Why Lendio says no
A marketplace rather than a funder: the decline comes from the lender panel, and the same file can be shopped repeatedly, sometimes with multiple credit pulls.
What is read differently here
One application, published thresholds, and no impact to your credit to check.
There is no hard credit cutoff here. The 650/600/550 tiers are product criteria, not a floor on the business. Scores in the 500s are placed routinely, and files in the 400s are read on revenue, deposit consistency and time in business rather than on the score alone.
The three routes back
Tier 1: 650 FICO, 3 years in business, $300,000 a year or $25,000 a month, 8+ monthly deposits.
Tier 2: 600 FICO, 6 months in business, $60,000 revenue, $800 minimum daily balance.
Renewal: 550 FICO, 2 years in business, once 50% of the original balance is repaid.
A position with a balance of $100,000 or less can be refinanced into a weekly-payment structure.
Questions
Does a decline from Lendio affect me here?
No. A prior decline elsewhere is not one of the thresholds on this site.
What credit score do I need?
There is no hard credit cutoff here. The 650/600/550 tiers are product criteria, not a floor on the business. Scores in the 500s are placed routinely, and files in the 400s are read on revenue, deposit consistency and time in business rather than on the score alone.
How fast is a decision?
Same day on a complete file.
Will checking affect my credit?
No.