Lendio Report Shows How its Diverse Network of Lenders Converged to Secure $8 Billion in PPP Loan Approvals

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Lehi, Utah, Aug. 19, 2020 (GLOBE NEWSWIRE) — Lendio, the nation’s leading marketplace for small business loans, today released a report detailing the breakdown of Paycheck Protection Program (PPP) loan approvals facilitated by its network of lenders. More than 100,000 small business owners utilized Lendio’s online application to access the economic relief funds made available through the SBA.

Over the course of the last four months, millions of small business owners have sought economic relief in the form of PPP loans due to COVID-19. During that time, more than 300 lenders joined forces with Lendio to facilitate $8 billion in PPP loan approvals. These lenders include traditional banks, credit unions, non-bank lenders, fintech lenders and non-profit lenders. The report  shows the PPP loan funding distribution through the Lendio platform in round one, round two and over the entirety of the PPP across different types of financial institutions.

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