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Able Lending No Longer Offering Loans

Jan. 9, 2018
Small Business, Small Business Loans
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Able Lending, an online small business lender that allowed borrowers to enlist their friends, relatives and other acquaintances as backers, is no longer issuing new loans.

Assets of the Austin-based startup were purchased by Fundation, another small-business lender, in November 2017.

“We are not originating loans under their brand or credit policy,” Fundation Chief Operating Officer Barry Feierstein wrote in an email.

If you’re looking for a small business loan, consider these options:

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If you want to compare financing, use NerdWallet’s small-business loan tool. We gauged lender trustworthiness, market scope and user experience, among other factors, and arranged them by categories that include your revenue and how long you’ve been in business.

Updated Jan. 9, 2018.

Andrew L. Wang is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @andrew_L_wang.