Small business loan marketplace Lendio today announced the opening of a new Lendio franchise in New Hampshire’s Seacoast Region. Through the Lendio franchise program, David Hartnett will help local businesses in the community apply for loans, review their options and secure funding, easing the financial hurdles for small business owners.
Lendio is an online service helping business owners find the working capital they need to grow their business through the company’s network of more than 75 lenders. Funding options include SBA loans, startup loans, equipment loans, commercial real estate loans and more. In the last fiscal year alone, Lendio facilitated more than $300 million in funding.
Since 2008, accessing financial capital for small business owners has been difficult. According to Edelman Intelligence, more than 40 per cent of small business owners need additional funding for their business each year. Roughly 70 per cent of small business owners aren’t aware that alternative lending sources exists.
The Lendio franchise program makes business loans easy by helping small business owners skip the legwork of looking for a small business loan. Franchisees understand the needs of local business owners and can guide them through the lending process. By bridging that gap between the online lending marketplace and the small business owners, Mr. Hartnett will help open a world of funding opportunities for business owners in the Seacoast Region’s diversified local economies.
“I have been a business owner my whole life and when I was younger and first starting out I found it difficult to secure funding with banks,” Mr. Hartnett, president of Lendio Regional Lending Services — Seacoast Region, said. “Lendio simply wants to help small businesses find loans and we have many options for our customers. Having felt the funding pains as a small business owner myself, I am eager to help people secure the funding they need.”
Lendio Seacoast Region will provide greater access to capital to all of the area’s growing industries—from equipment loans for restaurants to startup funding for software companies—and strategic partnerships with community banks and SBA lenders to help serve a broader base of small business owners. In addition to being backed by the number one lending platform in the country, Mr. Hartnett’s franchise will benefit from Lendio’s strong, built-in supports, marketing campaigns and extensive hands-on training with a wide array of financing options and loan products.
“Eighty per cent of small business loan applications are being rejected by traditional banks,” said Ben Davis, chief franchising officer at Lendio. “Lendio’s core value is to give small businesses better access to capital, and we’re excited to expand our franchise program with David. We share a passion to see small businesses grow and make a positive impact on the U.S. economy, and the local community.”
For more information on how to join the Lendio franchise program, visit: https://www.lendio.com/franchi se.