Compare 6 small business lenders similar to Able Lending | finder.com
Able lending logo business loans

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A business loan provider that combined traditional loans with peer-to-peer crowdfunding.

Pros

  • Simple and fast online application.
  • Offers instant pre-approval.
  • Lower rates and longer terms than some competing business lenders.
  • Pay no fee for early repayment.

Cons

  • Not available in all states.
  • Requires that your network contribute a minimum of 10% of your loan amount.

Looking for more traditional business lenders?

Alternative sites like Able Lending



Click here to see Able Lending



Kabbage logo logo business loans

1. Kabbage

Get access to ongoing funds for your small business with a Kabbage line of credit of up to $250,000.

Pros

  • Link your business accounts for added convenience when applying.
  • Borrow only what you need and pay it back on your own schedule.
  • Three ways to withdraw funds: online, mobile app, and card.

Cons

  • Monthly fee could be as high as 10% of the borrowed amount.
  • Business revenue must be over $50,000 a year.

Go to the Kabbage website


OnDeck logo business loans

2. OnDeck

OnDeck offers term loans of up to $500,000 and lines of credit of up to $100,000 with fast application processing and funding.

Pros

  • Fast application, approval and funding process.
  • Available in all 50 states.
  • Loyalty benefits for returning customers.

Cons

  • Business revenue of $100,000+ per year required.
  • Some industries not eligible for a loan.

Go to the OnDeck website


LendingClub logo business loans

3. LendingClub Business Loans

Offering fixed-rate loans of up to $300,000, your business can get the affordable financing it needs.

Pros

  • Prepay without penalties.
  • Fixed interest rate.
  • Quick approval.

Cons

  • Lien required for higher amounts.
  • Check fee of $7 per payment.
  • Not for new businesses.

Go to the LendingClub Business Loans website


SmartBiz logo business loans

4. SmartBiz SBA Loans

Looking to grow your business? You could qualify for up to $5,000,000 with a low interest rate, longer term SBA loan.

Pros

  • Prequalify in minutes.
  • Quick turnaround for smaller loans.
  • Long repayment terms.
  • Connects you with multiple options.

Cons

  • Fee for prepayment.
  • Longer turnaround time for large loans.
  • Good personal credit required.
  • Restrictions on how funds can be used.

Go to the SmartBiz SBA Loans website


Wise logo business loans

5. Wise Business Loans

Qualify for a business loan of up to $2,000,000, even if you have bad personal credit.

Pros

  • Fast turnaround, with minimal paperwork required.
  • No prepayment penalty.
  • Apply with a low personal credit score, even in the 500s.

Cons

  • No pre-approval.
  • Daily loan repayment could eat into cash flow.
  • High rate of loan renewals, which could indicate inability for borrowers to repay high rates.
  • $100,000+ minimum annual revenue required.

Go to the Wise Business Loans website


Biz2credit logo business loans

6. Biz2Credit

A secure business lender connection platform that could help you get up to $5,000,000 to finance your small business.

Pros

  • Network of legit business lenders with a wide variety of financing options.
  • Fast funding options available.

Cons

  • Not a direct lender.
  • $250 – $400 underwriting fee if you accept a loan their platform.
  • Typically requires good personal credit.

Learn more


Our top pick: Able Lending Business Loans

  • Min. Credit Score Required: 600
  • Max. Loan Amount: $5,000,000
  • APR: As low as
  • Requirements: Business must be in operation for at least one year, bring in at least $50,000 in annual revenue, must have a personal credit score of 600 or higher, no personal bankruptcy in the past 12 months.
  • Instant preapproval with funding delivered within a week.
  • Competitive starting rates.
  • No prepayment penalties.

Our top pick: Able Lending Business Loans

Get one of five types of financing to grow your business: SBA loans, term loans, lines of credit, invoice factoring or short term loans and advances.

  • Min. Credit Score Required: 600
  • Max. Loan Amount: $5,000,000
  • Requirements: Business must be in operation for at least one year, bring in at least $50,000 in annual revenue, must have a personal credit score of 600 or higher, no personal bankruptcy in the past 12 months.
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