Lendio Offers Franchise Opportunities to Serve the Small Business Financing Market

The Small Business Administration recently released a report that shows it's still tough for small business to get the financing they need. However, alternate solutions like Lendio are filling the gap. In the last 18 months, this online franchise program with a community face to face element has placed $16 million in loans with over 500 small businesses. Small Business Trends spoke with Mark Cottle, Executive Vice President of Franchising at Lendio, to find out more.

The company was founded in 2011 as a way to offer small business owners a quicker way to get funded. They have a three-pronged strategy that includes direct marketing, partnerships with companies like American Express and franchises aimed specifically at underserved segments of the small business population.

"This marketplace lending franchise program works to reach Main Street businesses in smaller regions and local communities," Cottle says. "Lendio franchisees are networking with accountants, attorneys and chambers of commerce in their areas to provide loan options to their small business clients."

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