Lendio, an online lending marketplace for small business loans, announced on Thursday the opening of a new Lendio franchise in the Rochester area. Through the Lendio franchise program, R.J. Muto will help local businesses in the community apply for loans, review their options and secure funding, and ease the financial hurdles for small business owners. This news comes just one week after Lendio announced it opened a franchise in Detroit, Michigan.
As previously reported, the Lendio franchise program makes business loans easy by helping small business owners skip the legwork of looking for a small business loan. Franchisees understand the needs of local business owners and can guide them through the lending process. By bridging that gap between the online lending marketplace and the small business owners, Muto will help open a world of funding opportunities for business owners in Rochester’s diversified local economy. While sharing details about the new franchise, R.J. Muto, President of Lendio Regional Lending Services — Rochester, stated:
“Our local economy is undergoing a shift toward more small-to-medium businesses, which can be a tough category for businesses trying to access funding. Lendio’s solutions are not only a perfect match for our economy, but will also be a lifeline for many businesses in the Western New York area.”
Ben Davis, Chief Franchising Officer at Lendio, added:
“Small businesses make up 28 million of America’s businesses. The problem is that an estimated 80 percent of small business loan applications are being rejected by traditional banks. Our core value is to give small businesses access to capital and help fuel the American Dream. We’re excited to expand our franchise program with R.J. We share a passion to see small businesses grow and make a positive impact on the U.S. economy, and the local community.”