The agreement will widen Lendio’s reach to SMEs across the US.
The small business loans marketplace Lendio has forged a strategic partnership with GoDaddy marketplace, an online company that provides users with domain registration services. The agreement aims to support the funding needs of more than 14 million small business owners and entrepreneurs across the US.
Lendio will increase its reach and its potential customer base and GoDaddy will be able to expand its range of small business services, providing existing users with access to Lendio’s business loans.
Founded in 2006, Lendio plugs small businesses in need of funding into the best of the US alternative lending scene. The platform works as an aggregator which is partnered with high quality lenders and provides entrepreneurs with a diversified offering of loans, based on the health of their business.
Brock Blake, CEO and co-founder at Lendio, commented the partnership:
“Small businesses are the lifeblood of our communities. For many, finding and securing capital is a consistent challenge and tapping into the lending supply chain can be daunting. By joining GoDaddy’s marketplace and simplifying the loan process for its customers, we believe this will help strengthen small business, create jobs and fuel economic growth.”
Last February, Lendio unveiled its 2015 results which were headlined by over $128m of funding facilitated for a grand total of 5,136 businesses. The c. $128m of funding matched represents a 1,034% growth on the previous year, during which a little over $12m in business finance was facilitated.
GoDaddy is the latest partner to participate in Lendio’s partnership program. The company claims to be the largest domain name registrar and has over 14 million of customers with 62 million domains under management.
GoDaddy Vice President Jeff Lulenski added:
“GoDaddy is always looking for ways to better serve our customers and we know financing can be a big issue. Lendio works with small businesses to provide much needed resources and we hope this agreement provides an even more robust solution to our customers. It just made sense for us to work together.”