LEHI, Utah—March 5, 2024—Lendio, the nation’s leading small business financial solutions platform, announces today it has surpassed over $15 billion in funding for small and medium-sized businesses (SMBs). That equates to over 400,000 SMBs receiving loans and financing through Lendio and a network of 75 lenders in its marketplace. The need for SMB funding is a critical need, with 77 percent of small business owners saying they are concerned about their ability to access capital. A top reason for SMB failure is lack of funding or working capital. 

“Our mission is to create a world where small businesses survive and thrive,” said Brock Blake, CEO and Co-Founder of Lendio. “Over the past decade-plus, we’ve been able to work with incredible businesses to fuel their dreams, from a laundromat and a trucking business to bakeries and professional services firms. These are the shops and businesses that line the streets of our communities and are major contributors to our local economies. To surpass $15 billion in funding to these critical SMBs is an exciting milestone and a number we continue to grow and add to in pursuit of our mission.” 

Lendio’s marketplace includes 75 lenders and through extensive AI and machine learning can match SMBs, through one application completed in 15 minutes or less, with the funding offers. Additionally, Lendio’s referral partnerships with household names like SoFi and Dun & Bradstreet help drive small businesses to the marketplace.

“Lendio is a pioneering, market-leading fintech company, and has served as one of our best referral partners, helping to propel us to greater success as one of the nation’s top small business lenders,” said Thomas G. Zernick, CEO of BayFirst National Bank. “Lendio’s marketplace has provided the platform to connect with small businesses with varying funding needs and has proven especially effective for our small-balance, sub $150,000 BOLT SBA loan program, which has taken off in recent years. As we look toward future innovation and automation, we are excited to continue our partnership with Lendio and better position us both for what comes next for small business lending.”

Lendio is continuing to expand its technology portfolio to better connect banks and financial institutions to SMBs through its lender SaaS product, called Intelligent Lending, that streamlines a bank’s ability to successfully fund their SMB customers. Ultimately, Intelligent Lending will enable increased SMB funding, contributing to solving the lack of access to capital that these businesses have faced. 

About Lendio (www.lendio.com) 

Lendio is transforming small business lending by connecting small businesses, lenders, and small business service providers through a single integrated technology platform. We are on a mission to power an ecosystem that helps small businesses survive and thrive. Lendio provides purpose-built software that automates small business loan decisioning and underwriting for both banks and digital lenders, uses AI to match small businesses to the financing offers that best meet their needs, and embeds a full small business loan marketplace directly within small business service providers’ platforms – all of which work together to get small businesses access to the capital they need to be successful.