Lendio Competitors - Part 1
The requested details for the lending companies Funding Circle, Lendio, and Boefly have been outlined below. Funding Circle was founded in August 2010 and is headquartered in San Francisco. Lendio was founded in February 2011 and is based in Utah. Boefly is based in New York and was acquired by ConnectOne Bank in April 2019.
(1) FUNDING CIRCLE
- Funding Circle is Headquartered in San Francisco, California.
- They have received total funding amount of $422.9 million.
- The company was founded on August 13, 2010.
- The company offers its borrowers speed and simplicity in accessing loans, with decisions rarely exceeding 24 hours in the UK, and a maximum of 3 days in the US, Germany and the Netherlands. Their online application form only takes 10 minutes to complete.
- Funding Circle boasts of offering the "most competitive" pricing to borrowers. Their prices start at 1.9% annually, for an "A+ rated loan", lasting up to 6 months in the UK.
- They assure their customers have an amazing experience and a very easy and efficient application process.
- Funding Circle currently manages investment portfolios in 4 countries globally, with the UK as its main market. Other countries the company operates in are the US, Germany, and the Netherlands.
- Although the company targets businesses operating in several sectors, they have a keen interest in businesses operating in the following sectors: property and construction, professional and business support, manufacturing and engineering, retail, IT & telecommunications. Other sectors are healthcare, leisure & hospitality, wholesale, transport & logistics, and automotive.
- Lendio is headquartered in South Jordan, Utah.
- The company was founded on February 10, 2011.
- Since its establishment, Lendio has received $53.5 million in funding.
- This company offers small business owners an easy application and document uploading process that only takes 15 minutes to complete.
- They also offer borrowers access to over 75 leading lending organizations, including companies like PayPal, American Express, Bank of America, and Mulligan Funding. The company states that approved loans and dispersed within 24 hours.
- Lendio also ensures that dedicated funding managers are assigned to each small business owner to discuss their needs and the best loan options for them. The support continues throughout the journey of the small business owner until retirement.
- Lendio focuses its investments on main street businesses such as restaurants, manufacturing organizations, dry cleaners, landscapers, as well as any other businesses that would be classified within the mainstreet business category.
- The company only operates in the US.
- Boefly is headquartered in New York, New York.
- The company was founded in 2010.
- They have received total funding amount of $53.5 million.
- The company offers borrowers a fast and easy single application process with no "loan amount restrictions".
- They help borrowers save time on their loan applications by matching them directly with the most suitable lenders.
- They expose borrowers to a large pool of 5,000+ investors, including banks and individual lenders.
- As an added perk, the company helps borrowers put together an attractive loan package, and provides relevant resources for creditworthiness documentation.
- BoeFly mainly targets businesses in six sectors, which are hotel, manufacturing, retail, restaurant, commercial real estate, and services.
- The company only operates in the US.
We commenced our research for the required information on the website of each of the listed companies. There we were able to retrieve information on each company's value proposition. Regarding the target markets of the companies, we made use of information found on each company's website where available, or in other sources such as press releases. For other details such as founding date, company headquarters, and funding amount, we made use of the LinkedIn and Crunchbase pages of each company.