Jan 15, 2020
Franchise Owner Shay Munk Will Provide Access to Small Business Capital through Local Banks and the Nation’s Top Online Lenders
OGDEN, Utah – January 15, 2020 – Lendio, the nation’s leading marketplace for small business loans, announced the opening of a new franchise in Northern Utah and Eastern Idaho. Through this Lendio franchise, Cache Valley native, Shay Munk, will help business owners submit applications, find and review loan options and secure funding, easing financial hurdles for the area’s businesses.
Lendio is an online service that helps business owners find the capital they need through its network of over 75 lenders. Funding options include SBA loans, startup loans, equipment loans, commercial real estate loans and more. In the last 12 months alone, Lendio facilitated more than $500 million in loans through its platform.
Lendio’s franchising program combines the benefits of local funding experts with the access of the nation’s top online lenders to provide funding options to business owners who otherwise might not qualify for financing. Franchisees are small business owners themselves and understand the needs of local business owners on a personal level.
“Despite being in banking and commercial lending for my entire career, this is my first business,” says Shay Munk, owner of the franchise. “I’m already finding myself relating more closely to the business owners I am working with. It’s no longer a yes or no to funding, it’s how can I get them what they need to make their business successful. It’s personal.”
A native of Cache Valley, Utah, Munk is eager to work to open a world of financing opportunities to those in industries ranging from tech to healthcare to agriculture.
“I truly believe that the cities and communities of Northern Utah and Eastern Idaho are excellent markets for growing businesses, and I’m excited about the ability to give them so many different options to grow and expand,” continues Munk. “Working with banks alone, I was sometimes limited in what industries I could serve and what products I could offer. Now, however, I’m confident that with my local bank partners coupled with Lendio’s national partners I will be able to serve so many more business owners with the right loan options.”
Through partnerships with community banks and SBA lenders, this new Lendio franchise will expand access to capital to small business owners in all of the area’s industries—from equipment loans for farmers and ranchers to lines of credit for retailers and manufacturers. In addition to being backed by the largest business loan marketplace in the country, the Northern Utah and Eastern Idaho area 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.
“Over the last few years, approval rates among large banks have dropped a few points, while approvals from online lenders have soared,” said Mark Cottle, Executive Vice President of Franchising at Lendio. “The combination of high-tech marketplace and the personal touch of a local representative like Shay will allow Northern Utah and Eastern Idaho business owners to access loan options they didn’t even realize existed.”
For more information on how to join the Lendio franchise program, visit: https://www.lendio.com/franchise.
Lendio is a free online service that helps business owners find the right small business loans within minutes. With a network of over 75 lenders offering multiple loan products, Lendio’s marketplace is the center of small business lending. Certified for three years running as a great workplace by the independent analysts at Great Place to Work®, Lendio ranks on Fortune’s Best Workplaces in Financial Services & Insurance and Inc.’s Best Workplaces. For every new loan facilitated on Lendio’s marketplace 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.
Spencer has spent the last ten years in the throes of all things marketing and communications. In the past, he has written for companies and clients spanning restaurants to SAAS companies, and entertainment guilds to yoga studios. Spencer has a B.S. in Communications from the University of Utah. When not writing or working, he can be found in the mountains on a hike, in a movie theater with a tub of popcorn, or on stage at a local theater.
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