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Lendio by the Numbers: $250 Million in Loans to 10,000+ Small Businesses

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Small business lending marketplace Lendio released its second quarter financial results this week. The Utah-based company reached a milestone, having matched 10,000 small businesses with $250 million in loans since its 2011 launch.

In Q2 ending 30 June 2016, Lendio facilitated $55+ million in loans, $4+ million of which came through Lendio’s partnership with Staples. The $55 million represents an 86% increase over the $30 million in loans it facilitated in Q2 2015. Lendio CEO Brock Blake noted that despite “pessimism in the market” Lendio’s growth remains “strong and steady.”

Additional Q2 ’16 highlights include:

  • 2,400 new businesses funded, a 2.3X increase over Q1 ’16
  • Record number and volume of loan renewals
  • Loans funded in all 50 states
  • Top 10 states: California, Florida, Texas, New York, Georgia, Illinois, New Jersey, North Carolina, Virginia and Colorado
  • Top industries: construction, transportation, retail, healthcare, restaurant, manufacturing and automotive
  • Lendio was certified by Great Place to Work

Lendio works on behalf of small business borrowers to match them with the right loan, helping the 75 lenders on its platform reach qualified borrowers. The company partnered with American Express in April to power its merchant financing offering. In 2015, the Utah-based company facilitated $128+ million in financing to more than 5,100 businesses. Lendio debuted at FinovateSpring 2011.