Small business lending platform Lendio announced on Wednesday it formed a partnership with Supplier Success, LLC to provide minority and women business owners access to transparent lending rates and respectful business practices. The Detroit-based company is notably focused on providing working capital solutions and helping to improve minority and women business owners’ access to capital.
“By joining forces with Supplier Success, we’re able to expand our capabilities to provide minority business owners easier access to financing. It’s a pleasure to be working together with Louis Green and a company that shares the same vision in providing opportunity to a country that’s continuing to become more diverse.”
Louis Green, CEO of Supplier Success, added:
“Lendio’s combination of user-friendly technology and end-to-end service makes them an ideal partner for us, and for the entire diverse business community. Minority and women business owners describe access to capital as their number one barrier to growth. We believe this partnership will go a long way toward addressing that issue.”
The partnership with Supplier Success comes less than two months after Lendio announced that to date it raised $250 million in funding for over 10,000 small businesses. Lendio recently declared its support for the SMART Box initiative, which was developed by members of theInnovative Lending Platform Association (ILPA). Blake at the time noted:
“As leaders and stewards in this industry, we feel it is imperative to rally around a common ground of best practices so the responsible flow of capital to Main Street continues and expands. Providing business owners with the most complete information is one way to make sure that happens.”