Staples, Inc. today launched the “Staples Business Loans powered by Lendio” service to help small business owners by giving them quick and easy access to capital. Financing and cash flow are major pain points for small businesses, and Staples teamed up with Lendio, an innovative financial technology firm and the leading small business-lending marketplace, to deliver a suite of funding options that help solve these challenges.
“Staples Business Loans” is quick and simple with each business receiving individual attention. It offers more than 20 different funding options and the flexibility for businesses to use the money for whatever their business needs.
“At Staples, we’re committed to helping small business owners by providing everything they need to make more happen in their business – including funding,” said Frank P. Bifulco Jr., executive vice president, Global Marketing, Staples. “We’re excited to team up with Lendio to launch Staples Business Loans, which makes it easy for small businesses to get funding that is right for their business.”
Staples evaluated more than 30 financial services firms before teaming up with Lendio.
“Our award-winning technology curates all the best-in-class lenders across various business loan products and a wide variety of options to cover the vast majority of small business needs,” said Brock Blake, CEO and founder, Lendio. “We are thrilled to team up with Staples on Business Loans powered by Lendio and look forward to helping their customers with a range of financial products all in one place. Lendio has already helped nearly a half million small business owners.”
The current finding process for a small business is time consuming, complex and often does not result in the small business actually getting a loan. Small businesses contact at least 3 different financial institutions for help and spend an average of 33 hours applying for credit, according to the Federal Reserve Bank of New York Small Business Credit Survey, spring 2014.
The new Staples Business Loans service uses Lendio’s great technology and eliminates complexity and frustration for small businesses seeking financing. It includes:
- Broad set of funding products such as lines of credit, SBA loans, term loans, merchant cash advances, ACH advances, equipment loans, commercial real estate loans, factoring and more;
- More than twenty different funding options for loans ranging from $2,500 to $1 million;
- The ability to see all funding options available with just one application;
- Personal attention from a loan advisor to guide small businesses through the entire process;
- Impartial advice to help understand the pros and cons of each option so small businesses choose what is right for their needs;
“The new ‘Staples Business Loans’ is an amazing service that we’re pleased to offer our small business customers. Along with our recently launched More Account, an account for purchases at Staples, it’s another great example of how we’re helping our small business customers manage their cash flow and financing needs,” said Alison Corcoran, senior vice president, North American stores and online marketing, Staples. “We’re focused on providing all the products and services small businesses need.”
