UV50 Economic Engines: No. 3 Lendio

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FOUNDED 2011
CITY Lehi
EMPLOYEES 395
INDUSTRY Funding/software
WEBSITE Lendio.com
FOUNDER Brock Blake, 39; Trent Miskin, 40
THE COMPANY A small business loan marketplace.

LOOKS LIKE A MILLION LUCKS (ALSO BUCKS)
1.Lendio is the nation’s largest small business loan marketplace.
2. Lendio has facilitated over 200,000 small business loans for $10 billion in total funding.
3. 2020 has been a standout — and unforgettable — year for Lendio. When COVID-19 hit and the government’s Paycheck Protection Program began, Lendio facilitated $8 billion in funding for these relief loans and became a lifeline for small businesses everywhere. “We 100% rolled the dice with the PPP,” founder Brock Blake says. “While most played it conservative, we chose to go all in. Before we knew whether we would be able to help fund any single PPP loan, we proactively hired 200-plus new team members and allocated all of our company resources to the PPP initiative.”
4. Fueled by access to capital, Lendio’s small business clients have generated an estimated $6.5 billion in economic output and created nearly 45,000 jobs nationwide.
5. In 2017, Lendio created the first-of-its-kind marketplace lending franchise program, Lendio Local. This program has expanded to 71 territories across the country.

Fortune Cookie Forecast

“Put on your sunglasses, you have a bright future ahead.” — Brock Blake, founder

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