Mar 15, 2018
Charlotte, North Carolina – March 15, 2018 – Lendio, the nation’s leading marketplace for small business loans, today announced the opening of a new Lendio franchise in Charlotte, North Carolina. Through the Lendio franchise program, Chris Cronk 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.
Since 2008, accessing financial capital for small business owners has been difficult. According to Edelman Intelligence, more than 40 percent of small business owners need additional funding for their business each year. Roughly 70 percent of small business owners aren’t aware that alternative lending sources exists.
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, Cronk will help open a world of funding opportunities for business owners in the South Charlotte region’s diversified local economy.
Cronk is a Charlotte resident of almost 25 years. As an investment banker for Bank of America Merrill Lynch, he advised and facilitated financing for companies of all shapes and sizes, and eventually transitioned into an investment and advisory role with local small businesses. “I’ve worked with numerous companies and witnessed their struggles to find capital,” said Cronk, President of Lendio South Charlotte. “Charlotte is a fast-growing market and community. I’m excited to be a part of that growth by helping businesses in every industry find funding.”
From equipment financing for the area’s construction and trucking companies to startup funds and working capital for local tech firms, Cronk is equipped to facilitate funding for all of the region’s growing sectors. In addition to being backed by the number one lending platform in the country, Cronk’s franchise will benefit from Lendio’s strong, built-in supports, marketing campaigns and extensive hands-on training with a wide array of financing options and loan products.
“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 Chris. 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 finance solution provider. 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 more than 300,000 small business loans for more than $11.8 billion in total funding, including $9.8 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. More information about Lendio is available at www.lendio.com.
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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