Lendio in the news

The big boss isn’t always the best boss. But the best ones can make a big difference, sometimes by doing little things.

Listening. Caring. Sharing. Celebrating. And, at times, getting out of the way.

In spite of growing concerns, the economy remains strong. As a result, entrepreneurs continue to seek fresh capital to help grow their businesses. According to a recent SMB economic insights report from Lendio, the demand for small-business loans is on the rise nationwide

Small businesses have been around since the time of early civilizations, and lending to small businesses is almost that old.

The roots of traditional lending can be traced back to 3,000-year-old written loan contracts from Mesopotamia, which show the development of a credit system and include the concept of interest.

Lendio, the nation’s largest marketplace for small business loans, today announced it has been named to MountainWest Capital Network’s 2019 Utah 100 list. Lendio ranks 42nd on the list of Utah’s 100 fastest-growing companies. The rankings were announced at the 25th annual Utah 100 Awards luncheon at the Grand America Hotel.

Lendio, a leading marketplace for business loans, recently announced its list of Top 10 States for Women’s Access to Capital.

Several states not on the list saw a high percentage of growth in small business loans to women, including Nebraska, Wisconsin, Arkansas, Idaho and Hawaii. However, when the percentage of women taking on loans is weighted with the success rate in going from application to funding, South Dakota ranks No. 1 in the country.

In the American remake of the sitcom The Office, Robert California makes an acute observation about the challenge of small business marketing in the face of big brand retailers to Dunder Mifflin employees: "Let me tell you how I buy something these days. I know what I want, I go on the internet, I get the best price. Or I don't know what I want and I go to a small store that can help me.

Natural language processing, the latest advancement in business intelligence and analytics applications, provides an easier way to access quality data and derive deeper insights. But because of its sophistication and nuances, NLP progress has been limited as well.

If you own credit cards, you likely use them. But chances are, you aren’t aware of all the benefits they provide you as a consumer. Sure, you realize they’re convenient financial products you can use for everyday purchases, but their advantages go deeper than that.

We turned to the experts to get a complete picture of all the perks credit cards offer.

When you apply for business loans, lenders may use the five C's of credit as a guideline for determining whether you qualify for financing. Sometimes referred to as the four C's, depending on the lender, these criteria are used to gauge your business's ability and likelihood to repay a loan.

Digital transformation is more important for banking than any other industry sector, according to Gartner's 2018 CIO Agenda Survey. In today's connected world, customers expect to be able to manage their money as fast as their network speed allows them.

U.S.-based online lending platform Lendio announced on Wednesday it has provided more than 10,000 Kiva micro-loans to entrepreneurs in the developing world through Lendio Gives. Lendio reported that its Lendio Gives is an employee donation and employer matching program focused on facilitating global entrepreneurship. To date, the program has provided over $250,000 in microloans to business owners around the world.

The concept of artificial intelligence is nothing new, yet the hype around it continues to grow. According to CB Insights (via Forbes), AI startups have raised a record $7.4 billion raised in the second quarter of 2019 alone.

Brock Blake of Lendio points out online lending is one bright spots that has helped women owned businesses to get the capital they sorely need; the good news is almost 100 percent of female entrepreneurs want to stay self employed, now investors need to show them the money.

Women, especially women of color, not only earn less than men in the workforce but are also less likely to get access to capital for their businesses. Perhaps the most sobering statistic is that in all of 2018, women had a meager 2.2% share of the $130 billion given out in venture capital. And that was a $1 billion improvement over the prior year.

Brock Blake is founder and CEO of Lendio, an online marketplace for small business loans. Lendio offers borrowers access to loan options from more lenders than any other marketplace in the industry. Blake is an Inc. 500 CEO, national keynote speaker, and Forbes columnist.

Most entrepreneurs I know don’t identify as small business owners, but rather as what they do: cheesemonger, esthetician or landscaper, for example. Yet, many of these business owners claim a similar pain point: Mega online retailers like Amazon, or internet giants like Google, are affecting their ability to thrive.

It’s all about the quest for the right dress. The shopkeeper consults with bride-to-be and asks; “Tell me a bit about what you’re looking for in your wedding gown.”

Whatever the betrothed envisions herself wearing on her big day is exactly the customized gown she’s going to get. All because a couple had a dream.

Young professionals just entering the workforce often wish they had a quick guide to the key aspects of their field of work. This holds true for marketing and communications professionals as well, especially given how fast their industries are changing as new technologies and trends emerge that businesses need to adapt to if they want to survive.

Without a good track of accounts, business suddenly crumble and fall without warning. We’ve reached out to business experts who’ve been at the stage where they could called their business medium sized. As accounting became even more important, they successfully picked the accounting software that has worked for them.

A store that sells only cufflinks. A restaurant that serves nothing but grilled cheese sandwiches. A tiny stand where you buy only artisanal salt. In the not-too-distant past, these kinds of shopping and dining options were almost unheard of.

In July the U.S. economy saw 121 months of economic expansion, breaking the previous record. But with that good news comes a caveat: the economy is due for another recession. The Federal Reserve of New York has pegged the chances of a recession beginning next year at about 33 percent.

MountainWest Capital Network (MWCN) today released the 2019 Utah 100, its annual list of the fastest-growing companies in Utah. MWCN released the Utah 100 companies in alphabetical order today, but will release the rankings in numerical order at the 25th annual Utah 100 Awards luncheon at the Grand America Hotel on Wednesday, October 30, 2019.

U.S.-based online lending platform Lendio announced this week it has plans to double the sales force at its Lehi, Utah, and Woodbury, New York, offices. The lender reported that it has hired 80 employees in 2019 and intends to add another 40 sales representatives by the end of the year.

After plenty of adaptation for survival over the last few years, it’s been largely smooth sailing for fintech companies in 2019. Global expansion is steadily increasing. Billions of dollars in venture capital funds are flowing into fintech startups.

The average small business has just 27 days of cash in reserve. One in four have less than 13 days. Even those that are flourishing run into cash shortages that can stymie their growth. The solution is simple: an immediate cash infusion to get the gears turning again. For some businesses, that means a small loan to make the next payroll.