During the COVID-19 pandemic shutdowns, Lendio switched gears to help businesses apply for PPP or Paycheck Protection Program loans because this was one of the best ways we could continue to help small businesses in the moment. Funding manager Tylere Jackson was part of this process from day 1.
Although the PPP program stopped accepting applications on May 31, 2021, Tylere continues to work with small businesses today—even some of the same businesses she worked with on PPP loans. She talked to us about how working with a familiar face and knowing all of your options can make a world of difference for a small business owner.
Funding manager: Tylere Jackson
Lendio employee since early 2020
Favorite part of being a funding manager: Building relationships with small business owners and feeling like she’s making a difference.
Interesting fact: Growing up, Tylere and her family moved every two years to different cities, states … and countries.
A: With PPP, businesses needed funds and they needed funds pretty quickly. It was straightforward problem-solving: let’s get you money and get you money fast. But now, financing feels more strategic. The applicant knows why their business needs the money. I’m trying to make sure they get the right kind of financing that will actually help their business the most.
One thing that is the same, however, is that even when I was working with PPP loan-forgiveness, I was able to establish relationships with some of the business owners. So now those same borrowers might be applying for a different type of financing and work with someone who already knows them. There’s more peace of mind. It’s like, “Hey, I’ve worked with this person before. I know they’ll respond to my emails and keep me in the loop.” It’s comforting to just have that familiar face… to think, “Yeah, I already know this person wants to help me.”
A: I’d want to know that my funding manager was listening to what I’m saying. If I need $10,000 just in case—for a rainy day—I might think I want to apply for an SBA loan. If my funding manager knows what I plan to do with the money, they might tell me that I’d be better off with a line or credit instead. I’d want my funding manager to suggest those options.
Most business owners I work with know they need money but they don’t really know all of the options that are available and what they could qualify for. I think telling a business owner their options is one of the most helpful things I can do, and letting the business owner know exactly where they stand—whether it’s good or bad—and what we can work on, helps establish a long-term relationship so they know I’m here to help them.
A: We’ve all just had a crazy year and a half. The last thing a business owner needs right now is more stress. So laying out all the options for the business owner and really explaining why we’re getting these options—that’s important. If I build this relationship, the businesses I work with know that they’re getting the information they need to be in control. From there, they can be confident that they’re making an informed decision.