Apr 28, 2020

Lendio Partners With Mindbody to Expedite Relief Funds for Its Small Business Customers

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Through this strategic partnership, Lendio will provide streamlined access to SBA disaster relief funds for fitness, wellness and beauty businesses

Lehi, Utah – April 28, 2020 – Lendio, the nation’s leading marketplace for small business loans, today announced a partnership with Mindbody, the leading technology platform for the wellness industry. Mindbody’s software solution links hundreds of thousands of passionate fitness, wellness and beauty professionals to the millions of customers they serve. Through this strategic partnership, Lendio will be the exclusive PPP partner for Mindbody’s U.S.-based customers.

With thousands of its customers across the U.S. enduring temporary closures and economic uncertainty amid the COVID-19 pandemic, Mindbody has partnered with Lendio to expedite the application process for relief funds through the SBA.

As part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the federal government created the Paycheck Protection Program (PPP) and set aside $349 billion to help small businesses. With these funds exhausted, Congress has earmarked an additional $310 billion for the program. In the first round of the program, Lendio facilitated $5.8 in PPP loans for more than 70,000 small businesses across the U.S.

“It’s vitally important that we move quickly to put the second tranche of funds into the hands of small business owners, especially those in the hardest-hit industries,” said Brock Blake, CEO and co-founder of Lendio. “Lendio is pleased to be partnering with Mindbody to help facilitate funds for its health and wellness clients who are doing everything they can to weather this global pandemic. Lendio looks forward to helping these business owners preserve jobs, ride out the economic storm and remain in business for years to come.”

“The financial impacts of COVID-19 are being felt by small businesses around the world, including Mindbody’s valued customers,” said Rick Stollmeyer, Mindbody CEO and co-founder. “Our partnership with Lendio will allow us to easily connect these hardworking entrepreneurs with PPP loans to provide much-needed financial relief.”

About Mindbody

Mindbody is the leading technology platform for the wellness industry. Local entrepreneurs worldwide use Mindbody’s integrated software and payments platform to run, market and grow their businesses. Consumers use Mindbody to more easily find, engage and transact with wellness businesses in their local communities. For more information on how Mindbody is helping people lead healthier, happier lives by connecting the world to wellness, visit mindbodyonline.com.

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 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.

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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