The Paycheck Protection Program ends on August 8, 2020. We will stop sending applications to lenders on August 7, 2020 at 10:00 PM EDT/8:00 PM MDT. We anticipate that an extension to the deadline for the Paycheck Protection Program may pass in the coming days. Lendio will continue to accept applications in the interim and, if Congress passes an extension, Lendio will submit your application to our lenders when the Paycheck Protection Program resumes.

Mar 1, 2017

Lendio Announces First-of-Its-Kind Marketplace Lending Franchise Program

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SILICON SLOPES, Utah – March 1, 2017 – Lendio, the nation’s leading marketplace for small business loans, today announced it is expanding the reach and availability of its small business lending options with the launch of a new franchise program.

The Lendio franchise program complements the company’s core value of helping small business owners fuel the American Dream. Through this program, franchise owners across the country can ease the financial hurdles for small businesses in their local community. Lendio franchisees get access to Lendio’s marketplace and technology, comprehensive training, branded marketing tools and national advertising, partnerships, and access to Lendio’s franchise support team to help coach small business owners through the lending process.

“We are thrilled to extend the availability of our online loan marketplace through our franchisees to an even broader group of small businesses who may not have been aware of the range of loan options available to them,” said Brock Blake, CEO and founder of Lendio. “With 80 percent of small business loan applications being rejected by traditional banks, now more than ever, small business owners need access to various sources of funding. Having a local presence will help bridge the awareness and trust gap for small business owners, helping borrowers position themselves and their companies for a great future.”

Ben Davis, chief franchising officer at Lendio, will lead the franchise program. Together, Lendio and Davis will expand the company’s local presence and offer services to a new segment of small business owners through local franchisees, bringing options, speed and trust to Main Street, the backbone of America’s economy, in a way that has never been done before.

“Lendio’s investment in franchising meets the classic definition of an organization ‘putting its money where its mouth is,’” Davis said. “To Lendio’s already powerful online marketplace, Lendio franchisees bring a wealth of knowledge about local businesses and their capital requirements. They are connected to their communities and uniquely driven to build great neighborhoods and strong local economies.”

Lendio helps small business owners find working capital through its online platform. With a network of over 75 lenders offering multiple loan products, Lendio’s marketplace matches small business owners with various loan options. Today’s announcement comes on the heels of Lendio announcing an 87 percent annual increase of loans originated through its platform, which has facilitated more than $240 million in loans last year.

Lendio currently has franchisees in five territories, with significant interest in many others. Partners Kyle Bohrer and Bryan Gealy, in Erie, Pennsylvania, joined Lendio as the first franchise owners. Bohrer has been in the small/mid-sized business marketplace for over 10 years. Located in the Great Lakes region, Bohrer has been working on saving Erie small business owners money on their shipping. By becoming a Lendio franchisee, they are able to support businesses with their financing needs and help their community turn the corner economically.

“We will consult with potential customers looking to create new businesses and ones looking to expand, grow or just stay afloat,” Bohrer said. “Erie is my hometown, so becoming a Lendio franchisee allows local small business owners to work with someone in their community who knows their needs, challenges and potential opportunities.”

For more information about Lendio’s franchise program, visit: https://www.lendio.com/franchise.

 

About Lendio

Lendio is a free online marketplace that leverages machine learning to help business owners find the right small business loans within minutes. With a network of over 300 lenders offering multiple loan products and over 200,000 small business loans facilitated, Lendio’s marketplace is the largest in the country and the center of small business lending. Based in the Silicon Slopes of Lehi, Utah, Lendio was recently recognized by Glassdoor as one of the Top 50 Workplaces and has been certified for four years running as a great workplace by the independent analysts at Great Place to Work®. In addition, Lendio ranks on Fortune’s Best Workplaces in Financial Services & Insurance and Inc.’s Best Workplaces. For every new marketplace loan facilitated on Lendio’s platform, Lendio Gives, an employee contribution and employer matching program, provides a microloan to a low-income entrepreneur around the world through Kiva.org. More information about Lendio is available at www.lendio.com. Information about Lendio franchising opportunities can be found at www.lendiofranchise.com.

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