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Able Lending business loans

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Able Lending helps businesses access money quickly by offering alternative online loans with fair rates.

What is Able Lending?

Based in Austin, Texas, Able Lending was founded in 2014 as a low-cost online lender for small businesses. Due to the nature of its peer-to-peer combination loan models, it’s received press recognition from Forbes, the Wall Street Journal, Business Insider, BuzzFeed and Entrepreneur.

What type of loans does Able Lending offer?

Able offers five types of loans:

  • SBA loans. Get a term loan with extra-low rates, thanks to government backing.
  • Term loans. Receive a lump sum, which you pay back over a set period of time.
  • Lines of credit. Have access to capital you can withdraw to cover emergencies or day-to-day expenses when sales are low.
  • Invoice factoring. Sell your unpaid invoices to a third party for a percentage of their worth.
  • Short term loans and advances. Find fast financing to cover emergencies — although you pay for speed with higher rates.

What are the benefits of borrowing from Able Lending?

  • Financing at affordable rates by funding with the help of backers.
  • Funds typically received within 30 days of applying online.
  • Offers free fundraising tools to foster funding connections.
  • Customer service by email, chat or phone.

Costs of borrowing

Able Lending offers competitive interest rates that start at 8%. You’ll pay a one-time origination fee for some loans and no prepayment penalties.

Compare more business loan providers

Rates last updated October 22nd, 2018
Unfortunately, none of the business loan providers currently offer loans for these criteria.
Name Product Product Description Min Loan Amount Max. Loan Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Customizable loans with no origination fee for business owners in a hurry.
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Credibly Business Loans
Funding to cover business expenses with daily or weekly repayments.
At least 6 months in business, average $10,000 in monthly deposits.
Lendio Business Loan Marketplace
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
LendingClub Business Loans
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
2+ years in business; $50,000+ in yearly sales; No bankruptcies or tax liens; At least 20% ownership of your business; Fair or better personal credit
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
Must have been in business for at least one year with annual revenue of $100K+. Must have a personal credit score of 500+.
Lending Express Business Loan Marketplace
At least 3 months in business and $10,000+ in monthly revenue. Your business might also qualify if it's been in business at least 6 months with $3,000+ in monthly revenue.
Fora Financial Business Loans
No minimum credit score requirement and early repayment discounts for qualifying borrowers.
Business age 6+ months. Monthly revenue $12,000+. No open bankruptcies.
LendingTree Business Loans
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.

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How can I get a loan from Able Lending?

  • For the small business growth loan and debt refinance loan, your business must be in operation at least one year with at least $50,000 in revenue. You must also have a personal credit score of 600 or higher.
  • Able Lending does not conduct business in California, Delaware, Nevada, North Dakota, South Dakota or Vermont.

What information do I need to apply?

Pre-approval is quick and simple. Complete basic information online, and Able will ask you to provide income documentation, bank statements and balance sheets. Able will also verify your credit score.

Is Able Lending safe?

While Able Lending is relatively new to the scene, it has favorable online reviews and has loaned millions of dollars to borrowers. It’s registered (though not accredited) with the Better Business Bureau with an A+ rating. With a belief in transparency, Able Lending has signed the Small Business Borrowers Bill of Rights.

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