Humaneyezed turns to Lendio after experiencing frustrations with getting business loans, and received funding offers within minutes
SALT LAKE CITY — After experiencing frustration with getting small business loans, Jake Fackrell turned to Lendio and secured funding within in a couple weeks.
“First we went to banks and it just felt like there were a lot of hoops to jump through, and no result,” said Fackrell, the CEO of Humaneyezed, a company that provides leads for various industries. “I talked to friends and family to see what options were available, and a friend of mine referred me to a company called Lendio.”
Lendio is a free, online service that matches business owners with the right business loan to more than 3,000 banks, credit unions and other lenders. It helps companies simplify the process of searching for, and finding, financing by instantly matching them with viable options.
“I went to their website and found that their process seemed pretty easy. I filled out a few questions and pushed submit and sat back and waited,” Fackrell said. “I thought I’d have to wait a couple days, but within minutes I had offers already coming in to my email box. I was pretty impressed. We had a number of fantastic options and we were able to pick what worked best for our company.”
Fackrell is one of more than 200,000 business owners that have used Lendio to shop for the right business loan in the last year. In total, more than $7 billion have been requested through Lendio’s platform, and approval rates for qualified borrowers are about 50-70 times greater than the national average.
“We had a number of fantastic options and we were able to pick what worked best for our company,” Fackrell said. “Lendio provided legitimate solutions. Now we have the ability to make our vision a reality.”
“Access to capital is what will keep small business thriving in our economy,” said Brock Blake, Lendio CEO. “We get excited every time we can help someone like Jake Fackrell get the funding he needs to grow his business.”
About Lendio
Lendio makes business loans simple by matching qualified small business owners with active banks, credit unions, and other lending sources. Through a proprietary matching technology, Lendio also instantly helps business owners shop, compare and contrast thousands of business loans in one spot. Lendio is a free service for business owners and is venture-backed by Highway 12 Ventures and Tribeca Venture Partners. For more information, contact Lendio at press(at)lendio(dot)com.
Great job Lendio!
What a fantastic success story.
Thanks, Jackie. We’re hoping to make a lot more of these videos.
Curious what type of financing they got.
Gene Evangelist
I dont think Lendio works for every small business. The money market is tight and just a matter of luck if you get any responses even in months. But its good to have somebody out there like Lendio.
Prabhakar, I think you’re actually right when it comes to being approved for a business loan. In the end, it all depends on the business owner and his/her particular business, revenue, time in biz, credit, etc. What Lendio can do for every business, however, is help you shop and compare rates, terms, and find what might be the best fit. And you can do it for free, quickly in one spot, and while preserving your credit.