Lendio

Lendio ranks 4th in the list of best online business loans. Lendio is another loan marketplace, so it will not lend you money directly, but they believe they excel in this category because they allow you to compare loan offers from over 75 lenders in the small business space. Having the opportunity to have lenders compete for your business is the best way to ensure you get the best rate and terms on a small business loan.

Lendio was founded in 2011, but it has expanded rapidly since then. They claim to have funded over 300,000 small business loans totaling more than $12 billion so far, and they have no plans to stop anytime soon. Lendio's small business loan program allows you to borrow between $25,000 and $500,000, depending on your needs. You can repay your loan over a period of one to five years, with an interest rate as low as 4.5 percent. 4 Lendio's application process takes only 15 minutes, and you can get a decision the same business day, making it an efficient place to shop for a loan.

Pros

• Compare loan offers from more than 75 lenders
• Funding in as little as 24 hours
• Small business loans, SBA loans, and business lines of credit available

Cons

• Lendio does not lend money directly.
• Eligibility requirements vary, depending on the lender.

Rating: 4.7/5.0

Enroll here: lendio.com