Lendio has formed a partnership with Comcast to pitch its online lending-application platform to small businesses.
The South Jordan, Utah, company started the arrangement with the Comcast Business subsidiary in early May, Lendio CEO Brock Blake said in an interview. Lendio is offering its loan platform to Comcast’s customers through email, direct mail and online marketing, he said.
Business owners can apply for loans using Lendio's online platform and then can compare rates and terms from dozens of lenders.
Many business customers "are looking for access to capital to expand and that’s where this partnership comes to fruition,” Blake said.
Comcast Business has millions of small-business customers throughout the U.S. that use its internet, phone, TV and communications services.
Lendio has several similar partnerships to market its loan platform, including arrangements with Staples, GoDaddy and LegalZoom, Blake said. He declined to provide an estimate of loan volume that Lendio expects to generate from the Comcast deal, and he also declined to disclose financial terms of the agreement.