SMBs need funding and are often underserved by traditional financing institutions. Recent studies show that loan approval rates for small businesses applying to large banks are only 13.8%. SMBs often don’t know where to find funding and are overwhelmed by researching solutions.
Offering Lendio Embedded Lending within your platform allows you to solve a critical need for your customers while unlocking a new revenue stream and increasing customer lifetime value.
Embedded Lending has flexible implementation options to support any company with an authenticated experience that is accessed by small business owners.
Great candidates typically have a large customer population of small business owners who engage regularly with their authenticated experience.
Verticals we see high engagement from include:
- Human capital management platforms
- Payroll platforms
- Technology providers serving small businesses
- Retail platforms serving small businesses
- Insurance, taxes, and others
Implementation, Legal, and Go-To-Market can occur within 3-12 weeks depending on requirements and approval timelines.
Installing the Embedded Lending software requires a few simple steps. First, install the embedded lending widget with a JavaScript code snippet. Then connect to our authentication API endpoint to securely share customer data, and to pre-fill the application if desired. The last step required is to set up a CNAME record to point to Lendio’s production servers.
Lendio’s embedded application takes less than 15 minutes to complete on average. The application is completely digital and self-service. Our team of experts is available to support your customers as needed through the application process.
Currently, term loans, lines of credit, and working capital advances are available through the Embedded experience. Product offerings will continue to increase as more lenders and funders join the Embedded platform.
The user interface is configurable, meaning partners can easily change the fonts, colors, and graphic elements of the embedded experience to align with their brand.
Embedded Lending partners receive dedicated account managers who are supported by engineering, product, and marketing resources to ensure a seamless implementation.
Ongoing support includes both informal ad-hoc consultation as well as formal quarterly reviews of product performance and recommendations for optimization.