SALT LAKE CITY--(BUSINESS WIRE)--Lendio, the small business loan marketplace that matches businesses with the capital they need to grow, announced today that the platform funded over $10.6 million in small business loans in the month of April.
Small businesses across the country use Lendio’s marketplace to access capital from more than 20 different financing options including lines of credit, SBA loans, term loans, merchant cash advances, ACH advances, equipment loans, commercial real estate loans, factoring and more.
“This milestone and rapid growth to over $10.6 million in monthly funded loans showcases our ability to meet the needs of business owners through our award-winning marketplace and our core values of options, speed and trust,” said Brock Blake, Lendio’s CEO. “At Lendio, the entire team is driven by the mission to fuel the American Dream by making small business loans simple.”
A few of the lenders who funded deals in April on Lendio’s marketplace include LendingClub, OnDeck, Kabbage, DealStruck, Retail Capital, Strategic Funding Source, Merchants Capital Access, CAN Capital, Quick Bridge, Merchant Cash & Capital, and Pacific Premier Bank.
“Lendio is quickly positioning themselves as the leading small business lending marketplace that we trust to fund quality business owners,” said Jay Shaw, Director of Account Management at Quick Bridge Funding.
Lendio became a market leader by providing business financing leads to the industry’s best lenders. During that time, Lendio helped over 400,000 business owners get matched to lenders (and their loan products) through Lendio's lead generation platform. After several months of beta testing, Lendio officially launched its small business loan marketplace division on April 1, 2014. Over the past year, Lendio has shifted its model from a lead generation platform to a small business loan marketplace. This shift has seen tremendous monthly loan volume growth from $0 to $10.6 million over the past 12 months.
“We have always had a bigger vision than just selling leads and couldn’t be happier about our progress in building the industry-leading small business loan marketplace. Our marketplace focuses on offering all of the business loan options to the business owner while providing a white-glove customer experience that the business owner can trust,” said Blake.
Using its award-winning technology, Lendio provides all business loan options into one place, making it easy for any business owner to get approved for the loan option that best fits their need. As a result, Lendio can get business owners more capital in less time.
“Lendio helped me to quickly understand my options and secure a business loan to expand my restaurant business,” said Annie Payton, owner of Annie’s Gourmet Italian restaurant in Henderson, Nevada. "It was a great experience working with the team at Lendio."
About Lendio
Lendio is a free online service that helps business owners find the right small business loans within minutes. The center of small business lending, our passion is fueling the American Dream by uniting the small business loan industry and bringing all options together in one place, from short-term specialty financing to long-term low-interest traditional loans. Our technology makes small business lending simple, decreasing the amount of time and effort it takes to secure funding. More information about Lendio is available at www.lendio.com.
