LendingPoint is an online lender specializing in personal loans with lower qualifications than banks and much faster funding times. In addition, the online lender recently added some small business point-of-sale partnerships for companies to offer their customers term loans to pay for goods and services.
However, the online lender won’t work for every business or startup need. We can help you decide if LendingPoint’s options could work for your startup or sales process by covering the benefits, drawbacks, and application process.
Small business loan marketplaces like LendingTree help connect companies to multiple lending offers from a vast lending network. Business owners of all credit scores, industries, and time in business can apply to the lender network.
The tradeoff for the convenience of the service is additional fees and your information going to many institutions who may contact you persistently. The service works for some small businesses, but not all.
Lending marketplaces like Lendio reduce the time and stress of finding lenders by matching your application with its lender partners. It offers many lending options with different qualifications through its network of 75+ lenders.
However, the costs could run high depending on the Lendio business loan and lender.
Lendistry is an excellent option for small businesses in underserved areas that need business funding. Its qualifications are more stringent than most online lenders, but the costs are low if you qualify.
Lendr is an alternative business financing company headquartered in Chicago, Illinois. Founded initially as Viking Capital Group in 2011, the company rebranded as Lendr in 2016 to focus on digital business funding solutions.
Since its inception, Lendr has funded over 30,000 businesses and provided more than $250 million in total financing. The company also claims an 80% returning client rate, showing strong repeat customer loyalty. Lendr focuses on providing high-speed working capital to small businesses with limited credit history.
Lendtek is a cutting-edge small business loan marketplace designed to simplify and expedite the process of securing business financing. By leveraging advanced technology and artificial intelligence, Lendtek connects small business owners to a network of trusted lenders, enabling them to compare loan options tailored to their needs.
Founded in Island Park, NY, Lendtek has helped thousands of businesses secure funding, with millions of dollars disbursed to date. Lendtek’s mission is to empower small businesses by providing access to diverse financing options.
The number of traditional and alternative lenders available today makes it difficult for small businesses to locate the best options for their needs and qualifications. You can visit a local bank or apply to one of the many online funders.
Services like Lendza aim to reduce the guesswork and time-consuming research of finding a funder. Business owners can apply to the service once, and it tries to pair you with the best lender for your needs.
However, Lendza might not be suitable for every small business. Some business owners prefer working with a direct funder. Others might want a full-fledged marketplace that provides additional services.
Lendzi is an online loan marketplace that connects business owners and individuals with various lenders. According to the company’s website, it partners with over 60 lenders to present multiple business loan options tailored to the applicant’s needs.
Lendzi was founded in 2020. The company is headquartered (or maintains a listed address) in Culver City, California.
Lexington Capital Holdings is a financial services company that focuses on helping business owners secure funding solutions for small and medium-sized businesses (SMBs). It is not a direct lender but maintains relationships with dozens of lenders. The company helps connect business owners with these lenders to obtain financing solutions.
Lexington Capital Holdings’ unique position lies in its ability to maintain a network of alternative and traditional lenders. This diverse network allows the company to offer various financing options.
Libertas Funding is an online financial services enterprise that funds merchant cash advances (called “revenue-based financing”) and facilitates business term loans.
However, the company is not a good fit for every small business. Its high credit score, time in operation, and revenue requirements are geared more toward medium-sized companies.
Lightspeed Capital is best suited for qualified Lightspeed Payments customers who need fast working capital. It doesn’t require a credit score check or collateral, so it’s also a good fit for credit-challenged business owners without high-value assets.
Established businesses with excellent credit, high revenue, and assets to pledge as collateral can find more advantageous and less costly business loans. However, it provides fast funding, and the open-ended term is attractive.
Lima One Capital is a private hard money lender specializing in real estate investment loans. It caters to investors seeking financial support for their real estate ventures. Qualified borrowers can access substantial capital to pursue their investment goals, allowing individuals with ambitious projects to secure the necessary funds.
LoanBuilder, a PayPal Service, is a small business lending option that provides short-term loans. It is essentially interchangeable with PayPal Business Loans.
However, it shouldn’t be confused with PayPal Working Capital, which works like a merchant cash advance. LoanBuilder, on the other hand, works more like a traditional business term loan.
LoanMe is an online lender that offers both personal and business loans to borrowers across the nation. The company was founded in 2013 and is headquartered on State College Blvd in Anaheim, California. LoanMe built its business model around offering fast, accessible funding for individuals and small business owners who often faced challenges obtaining loans from traditional banks.
LoanMe is known for providing personal and business loans primarily to borrowers with subpar credit histories. Its goal is to help borrowers access emergency business funding and improve their financial standing through on-time payments.
Loot is an online business funding platform that aims to simplify and accelerate access to capital for small business owners. The company was founded with a mission to offer quick, flexible funding solutions through a fully automated platform. Loot helps businesses across industries manage cash flow and grow by providing an easy way to apply for funding without the red tape often associated with banks.
Mantis Funding LLC is a small business financing company based in Boca Raton, Florida. The company was founded to offer alternative funding solutions to small business owners who might not meet traditional bank criteria but still have strong, consistent sales.
According to its website, Mantis Funding aims to provide customized alternative funding solutions for small businesses. The company focuses on working capital options designed to match each business’s unique cash flow financing needs.
Marlin Capital Solutions (now PEAC Solutions) is a nationwide financing provider for business equipment and working capital. Like any lender, the company has its upsides and downsides.
Small business owners have many lending options, from large commercial banks to small alternative lenders. Mulligan Funding is the latter, but the family-owned company provides up to $2 million in business funding.
The online lending company focuses on delivering outstanding customer service and developing lasting relationships through its renewal program. However, it might not be suitable for every small business, especially since it lacks transparency on costs.
National Business Capital (NBC) is a business loan marketplace that connects small business owners to its extensive network of over 75 lenders through a single streamlined application. Founded in 2007 and headquartered in Hauppauge, New York, NBC has grown into one of the most recognized names in small business financing.
National Business Capital acts as a marketplace connecting clients with multiple lenders. Unlike a direct lender, NBC doesn’t issue loans itself. Instead, it matches businesses with financing options tailored to their needs. By working with banks, credit unions, and alternative business lenders, NBC enables entrepreneurs to compare offers across a broad range of loan products.
NewCo Capital Group is a leading FinTech alternative business lending company dedicated to empowering small and medium-sized businesses with fast, flexible funding solutions. Founded in 2020, the company is headquartered in New York, New York, and has rapidly become a recognized name in the alternative lending industry.
Use our simple online application to submit a request for business funding. If you need any help along the way, just give us a call, chat or email.
An expert, knowledgeable account executive will walk you through all the fine details and the requirements. This is to ensure you have all the info you need.
Once your funding has been approved & closed, the lender sends the funds to your account so you can start using it to grow your business.
