Small Business Borrowing Down in June—Lowest Level Since October 2011

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Lendio helping small business owners across the country buck trend

Despite recent news from Thompson Reuters/PayNet Small Business Lending Index suggesting small business lending on the decline (the lowest level since October 2011), Lendio successfully introduces thousands of small business borrowers to lenders in June. The percentage of small business owners matched to lenders up 127 percent in June compared to October.

“Banks, credit unions and other lenders have money for small business,” said Brock Blake, Lendio CEO. “The challenge is making the right connection for the small business owner and the right lender. Borrower’s aren’t constrained by their local bank’s footprint anymore—they have a lot of options. They just might not know about them. Our goal is to make sure every small business owner in the country knows all the options available to fuel their American Dream.”

Lendio is bullish on the prospects for small business owners, and their ability to acquire the cash they need for working capital and expansion. Although the challenges of financing Main Street businesses are a way of life for many small business owners, many financial institutions have money to lend. Lendio makes a vital connection for small business owners and the financing they need for operations and growth—dramatically simplifying the process for both borrowers and lenders.

“Lendio was a simple system and easy to understand, and they were able to point us in the right direction,” said Rob Scott, CEO of XSI, a supplemental sports insurance provider and owner of a sports and fitness facility for basketball, volleyball and a number of other sports. “With the great options provided by Lendio, we can take our business to the next level.” (See

Business owners across the United States can take advantage of this platform by creating a free Lendio profile. Within minutes, the business owner will be matched to a business loan option that can help their business grow.

About Lendio
Lendio (http://www.lendio.com) makes business financing simple by matching qualified small business owners with active banks, credit unions and other lending sources. Through a proprietary matching technology, Lendio instantly helps business owners shop and compare thousands of business loans in one place. Lendio is a free service to business owners and is venture-backed by Highway 21 Ventures and Tribecca Venture Partners. For more information contact Lendio at press (at) Lendio (dot) com.

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Ty Kiisel
Lendio
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