Utah-based financial tech company Lendio Inc. says it has arranged more than $500 million in loans to over 21,000 small businesses across the nation.
The South Jordan company takes in online applications for funding from small businesses, transmits the information to lenders selected from the 75 it works with, and then goes back to the businesses with proposed terms from those willing to fund the loans. If the business owner chooses one of the lenders, then Lendio will close the deal.
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