It now boasts a borrower in every state and has recorded its first 500-loan month.
“We’re thrilled,” said founder and CEO Brock Blake.
“It is very motivating to know that over 500 businesses will be closer to achieving their dream by getting funded through Lendio’s platform.”
The online small-business borrower says a home exterior company in Billings is the first Montana-based company to receive one its loans.
“The day-to-day demands of a small business owner are very complex – they don’t have the time to go lender to lender in search for the perfect loan,” said Lendio COO Jim Granat. “Our goal at Lendio is to simplify that process and give them the best options to get the business loan they are looking for.”
Given the typical business owner’s hectic schedule, the fact 500 have successfully received a loan in one month is a testament to an efficient application process, Granat added.
“There are millions of business owners in the U.S. that are looking for financing; our goal is to do everything we can to help each one of them.”
Lendio says its Top 5 states by borrowing volume are California, Florida, Texas, Georgia and New York.