Grasshopper Bank, a digital bank focused on the business and innovation economy, has teamed up with Lendio, a small business financing platform, to enhance SBA loan offerings on Lendio’s Marketplace. This partnership aims to revolutionize the SBA lending process by utilizing Lendio’s advanced customer acquisition and AI-based decision-making tools, addressing the slow and cumbersome traditional methods that often delay small business financing. Brennan Quenneville, Grasshopper’s head of SBA lending, highlights that this collaboration represents their commitment to delivering modern banking solutions for small businesses. By leveraging technology, Grasshopper can source complete SBA loan packages, which expedites underwriting and decision-making. Trent Miskin, Lendio’s chief product officer, emphasizes the importance of this innovation in providing fast, straightforward access to capital for small business owners. Overall, this partnership strengthens Grasshopper’s SBA strategy, offering a seamless, efficient lending experience tailored to the urgent needs of small businesses.
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