Marketing 360® and Lendio today announced a partnership that will allow Marketing 360 to help its customers navigate the PPP loan application and loan forgiveness process. This partnership paves the way for Marketing 360 customers to access the capital they need to support their businesses.
“The partnership with Lendio gives our SMB customers a better chance at securing funding, as they will have access to a marketplace of funds that can better accommodate their needs,” said Jerry Kelly, CMO of Marketing 360.
“Lendio and Marketing 360 have similar missions and a belief that small businesses are the lifeblood of the American economy, so this partnership is a natural fit,” he added.
The rollout of PPP was extremely complicated, with ever-changing guidelines and rules. Many small businesses had to put in multiple applications through multiple lenders, only to be turned away when the funds ran out. With Lendio, a small business fills out one application and has access to multiple trusted lending partners on Lendio’s platform. Business owners have access to a dedicated loan advisor to guide them through the entire process.
Lendio also helps with the loan forgiveness process. If a business uses 60% or more of their PPP funds directly for payroll, the entire loan can be forgiven; however, applicants must submit paperwork and documentation to be eligible for loan forgiveness.