Most small business owners can identify with the challenges of getting financing for their business or funding for a new product. There’s no short, easy road to funding, most of the time, but these small business funding resources can help.
List of Online Lending Marketplaces
Business funding resources are crucial for many cash-strapped small businesses. Acquiring third-party funding is the only option to help get their venture off the ground and promote and sustain growth. Fortunately, there are plenty of online lending marketplaces where small businesses can head to in order to find the right type of funding for their specific requirements.
Business Funding Resources Your Small Company Should Consider
If you need to secure financing for your small business, take a look at the following list of online business funding resources which provide different funding options from a variety of lenders.
Biz2Credit
Biz2Credit’s innovative technology platform uses a small business’s lending requirements to help find the best business funding resources available to them. This national lending marketplace brings you a simple way to accelerate the lending process.
The platform matches borrowers to business funding resources, based on every business’s unique profile. The process is completed within minutes, in a secure, efficient and transparent environment.
The Lending Club
The Lending Club connects borrowers with investors through its online marketplace. The Lending Club screens borrowers, facilitates the transactions and secures the loans businesses need to consolidate debt, finance major purchases and more.
Fundera
Fundera is an online portal where you can compare dozens of small business loan options from one convenient place. By using the Fundera marketplace, you can save significant time comparing rates from the leading lenders in the United States. By forcing lenders to compete for your business and making sure you get the best rates and terms, the Fundera platform can help save you thousands of dollars.
The Funding Circle
The Funding Circle is essentially a community of investors offering business loans to companies of all industries and sizes. Funding Circle loans are funded by a community of thousands of investors, who are looking to lend to businesses like yours.
Not only can you secure the money you need for business operations and growth, but with the Funding Circle you can benefit from a quick application process, dedicated account manager and a fast decision.
Venturize
Venturize is aimed at helping organizations take control of their financial future by discovering vetted resources. This online hub for small business financing provides you with unbiased information so you can be better informed about small business lending and how to become loan-ready.
Multifunding
Multifunding is dedicated to helping small businesses find and secure the best financing options. The loan marketplace works with hundreds of lenders across the United States, to find businesses the best loans for their specific purposes.
The online lending portal puts you in contact with a network of lenders, to help you choose the right loan for your business.
Lendio
Use the Lendio platform to match your business borrowing requirements with Lendio’s network of 75-plus lenders. Lenders make offers and help small businesses choose the best loans based on their budget, goals and unique requirements.
Kiva
Kiva proudly asserts to be the world’s first online lending platform, which connects online lenders to entrepreneurs and small businesses. On the Kiva platform, you simply apply for a loan, the loan then goes through the underwriting and approval process and is posted to Kiva for lenders to support. Lenders then crowdfund the loan in increments of $25 or more.
Opportunity Finance Network
The Opportunity Finance Network is run by the National Association of Community Development Financial Institutions. The network is aimed at helping individuals and organizations secure financing where traditional financing doesn’t reach.
The network is aimed at creating positive changes across the United States by financing projects and individuals that create and maintain small businesses, living-wage jobs, community facilities and more.
SmartBiz
SmartBiz is dedicated to making small business lending easier for businesses. SmartBiz’s innovative technology enables fast and easy Small Business Administration (SBA) loans with low monthly payments and competitive rates. With a comprehensive marketplace of SBA-preferred banks, SmartBiz platform will significantly increase the chances of your loan application being successful.
There are plenty of sites that offer business loans – too many to try and list. There are resources at the State and City level, depending on where you live, that can help you financially. There are also lists of USA State websites that offer resources or details around funding and details available on what it takes to qualify for a small business loan as well as sources of start-up funding.
We welcome you to list resources in the comments. We want to see the path to funding get easier, more transparent, and understandable for small business as a whole and we hope these resources do that for you.
| Resource | Description |
|---|---|
| Biz2Credit | Utilizes innovative technology to match small businesses with the best funding resources. Accelerates the lending process by tailoring options to unique profiles. Offers secure and transparent transactions. |
| The Lending Club | Connects borrowers with investors through an online marketplace. Screens borrowers, facilitates transactions, and secures loans for debt consolidation, major purchases, and more. |
| Fundera | Online portal for comparing small business loan options from leading lenders. Forces lenders to compete for your business, resulting in better rates and terms. Time-saving and cost-effective solution. |
| The Funding Circle | Community of investors offering business loans to various industries and sizes. Loans funded by a community of investors. Quick application process, dedicated account manager, and fast decisions. |
| Venturize | Online hub for small business financing. Provides unbiased information to enhance understanding of small business lending and readiness. |
| Multifunding | Works with hundreds of lenders to find the best financing options. Connects businesses with a network of lenders, helping choose the right loan. |
| Lendio | Matches business borrowing requirements with a network of over 75 lenders. Lenders offer loans based on budget, goals, and unique needs. |
| Kiva | World's first online lending platform that connects lenders to entrepreneurs. Apply for loans, undergo underwriting, and crowdfunding support in increments of $25 or more. |
| Opportunity Finance Network | Aimed at securing financing where traditional methods fall short. Supports projects, individuals, and small businesses, creating positive changes across the United States. |
| SmartBiz | Focuses on making Small Business Administration (SBA) loans easier. Utilizes innovative technology for fast and easy SBA loans with competitive rates and low monthly payments. |
Frequently Asked Questions
What are small business funding resources?
Small business funding resources are platforms and services that connect entrepreneurs with various funding options to support their business growth, operations, or new ventures. These resources provide access to loans, grants, and financial assistance from a range of lenders and investors.
Why are small business funding resources important?
Many small businesses face financial constraints that hinder their growth potential. Funding resources offer alternative ways to secure capital, enabling businesses to achieve their goals, expand operations, and innovate without solely relying on traditional bank loans.
What types of funding options are available through online lending marketplaces?
Online lending marketplaces offer diverse funding options, including business loans, lines of credit, SBA loans, and more. These platforms connect businesses with lenders and investors willing to provide the necessary capital for their specific needs.
How do online lending marketplaces work?
Online lending marketplaces match small businesses with suitable lenders or investors based on their unique profiles and funding requirements. The platforms streamline the application process, making it efficient and transparent, allowing businesses to access financing more quickly.
How can I benefit from using an online lending marketplace?
By utilizing online lending marketplaces, you can save time comparing funding options from multiple lenders in one place. These platforms often foster competition among lenders, leading to more favorable terms, rates, and potentially saving you money.
Can I secure financing for different purposes through these resources?
Absolutely. Small business funding resources cater to various purposes, such as working capital, debt consolidation, equipment purchase, expansion, and more. Each platform offers a range of options to suit your specific financing needs.
What are some well-known online lending marketplaces?
Several reputable online lending marketplaces include Biz2Credit, The Lending Club, Fundera, The Funding Circle, Venturize, Multifunding, Lendio, Kiva, SmartBiz, and Opportunity Finance Network.
How does Kiva’s lending platform work?
Kiva connects lenders to entrepreneurs and small businesses in need of funding. Entrepreneurs apply for loans, which undergo an underwriting and approval process. Once approved, the loan is posted on Kiva’s platform, and lenders can contribute in increments of $25 or more to crowdfund the loan.
What is SmartBiz known for?
SmartBiz focuses on making Small Business Administration (SBA) loans accessible and straightforward. Their innovative technology streamlines the process, offering fast and easy SBA loans with competitive rates and low monthly payments.
Are there other funding options available beyond these resources?
Yes, aside from online lending marketplaces, there are state and city-level resources, as well as government programs and grants that offer financial assistance to small businesses. These additional avenues can further support entrepreneurs in securing the funding they need.
How can I contribute to improving small business funding transparency and accessibility?
You can share any additional funding resources or grants that you’ve discovered in the comments section. This collaborative effort helps create a transparent and accessible path to funding for small businesses, making the journey smoother for entrepreneurs.
Why should small business owners explore various funding resources?
Exploring a variety of funding resources allows small business owners to uncover options that align with their unique needs. Different platforms offer tailored solutions, enabling businesses to select the best funding avenue that empowers growth and success.
Conclusion: Unlocking Possibilities for Small Business Funding
Securing financing for small businesses and new ventures can be a challenging journey, often lacking a straightforward route. However, the landscape of small business funding is evolving, and a plethora of resources have emerged to support entrepreneurs on this path. These resources play a pivotal role in bridging the gap between aspirations and financial reality.
Online lending marketplaces have emerged as key platforms that empower small business owners to explore a diverse range of funding options. These platforms offer a lifeline to cash-strapped businesses, enabling them to lift off the ground, sustain growth, and navigate economic challenges. With a multitude of lenders and investors on these platforms, businesses can find tailored solutions that align with their specific requirements.
The highlighted list of business funding resources showcases a selection of leading platforms, each with its unique approach to simplifying the financing process. Biz2Credit, The Lending Club, Fundera, The Funding Circle, and others stand as beacons of innovation and convenience. Through their technology-driven solutions, they transform the funding landscape, enabling swift, secure, and transparent transactions.
As the funding ecosystem continues to evolve, small businesses can access valuable information and support. Platforms like Venturize equip businesses with unbiased insights, empowering them to make informed decisions. Multifunding stands committed to guiding businesses through a myriad of financing options, streamlining the process of securing the best loans.
The path to financing is not limited to traditional avenues, and this is where initiatives like Kiva shine. Kiva’s crowdfunding model showcases the power of community, allowing lenders to contribute as little as $25 to support entrepreneurs. Similarly, Opportunity Finance Network targets underserved segments, striving to create positive changes through financing projects that drive small business growth and community development.
SmartBiz’s dedication to simplifying Small Business Administration (SBA) loans illustrates the potential of technology to reshape the lending landscape. Their efforts emphasize accessibility and ease, unlocking opportunities that might have otherwise seemed out of reach.
Indeed, this is not an exhaustive list. Across the United States, countless additional resources exist at state and city levels, further expanding the horizon for businesses seeking funding. By encouraging collaborative contributions in the comments section, this ecosystem of support becomes even richer and more comprehensive.
In conclusion, these funding resources mark the evolution of financing for small businesses and new ventures. By embracing innovation and technology, entrepreneurs can traverse the funding landscape with greater confidence, guided by transparency, simplicity, and the collective vision of a thriving small business community. As we share insights and resources, we collectively contribute to a brighter future for small businesses, where growth and success are achievable milestones.
If you have discovered a great resource that can help a small business owner find financing or a grant, please share it below.
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This article, "10 Small Business Funding Resources for You" was first published on Small Business Trends
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