Staples aims to lend a hand to small business

Staples Inc. is tapping into a new revenue stream by launching a lending program aimed at small businesses.

Staples has launched the Staples Business Loans powered by Lendio service to provide access to capital for small business owners. Staples has teamed up with Lendio, a financial technology firm and small business-lending marketplace, to deliver a suite of funding options.

Staples Business Loans 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 committed to helping small business owners by providing everything they need to make more happen in their business – including funding,” said Frank P. Bifulco Jr., executive VP, global marketing, Staples. “We’re excited to team up with Lendio to launch Staples Business Loans, which makes it easy for small businesses to get funding that is right for their business.”

Staples' foray into business loans follows a $6.3 billion deal this month to acquire Office Depot Inc.