Lendio is a company that matches thousands of small businesses with the financing needed to grow, recharge and thrive. It is an online marketplace, akin to Kayak, AirBnb or Yelp, but for small business loans. It’s as simple as owners filling out an application and receiving access to more than 75 lenders on the company’s platform.
Lendio announced a partnership with Ocrolus, a tech company specializing in bank statement review automation. The PerfectAudit API powered by Ocrolus analyzes uploaded bank statements with 99+% accuracy, the companies claim, replacing manual review. Ocrolus technology allows lenders, for the first time, to review every potential borrower’s bank statement data automatically, regardless of whether the borrower provides sensitive bank login credentials.
Lendio announced on Thursday it has formed a partnership with Ocrolus, the emerging company in bank statement review automation.
According to Lendio, the PerfectAudit API, powered by Ocrolus, analyzes uploaded bank statements with 99+% accuracy, replacing manual review with automation.
Natural disasters can strike at any time, and have a devastating impact on communities and small businesses. For owners, government organizations like the Small Business Administration (SBA) have been offering disaster relief since before World War II, and continue to do so today with Hurricanes Harvey and Irma. According to MarketWatch, as of last week, the SBA had received 2,117 loan applications from residents and businesses affected by Hurricane Harvey.
SOUTH JORDAN — Standing in a dirt lot behind an office building, Lendio employees craned their necks toward the sky and watched as a crane slowly lifted an old car spray-painted with BYU blue.
A moment later, the crane dropped the vehicle from more than 100 feet. The battered car crashed to the ground with a splintering crack.
Lendio CEO Brock Blake grinned as his employees cheered.
SOUTH JORDAN, Utah (ABC4 news) - Several young children got a chance to show off their big business leadership skills during the Children's Entrepreneur Market in South Jordan on Saturday.
The market was held at Noah's and several kids were hoping to win some big prize money.
Salt Lake City—Like many a commercial for internet service boasts, there’s fast, and then there’s fast.
On Tuesday, Utah Business recognized companies whose growth leaves the rest in the dust.
“In a state that is growing faster than any other, the companies in this room are the fastest of them all,” said Donnie Welch, publisher of Utah Business magazine. “Each of you are expanding and contributing to the vibrancy of our economy.”
When it comes to running a franchise, 95 percent of the factors of success are the same factors that any small business owner is thinking about: maintaining cash flow, finding new customers and retaining quality employees, to name a few. However, there is a small albeit paramount subset of issues unique to franchisees that revolves specifically around the franchisee/franchisor relationship and the co-marketing of a brand.
In order for small businesses to succeed and realize the American Dream, they need ample access to financing and working capital. That’s been my mission since I founded the Lendio business loan marketplace. A fellow player in the business lending space and a great partner of Lendio, BlueVine is also empowering small businesses by providing the funding options they need with speed, simplicity and transparency.
Utah-based financial tech company Lendio Inc. says it has arranged more than $500 million in loans to over 21,000 small businesses across the nation.
The South Jordan company takes in online applications for funding from small businesses, transmits the information to lenders selected from the 75 it works with, and then goes back to the businesses with proposed terms from those willing to fund the loans. If the business owner chooses one of the lenders, then Lendio will close the deal.
Lendio, a free online service that helps business owners find the right small business loans within minutes, announced it has helped facilitate more than $500 million in financing to more than 21,000 small businesses across the U.S.
Salt Lake City-based Fintech startup Lendio has surpassed the $500 million threshold for loans originated to U.S. small businesses through its online marketplace. Lendio has been on a tear, evidenced by the fact that much of that amount, or $488 million, was done in the past two years.
Lendio announced on Thursday it surpassed $500 million in business loans to over 21,000 small businesses across the U.S. through its marketplace lending platform.The growth milestone comes after a 141 percent increase in loans originated through the lender in the last fiscal year.
Small business lending marketplace Lendio has surpassed the $500 million mark to more than 21,000 small businesses across the United States on the heels of 141 per cent loan growth over the last fiscal year. Available across the United States and parts of Canada, the Lendio marketplace provides access to more than 75 small business lenders.
Online marketplaces are some of the most fascinating businesses in the world. Whether it's Amazon, Kayak, Uber, Yelp, AirBnB, Lendio, or others, consumers and small businesses have come to expect a great customer experience from these online marketplaces. Just like other markets, in recent years, the rise of marketplace lending has transformed the small business lending space.
The debate over stacking—the practice of multiple lenders making loans to one borrower, often in a short period of time and without a full picture of the business’s ability to pay—and whether it should be allowed in the business lending space, has been ramping up for a few years now.
Over the past couple years, I've written about everything small business-related, from business owners who have been able to grow their business through access to capital, to changes at the Small Business Administration, and how small businesses can utilize social media.
Lendio has formed a partnership with Comcast to pitch its online lending-application platform to small businesses. The South Jordan, Utah, company started the arrangement with the Comcast Business subsidiary in early May, Lendio CEO Brock Blake said.
There are over 28 million small businesses in America — a diverse group of offerings that, taken collectively, are often referred to as the “backbone of the American economy.”
Applying for a small business loan is easier than it’s ever been. Online lenders have streamlined the process, brought it all online and whittled down approval times.
The customer is king, and it is a rat race when it comes to acquiring new customers in the online lending industry. Add to that the multiple options available to the customers and it becomes even harder.
DRAPER — Becca Grider and sister-in-law Lindie Royall have hit the small-business trifecta. The Utah women helped solve an inconvenience with a product people like in a manner that makes it almost effortless for anyone to become a customer.
Lendio released an infographic titled, “The Fast Lane to Better Small Business Funding.”
As we come upon Mother’s Day, George Washington’s quote rings true; there is no way that I would be the person that I am today without the sacrifice, motivation, and love from my mother. My mom has had a significant influence on the success that me – and
Lendio CEO Brock Blake joins Small Business Digest to talk about the best states for small businesses and more.