How Lendio Increased Application Conversion 23% and Scaled Sales Capacity 4x with Monumint

The Challenge

Lendio is a small-business loan marketplace that has helped over 520,000 business owners access more than $17B in financing. Hundreds of Lendio sales representatives call, text, and email applicants daily, but can still only provide personalized support to a fraction of the businesses applying through Lendio.com.

Lendio wanted to increase application volume and build stronger customer relationships without scaling its operations team linearly. Every additional applicant who could get personal, real-time support meant a better chance of completing a loan application, but hiring enough representatives to reach everyone wasn't sustainable.

Lendio has helped over 520,000 small businesses access $17B+ in financing by providing transparent access to the best credit options. To scale our mission, we partnered with Monumint to eliminate operational bottlenecks. By automating our application gathering motion, Monumint slashed manual intervention and drove a 4x increase in ADR productivity. That speed translates directly into a superior customer experience: getting critical capital into the hands of business owners faster than ever before.

— Tyler Sharp, Senior Vice President, Operational Strategy & Innovation, Lendio

The Solution

During a three-month pilot, Lendio tested Monumint agents across several applicant segments. The agents call, text, and email applicants, answer questions, support application completion, and escalate conversations to Lendio representatives when human involvement is needed.

Following the pilot, agents now lead 25% of volume that was previously processed manually. Representatives overseeing those agents can each support approximately 80 applicants per day on an escalation-only basis, four times their previous capacity. Monumint also let Lendio extend personalized outreach to applicant segments that previously received no direct support, increasing personalized funnel coverage by 26%. Agents provide after-hours coverage and handle routine conversations, while human representatives focus their time on complex situations where their expertise has the greatest impact.

Looking Ahead

This is only the beginning of the Lendio and Monumint partnership. The teams are continuing to test agents across additional use cases, including renewals, and new products such as SBA and equipment loans.