Solving one of the biggest problems in banking: how to help good business clients that don't qualify.
The Lendio online portal allows you to send under qualified businesses to our lending representatives and track progress on those businesses in real time. You keep visibility into the business and loan progress throughout the process so you can continue to build your relationships.
Small businesses rely on you for their credit cards, checking accounts and other financial services, so naturally they come to you when they need a loan. Unfortunately, they often don’t meet requirements. Saying “No” to a business puts your relationship at risk. In a survey of 50,000 businesses, 74% of those surveyed would switch banks to get a loan. Lendio helps the business get the funds and you maintain the relationship.
Businesses need funding fast. Lendio uses advanced matching systems, paired with live representatives, to find funding in a matter of hours and days, instead of months. Because we work with a network of lenders, businesses only need to complete one application process to access multiple lenders.
We help thousands of businesses every month find financing. We know how hard it can be to find financing and how important it is to a small business owner. Our representatives work one-on-one with business owners to help them gather information, complete the application and evaluate options.
The old approach is to politely show them the door telling them to make their way back in a few years. Industry leaders are starting new trends. By partnering with lending marketplace solutions (like Lendio) banks are able to help clients find funding, without taking on the risk and protecting the loss of other financial services (deposits, credit cards, etc.). Find out how we can help you protect your relationships and build future qualified borrowers.
A. An under qualified business comes to you for financing.
B. You complete a simple contact form that passes information to Lendio.
C. Lendio searches its network of lenders to find the best option.
D. Funding is completed and you are notified.
With the new funding the business is able to grow and become more qualified for financing you offer.
"It's nice to have a source we can turn to when we have a borrower we can't finance internally. Lendio is a great resource to help us bridge the gap for borrowers we would otherwise need to turn away."
I really like how Lendio allows me to access multiple lenders with different loan products. It allows me to focus on finding new customers and building relationships.”