Feb 8, 2017

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

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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 the nation’s leading small business loan marketplace. With its diverse network of lenders, Lendio enables small business owners to apply for multiple loan products with a single application. To date, Lendio has facilitated over 200,000 small business loans for $10 billion in total funding, including $8 billion in PPP loan approvals as part of government COVID-19 relief. Lendio is a values-driven organization striving to provide equal access to capital to underserved communities and America’s smallest businesses. For every new marketplace loan Lendio facilitates, Lendio Gives—an employee-contribution and employer-matching fund—provides a microloan to a low-income entrepreneur around the world.

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