QuickBridge, a privately-held, leading financial services firm, announced its participation in Lendio’s turndown program. This partnership marks another milestone in QuickBridge’s commitment to providing business loans to small businesses nationwide.
As one of more than 20 participating Lendio turndown program lenders, QuickBridge provides borrowers who have been declined with other options to obtain small business loans.
Lendio is a free online marketplace that helps business owners find the funds they need to grow their business through the company’s network of more than 75 lenders. As a participating member on the Lendio marketplace platform since 2014, QuickBridge is thrilled to be one of Lendio’s early participants in its turndown program, providing small to mid-sized businesses with an even greater chance of loan approval.
The innovative Lendio turndown program allows participating lenders to refer borrowers who have been declined to the Lendio marketplace. The Lendio marketplace then works to connect business owners with a lender that can provide them with the right loan and terms for their specific business needs. Since different loans and lenders have different requirements, it’s typical for small business owners to be approved for some loans and declined for others. For example, if a borrower is turned down for an equipment loan, they may still qualify for a working capital loan.
“We’re excited to continue to deepen our relationship with Lendio through their turndown program and provide small to mid-sized business owners with access to additional financing and funding options,” said QuickBridge co-founder and Vice President of Sales, Jason Osiecki. “Most people think that if they are declined by one lender, they’ll get denied by other lenders. But in fact, different lenders have different lending requirements. I’m thrilled that we can now connect small business owners who don’t qualify with QuickBridge to other lenders who may approve their request.”
The Lendio Turndown program has facilitated more than $60 milion in loans. “Lendio is pleased to have QuickBridge as a partner in the turndown program,” said Brock Blake, CEO, and founder of Lendio. “Working closely together to provide additional funding options shows our shared commitment to customer satisfaction and to helping America’s small business owners get much-needed access to capital.”
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