Lehi, Utah, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Lendio, the nation’s leading marketplace for small business loans, today announced it ranked #396 on Deloitte’s 2020 Technology Fast 500 ™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America.
Focused on helping small business owners find and manage the working capital they need to grow, Lendio is a mission-driven, values-based small business solutions provider. Brock Blake, CEO and co-founder of Lendio, credits the company’s growth to its people and their commitment to helping small business owners succeed.
In an unprecedented year that saw one out of five small businesses shut their doors, demand for government relief funding reached unprecedented levels. Lendio’s application and loan matching technology helped to facilitate Paycheck Protection Program loan approvals for more than 115,000 business owners. Additionally, Lendio provided the technology for its financial institution partners to launch a digital PPP loan application. These services proved to be invaluable to small business owners as well as financial institutions in connecting the two parties together to facilitate loans faster and more effectively.
“Lendio’s growth and its impact on the small business community are both the result of a true team effort,” said Blake. “From our innovative product and development teams to our dedicated loan advisors to our customer-focused marketing team, everyone at Lendio is driven by a desire to help small business owners achieve their American dream.”
“For more than 25 years, we’ve been honoring companies that define the cutting edge and this year’s Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives,” said Paul Silverglate, vice chairman, Deloitte LLP and U.S. technology sector leader. “We congratulate this year’s winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic.”
“Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “We extend sincere congratulations to these well-deserved winners — who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible.”
Lendio previously ranked No. 378 on the Technology Fast 500™ list in 2019.
About Deloitte’s 2020 Technology Fast 500™
Now in its 26th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2016 to 2019.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Lendio is the nation’s leading small business loan marketplace. With its diverse network of lenders, Lendio enables small business owners to apply for multiple loan products with a single application. To date, Lendio has facilitated over 200,000 small business loans for $10 billion in total funding, including $8 billion in PPP loan approvals as part of government COVID-19 relief. Lendio is a values-driven organization striving to provide equal access to capital to underserved communities and America’s smallest businesses. For every new marketplace loan Lendio facilitates, Lendio Gives—an employee-contribution and employer-matching fund—provides a microloan to a low-income entrepreneur around the world. More information about Lendio is available at www.lendio.com.
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