Quote Originally Posted by MCNetwork View Post
Fact. There's a lot of smoke and mirrors here! Caveat emptor!
Yes there is. They have excellent product design and Dave is a great salesman. However, they haven't figured out how to generate leads yet. The problems are that:

1. They don't want to spend money on high quality lead generation.
2. Why they haven't optimized a funnel to include the Yodlee API's so as to sell completed applications where the merchants knows "ok, I'm probably going to get a 1.38" is beyond me.
2. They want to sell each lead one time, to 4 different funders.
4. Lendio needs to figure out who it's customers are. Are they the merchants, or are they MCA?

An offer was made to someone I am very very very close with to buy leads from said person at $30 each.

What's funny is that, Bank of America, Chase, Wells Fargo have zero need to buy leads from Lendio. They are doing everything in their power to decline as many deals as possible!! lol

Lendio's only market is the alternative finance / merchant cash advance. Unlike SomoLend, SmallKnot, and others, they didn't spend as much time getting to learn this industry as they should have.

While I think "buying leads" makes as much sense as showering with a raincoat, this is the only market where Lendio has a shot at turning into long-term customers. They are also misleading merchants with PPC campaigns that say; "Government Business Grants." This entices the merchant to click on said PPC ad to which they will sell YOU the lead as someone who is NOT looking for free money. You call them up, and they either don't qualify or are insulted by your offer.

Lastly, Dave is a good guy. A genuinely good guy, and a gifted seller. Many of you need to be making the guy offers so he has a golden parachute. My issue is not with Dave, it's the fact that Lendios' name should be "Joke-io."