⚡ Quick Answer: LendingTree is a loan comparison marketplace, not a direct lender. It’s worth using to compare offers from 300+ lenders without affecting your credit score. Best for small businesses comparing SBA loans, equipment financing, and business lines of credit. Full review below.
LendingTree is one of the most well-known financial comparison platforms in the US. Rather than being a direct lender, it connects borrowers with multiple lenders who compete for your business — the idea being that competition drives better rates. For small business owners looking for financing, it’s a useful tool, but it’s important to understand how it works before you apply.
Key Takeaways
- LendingTree is a loan marketplace, not a direct lender — it connects you with partner lenders
- Filling out the form generates a soft credit pull (doesn’t affect your credit score)
- You may receive calls and emails from multiple lenders after submitting
- Useful for comparing business loan offers, but compare all terms carefully
- LendingTree earns a commission from lenders when you close a loan
How LendingTree Works
The process is straightforward: you fill out a single form with information about your business (revenue, time in business, loan amount needed, purpose) and your personal information (credit score range, SSN for verification). LendingTree shares this with its network of lender partners, and within minutes you’ll see loan offers from multiple lenders you can compare side-by-side.
Types of Small Business Financing on LendingTree
LendingTree partners with lenders offering: term loans (fixed repayment over 1–10 years), SBA loans (through SBA-approved partner lenders), business lines of credit, equipment financing, and invoice factoring. The availability and rates vary significantly by lender.
Pros and Cons
| Pros | Cons |
|---|---|
| One form, multiple offers | Will receive calls from multiple lenders |
| Soft pull (no credit impact initially) | Rates vary widely; compare carefully |
| Includes SBA loan options | Some partners have high origination fees |
| Free to use | Not all lenders work with all states |
Is LendingTree Right for You?
LendingTree is most useful as a first step in your loan search — it gives you a broad picture of what’s available at your credit level. However, don’t stop there. Also check directly with your local bank or credit union (which may offer better rates to existing customers), and look at SBA.gov for government-backed options.
Visit LendingTree’s business loan page to compare offers.
This content is for informational purposes only and does not constitute financial advice.
Frequently Asked Questions
Is LendingTree good for small business loans?
LendingTree is useful for comparing loan offers from multiple lenders in one place. It shows you competing rates without hard credit inquiries. The actual loan comes from LendingTree’s network lenders, not LendingTree itself.
Does LendingTree hurt your credit score?
Getting rate quotes on LendingTree uses a soft credit pull, which does not affect your credit score. A hard pull only happens when you formally apply for a specific loan with a lender. You can compare quotes freely.
How does LendingTree make money?
LendingTree earns referral fees from lenders when borrowers close loans through their network. This means lenders featured prominently may pay higher referral fees — always compare the actual loan terms, not just placement.
What types of loans does LendingTree offer for businesses?
LendingTree’s business loan network covers: SBA loans, business term loans, lines of credit, equipment financing, invoice factoring, and merchant cash advances. Eligibility and availability vary by lender.
Is LendingTree safe to use?
LendingTree is a legitimate, publicly traded company (NASDAQ: TREE). Your personal information is shared with lenders in their network, so expect follow-up calls and emails after requesting quotes. Use a dedicated email if you want to control the volume.