Need Small Business Funding? Try Lendio

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Small businesses, from startups to established businesses need capital to both operate and grow but there is a problem and the problem is big: 9 out of 10 of all commercial loan applications are rejected. This means that only 10% of all small business owners end up with the money they need to grow their business.

It’s not a enough to start a small business. Your business has to grow in to a thriving community with business that can put people to work and so far, the Federal Government has been unsuccessful in opening up credit to small business owners in a truly substantial way.

Along with only 1 in 10 entrepreneurs receiving funds, there is another problem. Matching the right lender with the right entrepreneur is hard to do by the inexperienced business owner. There are funding sources all over the world and when starting the search for capital, the entrepreneur could have as many as 40,000 choices to consider, far too many for even the most seasoned of business owners.

Lendio, formally, understands this. Since their formation in 2006, they have helped entrepreneurs secure a combined $240 million in funding and that’s only the money that they can track. In addition, they have provided educational events that help small business owners make their business more lending friendly.

Recently, fundinguniverse received $6 million worth of venture funding from Highway 12 Ventures and GSA Venture partners. A reorganization of the company has resulted in their new name, Lendio. Along with upgrading their website to further refine the and streamline the system, they hope to provide educational events for entrepreneurs free of charge in the future. These events currently include events like crowdpitch, an event that allows entrepreneurs to pitch their ideas to a crowd and expert judges to receive feedback.

The business model is still the same, though. For the business owner seeking funding, they first go to Lendio’s website and provide some information about their company. Using this information, the type of loan needed is ascertained by the Lendio website as well as real people who analyze the business. After that, the business owner is matched with the appropriate lender and funding is secured.

Of course, some businesses aren’t able to secure funding including the business that needed funding for their business that claims to develop systems to keep the world safe from interstellar alien attacks.

Currently, Lendio is developing new products to help entrepreneurs and lending institutions come together. If you are looking for funding for your business, try !