LendingTree, the nation's leading online loan marketplace, today announced the official launch of its small business loan marketplace, as it continues to expand its offerings.
The company's network of small business lenders already includes traditional, alternative, peer-to-peer and specialty finance lenders, bringing forth a multitude of funding options for small and mid-sized businesses.
"LendingTree has simplified the process of shopping for consumer loans, and is now bringing the marketplace model to businesses," said LendingTree Chief Product Officer, Nikul Patel. "Recognizing the gap for small business lending left by traditional lending, alternative and specialty lenders have rushed in to fill the void using internet technologies. We created a true marketplace to bring simplicity and convenience to the process, allowing small businesses to gain access to a growing network of traditional and alternative lenders, while fostering an easy comparison shopping experience. Business can now shop and compare loans from multiple lenders, and select the best loan options for their business."
Qualified businesses seeking capital can receive offers for loan amounts ranging from $5,000 up to $1 million, and some lenders on the network can fund loans in as little as 48 hours. Lenders on the LendingTree network have fulfilled loan requests from a wide variety of industries such as retail trade, construction, educational services and manufacturing.
"Real-time online financing is the wave of the future – and it will now be available to LendingTree's business client base," says Walt Levengood, Chief Strategy Officer at Merchant Cash and Capital, a lender on LendingTree's network. "This technology will allow LendingTree to facilitate significant funding opportunities without the arduous process and delays associated with traditional business loans. The partnership with LendingTree was a natural fit because both of our companies are committed to supporting the growth of small business -- the sector that is the backbone of our country's economy."