Lendio Franchise Announced in Chicago to Expand Access to Capital for Local Businesses

Franchise owner Mabroor Parekh will help connect small business owners with financing opportunities to operate and grow

CHICAGO – April 23, 2020 – Lendio, the nation’s leading marketplace for small business loans, today announced the opening of a Lendio franchise in Chicago. Through the Lendio franchise program, Mabroor Parekh will help local businesses apply for loans, review their options and secure funding, easing the financial hurdles for entrepreneurs.

Lendio is an online service that helps business owners find the working capital they need through its network of over 75 lenders. Funding options include SBA loans, startup loans, equipment loans, commercial real estate loans and more. Lendio has facilitated more than $2 billion in loans since its inception.

The Lendio Franchising program matches small business owners with the nation’s top online lenders in a way that has never been done before, through funding experts in their local communities. Franchisees are small business owners themselves, and as such, understand the needs of local business owners and can guide them through the lending process. In Chicago, Parekh will introduce small business owners to financial opportunities that they may not know exist.

“There are so many entrepreneurs providing valuable services to this vibrant community. Too many don’t appreciate how fast and simple it can be to secure additional financing to grow their dream,” said Parekh, President of Lendio Chicago. “I’m eager to connect these small business owners with the value that Lendio provides.”

Through strategic partnerships with community banks and SBA lenders, Lendio Chicago will expand access to capital to small business owners in all of the area’s growing industries—from lines of credit for contractors to startup funding for restaurants. In addition to being backed by the largest business loan marketplace in the country, Parekh’s franchise will benefit from Lendio’s strong, built-in supports, marketing campaigns and extensive hands-on training with a wide array of financing options and loan products.

“Roughly eighty percent of small business loan applications are being rejected by traditional banks that aren’t set up to serve small businesses,” said Mark Cottle, Executive Vice President of Franchising at Lendio. “Mabroor’s experience in banking, along with his experiences as an immigrant to this country, will help him open the eyes of small business owners to the opportunities they can pursue. Too many aren’t even aware that there’s anywhere other than a traditional bank that can provide lending.”

For more information on how to join the Lendio franchise program, visit: https://www.lendio.com/franchise.