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Staples Celebrates Million Dollar Milestone for Staples Business Loans

Business Wire
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Staples, Inc. (NASDAQ:SPLS) today announced that “Staples Business Loans” has surpassed a million dollars of funding for small businesses. The quick and easy access to capital has helped more than 43 small businesses nationwide, ranging from a lunch wagon in Virginia to a medical writing company in Georgia to a construction service business in Ohio. The $1.5 million in loans is helping businesses expand, hire new employees and build for the future.

Financing and cash flow are major pain points for small businesses. Staples teamed up with Lendio, an innovative financial technology firm and the leading small business-lending marketplace, to deliver a suite of funding options that help solve these challenges.

Staples Business Loans is quick and simple with each business receiving individual attention. It offers more than 20 different funding options and the flexibility for businesses to use the money for whatever their business needs.

“At Staples, we’re excited that Staples Business Loans has already helped 43 small businesses get the right funding,” said Alison Corcoran, senior vice president, North American stores and online marketing, Staples. “We know that small businesses are the backbone of their communities. We’re proud that Staples Business Loans is helping business grow and helping owners make their dreams come true. We are committed to helping small businesses by providing everything they need to make more happen in their business through products and services they need including capital.”

A few of the recent Staples Business Loans success stories include:

  • Hit Medical Writing in Alpharetta, Ga. – Staples Business Loans helped the owner hire three more employees to grow the business.
  • Digital & Project Services LLC in Columbus Ohio – Received funding for future projects in low voltage installation and expansion into plumbing.
  • Bubba Nubb’s Lunch Wagon in North Dinwiddie, Va. – Helped owner purchase equipment and trailer to run a food truck business.
  • HiMacc Remodeling in Dunellen, N.J. – Received funding for future remodeling projects and cash flow.

Visit Staples.com/BusinessLoans to learn more.

Why Staples Business Loans?

The current funding process for a small business is time consuming, complex and often does not result in the small business actually getting a loan. Small businesses contact at least 3 different financial institutions for help and spend an average of 33 hours applying for credit, according to the Federal Reserve Bank of New York Small Business Credit Survey, spring 2014. Staples Business Loans allows small business owners to apply once and receive multiple funding options.

The new Staples Business Loans service uses Lendio’s great technology and eliminates complexity and frustration for small businesses seeking financing. It includes:

  • Broad set of funding products such as lines of credit, SBA loans, term loans, merchant cash advances, ACH advances, equipment loans, commercial real estate loans, factoring and more;
  • More than twenty different funding options for loans ranging from $2,500 to $1 million;
  • The ability to see all funding options available with just one application;
  • Personal attention from a loan advisor to guide small businesses through the entire process;
  • Impartial advice to help understand the pros and cons of each option so small businesses choose what is right for their needs;
  • Fast funding within days, not weeks.

Staples evaluated more than 30 financial services firms before teaming up with Lendio.

About Staples:
Staples makes it easy to make more happen with more products and more ways to shop. Through its world-class retail, online and delivery capabilities, Staples lets customers shop however and whenever they want, whether it’s in-store, online, on mobile devices, or through the company’s innovative buy online, pick-up in store option. Staples offers more products than ever, such as technology, facilities and breakroom supplies, furniture, safety supplies, medical supplies, and Copy and Print services. Headquartered outside of Boston, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. More information about Staples (SPLS) is available at www.staples.com.

About Lendio:
Lendio is a free online service that helps business owners find the right small business loans within minutes. The center of small business lending, our passion is fueling the American Dream by uniting the small business loan industry, and bringing all options together in one place-from short-term specialty financing to long-term low-interest traditional loans. Our technology makes small business lending simple, decreasing the amount of time and effort it takes to secure funding. More information about Lendio is available at www.lendio.com.

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