FOR IMMEDIATE RELEASE
Lendzero launches its pre-negotiated, zero-haggle business funding program
Boston, MA – August 10, 2022 – Lendzero launches an online financing assistant that lets small business owners explore and access pre-negotiated financing offers from multiple lenders at the touch of a button.
This launch could not have come at a better time for cash-strapped businesses. According to the Federal Reserve Banks’ Small Business Credit Survey, “Applicants were less likely in 2021 to receive the financing they sought than they were in prior years.” Only 11% of small businesses that sought out financing got all the money they needed.
“While discouraged firms most often cited weak business financials as a reason their firm would not be approved for financing, others believed lenders are too strict or that lenders do not approve businesses like theirs.”
Late last year, the SBA announced a $44.8 billion lending milestone for fiscal year (FY) 2021. During the announcement, SBA Administrator Isabella Casillas Guzman said, “While progress has been made, our data also tells a deeper story: historic inequities in accessing capital persist, and we must do more to lower the barriers of entry to opportunity for all our entrepreneurs.”
The newly launched Lendzero platform aims to address these issues by bringing SMB-friendly, low cost business financing options to underserved businesses that often feel priced out of the financing market.
About Lendzero and how it works
Lendzero is a leading fintech company on a mission to break financing barriers for small to medium sized businesses. It matches small businesses with curated funding offers with the best possible terms and costs. The platform runs an automated matching system that assesses hundreds of lending programs in real time to find the most suitable deals for each company. Lendzero has already partnered with a wide array of lenders, including finance companies, online lenders, private investors, and banks, to make this possible.
And with so many products and programs in its matching pool, Lendzero holds competition-based leverage over the lenders for discounts, low costs, and lenient terms, which it passes down to the borrower. This arrangement means that Lendzero users always get the best deals without even asking, eliminating the need to haggle with lenders.
Lendzero’s process is built around speed and efficiency. Borrowers only need to sign up, take a 60-second pre qualifying survey, choose an offer, and get funding. The staff manning the platform will gladly facilitate transactions and impartially guide users in making the right decisions.
Lendzero takes a robust approach to making zero-haggle small business financing a reality, with the goal of maximizing SMBs’ credit capacity and bargaining power.
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