07/24/14

Lendio Referral Program Provides More Loan Options to Small Businesses

Lendio, the online leader* in helping business owners secure financing, announced today a new program that enables banks and credit unions to offer financing to business owners who might not meet the strict standard of norms and requirements of traditional small business financing but are strong and healthy businesses with current deposit relationships.

“It’s nice to have a source we can turn to when we have a borrower we can’t finance internally,” said West Martin EVP Chief Lending Officer from Town & Country Bank. “Lendio is a great resource to help us bridge the gap for borrowers we would otherwise need to turn away.”

Successful adoption of the recently announced freemium version of Lendio has enabled traditional lenders to refer borrowers needing additional small business loan options within the network. The referral program allows banks and credit unions to maintain deposit relationships while helping borrowers easily access non-bank funding options through Lendio when they make sense for their bank or credit union customers.

“There’s no reason for a bank or credit union to turn away a borrower because they aren’t a good fit for a traditional small business loan. Our goal is to solve one of the biggest problems faced by traditional lenders—how to help small business owners looking for financing that might not qualify for a loan,” said Brock Blake, founder and CEO of Lendio. “Our new referral programs enables traditional lenders to leverage the Lendio platform to connect their customers with financing they don’t offer—enabling them to maintain their current small business banking relationships and provide the financing their customers need.”

If your bank or credit union is interested in joining the Lendio Referral Program, click here.

Additional Resources:

Learn more about the Lendio Referral Program

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About the author

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.

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