26 May 2020

Just as some banks were overwhelmed with interest from loan applicants, others were left with cash to loan with no takers. Those banks 300 and counting were willing to pay Lendio to help connect them with small businesses looking for PPP loans.On April 15, Lendio’s platform sent Fournier an email telling him his application had been tentatively approved. Lendio in turn connected Fournier and at least 30,000 other PPP loan applicants with Ready Capital, a New York based fintech firm.

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