Dec 21, 2017

Lendio Franchise Announced in Rochester

Rochester, New YorkDecember 21, 2017Lendio, the nation’s leading marketplace for small business loans, today announced the opening of a new Lendio franchise in the Rochester area. Through the Lendio franchise program, R.J. Muto 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. Business owners fill out one simple application with no fee or obligation, and if approved, can get access to capital in as little as 24 hours. Funding options include SBA loans, credit lines, equipment loans, commercial real estate loans, and more. In the last fiscal year alone, Lendio has facilitated more than $240 million in funding.

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, Muto will help open a world of funding opportunities for business owners in Rochester’s diversified local economy.

“Our local economy is undergoing a shift toward more small-to-medium businesses, which can be a tough category for businesses trying to access funding,” said R.J. Muto, President of Lendio Regional Lending Services — Rochester. “Lendio’s solutions are not only a perfect match for our economy, but will also be a lifeline for many businesses in the Western New York area.”

“Small businesses make up 28 million of America’s businesses. The problem is that an estimated 80 percent of small business loan applications are being rejected by traditional banks,” said Ben Davis, chief franchising officer at Lendio. “Our core value is to give small businesses access to capital and help fuel the American Dream. We’re excited to expand our franchise program with R.J. We share a passion to see small businesses grow and make a positive impact on the U.S. economy, and the local community.”

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. From bars and restaurants to retail to home services equipment and small manufacturing, Lendio Rochester will provide greater access to capital to all of the area’s growing and diverse industries.

For more information on how to join the Lendio franchise program, visit: https://www.lendio.com/franchise.

 

About the author

Melanie King
As a reporter and editor, Melanie has written about everything from retail and tourism trends to economic development for regional newspapers, trade publications, and national magazines. As Lendio’s Director of Public Relations, she specializes in reporting fintech industry news and its impact on American small businesses. Melanie has a B.A. in Journalism from Brigham Young University. She is also a backpacker, runner, and mom of four.

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