Overview

LendingTree, established in 1996 and headquartered in Charlotte, NC, is a prominent U.S. online lending marketplace that connects business owners with a wide network of financing partners. It simplifies borrowing by offering a single secure form that triggers matching with multiple lenders who then provide personalized offers, such as rates, terms, and required documentation.

Although LendingTree itself does not fund loans, its platform allows borrowers to compare options, including term loans, SBA loans, lines of credit, equipment financing, merchant cash advances, invoice factoring, and more. Users retain full choice and are under no obligation to accept any offers.

Highly rated by review sites and awarded an A+ BBB score, LendingTree supports borrowers across credit profiles and funding needs, with loan amounts reportedly reaching up to $5M, depending on the lender.

Pros & Cons

Features

LendingTree offers a robust set of features designed to streamline business borrowing:

• Extensive Lender Network: Tap into hundreds of lenders offering diverse business loan types, facilitating tailored options across credit profiles.
• Single Application, Multiple Matches: Submit one secure loan request, then review competing offers from matched lenders, typically up to 4–5, so you can evaluate rates and terms side by side.
• Finance Variety: Choose from term loans, SBA loans, lines of credit, equipment loans, microloans, commercial real estate loans, factoring, and merchant cash advances.
• Free to Use: LendingTree does not charge applicants. Instead, lenders compensate when matched, so it remains free and transparent.
• Rapid or Flexible Funding: Depending on the lender and loan type, borrowers may receive funds within one business day, while others, especially SBA loans, can take several weeks.
• Tools & Insights: Resources such as financial calculators, educational guides, and credit monitoring via the free LendingTree “Spring” tool help borrowers prepare and compare effectively.

Application Process

The LendingTree business loan application process is streamlined for efficiency:

1. Submit a Request: Fill out a single, secure online form with basic business details (such as income, credit profile, and loan purpose).
2. Soft Credit Check: LendingTree may perform a "soft" credit inquiry, which will not impact your credit score, but lenders typically conduct hard pulls when issuing offers.
3. Matching and Offers: The system matches you to up to 4–5 lenders who present personalized quotes. You are not obligated to proceed with any.
4. Review and Select: Compare offers based on APR, repayment timeframe, fees, and additional terms. This side-by-side comparison helps identify the best fit.
5. Complete Application with Lender: Accepting an offer leads you to finalize the application directly with the chosen lender—this may involve submitting documents like tax returns, financial statements, or collateral details.
6. Funding and Closing: Once approved, funding timelines vary, from same-day wire transfers to multi-week processing for SBA or secured loans.

Repayment Terms

Repayment terms differ by lender and loan type, but LendingTree helps borrowers navigate:

• Term Loans: Typically repaid in fixed installments over a set period, short-term (3–24 months) to long-term (5+ years).
• Lines of Credit are revolving credit that allow ongoing borrowing within a limit, with interest only on amounts drawn and flexible repayment terms.
• SBA Loans: These loans offer long repayment terms up to 25 years, depending on the program (e.g., 7(a), 504, microloans). They typically have lower interest rates and capped fees, though funding can take several weeks.
• Other Options: Equipment loans, invoice factoring, and merchant cash advances each have their own structure, such as equipment collateral or factoring fees based on invoice value.

Borrowers are advised to review repayment frequency (daily, weekly, or monthly), any origination or prepayment fees, and total cost over the loan term. LendingTree’s comparison tools and educational resources help assess these details.

Customer Support

While LendingTree doesn’t directly service loans, it provides multiple support pathways during the application process.

The website includes detailed FAQs, guides, and a “Contact Us” portal for assistance with loan requests or navigating matches.

For post-offer or lender-specific support, such as document submission or closing, all communication proceeds through the lender you choose.

Bottom Line

LendingTree’s business loan marketplace empowers U.S. business owners to quickly compare diverse financing options, from SBA to term and equipment loans, using one secure application. With fast potential funding, no platform fees, and educational tools, it offers efficient access to tailored loan solutions.

AI was used in the creation of this content, along with human validation and proofreading.