LendingTree Business Loans Review

Originally founded in 1996, Lending Tree has become one of the largest and most successful lending marketplaces on the internet. For customers seeking a specific form of loan or financing, LendingTree facilitates an instant comparison of several providers. The company has established a network of reputable and trusted lenders in the United States, offering a range of credit and financing solutions. To date, LendingTree has helped customers fulfill over 65 million loan applications. Although LendingTree is not a direct lender, customers can narrow down the available choices and select the right loan to match their needs.

Suitable for?

LendingTree hosts a diverse marketplace for the best business loan lenders, offering a variety of financing solutions that include equipment and receivables financing, as well as small business loans with different terms. Additionally, the company’s range of loan terms and repayment options makes it an excellent alternative for businesses with unique requirements or that experience irregular cash flows. For newer firms, LendingTree offers educational resources and articles that highlight best borrowing practices and responsible debt repayment. Overall, LendingTree is an excellent solution for businesses seeking to grow, but who prefer to have more flexible financing alternatives at their disposal.

Loan Features

The LendingTree platform offers traditional business loans, SBA loans, different forms of financing, and business lines of credit. LendingTree stands out for its effective matching system, which involves a brief application process that provides up to four results for each search conducted by a borrower. For a more flexible alternative, the company’s partners meet a range of needs thanks to a number of loan terms and repayment periods. LendingTree offers a vast selection of educational resources to all its customers. Visitors to LendingTree’s website can view a selection of articles ranging from the basics of financing to small business best practices. Customers can also access videos, blogs, and other useful materials. LendingTree has a no-fee policy with no direct charges to borrowers who find a loan provider through the marketplace.

Some highlights from LendingTree:

• A network of reliable lending partners
• Up to $500,000 in financing
• Instant matches returned after a fast and straightforward application
• An outstanding range of financing alternatives
• An extensive educational center full of helpful resources
• A review of up to four matches for loans and financing
• LendingTree does not charge any fees, and no personal guarantee is required

The Application Process

You can get started with LendingTree in just a few clicks. The company requests that customers complete a basic questionnaire to initiate the matching process. You will answer questions related to your company’s financial stability and other similar information. LendingTree does not originate the loans; therefore, the requirements for approval vary from lender to lender. However, customers can expedite the process by having the following documentation at hand when applying:

• A business license
• Previous bank statements
• A recent balance sheet
• Legal documents regarding firm ownership
• Profit/loss statements
• Personal and business tax returns
• A business plan (in some cases)
• Any documentation on outstanding debt

Specific requirements for credit scores, liquidity, and time in business vary among loan providers, but customers can be prequalified and matched without the need for extensive documentation at the outset. When the initial application is complete, LendingTree will automatically display at least four matches a customer can choose from. Once borrowers find a loan provider that matches their needs, they proceed to close the terms directly with their chosen lender.

Loan Terms – Loans for Specific Needs

LendingTree stands out from its competitors in terms of the extensive choice it offers to prospective borrowers. The company’s extensive partner network provides various types of business financing options for its customers.

• Small Business Administration (SBA) loans are backed by the federal government and extended by local banks or financial services providers.
• Long or short-term loans offer more traditional financing with loan terms ranging from one month to 10 years.
• Business lines of credit provide companies with a set amount of credit that they can draw upon flexibly as needed.
• Working capital loans cover everyday operational expenses and are commonly used to bridge shortfalls or gaps in cash flow.
• Equipment financing is used to rent, lease, or purchase new equipment.
• Accounts receivable financing works similarly to invoice factoring, allowing borrowers to use outstanding invoices as collateral for short-term financing that can be repaid as soon as the invoices are settled.

LendingTree’s impressive range of loan alternatives is matched by the loan amounts offered by in-network partners. Customers are approved for loans and financing of up to $500,000, although most customers will not require such a substantial amount.

Since they are not a lender, LendingTree does not include information on APRs, interest rates, or other specific loan terms.

Repayment Terms

LendingTree’s partner network offers customers a wide range of loan durations. Traditional loans through LendingTree have term lengths that stretch from as little as three months to 10 years. Some lenders may offer longer terms, while other financing options available through LendingTree feature much shorter repayment terms. Lines of credit and receivables financing, for example, may have a payment window as short as one month. However, LendingTree does not list this information directly on its site, as the company does not originate any of the loans offered by partners. Final repayment terms are agreed upon directly between the borrower and the chosen lender.

How Safe Is It?

As a marketplace, LendingTree collects some basic information from customers to provide a better service. The company shares some of this data with partners in its network to expedite the approval and lending process. However, LendingTree has transparent data collection practices and offers customers the ability to opt out of certain activities. The company is committed to ensuring the security and confidentiality of its borrowers' information. LendingTree employs robust encryption protocols for transmitting and storing data, and adheres to industry-standard measures to protect its data centers and servers from malicious attacks.

Help & Support

Customers can contact LendingTree via an email form on their website or by calling a toll-free number. The company’s service center is available from Monday to Thursday, 8:00 AM to 9:00 PM, and Fridays, 8:00 AM to 8:00 PM, with Saturday hours from 10:00 AM to 7:00 PM (all times are Eastern Standard Time). In our research, we found that staff members were knowledgeable in their field and able to answer most of our pressing questions with ease. Email support takes slightly longer, but our queries received responses in as little as one business day. LendingTree also has an informative FAQ section and an extensive educational center.

Summary

Business borrowers can take advantage of LendingTree’s network of lenders to find the appropriate financing solution. The platform offers a range of financing alternatives from traditional loans to specialty options such as SBA loans and equipment financing. Customers can also benefit from flexible repayment terms and amounts. A straightforward application and matching process enables businesses to transition from shopping to rapid funding. Although LendingTree is not a direct lender, it has used its strategic position between borrowers and lenders to successfully connect companies to the right financing choice.

Physical Address

LendingTree, LLC

11115 Rushmore Drive

Charlotte, NC

28277

AI was utilized in the creation of this content, alongside human validation and proofreading.