Sramana Mitra: I’ll tell you from my point of view because in 1Mby1M, we’re trying to get entrepreneurs to be disciplined, scalable, and be able to do more things. If you’re going to go apply for a loan, keeping your QuickBooks up to date is an important piece of the housekeeping. Brock Blake: Yes, no
Brock Blake: We have a partnership with Comcast. In Comcast, we have access to proprietary data around how long have they been a customer, how many employees do they have, what’s their track record of payment, etc. Everyone is looking for a unique source of data that they can access to that others can’t. It’s
Sramana Mitra: What are the trends in the industry? One of the trends that I’m starting to see is that what started more as a FinTech phenomenon is starting to come into the mainstream. One of the companies you’ve mentioned earlier is American Express. I actually did a story last year with American Express’ FinTech
Sramana Mitra: Talk to us about those different categories of financing that apply to our audience. What kind of metrics are people looking for? Brock Blake: I’m going to talk about this generally for a second and then I’ll get down a little bit more specifically to that industry. Generally, lenders are going to underwrite
Brock Blake: You asked about lenders. As I mentioned, we have 75 lenders on our platform. We have some of the big ones like Bank of America and American Express. We also have traditional banks. We have non-banks on our platform like OnDeck Capital, Kabbage, Funding Circle, and a bunch of those players that are
Small business lending is an extremely important finance function that is full of sand in the gear. Lendio is working on smoothening the process and adding velocity into the ecosystem. We discuss the future of this corner of FinTech in this fascinating conversation. Sramana Mitra: Let’s start by introducing our audience to yourself and to