LendingTree announced this week the launch of its new small business grant contest. The online lending platform revealed it is offering support in the form of a $50,000 grant to help one small business continue to grow.
“Small businesses are the backbone to the U.S. economy and the sector is growing. According to the SBA, more than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year. We know small business owners face a long list of challenges. For many, the obstacle of securing financial resources needed to grow a business claims the top spot on the list. That’s the driving force behind LendingTree’s inaugural $50,000 Small Business Grant Contest, where the winning small business will receive $50,000 to fund the needs of the growing business.”
LendingTree launched its Small Business Loan Marketplace in 2014 and stated it facilitated more than 5,000 small business loans or nearly $200 million in originations.