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Business Lenders business loans review

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This former SBA loan provider no longer offers loans — but you can find a lender through its partner SmartBiz.

Business Lenders used to be an online lender that underwrote and funded Small Business Administration (SBA) loans. And you might think it still is, based on its out-of-date website.


Min. Amount


Max. Amount


Product NameBusiness Lenders SBA loans
Min. Amount$30,000
Max. Amount$350,000
Min. Credit Score680
APR8.96% to 10.26%
Requirements680+ credit score, 2+ years in business, profitable, 10% down payment

Expert review

Anna Serio

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

You might still think Business Lenders offers SBA loans thanks to its extremely out-of-date website. But it doesn’t. Instead, it partners with SmartBiz to help connect you with an SBA Preferred Lender through its marketplace. Business Lenders only handles SBA loan repayments now.

Read our review of SmartBiz to learn more about how this marketplace works. Or compare other business loan options below.

First, do I qualify?

You and your business must meet the following criteria to qualify for a loan serviced by Business Lenders:

  • 680 personal credit score or higher
  • At least two years in business
  • Profitable
  • Able to make a 10% down payment

You also need to meet other SBA loan requirements to get a loan, such as meeting the administration’s small business size requirements. You don’t need to fully back your loan with collateral. But the more business or personal collateral you can bring to the table, the easier it will be to qualify.

What makes Business Lenders business loans unique?

Business Lenders used to be part of the SBA’s Preferred Lender Program (PLP), which meant it had the authority to underwrite and close on government-backed business loans. This streamlined the application and cut down on your turnaround time. Now it’s an SBA loan servicer, meaning it only handles repayments on SBA loans.

However, you can still find a loan through its partner SmartBiz — a marketplace that connects businesses with SBA Preferred Lenders. Business Lenders links to the SmartBiz application on its website. After you get funded, Business Lenders might handle your repayments, depending on who you borrow from.


  • Get connected with an SBA Preferred Lender
  • Streamlined application through SmartBiz
  • Over 25 years of SBA experience


  • Misleading, out-of-date website implies it still funds loans
  • No longer an SBA lender
  • Might be funded by another bank

Compare other business loan options

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
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 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
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
12.15% to 29.97%
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 12 to 60 months, 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

How do I apply?

Even though Business Lenders no longer underwrites loans itself, you can still apply for a loan from its website:

  1. Go to the Business Lenders website.
  2. Click Apply for a Loan. You should get a message letting you know that you’re leaving the Business Lenders website for SmartBiz, which handles the application.
  3. Answer questions about yourself, your funding needs and your business. Click Continue to Prequalify.
  4. Click Let’s get started.
  5. Answer questions about why you need the funds, your business, yourself and any other owners that own 20% or more of the business.
  6. Click See what I prequalify for.
  7. Review your offers if you prequalify. Click Continue to move forward with the lender you like best.
  8. Upload any required documents and answer more detailed questions about you and your business.
  9. Review your answers and submit your application.

What documents do I need to apply?

You need to provide the following documents to complete your application:

  • At least two years of business tax returns
  • At least two years of personal tax returns
  • Profit and loss statement
  • Business balance sheet

You may be asked to provide more documents, depending on your application.

How do repayments work?

It depends on the type of SBA loan you applied for and the lender you’re connected with. Check your loan contract to make sure you understand when repayments are due each month.

If Business Lenders is your loan servicer, you can reach out to customer service with any questions by calling 860-244-9202. Otherwise, contact the company you make repayments to if you run into any problems.

Compare even more lenders with our guide to business loans.

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