Thryv, Inc. Announces Strategic Partnership with Lendio to Help SMBs Secure PPP Loans and Business Financing

Rhea-AI Summary

Thryv (NASDAQ:THRY) has announced a strategic partnership with Lendio, enhancing financial assistance options for small businesses. This collaboration aims to simplify the loan application process for American businesses, especially amidst the ongoing need for financial support due to the COVID-19 pandemic. Thryv will integrate Lendio into its App Marketplace, allowing users to apply for PPP loans and other financing options easily. Lendio has previously facilitated over $8 billion in PPP loans, aiming to support small businesses in accessing crucial capital.

Positive

• Strategic partnership with Lendio to ease loan application for small businesses.
• Integration of Lendio into Thryv's App Marketplace for seamless access to financing options.
• Lendio's proven track record of facilitating over $8 billion in PPP loans.

Negative

• None.

Dallas, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Thryv, Inc. (NASDAQ:THRY), the provider of Thryv^® software, the end-to-end client experience platform for growing small businesses, today announced a strategic partnership with Lendio, the nation’s leading financial solutions provider for small businesses. The announcement comes at a time when 87 percent of small business owners believe the government should provide more stimulus. With the Paycheck Protection Program (PPP) open again, thousands of small businesses impacted by the COVID-19 pandemic aim to secure financial assistance in order to keep their businesses running. 

For decades, small businesses have struggled with access to capital, and the process of applying for government loans remains challenging for this sector. The new partnership aims to make the loan application experience easier and more accessible to business owners in need of help. 

Thryv will be adding Lendio to its App Marketplace, a move that enables Thryv subscribers to easily access the Lendio application for PPP loans or standard business financing. 

“We are pleased to be adding Lendio to our App Marketplace for the benefit of small businesses across America,” said Gordon Henry, Thryv’s Chief Strategy Officer. “Together we are making it easier for small businesses to access the loans or financing they need. This is particularly important when many small businesses are still suffering due to lockdowns resulting from COVID-19.” 

As part of the partnership, Thryv subscribers can apply for a PPP loan through Lendio and get matched with an SBA-approved lender to fund their loan. Alternatively, SMBs can find a variety of business financing options, from lines of credit to equipment financing and more, to fit their specific financial needs. 

“Lendio is pleased to be partnered with Thryv to help its small business customers save their American dream,” said Brock Blake, CEO and co-founder of Lendio. “We understand how challenging it has been for small businesses operating on thin margins or having to close their doors entirely. Many have pivoted business models or innovated in other ways to keep their staff employed and their bills paid. PPP loans and other forms of financing are a lifeline to these businesses. Lendio looks forward to helping guide Thryv’s customers through the process of finding the right loan for their business and eliminating as many hurdles as possible to their growth and success.” 

During the first rounds of PPP, Lendio helped facilitate over $8 billion in PPP loan approvals to small businesses, making it one of the largest facilitators of small business loans in the nation.

 

About Thryv Holdings, Inc.

Thryv Holdings, Inc. owns the easy-to-use Thryv® end-to-end customer experience software built for growing small to medium sized businesses (SMBs). Thryv’s cloud-based software helps over 40,000 SaaS clients with the daily demands of running a business. With Thryv, they can get the job, manage the job and get credit. Thryv’s award-winning platform provides modernized business functions, allowing SMBs to reach more customers, stay organized, get paid faster and generate reviews. These include building a digital customer database, automated marketing through email and text, updating business listings across the internet, scheduling online appointments, sending notifications and reminders, managing ratings and reviews, generating estimates and invoices and processing payments.

Thryv supports franchise operators and multi-location business owners with Hub by Thryv™, a software console that enables businesses managers to oversee their operations using the Thryv software.

Thryv also connects local businesses to consumer services through our search, display and social media management products, our print directories featuring The Real Yellow Pages® tagline, and our local search portals, which operate under the DexKnows.com®, Superpages.com® and Yellowpages.com URLs and reach some 35 million monthly visitors. For more information about the company, visit thryv.com.

Thryv delivers business services to more than 360,000 SMBs across America that enable them to compete and win in today’s economy.       

Learn more about Thryv on LinkedIn and Medium. 

 

About Lendio

Lendio is the nation’s leading small business loan marketplace. With its diverse network of lenders, Lendio enables small business owners to apply for multiple loan products with a single application. To date, Lendio has facilitated more than 200,000 small business loans for over $10 billion in total funding, including $8 billion in PPP loan approvals as part of government COVID-19 relief. Lendio is a values-driven organization striving to provide equal access to capital to underserved communities and America’s smallest businesses. For every new marketplace loan Lendio facilitates, Lendio Gives—an employee-contribution and employer-matching fund—provides a microloan to a low-income entrepreneur around the world. 

 

Media Contact:

 

Paige Blankenship

Thryv, Inc.

972.453.3012

paige.blankenship@thryv.com

 

Investor Contact: 

 

Cameron Lessard 

Thryv, Inc.    

214.773.7022 

cameron.lessard@thryv.com   

 

KJ Christopher

Thryv, Inc.

972.453.7068

KJ.Christopher@thryv.com 

 

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FAQ

What is the significance of Thryv's partnership with Lendio?

The partnership aims to simplify the loan application process for small businesses, facilitating access to financial assistance during challenging times.

How does Thryv's App Marketplace benefit small businesses?

It provides Thryv subscribers with easy access to Lendio for applying for PPP loans and other business financing options.

When was the partnership between Thryv and Lendio announced?

The partnership was announced on February 11, 2021.

What is Lendio's role in the partnership with Thryv?

Lendio will assist Thryv subscribers in securing PPP loans and various other financing options through its platform.

What impact could the Thryv and Lendio partnership have on small businesses?

The partnership could provide critical financial support to small businesses, helping them navigate cash flow challenges exacerbated by the COVID-19 pandemic.