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LEHI, Utah—March 5, 2024—Lendio, the nation’s main small enterprise monetary options platform, proclaims at this time it has surpassed over $15 billion in funding for small and medium-sized companies (SMBs). That equates to over 400,000 SMBs receiving loans and financing via Lendio and a community of 75 lenders in its market. The necessity for SMB funding is a crucial want, with 77 p.c of small enterprise house owners saying they’re involved about their means to entry capital. A high purpose for SMB failure is lack of funding or working capital.
“Our mission is to create a world the place small companies survive and thrive,” stated Brock Blake, CEO and Co-Founding father of Lendio. “Over the previous decade-plus, we’ve been in a position to work with unbelievable companies to gasoline their goals, from a laundromat and a trucking enterprise to bakeries {and professional} companies companies. These are the outlets and companies that line the streets of our communities and are main contributors to our native economies. To surpass $15 billion in funding to those crucial SMBs is an thrilling milestone and a quantity we proceed to develop and add to in pursuit of our mission.”
Lendio’s market consists of 75 lenders and thru in depth AI and machine studying can match SMBs, via one software accomplished in quarter-hour or much less, with the funding provides. Moreover, Lendio’s referral partnerships with family names like SoFi and Dun & Bradstreet assist drive small companies to {the marketplace}.
“Lendio is a pioneering, market-leading fintech firm, and has served as considered one of our greatest referral companions, serving to to propel us to larger success as one of many nation’s high small enterprise lenders,” stated Thomas G. Zernick, CEO of BayFirst Nationwide Financial institution. “Lendio’s market has offered the platform to attach with small companies with various funding wants and has confirmed particularly efficient for our small-balance, sub $150,000 BOLT SBA mortgage program, which has taken off in recent times. As we glance towards future innovation and automation, we’re excited to proceed our partnership with Lendio and higher place us each for what comes subsequent for small enterprise lending.”
Lendio is constant to develop its know-how portfolio to raised join banks and monetary establishments to SMBs via its lender SaaS product, known as Clever Lending, that streamlines a financial institution’s means to efficiently fund their SMB prospects. In the end, Clever Lending will allow elevated SMB funding, contributing to fixing the dearth of entry to capital that these companies have confronted.
About Lendio (www.lendio.com)
Lendio is remodeling small enterprise lending by connecting small companies, lenders, and small enterprise service suppliers via a single built-in know-how platform. We’re on a mission to energy an ecosystem that helps small companies survive and thrive. Lendio gives purpose-built software program that automates small enterprise mortgage decisioning and underwriting for each banks and digital lenders, makes use of AI to match small companies to the financing provides that finest meet their wants, and embeds a full small enterprise mortgage market immediately inside small enterprise service suppliers’ platforms – all of which work collectively to get small companies entry to the capital they should be profitable.
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