300+ Business Loans Issued through Innovative Partnership

April 18, 2018
04_18_ Lendio

Access to capital is crucial for helping our 2+ million business customers start, grow and thrive. But financing through traditional lenders can be difficult, frustrating or even impossible in some cases. To help make financing easier, in June 2017, Comcast Business partnered with Lendio, a leading online marketplace for funding options.

In its first seven months, this innovative partnership has resulted in more than 300 loans to Comcast Business customers, with a total loan volume of more than $6 million.

“We are delighted that the partnership between Comcast Business and Lendio has opened up a world of funding options that give our customers quick, easily access to capital so they can grow and expand their businesses,” said Philip Keith, Executive Director, New Business Marketing, Comcast Business. “Lendio’s mission to provide small business owners with options, speed and trust throughout the financing process goes hand-in-hand with Comcast’s commitment to technology and service.”

Through the partnership, Lendio tailors a wide variety of loan options — from ACH to equipment loans, and lines of credit to term loans — to Comcast’s customers. Those customers get streamlined access to Lendio’s marketplace and network of more than 75 lenders, where they can get matched with the financing they need.

“Comcast Business has been an excellent partner in helping its customers find the right lending solutions,” said Lendio CEO Brock Blake. “Lendio has loved hearing the positive response from Comcast customers who needed working capital and now have a fast and friendly place to turn.”

Solving Seasonal Cash Woes

One Comcast Business partner used the partnership with Lendio to quickly obtain the financing he needed to solve his cash flow problems and save his business.

Porters Bar and Grill in Boston is a lively neighborhood watering hole for concert-goers and sports fans alike. Located near TD Garden (home of the Celtics and Bruins), the pub is a popular destination for after-hours visitors looking for comfort food and local beer. With its busy season heavily concentrated between October and April, the lean summer months present a tough cash flow situation for the business. Owner Scott Nogueira has been working hard for years to make up the difference, but due to some high interest loans, the debt “hole” as he calls it, continued to grow. Tired of being turned away by traditional lenders (including the bank where he’s had an account for 17 years), Scott was introduced to Lendio through Comcast Business.

Not only was Nogueira approved for financing through Lendio, he received the funds in a matter of weeks, not months. He is now positioned to earn more than $1 million in annual revenue.

“Comcast Business has been my trusted internet and cable provider for nearly five years, and the outreach about their partnership with Lendio couldn’t have come at a better time,” said Nogueira. “Lendio was good at recommending ways to float enough cash to get us through and save my business. Without financing from Lendio, Porters would not have survived.”

For more information about how to obtain financing for your business, visit Lendio.com.

Partnership between Comcast Business and Lendio opens up a world of funding options for small businesses.

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