SOURCE: Dealstruck

Dealstruck

November 24, 2015 09:30 ET

Dealstruck and Lendio Release State of Online Lending Industry eBook

CARLSBAD, CA--(Marketwired - Nov 24, 2015) - Dealstruck, the online direct small business lender, and Lendio, the online small business lending marketplace, today announced the release of a recent joint eBook, "Small Business Lending in the Digital Age," focusing on strengths, weaknesses, and projections regarding the online small business lending industry.

"Small businesses are the backbone of the U.S. economy, but the past decade has proven to be a difficult landscape for small business financing," stated Ethan Senturia, CEO of Dealstruck. "We created this eBook to help shed some light on why banks have shied away from smaller loans in recent years, and to show how the online industry has grown to fill the gap." 

"This eBook is designed to offer a better understanding of what small business financing looks like in today's market for both finance industry professionals and small business owners alike," mentioned Brock Blake, CEO of Lendio. "We were pleased to partner with Dealstruck to provide an overview of the trends in the online lending industry." 

Some of the highlights in the eBook include the following:

  • Since 2008, banks have shifted focus of small business loans to those in excess of $1 million, but the majority of small businesses are looking for $250,000 or less
  • A gap of $550 billion has been created as a result of banks' focus on large small business loans
  • Online lenders have stepped up to the plate to service small businesses that aren't in the market for traditional or SBA loans
  • Increased interest in the online lending industry prompted U.S. Treasury to release a Request for Information from industry players in August of this year
  • Online lending is a segment of the finance industry that will continue to grow, giving small businesses seeking $550 billion -- that would otherwise have nowhere to turn for funding -- access to business capital

Download your copy of the eBook here.

About Dealstruck
Dealstruck is an online direct lender and the first to offer multiple products -- including flexible term loans and multiple line of credit solutions -- to small- and medium-sized business (SMB) owners. With a mission to provide growing SMBs with access to capital that is unique, appropriate and affordable with honesty and transparency, Dealstruck is committed to placing SMBs on a credible path to bankability. For more information, please visit https://www.dealstruck.com/.

About Lendio
Lendio is a free online service that helps business owners find the right small business loans within minutes. The center of small business lending, our passion is fueling the American Dream by uniting the small business loan industry and bringing all options together in one place, from short-term specialty financing to long-term low-interest traditional loans. Our technology makes small business lending simple, decreasing the amount of time and effort it takes to secure funding. More information about Lendio is available at www.lendio.com.