

Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company’s legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022