Lendio revenue almost doubles, customers jump 168 percent


By Joey Ferguson

SALT LAKE — Online lending platform Lendio saw 168 percent year-over-year customer growth in the first quarter of 2013, according to a statement from the company.

The Utah-based company added 62 new banks, credit unions and other lender to its platform, giving customers more loan opportunities.

The company also posted a 97 percent increase in revenue growth compared to 2012.

“We’re thrilled with the record growth numbers we’ve achieved. It’s exciting to see our lender network continue to expand while at the same time provide more options for main street business owners to get the financing that they need,” said Brock Blake, chief executive officer of Lendio. “We’re grateful to our partners that support us and work so tirelessly to help fuel the American Dream and fund Main Street businesses across the country.”

Lendio provides small companies with an online service to find business loans.

Customers who use the platform are “successfully matched to financing options 85 percent of the time,” according to the statement.

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