SILICON SLOPES, Utah, Jan. 14, 2020 /PRNewswire/ -- Lendio Franchising recently ranked in Entrepreneur magazine's Franchise 500®, the world's first, best and most comprehensive franchise ranking. Placement in the Franchise 500® is a highly sought-after honor in the franchise industry making it one of the company's most competitive rankings ever. Lendio Franchising ranked #272 this year following rankings in both 2018 and 2019 for its outstanding performance in areas including unit growth, financial strength, stability and brand power. In the Financial Services category, Lendio Franchising ranked #1 for the third year in a row.
Lendio Franchising launched in early 2017 and has expanded rapidly to cover 80 territories across the United States. The program combines the benefits of local funding experts with its access to over 75 of the nation's top online lenders to provide loan options to small business owners who otherwise might not qualify for financing. To date, Lendio Franchising has helped local business owners around the country receive over $70 million in small business loans.
"When it comes to small business financing, no one is as in-tune with local business owners as Lendio franchisees. They are business owners themselves and can provide a personal touch to Lendio's high-tech marketplace," said Mark Cottle, Executive Vice President of Franchising, Lendio. "Our franchise owners are invested not only in the success of their own businesses, but the success of their communities. They know that by helping entrepreneurs grow, their local economies can also."
The key factors that go into Entrepreneur's analysis include costs and fees, size and growth, brand strength, financial strength, stability and support.
"Support and connection are two strong aspects of the Lendio franchise system," said Wendy Eaton, owner of Lendio Kansas City. "We have multiple avenues of direct access to the franchising team in Salt Lake City and New York. From instant communication channels to personal cell phones, everyone from our document processor to the EVP is readily available to help daily. Many of the other franchisees are also quick to respond to questions and willing to offer advice, which has proven invaluable."
Over its 41 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Lendio Franchising's position on the ranking is a testament to its strength as a franchise opportunity.
"The 500 companies on this list all have something in common: They understand what consumers want now," says Entrepreneur editor in chief Jason Feifer. "They may be an upstart in a brand-new category, or they may be a brand like Dunkin' that's ranked highly on our list for decades. But either way, making our list means they're forward-thinking, nimble, and closely in touch with their customers' needs—because in an ever-changing business environment, that's what a franchise must do to thrive."
Lendio is a free online service that helps business owners find the right small business loans within minutes. With a network of over 75 lenders offering multiple loan products, Lendio's marketplace is the center of small business lending. Certified for three years running as a great workplace by the independent analysts at Great Place to Work®, Lendio ranks on Fortune's Best Workplaces in Financial Services & Insurance and Inc.'s Best Workplaces. For every new loan facilitated on Lendio's marketplace platform, Lendio Gives, an employee contribution and employer matching program, provides a microloan to a low-income entrepreneur around the world through Kiva.org. More information about Lendio is available at www.lendio.com. Information about Lendio franchising opportunities can be found at www.lendio.com/franchise.