Sep 21, 2016

Lendio and Supplier Success Partner to Improve Access to Capital for Minorities

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SOUTH JORDAN, Utah – September 21, 2016 – Lendio, the nation’s leading marketplace for small business loans, today announced a partnership with Supplier Success, LLC, a Detroit-based company focused on providing working capital solutions, and on improving minority and women business owners’ access to capital.

Through this strategic partnership, Lendio and Supplier Success will provide minority and women business owners access to transparent lending rates and respectful business practices. Lendio recently reported facilitating more than $250 million in funding to more than 10,000 small businesses.

During the economic downturn from 2007 to 2012, minority-owned businesses emerged to help rebuild the American economy. According to the Center for Global Policy Solutions, minority businesses outpaced other businesses by adding 72.3 percent of new jobs during that time. Despite these achievements, minority and women business owners still lack adequate access to capital compared to their counterparts.

“By joining forces with Supplier Success, we’re able to expand our capabilities to provide minority business owners easier access to financing,” said Brock Blake, CEO and co-founder of Lendio. “It’s a pleasure to be working together with Louis Green and a company that shares the same vision in providing opportunity to a country that’s continuing to become more diverse.”

The U.S. Census Bureau estimates that by 2043, America’s minority communities will collectively become the majority population. The partnership between Lendio and Supplier Success will use the latest technology to address the disparity in access to capital for minority business owners.

“Lendio’s combination of user-friendly technology and end-to-end service makes them an ideal partner for us, and for the entire diverse business community,” said Louis Green, CEO of Supplier Success. “Minority and women business owners describe access to capital as their number one barrier to growth. We believe this partnership will go a long way toward addressing that issue.”

For more information about Lendio, please visit www.lendio.com.

To learn more about Supplier Success, visit www.suppliersuccess.com.

About Supplier Success

Supplier Success, LLC is a provider of supplier finance solutions focused on expediting supplier payments, increasing corporate cash reserves, and unlocking cash flow for buyers and suppliers. Supplier Success offers supply chain finance, virtual credit card payment, and supplier diversity services to corporations, receivables finance solutions to suppliers, and minority business access funds to partner organizations. The company advocates for mutual success between buyers and suppliers, resulting in shared growth and prosperity. Founded in 2014 by Louis Green and based in Detroit, Supplier Success, LLC is a certified minority business enterprise. For more information, please visit www.suppliersuccess.com.

 

Contact

Ben Alschuler

Supplier Success, LLC

800.568.1870 ext. 103

[email protected]

 

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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