Lendio Founder and CEO, Brock Blake and VP of Product Solutions, Burke Alder were featured in a Coleman Report webinar discussing how lenders can keep relationships with businesses when the don’t fit lending criteria. They were joined by Bruce Jensen President, CEO of Town and Country Bank , who shared how his bank hopes to work with Lendio to find financing options for those businesses that fall out of their lending criteria.
- 90% of businesses that visit your bank will not qualify for the loan products you offer.
- An under-qualified business owner will search three other lending options and spend 26 hours to find a different option (Harvard study).
- 74% of business owners say they would switch banks to get a loan.
- Lendio provides a free service to help small businesses find a loan that does not require banks to take on additional risk.
- The Lendio online portal tracks every business from initial contact to funding.
Watch the full webinar for information on how your bank can protect your book of business by helping businesses you would normally turn away. Keep their deposits and other financial services in your institution.