If a lender has ever rejected you for a small-business loan or other financing, you know that rejection can hurt your business’s growth and jeopardize its future. You’re not alone in that feeling. Big banks approve less than 27% of loan applications, and alternative lenders approve just 56% of applications.1 That leaves a lot of businesses out in the cold, without the funding they need to thrive.
Small businesses get denied for loans or other funding for many reasons, like poor credit history, too few years in business, or a risky industry outlook. But sometimes, you’re applying for the wrong financing from the wrong lender—or at least, that’s what Lendio believes.
That’s why Lendio works as a financing marketplace to match you with the right financing from the right lender. But does Lendio have matchmaking magic, or will it set you up with all the wrong lenders?
Let’s find out.