Compare Able Lending small business loans | finder.com

Able Lending business loans

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 February 19th, 2018
Name Product Product Description Min Loan Amount Maximum Loan Amount Requirements
LendingTree Business Loans
Compare 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.
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
$5,000
$500,000
Must have been in business for at least one year with annual revenue of $100K+. Must have a personal credit score of 500+.
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.
$5,000
$300,000
2+ years in business; $75,000+ in yearly sales; No bankruptcies or tax liens; At least 20% ownership of your business; Fair or better personal credit
National Business Capital Business Loans
Get a large business loan to cover your financing needs, no matter what the purpose is.
$10,000
$5,000,000
Your company must have been in business for at least 6 months and have an annual revenue of at least $180,000.
Kabbage Small Business Line of Credit
A simple, convenient online application could securely get the funds you need to grow your business.
$2,000
$250,000
Must have been in business for at least 1 year. Revenue minimum is $50,000 annually or $4,200 per month over the last 3 months.
SmartBiz SBA Loans
Get funding for your small business with a government-backed loan and extended repayment terms.
$30,000
$5,000,000
Personal credit score of 650+; US citizen or permanent resident; Business must be 2+ years old; Annual revenue of $50,000+; No outstanding tax liens; No bankruptcies or foreclosures in past 3 years.
Excel Capital Management Small Business Loans
Get personalized financing options that suit your unique business needs in just a few simple steps.
Varies by loan type
Varies by loan type
Your business must operate in the US, be at least 1 year old and have monthly revenue of $15,000+.

Compare up to 4 providers

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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