Lendio Finishes 2013 with Record Revenues and Volume of Small Business Loan Approvals

2 min read • Feb 24, 2014 • Ty Kiisel

For Lendio, a Utah-based company that matches small business owners with small business loans, 2013 marked a year of record growth for the company, in helping small businesses, increasing revenues, and increasing company headcount.

In addition, the company entered the software space in 2013 by creating two unique, lender-specific Software-as-a-Service (SaaS) solutions. Lendio for the Loan Specialist (Lendio LS) and Lendio for the Team Lead (Lendio TL) enabling loan officers and lending institution team leaders to manage their lending pipelines more efficiently and manage leads more effectively.  By providing needed services to both borrowers and lenders, Lendio helps more small business loans get funded.

2013 Lendio Accolades are as follows:

  • For the 2nd year in a row, Lendio more than doubles revenue growth—Lendio experienced 115% revenue growth from 2012 to 2013.

  • Approximately $1.15 billion in business loan matches—Lendio helped more small business owners than ever before finance their American Dream

  • 158% year-over-year growth in matching business owners to financing options—This represents small business owners who created a profile at Lendio.com, and were successfully matched to a suitable loan option

  • 155% growth in business owners on the Lendio business loan platform—This represents 350,000 small business owners who have created a profile on Lendio.com.

  • Launched it’s new SaaS (software as a service) product—Designed to help business lending specialists and managers close and fund more business deals

  • The company was named one of Utah’s Best Places to Work by Utah Business Magazine for 2013

  • Lendio was able to double its staff in 2013

  • Lendio added a series B funding round of $4.5 million

“These achievements validate who we are and what we do as a company,” said Brock Blake, co-founder and CEO of Lendio. “I’m tremendously proud of the fact we were able to help more small business owners live their American Dream, provide software solutions to make it easier for lenders to successfully work with more small business owners, and provide a positive work environment and healthy corporate culture for our employees. This is exactly the type of company we strive to be.”

To see loan options available for your small business, you can visit Lendio here.

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Ty Kiisel

Small business evangelist and veteran of over 30 years in the trenches of Main Street business, Ty makes small business financing and trends accessible in common sense language devoid of the jargon.