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Lendio ERC Review

Reviews 21,000
Lendio ERC
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Lendio ERC
Lendio ERC
Reviews 21,000
Bestmoney Staff
Sep. 14, 2023
4 min read
BestMoney Staff
Lendio ERC Summary
Lendio’s Employee Retention Credit (ERC) program simplifies the claiming of ERC refunds for small businesses affected by COVID-19. Lendio will help you decide if you qualify for the ERC—worth up to $26,000 per employee—and connect you with a team of tax experts to guide you through the claim process. You provide the information and the team will handle most of the work for you, including filing all necessary paperwork until you get your funds.


  • Tax experts help with preparation and filing of paperwork
  • Competitive rate
  • Only pay when you get your refund


  • No advance payment options
  • Filing can take up to 25 days

Lendio ERC at a glance

Editorial score

Online experience

Offers help with ERC tax credit filing

Customer services and support

Multiple ways of reaching lender, wide range of hours

Variety of loan types


Loan amount range

Get up to $26,000 in tax credits per W-2 employee from 2020/21 payroll tax filings


Small businesses that were impacted by Covid-19 but retained employees

Lendio ERC Lendio ERC Visit Site


Lendio is an online loan marketplace whose primary service is connecting small businesses with lenders to help them access funding. Following the introduction of the Employee Retention Credit (ERC), also called the Employee Retention Tax Credit (ERC), the company started offering a new service to help small businesses access it more easily.

The ERC is a tax refund available to firms that were impacted by the pandemic, but kept and continued to pay some or all of their employees. Businesses with annual gross receipts under $1 million that started after February 15, 2020, can qualify also.

The ERC is retroactive, meaning you can apply for it now in 2023.  Eligible businesses can get up to $26,000 for each employee retained in 2020 and the first three quarters of 2021.

When you apply for ERC through Lendio, the company will pair you with one of their expert ERC partners, who’ll guide you through every step of the application process until you get your money.

Why Lendio is Good for Your Business

The IRS guidelines for claiming the ERC are complex, spanning over 200 pages of tax code. If your CPA or tax preparer lacks experience with this tax credit, they may not know how to maximize it for your business.

Lendio’s ERC partners are tax professionals who know the ins and outs of the ERC program. They have hundreds of millions of claimed ERC credits under their belts and understand what it takes to file for this refund successfully. Working with these professionals puts you in the best position to secure the full amount you’re entitled to.

There are no other hidden fees or charges, and you’ll only pay after the IRS processes your refund.

Application Process

To start your application, head over to the company’s website and complete a questionnaire to check if you’re eligible for ERC.

To qualify for this tax credit, you generally need to meet these conditions:

You paid full-time or part-time wages for W-2 employees during 2020-2021 (not family members or owners)


Your gross revenue dropped in 2020 or 2021 compared to the same quarter in 2019.


Government orders such as lockdowns negatively affected your operations, either in terms of hours or service capacity.

And / OR

Your business started operating after Feb 15, 2020

Next, you’ll complete Lendio’s ERC online application experience that will walk you through all of the information necessary to qualify for the ERC. In the event you need extra help, Lendio has a team of support staff standing by to answer your questions. . Lendio will then conduct an evaluation to confirm  everything required for evaluation by tax professionals has been included. This might include a phone consultation with one of its specialists. 

Once your application is complete, Lendio will connect you with a team of tax professionals from one of its ERC partners. The team will help you gather any additional necessary documentation and identify opportunities for maximizing the credit. They’ll then prepare and file the relevant tax forms on your behalf. According to Lendio, most applications are filed within 25 days.

After filing, the team will manage all necessary follow-ups and keep you updated until you get your refund. You’ll receive your check from the IRS within three to six months of filing.

How Much Can You Get?

For the tax year 2020, qualifying small businesses can claim up to 50% of the first $10,000 in wages per employee or a maximum of $5,000 per employee. And for the first three quarters of 2021, eligible businesses can claim up to 70% of the first $10,000 in wages per quarter, which adds up to a maximum of $21,000 per employee.

So, in total, you could potentially get up to $26,000 in tax credits per W-2 employee for the whole of 2020 and three quarters of 2021. Lendio says that, on average, small businesses that apply through its platform receive an ERC worth over $70,000,  businesses that qualify typically receive around $7,000 per employee out of the possible $26,000.

You can estimate how much tax credit your business could qualify for by using the ERC calculator on Lendio’s website.

Repayment Terms

The ERC refund is a tax credit, not a loan, so you won't have to repay it. Once the IRS processes your refund, Lendio and its processing partner will be paid a fee from your refund. The remainder is yours to use as you see fit. 

How Safe Is It?

Lendio employs extensive security measures, including bank-level encryption and Secure Sockets Layer (SSL) technology, to ensure all personal and financial information you submit is safe and secure.

Customer reviews of the platform are mainly positive. On Trustpilot, for example, Lendio has 4.8 stars out of a possible five. Users report that the service is helpful and transparent and that customer representatives are competent, professional, and pleasant to work with. 

Lendio also has an accredited Better Business Bureau (BBB) profile with an A+ rating, the highest possible on the platform. A top letter rating reflects that the BBB has confidence a business is operating in a trustworthy manner and will make a good faith effort to address any customer complaints filed with the organization.

Help and Support

Lendio offers several channels of customer support, including phone calls from 7:30 am – 4:00 pm MT Monday-Friday, and an online message form. You can also engage with the company via various social media platforms, including Facebook, Instagram, Twitter, and LinkedIn. 

For quick answers to a wide range of ERC-related questions, you can visit a special ERC FAQs page on Lendio’s website.

Online customer feedback on the company’s reachability and response times is mixed. A few users report struggling to get in touch with Lendio or receiving a response. Many, however, say they were able to speak with a company rep or get a response to their issue fast.

Phone: 855-853-6346


If the COVID-19 pandemic impacted your business, Lendio can help you get some relief in the form of the Employee Retention Credit (ERC). The company has created a user-friendly platform to help you determine your eligibility and apply for this tax credit.

Lendio’s ERC service also includes personalized support from tax professionals who’ll help you gather the necessary documents, handle the filing for you, and keep you informed on the progress until you receive your refund. 

Physical Address

Lendio, Inc

4100 N Chapel Ridge Rd Ste 500

Lehi, UT 84043-4422

Lendio ERC Lendio ERC Visit Site


This review was created with information from Lendio’s website.

BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.
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1 day ago
Thanks Mitch Cloward
I want to give a big thank you to Mitch Cloward for going above and beyond to make sure we were able to get the deal done which is allowing us to grow as a company.
Shawn K
2 days ago
I recently enjoyed working with Mr. Nicholas Kaufmann at Lendio, where he serves as a Business Lending Manager. From the moment I reached out, Mr. Kaufmann demonstrated exceptional professionalism, expertise, and dedication to helping me secure the financing I needed for my business. His depth of knowledge in business lending was evident in every interaction we had. He took the time to understand my specific needs and financial situation, providing tailored solutions and expert guidance every step of the way. Mr. Kaufmann's communication skills were impeccable, keeping me informed and reassured throughout the process. What truly sets Mr. Kaufmann apart is his genuine commitment to his client's success. He went above and beyond to ensure that I not only obtained the funding I required. I cannot recommend Mr. Nicholas Kaufmann highly enough to anyone needing business financing. His professionalism, expertise, and dedication make him a standout in his field, and I am grateful for his invaluable assistance. Thank You! A.Khan
Clayton P
2 days ago
We weren't sure of this process but…
We weren't sure of this process but Mike Johnson did a great job explaining everything to us and was very knowledgeable when it came to answering our questions. He seemed like he cared and even gave us advice on what we could do 6 months and a year down the road. Grateful for his help.
Natalie Bullen
3 days ago
Justin Culoso was amazing!! Funding in less than 3 weeks!
Justin Culoso was amazing. As a small business owner with revenue under $1m per year, most large banks won't lend you anything and many SBA products require so many stipulations that you can't get funding. I was able to go from application to funds in my account in under 20 days. It was lightning fast. The team communicated daily, was pleasant and friendly and worked my file like it was a priority. I am so impressed, truly.
Jeremy Duignan
6 days ago
Loan officer was great and communicative, fast funding!!!
I worked with Tanner W. after getting turned down by the bank I've been with for 10+ years and have multiple accounts with. Tanner called and introduced himself once he received my application. Told me what to expect through the process, was very informative and was always available. He got the loan closed and funded within just a couple of days. If you need a loan skip the banks and other places and contact Tanner W. at Lendio, you will not be disappointed.