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Lendio franchisee expands to Buffalo region

RJ Muto said he has received such strong customer response to his Lendio fintech franchise in Rochester since buying it last year, he has chosen to expand into Buffalo.

Lendio is a marketplace for small business loans, connecting applicants with a network of 75 lenders that decide whether to present offers.

"They know their business, but they don't know the banking business," Muto said of typical applicants.

Muto, who formerly owned an insurance company, said Lendio caters to small businesses that might have had difficulty obtaining loans from banks, perhaps due to the small dollar amounts involved, a company's short business history, or its credit score.

Muto said he has not yet opened a Lendio office in Buffalo or hired staff here, but plans to do so.

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