Lendio, a free online loan marketplace targeting small business owners, has found great success in the current gig economy, impacting hundreds of thousands of small business owners across the U.S. Claiming over 30,000 to 50,000 customers per year, Lendio specializes in smaller loans, ranging from $30,000 to $35,000. Their technology makes it so entrepreneurs know if they are approved for a loan with in 24 to 48 hours, revolutionizing the way loans are processed.
Interfacing with around 100 different banks, Lendio uses artificial technology to automate a bank’s lending process and strategizes so an application is sent to the bank most likely to approve said loan. Listen as Lendio Co-Founder and CEO, Brock Blake, and CFO, David Bedell, discuss the company’s founding story, why they switched from a focus on equity capital to debt, and the potential effects of a recession on the financial industry.