Lendio, an online lending marketplace for small business loans, announced on Thursday the opening of its new franchise in the Detroit Metro area. Through the franchise program, Darnell Parker, President of Lendio Regional Lending Services, will help local businesses in the community apply for loans, review their options and secure funding, which notably eases the financial hurdles for small business owners.
According to Lendio, the franchise program makes business loans easy by helping small business owners skip the legwork of looking for a small business loan. The lender revealed:
“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, Parker will help open a world of funding opportunities for business owners in Detroit’s diversified local economy.”
While sharing more details about the program, Parker stated:
“I have a passion for supporting small business here in Detroit and franchising with Lendio was a perfect opportunity to help invigorate our local economy. Through the Lendio platform I am able to educate small business owners and empower them to find the loans they need to operate.”
Ben Davis, Chief Franchising Officer at Lendio, then 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 Darnell. We share a passion to see small businesses grow and make a positive impact on the U.S. economy, and the local community.”