Frequently asked questions
38 articles
Is Lendio a direct lender? Is Lendio a bank?
Does Lendio offer grants?
What is the difference between a long-term and short-term loan?
What is the difference between a small business administration (SBA) loan and a small business loan?
What is the difference between personal and business bank accounts?
What’s an Employer Identification Number (EIN)? Do I need one?
What is the difference between a personal and business credit score?
What is underwriting?
What is the annual percentage rate (APR)?
What is loan stacking?
What is IRS Form 1065?
What is a Schedule K-1?
What is a working capital advance and how does it work?
What is a corporate credit card?
What is a small business loan?
What is a sole proprietorship?
What is a limited liability company (LLC)?
What is a legal partnership?
What is a corporation?
What is a personal credit score?
What is a business credit score?
What is a DBA?
Can I still apply for a PPP loan in 2024?
Is Lendio Legit?
What happens if I miss a payment or default on the financing?
If I accept an option in my account, do I receive the funds immediately?
Who is actually lending me money?
What is Lendio’s relationship with Meow?
Who is actually lending me money?
How do I establish good business credit?
My Funding Expert advised me to reapply for an SBA loan in 2-3 months. What are the next steps?
What is my current funding balance? How can I see it?
Can I get another loan?
What's the difference between a refinance and a renewal?
I've had this financing for a few months; can I renew it?
When it's time for renewal, do I work with the funder or do I contact Lendio?
If I was approved for funding and didn't take the full amount at the start, can I still access the difference later?
Can I make adjustments to my payment schedule?