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Lendio Announces Strong Market Adoption For New Business Loan Production Tool

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Lendio Announces Strong Market Adoption For New Business Loan Production Tool

SALT LAKE CITY, April 22, 2014 /PRNewswire/  Lendio, the online leader* in helping business owners secure financing, announced today strong sales and users for its SaaS (Software-as-a-Service) solution, Lendio Pipeline.

Launched into beta in October 2013, Lendio Pipeline was designed to help business loan officers and departments improve their efficiency and effectiveness to close more business, increase visibility into the business loan production process, and build successful long-term relationships with small business borrowers.

"Lendio is proving to be a very useful tool to help our loan officers keep track of all their interactions with our small business loan customers," said Jarod Phillips, Director of Market Development at Bank of Idaho. "We haven't been using Lendio very long, but our loan officers like it and feel like it will help them further develop their portfolio of small business loans. It's nice to see our lenders ditching the legal pads and leveraging the right technology to better manage their client relationships."

Lendio worked closely with business lending departments to develop a solution that tracked loan production from contact to funding. The result, Lendio Pipeline, is a first of its kind solution that is built from the ground up to address the specific needs of business loan departments. Click here to see how Lendio Pipeline works to improve business-lending operations.

"Lendio is a great tool for managing workflow and optimizing the efficiency of our origination team," said Jer Wood, Senior Vice President at California Business Bank. "But what really sets it apart is how seamlessly it integrates into our existing process and allows us to make our first contact with potential small business loan customers within moments after hitting 'submit.' I expect this software to help us better manage the process from lead to funding as we continue to focus on technology-driven account origination."

"After years of working with banks, credit unions, and other business lending institutions, the demand for a tool to help them close more loans was apparent.  Our focus with Lendio Pipeline is to help the loan officer close more business loans by being more efficient with each customer interaction and managing their entire pipeline of deals.  In turn, it also provides the executives more visibility to the entire loan production pipeline.  At the end of the day, everyone wins," says Brock Blake, CEO and Founder of Lendio.

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