Small business lending marketplace Lendio has surpassed the $500 million mark to more than 21,000 small businesses across the United States on the heels of 141 per cent loan growth over the last fiscal year. Available across the United States and parts of Canada, the Lendio marketplace provides access to more than 75 small business lenders.
Lendio said consumer demand is high across the country, with particularly impressive numbers coming from the heartland and the south.
“Small businesses create the lion’s share of economic growth and jobs in this country,” founder and CEO Brock Blake said. “Lendio is proud of the impact that $500 million in business loans is having on the American economy. From restaurants and retail shops, to plumbers and landscapers, our team is passionate about providing the access to capital to help these businesses grow, recharge and thrive.”
- Average loan size is $26,873.
- Top five funded industries are construction, restaurants, retail, healthcare and manufacturing.
- 70 per cent of businesses get funded within five days of application.