Lendio in the news

Ron Busby and Brock Blake both shot plenty of criticism at the Small Business Administration last year over its handling of the Paycheck Protection Program. Now, they agree: The PPP might be experiencing its first smooth rollout.

Starting next week, the Small Business Administration (SBA) will open applications for the next round of Paycheck Protection Program loans.

Certain lenders including community development financial institutions (searchable database here) and minority depository institutions (list here), will be able to offer loans to first-time PPP borrowers on Monday and Tuesday, then to second-time borrowers on Wednesday. All other participating lenders will be able to process loans in the days following.

CNBC’s Kate Rogers reports on the next phase of PPP loans and the state of small business. Brock Blake, CEO of Lendio, the largest small biz loan marketplace in U.S., joins the team to discuss.

Lenders, while generally supportive of the Small Business Administration’s restart of the Paycheck Protection Program, have a number of unanswered questions about how it will operate.

The SBA, which issued more than 120 pages of rules and guidance late Wednesday, is getting high marks for prioritizing underserved and marginalized groups. But concerns remain over the application process, particularly for existing PPP participants seeking a second loan, and verifying that a borrower qualifies.

Starting next week, the Small Business Administration (SBA) will open applications for the next round of Paycheck Protection Program loans.

Certain lenders including community development financial institutions (searchable database here) and minority depository institutions (list here), will be able to offer loans to first-time PPP borrowers on Monday and Tuesday, then to second-time borrowers on Wednesday. All other participating lenders will be able to process loans in the days following.

Minority-led business owners have been at the end of the line when it comes to getting Covid-19 relief from the Paycheck Protection Program--you can change that.

The reasons for the short shrift were manifold and include a lack of a prior banking relationship, informal compensation structures with employees, and having fewer employees in general.

Another round of Paycheck Protection Program loans is getting closer. But small businesses seeking relief will have to wait a little longer.

Late Wednesday, the U.S. Department of the Treasury and Small Business Administration unveiled new guidance for $284.5 billion worth of federally backed relief loans to small businesses harmed by the coronavirus pandemic.

After months of delays and partisan bickering, Congress passed a second stimulus bill, which has now been signed by President Trump. A significant part of this second stimulus includes renewed funds for Paycheck Protection Program (PPP) loans.

The Salt Lake Tribune’s Top Workplaces report annually selects three top executives — one each from a large, midsize and small company — for leadership awards.

It also recognizes companies for their work in specific areas such as employee training, encouraging new ideas and promoting a work-life balance.

Mastercard has announced the latest class of FinTech startups for its Start Path accelerator and partnership program.

Under the program, Mastercard will work with the companies for six months to help uncover ways in which they can leverage its technology, expertise and network to push their businesses forward. Mastercard said it aims to invest in solutions that help bring more people into the global digital economy, instill customer trust and deliver secure interactions.

This month Utah Business partnered with Holland & Hart to host a roundtable event featuring finance industry leaders to discuss fintech innovations, the CARES Act, and our forecast into 2021. Moderated by Representative Robert Spendlove of the Utah House of Representatives, here are a few highlights from the event.

FISPAN, Lendio, and Subaio are three of the ten fintech startups selected to participate in Mastercard’s upcoming Start Path accelerator program. The six-month accelerator will give startups the opportunity to collaborate with Mastercard on their solutions, as well as connect and network with members of Mastercard global ecosystem of banks, merchants, and technology companies.

A survey conducted by OnePoll in conjunction with the company Lendio of 2,000 small and micro business owners found that in 2018...

Sunrise, a Lendio company and providers of bookkeeping software for small businesses, has launched its first mobile app. The Sunrise Invoices & Payments app is designed to make the day-to-day management of bookkeeping easier for small businesses.

Leadership is not the position, it is the disposition. To be an effective leader, you need to authentically connect with your team, with your partners, with your customers and with your mission.

In a recent video call, Denada Ramnishta, SVP of Lender & Partner Strategy at Lendio, sat down with Opportunity Fund CEO, Luz Urrutia, to discuss small business lending and the gaps that exist for underrepresented small business owners.

While March for many people was a month that spelled disaster, Brock Blake saw an opportunity, not to simply chase the American dream of financial gains through business, rather save it.

We received hundreds of nominations, but these are the prettiest office spaces in Salt Lake City as decided by the Utah Business team.

When COVID-19 hit, our whole approach was suddenly flipped upside down, as thousands of small business owners sought help in the form of government relief funding.

For the sake of the millions of small business owners dealing with the worst financial crisis since the Great Depression, Congress needs to greenlight the next round of the PPP.

As Congress returns to Washington after a summer break, lenders are pressing lawmakers to resuscitate the Paycheck Protection Program.

While the first two rounds of the $659 billion program centered on getting loans into the hands of new participants, lenders want the next iteration to focus on quickly getting many of those borrowers' loans forgiven or helping those still struggling secure another round of funding.

Last week, Lendio, a facilitator of small business loans, released a report analyzing the $8 billion of PPP loans that were approved through its lending platform. A coalition of more than 300 lenders was able to give aid, saving an estimated 1.1 million jobs, Lendio indicates.

In this episode, we talk with BROCK BLAKE, the Founder & CEO of Lendio, which is the largest online marketplace of business loans in the U.S., facilitating over $10 Billion in loan approvals for small businesses.

In addition to the best-in-category winners profiled in the previous pages, here are some quick profiles of entrants in three technology categories: Most Innovative Use of Technology in Services, Products, and Operations.

At Lendio, our unofficial tagline has always been “Fuel the American dream.” Since the country shut down, we’ve been working furiously to bridge the gap between lending institutions and small businesses in need of relief funds. Like so many others, we’ve pivoted sharply in an effort to save the American dream.