Tax Credits

Lendio ERC Review (2023)

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Lendio is a company dedicated to providing financial services for businesses of all sizes.

Alongside their diverse range of services that include short loans, merchant cash advances, lines of credits, and more, they also assist business file for the Employee Retention Credit (ERC). Lendio’s ERC service aids companies in retaining their valued employees while navigating the intricacies of tax incentives and benefits. Below, we explore how Lendio’s ERC service works, and help you decide if they are the right third-party service for your business.

Here is a quick comparison chart that shows how Lendio stacks up against other top 3rd party ERC companies.

Comparison Chart

LendioOmegaBottom Line Concepts
Qualifying ProcessSimple eligibility questionnaireFree 10 minute consultationShort form and phone call
Best ForNo hidden feesFast fundingReputable service
Processing Time25 days to file on averageNot ListedNot Listed
Fee15% of refundUndisclosedUndisclosed
Bridge LoanYesYesNo


One of the key reasons why Lendio stands out as one of the best Employee Retention Credit (ERC) companies in the market is its transparent and customer-friendly fee structure. When it comes to determining your ERC eligibility, Lendio provides this service without upfront costs or hidden fees.

What truly sets Lendio apart is their commitment to providing value before payment. Only when your ERC application is successfully processed by the IRS, and you receive your entitled refund, will Lendio charge a reasonable fee of 15% from the amount received. This approach aligns Lendio’s success with that of its clients, ensuring that the company is genuinely motivated to deliver optimal results.

Additionally, Lendio’s pledge to transparency extends beyond its fee structure. The company takes pride in maintaining an environment of openness and integrity, making sure that there are no hidden fees to surprise clients later on. This means that businesses can confidently engage with Lendio, knowing that they will receive the assistance they need without being subjected to any unexpected costs.

With Lendio, businesses can navigate the complex ERC landscape with peace of mind, knowing they have a trusted partner that prioritizes their interests.

Qualifying Process

To determine eligibility, all you need to do is access the Lendio website and complete a straightforward application. Once Lendio confirms your eligibility, they will connect you with one of their trusted ERC partners. These experienced professionals will guide you through every aspect of the application process. Lendio’s commitment to simplifying the journey is evident in the way they streamline the submission of necessary documentation and essential tax forms, leaving you with more time to focus on your business’s core operations.

Throughout the process, Lendio keeps you well-informed about the progress of your refund. Their transparent communication and regular updates ensure that you are always in the loop, eliminating any uncertainties and providing reassurance that your application is receiving the attention it deserves.

Furthermore, Lendio’s efficiency shines through in their dedication to timely processing. With most applications filed within a 25-day timeframe, businesses can swiftly access the benefits they deserve, enhancing their financial stability and bolstering employee retention efforts.

Processing Time

Once your ERC application has been filed, the waiting period is primarily determined by the IRS processing time. As previously mentioned, the initial filing process with Lendio typically takes around 25 days on average. However, beyond this stage, the duration of the wait is subject to the IRS’s workload and the volume of ERC claims they have received.

As the IRS handles a considerable number of applications, the backlog of ERC claims may impact the overall processing time. It is important to note that while Lendio expedites the application on your behalf, the subsequent timeline falls within the IRS’s purview.

Other Services

In addition to its Employee Retention Credit (ERC) assistance, Lendio operates as a dynamic business loan marketplace, providing an extensive array of lending options tailored to your specific needs. By simply providing information about your business, Lendio’s platform facilitates the process of connecting you with eligible lenders. Here are some of the loan options available through Lendio:

  1. Lendio SBA Loans: These loans, partially guaranteed by the Small Business Administration, offer favorable terms in areas such as loan length, interest rates, and maximum borrowing limits, making them an attractive choice for small businesses seeking financial support.
  2. Merchant Cash Advances: With this option, lenders purchase a portion of your future card-based sales, providing you with a lump sum. The repayment is collected through a percentage withheld from your daily card-based sales, making it a flexible solution for businesses with varying revenue streams.
  3. Short-Term Loans: Designed as installment loans with shorter terms, usually less than a year, these loans charge a flat fee rather than the traditional interest rate. Repayments are made on a daily or weekly basis, offering convenience for businesses seeking quick access to capital.
  4. Term Loans: As a classic loan option, term loans provide borrowers with a lump sum in exchange for a commitment to repay the borrowed amount along with accumulated interest. The term lengths can vary, and payments are typically made monthly, weekly, or daily.
  5. Lines of Credit: With lines of credit, lenders establish a credit limit that you can borrow against, offering you the flexibility to draw funds as needed. As long as the total amount drawn does not exceed your credit limit, you can utilize this resource repeatedly.
  6. Equipment Financing: Tailored for the acquisition of tangible assets, equipment financing encompasses loans and leases. If your credit history poses a challenge and you require equipment financing, Lendio is a highly recommended option, particularly for startups with poor credit.

Lendio’s diverse loan options cater to businesses of all sizes and credit profiles, providing a seamless and efficient platform for accessing much-needed financial support. Whether you are seeking short-term assistance or a more structured borrowing solution, Lendio’s reputation as a top-rated lender positions them as a valuable partner in your business’s growth and success.

Customer Support

Lendio offers excellent customer support, easily accessible through phone or email, ensuring that your queries and concerns are promptly addressed. Upon applying for Lendio’s services, you are paired with a dedicated funding manager who becomes your go-to contact throughout the process.

This personalized approach allows the funding manager to present you with tailored offers, guide you in selecting the best options for your business, and provide comprehensive insights into the available loan products. The funding manager remains readily available to assist you with any inquiries or clarifications you may have. Lendio stands out with its transparent commitment to customer service, as evident in the publicly available customer service agreement on its website.


By providing transparent and customer-friendly fee structures, businesses can easily determine their ERC eligibility without any upfront costs or hidden fees with Lendio. Their commitment to value before payment ensures that businesses only pay for their services if their application is successfully processed by the IRS, building a partnership rooted in shared success.

With a streamlined application process and expert guidance from dedicated funding managers, availing of Lendio’s ERC service is almost effortless and rewarding. For businesses seeking efficient and reliable ERC assistance, Lendio is one of our top choices.