Founder and chief executive officer of a free online loan marketplace in the US Lendio, Brock Blake has financed more than 100,000 small businesses with over more than $2 billion loan to help them grow and expand. With the help of the adaptive platform of Landio that leverages machine learning, Brock Blake is focused on creating a revolutionary path for small business owners by making business loans easily accessible and effective in the long run for their companies. Several honors have been given to the company Lendio, recognition by glass door as one of the top 50 workplaces and a certificate of great place to work by great workplace. Lendio has also been given a place In the list of Fortune’s best workplaces providing financial and insurance services.
The early life of Brock Blake involved hopping from one venture to another as he started his way from the paper route and moved higher by starting his own soccer camp business. He also ventured across the market of scooters in China purchasing them and selling them locally after which he stepped into the world of business and financing.
In 2006, Blake founded FundingUtah, which was renamed FundingUniverse in the later years before Lendio was founded. He himself encountered the struggles of financing in small businesses through his experience. As the world entered the global financial crisis in 2008 it was immensely difficult for the small businesses to seek capital from the US banks.
The vision behind establishing his own financing and funding platform was to provide small business owners ease to finance their startups and small businesses without struggling to fill out long applications and linger around the bank every now and then.
With the help of Lendio’s platform, small business owners can fill out online loan applications by browsing several loan products with the network of more than 75 lenders. With Lendio, financing is done quickly and easily. Blake has invented a pitching event called CrowdPitch in the style of this new era’s speed dating system allowing small businesses to pitch their deals at the best price.
Many young entrepreneurs or business startups fail to gather enough collateral that can be used to get business loans from the banks. Where business requires funding at every step of the journey for starting up on a new project, carrying out expanding operations, or recovering from the financial loss, business loans come as a life saver that teach the entrepreneurs to work out the plan and keep moving forward.
With this aim in mind Lendio helps early startups and small businesses to manage the cash flow by providing them the funding and loans. According to your budget and business requirement you can choose from a multiple of loan products that are given as follows.
● Short-term loans
● Business line of credit
● Cash advance
● Equipment financing
● Startup business loans
● SBA loans
● Business Acquisition loan
● Accounts receivable financing
With Lendio a lending marketplace you can compare options to ensure that alone matches your budget and business requirements in a perfect way. Such comparable loan options allow an entrepreneur to not get burdened by the loans and pay them out easily. Such a platform works in the favor of the borrower as they are free to go through the interest rates, loan terms, size, and speed of capital of multiple options to ensure the maximum satisfaction from the choice they make.
Maximum benefits for your small business
With ready to serve capital with the landers at lend your the procedures of financing alone get streamlined. When you are considering financing for your small business you must know about the types of financing for small businesses and choose wisely the one that can actually benefit your business in the long-term.
Debt financing, bootstrapping, crowdfunding, and venture capitalist are your four options to leverage out cash for your early startup situations. Where debt financing sounds similar to traditional small business loans it offers a wider scope and secured funding. Fundings like business line of credit, SBA loan, short term loan, cash advance, business credit card, commercial mortgage, equipment financing, etc are covered under debt financing.
For the people who have personal savings or some type of lineage that they can use to start their entrepreneurial grind from the start as the traditional way is known as bootstrapping. With advancements in technology crowdfunding seems an interesting concept for entrepreneurs to harness funds through online platforms. Venture capitalists is another form to finance your business, if your goal is to expand it and make it acquired by the team of thorny nerds.
Concept for the new business model
While working at FundingUniverse, Brock Blake saw that almost 98% of the business ventures were getting nothing out of the connections with VC and angel financing over which his cofounder, Trent and he paired to come up with the idea of Lendio. With Lendio they gathered a team of secured lenders to build connections with borrowers resulting in a streamlined management of loans with transparent networking.
As the platform mode forward several optimisation and testings were done to create a supportive environment for the new business models. Skilled and talented team members started incorporating as the building of Lendio expanded to serve and push new business Ventures and company goals.
Strong collaborative team
Lendio nurtures passionate and creative minds that help SMBs grow and expand their reach at a global level. Adaptive loan marketplace of Lendio saves your time and efforts, as the process goes down to a single application that can be filled in 15 minutes for which you avail 75+ vendors.
Skills team of experts is always on board to guide you throughout the application process and help you understand the advantages and disadvantages of different types of loans and deals you envision to enter.
Path of success for Lendio
Brock Blake directs the reason behind his company’s success to the creative brains of their team who are devoted to the job they perform. The greatest accomplishment of land York watches serving 100,000 small business owners with more than $2 billion capital to support their big ideas, has been made possible by them all.
Lendio is constantly evolving and expanding with innovative ideas to make funding and financing for the small business owners not a burdensome, but an easier process. The PPP loans or pay check protection program launched by the organization recently is one such example that provided emergency relief funds during the adverse effects of global coronavirus pandemic.
Lendio’s team is highly focused not only on building up the dreams and adventures of other passionate and thriving new entrepreneurs, but also by serving for the good through charitable programs. To support low income entrepreneurs micro loans are provided by the team to help them scale up. Charitable initiative has also been taken to end the gender gap and encourage female entrepreneurs.
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