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Able Lending small business loan alternatives

Able Lending may no longer be in business, but you aren't out of options.


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Able Lending was an online lender that offered low-cost online loans to small businesses. While this lender is no longer, there are several alternatives offering similar products — and to businesses in more states.

Why doesn’t Able Lending offer small business loans anymore?

Able Lending stopped offering financing because it was bought out by small-business lender Fundation in 2017. Fundation now uses some of the technology that this Texas-based online built for its online platform. But it doesn’t offer financing under the name Able Lending.

Able Lending sold its assets to Fundation despite receiving press recognition from Forbes, the Wall Street Journal, Business Insider, BuzzFeed and Entrepreneur. The sale came after rumors circulated that Able Lending was planning on selling its portfolio, and President and Co-founder Evan Baehr left the company in 2016.

3 alternatives to Able Lending small business loans

Before the acquisition, Able Lending used to offer low-interest funding from $25,000 to $5 million. It did this through what it called a “hybrid peer-to-peer model”. Through this model, Able Lending funded most of the loan while friends and family of the small business owners financed the other other portion.

While you might not be able to find loans through this funding model, some online lenders offer loans at similar rates and terms through an equally quick application process.

Best for a personal touch: Fundation

Since Fundation bought out Able Lending and still uses its technology, this might be the closest thing to an Able Lending loan you can get. It offers term loans and lines of credit designed to help cover day-to-day expenses.

Unlike many other online lenders, Fundation lets you discuss your application and eligibility with a representative while still offering a fast turnaround. Its annual revenue requirements are twice as high as what Able Lending used to offer, though it’s available in more states.

  • How much you can borrow. $20,000 to $500,000
  • APRs. 7.99% to 29.99%
  • Terms. 1 year to 4 years
  • Eligibility requirements. 12+ months in business, 3+ employees, $100,000+ annual revenue

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Best for continual projects: Kabbage

This online lender offers lines of credit with similar revenue requirements as Able Lending, though you don’t need excellent credit to qualify.

Its maximum credit limit is significantly lower than Able Lending’s former maximum loan amount of $5 million. But your limit renews once you pay off your balance. And it’s available in all states.

  • How much you can borrow. $500 to $250,000
  • APRs.
  • Terms. 0.5 years to 1 year
  • Eligibility requirements. 1+ years in business, $100,000+ annual revenue or $4,200+ monthly revenue over last 3 months

Best for large projects: SmartBiz

SmartBiz simplifies the application process for a government-backed SBA loan. This lender could cut down on the time it takes complete one of these notoriously complicated applications and get your business the same maximum amount Able Lending used to offer at potentially more competitive rates.

  • How much you can borrow. $30,000 to $5,000,000
  • APRs. 4.75% to 7%
  • Terms. 10 years to 25 years
  • Eligibility requirements. 650+ personal credit score, US citizen or permanent resident, 2+ years in business, $50,000+ annual revenue, no outstanding tax liens, no bankruptcies or foreclosures in past 3 years

Does Able Lending offer similar loans?

No. Able Lending was a small business lender that completely stopped all operations after being acquired by Fundation.

Compare more small business loans

Data indicated here is updated regularly
Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$4,000 – $300,000
5.49% to 22.79%
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 300
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 3+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Fundbox business loans
$1,000 – $100,000
You must have an established business.
Get flat rate, short-term financing based on the financial health of your business, not your credit score.
Kickpay e-commerce business loans
$20,000 – $1,000,000
Not applicable
At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.
Get a loan for your e-commerce business based on your sales history.
Fundera business loans
$2,500 – $5,000,000
7% to 30%
$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years
Get connected with short-term funding, SBA loans, lines of credit and more.
LendingClub business loans
$5,000 – $500,000
9.77% to 35.98%
12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
Monevo business loans
$500 – $100,000
3.99% to 35.99%
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.

Compare up to 4 providers

Bottom line

Able Lending might not offer business loans any more. And you might not be able to find anyone offering funding through a similar hybrid peer-top-peer model. Butt there are several online lenders that offer the same quality of service, high loan amounts and competitive rates.

Compare all business loan options available to you for the best terms and rates.

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