Small business loan marketplace Lendio today announced the opening of a new Lendio franchise in the Gainesville-Ocala, Florida region. Through the Lendio franchise program, Luis Salazar 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, and commercial real estate loans. 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 helps 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, Salazar will help open a world of funding opportunities for business owners in the Gainesville-Ocala region’s diversified local economy.
As a former small business owner and veteran, Salazar is passionate about the American dream of business ownership.
“Born outside of the U.S., I’ve seen firsthand how hard it is to grow a business in other parts of the world. I’m inspired by small business owners who are working hard to make it on their own. I don’t want to just approve or reject loans; I want to help small business owners succeed in their community and share what I know, one-on-one.”
Mr. Salazar’s Gainesville-Ocala 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, Lendio chief franchise officer. “Lendio’s core value is to give small businesses better access to capital, and we’re excited to expand our franchise program with Luis. We share a passion to see small businesses grow and make a positive impact on the U.S. economy, and the local community.”