Category: Lenders

Digital SMB Lenders

Lending to small- and mid-sized businesses (SMB/SME) is further along than many fintech services. While there were a few players in the early 2000s (just 4 remain), the market exploded after the 2007/2008 financial crisis with 10 companies founded from 2007 to 2011 and another 13 from 2012 to 2015. The pace slowed with about 1 new company per year since then. 

Businesses constantly need capital and smaller businesses have fewer options. So most digital fintech lenders are so-called alt-lenders, meaning they are an alternative to traditional financial institutions.

By using different underwriting techniques alt-lenders are able to lend to a much more diverse segment of businesses. This generally comes at substantially higher interest rates. But the comparison to legacy banks is meaningless. All that matters to the business is they make an acceptable risk-adjusted return on the borrowed funds. And to survive, alt-lenders make sure they only lend on terms that borrowers can make a profit on. 

Small Business Lender of the Month*

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Larger Offers | Lower Rates | Longer Terms | Business Line of Credit Funds in 24 Hours.

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Here are the biggest digital SMB lenders in the United States:

The FAB Score Ranking (Fintech Attention Barometer) is a proxy for the size of a private fintech company.

Company OverviewLearn MoreFAB Score*FoundedFunding $M
NBC-logoNational Business CapitalAd2007$120,000ApplyNYC
SMB Lenders: Kabbage Continues to Cook Under American Express OwnershipKabbage36220082500ApplyAtlanta11 May 202113600000250046005302300050066434.883034.9
BluevineLogoBlueVine2822013$768ApplySF11 May 202128700007569379239031213904.694.6
Pipe-logo-squarePipe1992019$323ApplyMiami, FL110,000
OnDeckOnDeck1972007$1,200ApplyNYC11 May 20215100,000012005481190058724054.9102.3
1822012$92ApplyUtah11 May 20217850000099
camino-financial-logoCamino Financial1772014$170ApplyLA11 May 202111280000020.46722103281.8
FundboxFundbox1452013$554ApplySF31 Mar 2020101800000434378737720277174057814.9
Can CapitalCan Capital1281998$1,002ApplyAtlanta11 May 2021812000010029221102006954.5
LendioLendio1062011$109ApplyUtah11 May 20214400,00001091001160035022924.9
Bix2CreditBiz2Credit892007$387ApplyNYC18 May 20216200,0000387
Fundera Logo


872013$19ApplyNYC11 May 20219600,000018.95528600966284.8Lead gen
NuulaNuula672021$120ApplyToronto9 Sep 20213,600
cropped-Novel-Logo_combination-mark_RGB_black-lettersNovel Partners622018$115ApplyOverland Park, KS
Lighter CapitalLighter Capital592010$116ApplySeattle12 May 20211381,00016
LendistryLendistry56201594.8ApplyLA (Brea)11 May 20211243000$1.50
Fund that FlipFund that Flip412014$33ApplyNYC11 May 202115100,000013.28373041
SmartBizSmartBiz182009$37ApplySF11 May 2021385,0000371210157110154.8
IOU FinancialIOU Financial162011$132ApplyAtlanta11 May 20212543,0002.13031310504084.6
SMB XSMBX132016$15ApplySF11 May 20212126,0002.51.2317316184.7Small Business Bonds Marketplace
BizfiBizfi132005$160ApplyNYC11 May 2021141,200016020758901814394.4Acquired by WBL in 2017
CredibilyCredibly102010$77ApplyDetroit11 May 20211612,000077458701554284.5
Honeycomb CreditHoneycomb Credit102017$10.5ApplyPittsburgh, PA12 May 20211722,0001.81.3
ForwardLineForwardLine82003$120ApplySF11 May 2021237,7000120
Patch of LandPatch Lending72013$55ApplyLA11 May 2021224,100024.9345100036154.4
float-logo-greenFloat Financial72021$1.3ApplyHonolulu
Snapcap logoSnapCap (LendingTree)62012UnknownApplyCharleston, SC65000
SalaryoSalaryo42017$12ApplyNYC11 May 2021181,7005.86.31510
B2B InvestorP2B Investor22012$33ApplyDenver11 May 2021241,400033.325272014
Channel-logo-squareChannel Partners22009$50ApplyMinneapolis, MN1,400
LendrLendr02011$25ApplyChicago11 May 2021291,200025161339
LendineroLendinero02014$0ApplyMiami11 May 20212850000.0399602874.3
Rapid-Finance-logo-squareRapid Finance02005UnknownApplyWash DC (Bethesda)60,000
LendvoLendvo02015$1.3ApplyWash DC11 May 2021264,20001.3

Source: FintechLabs, 3 Feb 2022 from Crunchbase, SimilarWeb, SEMrush and other news sources

*FAB SCORE:  The FAB score, Fintech Attention Barometer, is a proxy for the overall size of a private company since they typically do not release traditional metrics (# customers, deposits, AUM, etc). The score is based on VC funding, website traffic, mobile downloads, and the number of employees. It's a work in progress, so expect changes in the formula.

Definition: To qualify, challengers don't need to originate loans themselves or be regulated as a financial institution. Startups must focus on small-business credit/debt (eliminates Paypal, Amazon, Square) delivered digitally (rules out Wells Fargo, BofA, and the majority of traditional banks). We will include divisions of traditional FIs if they operate under a separate autonomous brand, such as American Express's Kabbage unit.  

FAB Score*FoundedFunding $M$152$296$75
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Company OverviewFAB Score*FoundedFunding $M
SMB Lenders: Kabbage Continues to Cook Under American Express Ownership36220082500Atlanta
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Last Updated: August 2021
CompanyFAB Score*FoundedFunding ($M)
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Updated June 2021
FAB Score*FoundedFunding ($M)
802017$306Wash DC
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