May 9, 2018
Local Franchise to Simplify Small Business Loans & Provide Greater Access to Capital
BROOMFIELD, COLORADO – May 9 , 2018 – Lendio, the nation’s leading marketplace for small business loans, today announced the opening of a new Lendio franchise in Colorado’s Front Range region. Through the Lendio franchise program, Kyle Addy will help local businesses in the community apply for loans, review their options and secure funding, easing the financial hurdles for small business owners.
Lendio is an online service that helps business owners find the working capital they need to grow their business through the company’s network of over 75 lenders. Funding options include SBA loans, startup loans, equipment loans, commercial real estate loans and more. In the last fiscal year alone, Lendio facilitated more than $300 million in funding.
Colorado recently ranked No. 8 on Lendio’s third-annual Top 10 Best States for Small Business Lending. Key findings show the average small business loan size in the state increased 100 percent year-over-year. Based on several key indicators, including approval rates and loan sizes, from among thousands of Lendio’s customers, the list showcases how online lending technology is giving entrepreneurs the freedom to create, innovate and succeed.
“I love this area. I’ve lived here my entire life and it really is a fantastic place,” said Kyle Addy, President of Lendio – Front Range. “In recent years the economy is just booming. Tons of people are moving here and businesses are opening everywhere. I am excited to be a part of the growth.”
The Lendio franchise program makes business loans easy by helping small business owners skip the legwork of looking for a small business loan. Franchisees understand the needs of local business owners and can guide them through the lending process. By bridging that gap between the online lending marketplace and the small business owners, Kyle will help open a world of funding opportunities for business owners in the Front Range region’s diversified local economy.
Kyle spent most of his career in the restaurant franchising business. He is familiar with the struggles of starting and growing a business and, more specifically, a franchise. Lendio – Front Range will provide greater access to capital to all of the area’s growing industries—from equipment loans for restaurants to startup funding for software companies—as well as strategic partnerships with community banks and SBA lenders to help serve a broader base of small business owners.
“Eighty percent of small business loan applications are being rejected by traditional banks,” said Ben Davis, Chief Franchising Officer at Lendio. “Lendio’s core value is to give small businesses better access to capital, and we’re excited to expand our franchise program with Kyle. We share a passion to see small businesses grow and make a positive impact on the U.S. economy, and the local community.”
For more information on how to join the Lendio franchise program, visit: https://www.lendio.com/franchise.
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.
Chris is part of Lendio's PR team and a student at Brigham Young University. As a former small business owner, he understands how tough the entrepreneurial life can be. Chris researches how tech can help entrepreneurs succeed with everything from bookkeeping to financing. When he's not in class or at the office, Chris can be found breaking ankles on the basketball court or shredding The Greatest Snow on Earth.
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