by Ray Hayes
In an effort to end the struggle for small business owners searching for financing opportunities, Lendio is planning to offer a faster way to get funded. Lendio is a marketplace lending franchise that the offers small businesses more efficient ways to obtain capital. For its new services, the company claims that owners can complete an application process for funding in less than 15 minutes. This in turn, will connect the owner with a Lendio network of more than 75 lenders nationwide. Within the last 18 months, the lending franchise has awarded $16 million in loans to over 500 small businesses.
Mark Cottle, Executive Vice President of Franchising at Lendio, recently spoke about the company’s objective. “This marketplace lending franchise program works to reach Main Street businesses in smaller regions and local communities. Lendio franchisees are networking with accountants, attorneys and chambers of commerce in their areas to provide loan options to their small business clients.”
According to the company’s website, business owners are 65 percent more likely to find funding with them compared to more than 80 percent of big banks turning business owners away. What sets Lendio apart from others, is the company’s willingness to meet face to face with small businesses despite being a mostly fintech operation. Additionally, the online franchise also works with local banks to establish partnerships in efforts to build the local small business community.
If you are interested in learning more about Lendio, please visit their website, https://www.lendio.com/franchise/ .