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.

Feb 8, 2017

Lendio Announces Record Fourth Quarter and Fiscal Year in 2016, Executive Promotions

By

SILICON SLOPES, Utah – February 8, 2017 – Lendio, the nation’s leading marketplace for small business loans, today announced that it helped facilitate more than $70 million in financing through its marketplace of more than 75 small business lenders during Q4 2016. The figure represents a 68 percent increase in loans originated through the Lendio platform over Q4 2015. In the last fiscal year, Lendio facilitated more than $240 million in funding, a 87 percent increase over 2015.

The company also announced the promotions of Jim Granat to president and chief revenue officer and Trent Miskin to chief growth officer. Granat formerly served as chief operating officer and Miskin as chief technology officer.

Q4 Highlights:

  • Lendio raised $20 million in funding led by Comcast Ventures and Stereo Capital
  • More than 3,300 small businesses funded in Q4, including in all 50 states
  • Record number of repeat customers – 111 percent year-over-year deal growth from Q4 2015
  • Added six new lenders to its marketplace, including: FundingCircle, Able Lending, and Internex

“We are extremely pleased to report a strong year-end performance and look forward to continued success in the months and years to come,” said Brock Blake, founder and CEO of Lendio. “These robust numbers put us in an even better position to help small business owners acquire funding. Looking ahead, we will continue to focus on investing in a superior customer experience, loan application automation, efficient processes and talented personnel that will help simplify small business lending.”

Lendio’s financial performance is the result of helping small business owners across the U.S. gain access to capital. Becca Grider and Lindie Royall of Little Poppy Co., a bow subscription for little girls, needed funding to manage the rapid growth of their company (20 percent month over month). “We started looking online at different options for funding and quickly realized that Lendio was our best choice,” Royall said. “We submitted our information online, they contacted us and showed us our different loan options. We got $75,000 through alternative lending, and because we now have the money on hand, it will help us keep our growth going.”

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.

About the Author

Avatar

Press Contact

Address: 4100 N. Chapel Ridge Rd. Ste. 500, Lehi, UT 84043

Email: [email protected]

Phone: 801-748-4782

Get your small business loan today.

$
Applying is free and it won't impact your credit
Already have an account?  Sign in
Phone Icon

Give us a call
(855) 853-6346

Monday - Friday | 9am - 9pm Eastern Time