A straightforward conversation with Brock Blake – CEO, Lendio
This morning Karl Woolfenden, Publisher of Business Class News and Host of Link’d AM talked openly about what the options are for small businesses and he asked some question which if your are small business owner may find Brock’s answers very helpful and educational.
With the coronavirus impacting small businesses across the country, the CEO of Lendio, Brock Blake, sheds light on what small businesses can and are doing to secure loans from the range of banks, lenders and the SBA. Lendio operates the largest small business loan marketplace in country, processing 200-300 loans a day…restaurants, theatres, gyms, small retailers and manufacturers, etc.…with over 75 lenders.
Through tech and loan specialists talking directly with small businesses, Lendio can share how lenders and small businesses are reacting to and navigating the current climate. The demand over the last few days has skyrocketed. He can also connect you with local Lendio loan specialists in Seattle and other hotspots across the country, as well as small businesses.
During President Trump’s Oval Office address, Lendio saw a 75% increase in queries, and a 133% increase in loan applications from the same time the previous week. Overall, the Lendio marketplace has facilitated more than 100,000 loans totaling over $2 billion—generating an estimated $6.5 billion in economic output that’s created nearly 45,000 jobs.
Brock discusses the importance of small businesses finding the right type of loan from the lenders best suited for them, which will be essential in navigating a recession. He can also discuss Small Business Administration loan options. Lendio helps small business owners with any option within the SBA they need—whether it’s a small working capital loan for a growing business, the purchase of a new office space or manufacturing facility, or an equipment upgrade. Lendio represents SBA Express, Micro 7a, 7a and 504 loans, among others.