Securing an SBA loan can feel like sprinting through molasses. You wade through forms, wait weeks for a banker to call, then hold your breath while the government reviews every line. Yet demand keeps surging: in fiscal 2024, lenders approved more than 70,000 SBA 7(a) loans worth $31.1 billion . That gap between urgency and red tape is exactly why online SBA-loan marketplaces matter. One digital application routes your file to lenders already fluent in the SBA rulebook—so you spend less time chasing signatures and more time growing your business.
Our ranking methodology
Every marketplace on our shortlist went through the same five-part stress test. We cared about one result above all: how quickly you receive a real, actionable response from an SBA lender.
First, speed to first offer. We timed the journey from first click to the initial email or call with clear next steps. Platforms that replied within 72 hours scored highest, while responses that dragged past a week lost points.
Second, transparency. Does the site spell out costs and credit pulls in plain English or hide them in footnotes? SmartBiz, for example, displays its 2 percent referral fee and 2 percent packaging fee, so it earned full marks despite the price.
Third, borrower cost. Most marketplaces are free because lenders pay the referral tab. Any platform that added borrower fees lost points, unless the extra charge clearly unlocked faster approvals or dedicated support.
Fourth, product breadth. A site with one SBA partner is a one-lane road; a marketplace with dozens of banks and fintech lenders is a six-lane highway. More lanes mean more chances for approval and a better rate.
Fifth, customer sentiment. We sifted through tens of thousands of recent Trustpilot reviews to gauge support quality, pressure tactics, and real-world funding times. High praise pushed scores up, while patterns of ghosting or spammy follow-ups pulled them down.
Weighting: response quality 40 percent, transparency 20, borrower cost 15, product breadth 15, and customer reviews 10. The blend creates a 100-point, data-first ranking that rewards speed and honesty, not hype.
Marketplace snapshot: speed, fees, and reputation
Before we look at each marketplace in detail, here is a side-by-side view. It shows who charges what, how quickly you can expect a reply, and which platforms borrowers praise most.
| Rank | Marketplace | Lenders in network | Time to first offers* | Borrower fees | Trustpilot rating |
| 1 | Lendio | about 75 partners | 24–72 hrs | None | 4.8 ★ |
| 2 | Fundera by NerdWallet | about 30 curated banks | 48 hrs | None | 4.7 ★ |
| 3 | SmartBiz | about 10 SBA banks | 5-min pre-qual / 30–60 days funding | 4 percent of loan | 4.6 ★ |
| 4 | Biz2Credit | 20+ (plus in-house lending) | Same-day conditional | Varies† | 4.6 ★ |
| 5 | Nav | 100+ partners | Instant matches | None (free tier) | 4.5 ★ |
| 6 | LendingTree | 40+ lenders | Minutes (multiple calls) | None | 4.5 ★ |
- Time ranges reflect typical SBA-loan experiences, not faster alternative products.
† Biz2Credit adds origination fees on its own term loans; SBA loans follow standard SBA costs.
Use the grid as a quick check. If zero fees and broad lender reach rank first for you, Lendio and Fundera lead the pack. Willing to pay a 4 percent premium for guided, SBA-only help? SmartBiz may be worth it. Want options beyond SBA or prefer seeing approval odds in real time? Biz2Credit and Nav keep the door wider.
Next, let’s see why Lendio holds the number-one spot.
1. Lendio: best overall for fast responses
One application can trigger three or four real offers within a couple of days, and Lendio’s dedicated SBA team can convert those offers to funded cash in as little as two weeks, giving you choice instead of a single take-it-or-leave-it quote.
Snapshot: why Lendio leads the pack
Lendio works like a matchmaking engine. Complete a 15-minute questionnaire and the platform scans about 75 banks, credit unions, and fintech lenders to find SBA fits.
That depth pays off. One application can trigger three or four real offers within a couple of days, giving you choice instead of a single take-it-or-leave-it quote.
You pay nothing for that reach. Lendio earns its fee from lenders, so every borrowed dollar stays in your business.
A dedicated funding manager then calls to clarify goals, collect documents, and nudge slow lenders. The mix of speed and human help keeps Lendio at the top of our list.
Key numbers and real-world performance
- Network: about 75 active partners, from Live Oak Bank to fintech newcomers.
- Funding volume: $15 billion delivered to 400 000 small businesses as of March 2024.
- Speed: application in under 15 minutes; at least one conditional SBA offer within 24–72 hours when financials are ready.
- Borrower cost: zero platform fees; you only pay standard SBA guarantee and closing costs.
- Trustpilot: 4.8 stars based on more than 21 000 reviews.
Big network, quick replies, and no borrower fees make Lendio a powerful first stop when you need SBA capital without the wait.
2. Fundera by NerdWallet: best for concierge-style guidance
Snapshot: a personal banker in marketplace clothing
Fundera swaps raw lender volume for white-glove service. Backed by NerdWallet’s content engine, the platform works with about 30 top-performing SBA lenders and pairs you with a human advisor who stays with you from first document upload to final signature.
Because the pool is smaller, you avoid a flood of calls; everything routes through your Fundera rep. After a brief online intake and a soft credit pull, expect a callback within 48 hours outlining your best SBA options with clear pros and cons.
Fundera is free for borrowers. Like Lendio, it earns its fee from lenders, so every dollar you borrow can go toward payroll, inventory, or growth.
The results show in reviews. A 4.7-star Trustpilot rating, filled with client shout-outs, confirms that steady, informed guidance still wins hearts in a digital world. If you prefer fewer voices and deeper expertise over a massive lender list, Fundera feels like having a former SBA banker on speed dial.
3. SmartBiz: best for streamlined, SBA-only funding
Snapshot: turning a marathon into a jog
SmartBiz focuses on one goal: moving well-qualified owners through the SBA 7(a) process faster than a branch visit.
Start with a 5-minute questionnaire that runs your numbers against SmartBiz’s algorithm and its circle of about 10 Preferred Lenders. If you clear the 680-credit and 2-years-in-business hurdles, you see a pre-qualification screen almost instantly. A relationship manager then reviews your documents and guides the file to the bank most likely to approve.
Speed comes at a price. SmartBiz adds a 4 percent fee to every funded loan—2 percent for the match and 2 percent for packaging the SBA paperwork. The fee rolls into the loan, so no cash leaves your pocket up front, but it does raise the long-term cost.
Many borrowers feel the surcharge is fair for trimming weeks off a slow process. Trustpilot reviews praise clear communication, transparent pricing, and relief at cutting red tape, though some note that an SBA loan still takes time.
Bottom line: if your credit is strong, your books are clean, and you are willing to pay for an express lane, SmartBiz can turn the usual SBA obstacle course into a guided sprint.
4. Biz2Credit: best hybrid for speed and backup plans
Snapshot: one application, multiple off-ramps
Biz2Credit wears two hats. It funds SBA loans itself and also shops your deal to partner banks when that makes more sense.
Fill out its quick form and the underwriting engine reviews tax returns, cash-flow metrics, and credit data almost in real time. If your numbers work, you could see a conditional SBA approval the same day, with funding in about 30 days. If the SBA path stalls, Biz2Credit pivots quickly, offering its own shorter-term working-capital loan so you are not stranded.
That flexibility can save owners who cannot afford downtime, but it comes with homework. Origination fees on Biz2Credit-funded loans and double-digit APRs can dwarf low SBA rates. Stick to the SBA offer if that is what you came for; treat the pricier alternative as a last resort.
Customer reviews show a mix of high praise for rapid cash and frustration over sales pressure on high-cost products. A steady 4.6-star Trustpilot average suggests the model works when expectations are clear.
Choose Biz2Credit if you want SBA speed with an immediate backup loan available, but keep your goal fixed on the affordable option.
5. Nav: best for seeing where you stand before you apply
Snapshot: credit clarity meets matchmaking
Wish you could peek at a lender’s scorecard before sharing a single document? That is Nav.
Create a free account and the platform pulls your personal and business credit files with a soft inquiry. Seconds later, it shows your scores with plain advice such as “SBA lenders look for 680+; you are at 702, nice work!” along with a ranked list of loan offers you are likely to qualify for.
Nav does not fund loans or broadcast your contact details to 10 banks at once. Instead, you choose the lender you like, avoiding a rush of calls. Paid plans add weekly credit updates and access to a funding coach, but the core matching tool stays free.
Users praise the transparency. A 4.5-star Trustpilot rating cites detailed credit tips and relief at avoiding wasted hard pulls. The trade-off: once you pick a lender, Nav steps aside; you still complete that lender’s full application and wait for underwriting.
Choose Nav if you are early in the hunt, want to polish your credit before applying for an SBA loan, or simply prefer to shop offers without handling a stack of follow-up calls.
6. LendingTree: best for casting the widest net fast
Snapshot: speed dating for business loans
Need to see how many lenders will bite on your SBA request before lunch? LendingTree makes it happen.
Submit a short intake form and the platform pushes your profile to about 40 banks and online lenders within seconds. Your phone starts ringing almost immediately, each caller ready to pitch terms or request documents. Owners who enjoy competition can surface deals they never knew existed.
Because LendingTree is a pure lead generator, you pay nothing to use it. Lenders cover the fee, so no broker charges appear later. That model also hands control to the lenders, so follow-up styles vary; some reps are consultative, others hard-charging salespeople.
Borrowers praise the volume of options and the power to pit offers against each other. Critics point to inbox overload and the need to repeat paperwork with every lender. An A-plus BBB rating and a 4.5-star Trustpilot average show the platform delivers on its promise—provided you set clear boundaries and schedule time to field calls.
Choose LendingTree when you want instant market feedback, do not mind sifting through multiple term sheets, and feel confident saying “no” until the right SBA lender rises to the top.
Conclusion: how to choose the right marketplace for your business
Start with a quick timing check.
If you need capital inside 2 weeks, no marketplace can move an SBA loan that fast. Consider Biz2Credit’s bridge option or a short-term offer from LendingTree, then refinance with an SBA deal when the clock is kinder.
Next, gauge your paperwork stamina.
Hate juggling calls from multiple lenders? Stick with high-touch platforms like Fundera or SmartBiz, where one advisor shields you from the phone surge. Comfortable fielding offers like a pro at a trade show? LendingTree’s rapid-fire model can work in your favor.
Credit score counts, but context counts more.
Nav is ideal if you are unsure whether a 650 will satisfy SBA lenders. Its free dashboard shows where you stand and what to fix before you apply, sparing you pointless hard pulls.
Cost comes last, only because the first three filters remove bad fits quickly.
Zero-fee marketplaces such as Lendio and Fundera let you keep every borrowed dollar. SmartBiz’s 4 percent charge makes sense only when the time you save is worth the premium.
Above all, gather your documents early.
Tax returns, year-to-date financials, and a tidy debt schedule can cut days off underwriting. If you need a refresher on lender expectations, skim our quick primer on preparing for a business loan before you press “Submit.”
Choose a marketplace the way you choose any partner: the one that respects your timeline, your communication style, and your bottom line. Get that trio right and the rest falls into place.
Frequently asked questions
Are SBA-loan marketplaces safe?
Yes. The large platforms on our list use bank-level encryption and share your data only with lenders you select. Verify you are on the official site and never pay an up-front “processing” fee to an unknown caller.
Will my credit score drop just for shopping?
Browsing is harmless. Marketplaces run a soft credit pull that does not affect your score. A hard inquiry appears only when you proceed with a specific lender and approve full underwriting. Keep all SBA applications inside a 30-day window and most scoring models treat multiple pulls as one.
Do I pay extra interest by using a marketplace?
The SBA sets rate caps, so interest stays the same whether you walk into a bank or arrive through Lendio. The only added cost is a broker or packaging fee. Four of our six picks charge nothing; SmartBiz folds a 4 percent fee into the loan for its paperwork service.
I am a brand-new startup—can I still get an SBA loan through these sites?
Probably not yet. Most SBA lenders want at least 2 years of operating history. Use Nav to track and build your credit, explore microloans, or consider a shorter-term option until your revenue matures.
Can I negotiate once I have offers?
Absolutely. Multiple term sheets give you leverage. Politely let each lender know you are comparing rates and fees, then ask whether they can sharpen the deal. Marketplaces like Fundera or Lendio will even handle that back-and-forth for you.
Still have questions? Drop them in the comments below and we will tackle the tricky ones in future updates.
Glossary of SBA lending essentials
SBA 7(a) loan. The workhorse of government-backed small-business financing. It funds working capital, equipment, and real-estate purchases up to $5 million, with interest capped at a spread over the Wall Street Journal prime rate.
SBA 504 loan. A two-lender structure for large, long-term assets. Your bank covers 50 percent, a nonprofit Certified Development Company covers 40 percent, and you bring 10 percent to the table, making it useful for buying or building owner-occupied property.
SBA Express loan. A streamlined cousin of 7(a). Lenders receive an SBA response in 36 hours and can approve up to $500 000 on their own paperwork, trading a lower SBA guarantee for speed.
Preferred Lender Program (PLP). A badge the SBA gives to top-performing banks. PLP lenders underwrite and sign off on 7(a) loans without sending the file to the SBA for a second review, saving weeks.
Soft versus hard credit pull. A soft inquiry lets a marketplace preview your score without lowering it. A hard pull appears only when you proceed with a specific lender and may lower your score a few points.
Packaging or referral fee. A charge some intermediaries add to assemble SBA paperwork and match you to a bank. SmartBiz, for example, adds a 4 percent combined fee.
Origination fee. A lender’s own processing charge, common on non-SBA loans from fintech firms like Biz2Credit. It is usually a flat percentage of the amount funded.
Personal guarantee. A clause that makes each owner with 20 percent or more stake personally liable if the business cannot repay. Every SBA loan requires it.
UCC lien. The legal filing that lets a lender claim business assets as collateral. Expect one on nearly every SBA loan, even when no specific property is pledged.
Marketplace versus broker. Both connect you to lenders. A marketplace relies on automated matching across many partners, while a traditional broker shops your deal manually. Today’s top platforms often blend the two approaches.
Sources and further reading
We grounded every claim in published data, not opinion. Below are the references worth bookmarking if you plan to pursue an SBA loan or track the market.
- Bankrate SBA lending report. Confirms that the Small Business Administration backed more than 70 000 7(a) loans totaling $31.1 billion in fiscal 2024, a clear sign of demand for government-guaranteed capital.
- Merchant Maverick review of SmartBiz. Breaks down SmartBiz’s 2 percent referral fee and 2 percent packaging fee, helping us separate true costs from marketing gloss.
- Lendio press release, March 2024. Notes the platform’s $15 billion funded milestone, 400 000 businesses served, and a lender roster of about 75 partners, which supports our top ranking.
- Trustpilot reviews. Tens of thousands of recent ratings reveal real-world support quality, pressure tactics, and funding times across all six marketplaces.
- SBA standard operating procedures. Outline guarantee percentages, fee caps, and eligibility rules.
- Federal Reserve Small Business Credit Survey 2025. Provides macro trends on approval odds, interest-rate spreads, and credit tightening.
Dive into these reports if you need deeper data on approval rates, interest ranges, or lending cycles.
