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Mike Berner
Mike Berner is an alternative lender that acts as a marketplace for funding. The company has a variety of loans available in its network, with loan amounts ranging from $5,001 to more than $3 million. The loan terms vary from three months to five years, and rates start at 9%, which is around the average for the lenders we’ve reviewed. If your loan is approved, you can expect to receive funding within a week, which is on the slower end. However, what sets apart from its competitors is its self-service platform, through which business owners can easily find a suitable loan without assistance. logo

The Verdict is a marketplace lender whose platform matches you with options for funding based on your needs. Its algorithm relies on the lender’s trove of data and makes it easy to apply for a loan. It's the best solution for a self-service process. Editor’s Score: 9.0/10

Fast funding7.9
Loan variety9.5
Easy approval9.2
Customer service9.0

Why We Chose as Best for Self-Service stands out from other financiers by providing an easy way for business owners to find funding independently. The company’s online application process is simple: Once you submit the necessary details, the platform uses a special algorithm and a wealth of data from previous customers to match you with the top funding options based on the information you provided. Remarkably, it’s possible to get through the entire process without dealing with a loan specialist. That said, we like that still offers the option to speak with a representative if you have questions or need help with documentation. For these reasons, we found to be the best business loan and financing option for business owners seeking a self-service solution.

Did You Know?’s guide to alternative lending breaks down several categories of alternative lenders, including marketplace and self-service platforms like

What We Like About

  •’s marketplace offers a wide range of loan sizes and terms.
  • The company doesn’t have a credit score requirement.
  • The lender’s platform will match you with the ideal loan through its algorithm, though you’ll still have the option for phone support.

What We Don’t Like About

  •’s time to fund is somewhat longer than similar alternative lenders.
  • The company’s requirements for minimum sales and time in business may exclude some small businesses.

Loan Types and Rates’s proprietary algorithm can match you with several financing products, each with its own rates, terms and loan sizes. These include term loans, lines of credit and merchant cash advances.

Term Loans offers both short- and long-term loans for small businesses. Term loans are a popular financing option for business owners who want to grow their companies. Simple interest and payments that remain fixed over a specified time period make them a more affordable source of funding than lines of credit. [Read related article: Is a Line of Credit or Term Loan Right for Your SMB?]

The term loans available through can be for as short as three months and typically max out at five years. However, loans of 20 years or more may be available in specific situations, such as real estate financing. Our research found that annualized rates with start at 9%. Interest rates vary based on your credit score and other factors. To be eligible for a term loan, your business must generate at least $100,000 in annual revenue, and you need to show that you’ve been in operation for at least six months.

FYI’s short-term loans are commonly used for working capital and inventory needs.

Merchant Cash Advance

A merchant cash advance (MCA) isn’t a loan in the conventional sense. Rather, it’s a form of financing where a lender purchases a portion of your future sales in exchange for giving you an upfront cash payment. This cash advance can be used for business-related expenses, such as inventory purchases, equipment, marketing and advertising opportunities, or other short-term capital needs. estimates that the payback is 20% to 40% of the amount borrowed.

Line of credit

A business line of credit allows you to get money as needed and pay interest only on the amount borrowed. This type of loan provides a fixed amount of funding that you can access whenever you need it. This type of credit has shorter repayment periods than term loans and is usually not as flexible. notes that many lines of credit offered by lenders in its network have an annual maintenance fee of $150 after the first year.


A line of credit is often used by businesses as a backup source of financing in case of emergencies.


As an alternative lender,’s marketplace can provide flexibility and support for your business at different growth stages. We like that even with a starting rate that’s competitive with other alternative lenders we evaluated, the total interest paid on’s loans may be lower in some cases. [Learn how to calculate loan payments.]

Here are some additional factors to keep in mind when shopping for a loan with’s self-service platform.

Collateral provides both secured and unsecured loans. An unsecured loan means you don’t need to put up collateral for the loan. In many instances, however, you’re required to sign a personal guarantee, which means you’re liable if your business doesn’t pay back the loan.

Special Documentation doesn’t require much documentation to get started on a loan application. Initial questions include basic inquiries about your annual revenue and most recent business bank account deposit. Gathering these details shouldn’t be difficult if you’re already using high-quality accounting software to manage your business’s finances.

Application Process’s process for applying for a loan is one of its standout features. This financing provider distinguishes itself from rivals by offering a straightforward method for business owners to locate funding on their own terms. The online application takes just a few minutes to fill out, with only a few basic questions about your business and revenue figures. Then the platform uses this information, along with its extensive data from previous users, to match you with several funding options. To make it even more convenient, the application is mobile-friendly and can be completed on either a desktop computer or smartphone. application

We found’s initial application very easy to fill out. Source:

Customer Support

Although’s online platform uses software to match you with a funding source automatically, many customers choose to speak with a funding specialist anyway. After you receive your initial loan offers, provides the option to talk it all through with a representative if you have any concerns. The company says that the vast majority of applicants utilize this option, even though the self-service nature is one of the main reasons the company is so appealing. It’s nice to know you can have the best of both worlds.

For other kinds of support, the website is filled with helpful content, including a blog on small business financing, guides to the different loan products and FAQs. While is a relatively new loan provider, we see it as a positive sign that the company hasn’t received any complaints to date on third-party user review sites, such as the Better Business Bureau’s.

Limitations is an excellent lender for small business owners looking for a self-service experience, but there are a few drawbacks to keep in mind. One is that the company requires a minimum of $100,000 in annual sales in order to qualify for funding, which may exclude smaller businesses and sole proprietors. Additionally,’s term loans require a minimum of six months in operation. If your business doesn’t meet these stipulations, you may need to consider ways to self-fund your business. However, it’s also worth checking out our review of Accion, which has a much lower revenue qualification but a longer time requirement.

Also, although same-day funding may be available through some of the lenders in’s network, it could take up to a week following approval to actually receive the funds. Business owners who need money right away should take a look at the faster options detailed in our Rapid Finance review.


We looked across the market to find the best financing options for small businesses. As part of our investigation, we examined different loan providers and their platforms, studying their credit requirements, loan types, minimum sales requirements, required minimum time in business, customer service options and speed of funding. We also assessed financial factors, including each financier’s starting interest rates, loan terms and loan sizes. To determine the top lender for business owners who prefer a self-service process, we researched each company’s use of self-service technology to facilitate funding searches and approval, and analyzed the variety of loans available.


Does work with startups?

Yes, works with startups and early-stage companies, but it mandates a business have six months of operation history to qualify for a term loan.

How long has been in business? has been around for approximately three years. The marketplace lender was founded in 2020.

Will applying at impact my credit score?

No, applying at with the initial application will not impact your credit score.

Bottom Line

We recommend for …

  • Business owners who’d like to find funding via a self-service platform that matches them with different options.
  • Business owners who want access to the variety of loan providers that a marketplace lender can offer.

We don’t recommend for …

  • Businesses that don’t meet the minimum-sales or time-in-business requirements.
  • Businesses that need immediate funding guaranteed to arrive quickly. logo

The Verdict is a marketplace lender whose platform matches you with options for funding based on your needs. Its algorithm relies on the lender’s trove of data and makes it easy to apply for a loan. It's the best solution for a self-service process.

Mike Berner
Mike Berner
Staff Writer
Mike Berner is a staff writer at and Business News Daily specializing in finance. Mike has a deep background in the financial world, having written hundreds of articles and blog posts on financial markets, business and investing. He holds a B.A. in economics and a B.B.A. in finance, both from the University of Massachusetts, Amherst. Prior to his writing career, he performed quantitative analysis and research as an economic analyst.