Mar 17, 2020

Lendio Tops $2 Billion in Small Business Loans


The online lending marketplace has facilitated over 100,000 loans through its high-tech, high-touch approach to small business financing

Lehi, Utah – March 17, 2020 – Lendio today announced it has facilitated over $2 billion in loans to small businesses across the U.S. The largest small business financing marketplace in the country, Lendio has originated over 100,000 loans through its unique combination of data science, leading technology and personalized expert guidance. Fueled by this access to capital, Lendio’s customers have generated an estimated $6.5 billion in gross economic output and created nearly 45,000 jobs nationwide.

Founded in 2011 by Brock Blake and Trent Miskin, Lendio’s online marketplace includes offerings from more than 75 of the nation’s top online lenders, banks and specialty lenders. To apply, small business owners complete a 15-minute online loan application that is processed by Lendio’s machine learning algorithms and matched with a pool of suitable lenders. Lendio’s team of loan experts reviews these options with business owners and facilitates a loan that works best for both the entrepreneur and the lender—often within 24 hours.

“My co-founder and I started Lendio because we saw that the traditional loan application process was daunting, time-consuming and ineffective for most small businesses,” said Brock Blake, CEO and founder of Lendio. “We understand the critical nature of access to capital for small businesses, both during slow times and during periods of growth. Lendio is proud to be a trusted facilitator of over $2 billion in capital to date, and we remain committed to making financing simpler for the millions of small businesses that fuel our economy.”

The number of small business owners seeking credit solutions from online lenders and marketplaces continues to rise, according to the Federal Reserve Banks’ 2019 Small Business Credit Survey. Nearly one in three small business loan applicants turns to an online lender to meet their financing needs. Business owners report the speed of decision making and their perceived chance of funding as the top reasons they apply to online lenders.

One such business owner is Cindy Imperatore, owner of Bossy Bridle, a specialized equestrian equipment retailer. Imperatore started her business as a side gig, selling tack from a popular equestrian brand to local barns. When she decided to scale her venture, she used a loan to develop her first website and branch into selling other brands.

“Once I started working with Lendio, the ability to bring in other brands really changed for me,” said Imperatore. “They worked so quickly, and so efficiently that we’ve never been left in a position where we’re hungry for capital, so to speak. Every rep has always had my back in terms of looking for the best rates for me, and also an eye toward building my credit as a business.”

Lendio recently secured $55 million in capital, including $31 million in equity led by Mercato Partners’ Traverse Fund and a $24 million debt facility from Signature Bank. This funding enables Lendio to increase the scope and precision of its loan marketplace while developing further integrations with its newly-launched bookkeeping platform, Sunrise.

“We at Lendio have a deep passion for helping small business owners get access to capital to fuel their dreams. Investing in new technologies is a big part of that,” said Blake. “Lendio’s high-tech, high-touch approach to small business lending will continue to be a priority as we develop cutting-edge financing solutions that boost small business success rates.”

About Lendio

Lendio is a free online marketplace that leverages machine learning to help business owners find the right small business loans within minutes. With a network of over 300 lenders offering multiple loan products and over 200,000 small business loans facilitated, Lendio’s marketplace is the largest in the country and the center of small business lending. Based in the Silicon Slopes of Lehi, Utah, Lendio was recently recognized by Glassdoor as one of the Top 50 Workplaces and has been certified for four years running as a great workplace by the independent analysts at Great Place to Work®. In addition, Lendio ranks on Fortune’s Best Workplaces in Financial Services & Insurance and Inc.’s Best Workplaces. For every new marketplace loan facilitated on Lendio’s platform, Lendio Gives, an employee contribution and employer matching program, provides a microloan to a low-income entrepreneur around the world through More information about Lendio is available at Information about Lendio franchising opportunities can be found at

About the Author

Melanie King

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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