PPP loans in 2021: List of online lenders & platforms

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Great news! The Paycheck Protection Program (PPP) is about to be back in business. The new stimulus bill that was signed into law at the end of 2020 provides the PPP with $284 billion in funding.

The new bill allows eligible first-time borrowers and certain small businesses that already received forgivable loans to apply for loans of 2.5 times their average monthly payroll, up to $10 million for first loans and $2 million for second loans.Eligibility for second loans (or draws) is narrower than for first draws.

Businesses cannot have more than 300 employees and must demonstrate 25% loss in gross receipts for any quarter in 2020 compared to the same quarter in 2019.The new bill also expands eligibility to newspapers, TV and radio broadcasters; 501(c)(6) nonprofits; hospitals; and housing cooperatives. It also allows eligible restaurants and businesses in the hospitality industry to apply for 3.5 times their monthly payroll. Additionally, it sets aside $15 billion for live venues, movie theaters and cultural institutions, $20 billion for Emergency Injury Disaster Loan (EIDL) grants (this time limited to small businesses and non-profits in low-income communities) and $2 billion for core programs of the Small Business Administration (SBA), including 7(a), Community Advantage, 504, and the Microloan Program.

At the time of this article’s writing, the SBA had yet to announce when the program would reopen and how it would process applications. Before the PPP closed in August, however, the policy was “first come, first served.”

Speed is likely to be important this round, too. To help small businesses, no matter where they are located, Lantern has compiled this list of online or non-bank lenders, who generally offer speed and convenience over traditional lending institutions. We also included fintech companies that are partnering with lenders to facilitate PPP loans such as Lantern (to expedite your search for a lender, go here directly.)

Related: Grocery shopping on a budget

Paycheck Protection Program (PPP) Lenders and Platforms


Backed by Nexus Venture Partners, Biz2Credit was founded in 2007. According to its site, it is planning on offering PPP loans in the next round. For more info, go here. (See Lantern.)


Founded in 2013, Bluevine is an online lender that focuses on small businesses. It says on its site that it plans to participate in the PPP in 2021. To sign up for updates, go here. (See Lantern.)


Boefly is an online platform that connects borrowers with lenders. Its partners include The Loan Source (see below). The first step in its PPP application program is opening an account. For more information, go here.


Brex, which offers financial management services to startups, established tech companies, and more, offered access to PPP loans through Womply (see below). Its website does not say what it will do for the new round of PPP funding.

Centerstone SBA Lending

A non-bank SBA 7(a) lender, Centerstone provided PPP loans during the first round. Its website says it plans on participating in round two. For more information, go here.


Credibly, which provided PPP loans earlier, says it will begin again through a lending partnership. The online lender has been in business for 10 years; for updates, go here.


Through banking partner Cross River Bank, Divvy provided PPP loans. As of this article’s writing, the company does not say on its site whether it will do so again.

Fountainhead SBA

Non-bank commercial lender Fountainhead specializes in helping small and mid-sized businesses. It offered PPP loans earlier this year, but has not updated its site to say whether it will again in 2021.


Founded in 2013, Fundbox provides business credit through its platform. According to its site, it will help with applications for PPP loans in 2021. For more information, sign up for updates here.


Fundera calls itself an “online marketplace” for small businesses. Through its partners, it offers access to small business financing. This included PPP loans when they were available last round. To learn more, go here. (See Lantern.)

Funding Circle

Having participated in the first round of the PPP, Funding Circle has updated its site to say it will offer first and second draw PPP loans once the program re-opens. For more information, go here. (See Lantern.)

Harvest Small Business Finance

Non-bank SBA 7(a) lender Harvest Small Business Finance is an affiliate of Medalist Partners, LP and offers commercial real estate loans. It plans to offer PPP loans in 2021. Click here to learn more.


Through funding marketplace partner Lendio (see below), Heartland provided funding for PPP loans earlier this year. Its website does not say whether it will again in 2021.

Intuit QuickBooks

Intuit QuickBooks, a non-bank SBA-approved lender, provided PPP loans in the last go-around. As of the writing of this article, its website does not say whether it will participate in the next round.


Kabbage is a fintech company that provided PPP loans to small businesses in the initial round. It has been acquired by American Express and is servicing existing loans through new entity K Servicing. Its site does not mention the new round of PPP loans as of the writing of this article. But its site does say you can inquire about new PPP loans.

Lantern by SoFi

Lantern is an online platform that helps businesses find financing through its network of lenders. The financing solutions include SBA loans, which in turn include PPP loans. Network members  include ACAP + Loan Source, Biz2Credit, BlueVine, Fundera, FundingCircle, Lendio, and LendingClub. To learn more, go here.


Like Lantern, Lendio is an online marketplace for borrowers to find financing from a network of lenders. Lendio says on its site that it plans to submit eligible PPP applications once the program resumes in 2021. (See Lantern.)


Through partner FundingCircle, LendingClub offered help with PPP loan application submissions to the SBA earlier this year. However, its site does not say whether it will do so again in 2021. (See Lantern.)

Loan Source

An SBA-approved lending company, the Loan Source partnered with ACAP to service PPP loans. Its site says it is awaiting further information related to the next phase of the PPP. To learn more, go here. (See Lantern.)


Nav connects borrowers with lenders. It participated in the PPP earlier this year and plans to follow in 2021. For more information, go here.


OnDeck is an online lender that helped small businesses obtain PPP funding in the first round. Its website does not say whether it will in 2021, as of the writing of this article.


Formerly known as New York Business Development Corporation, The 504 Company, and Excelsior Growth Fund, Pursuit provided PPP loan support to small businesses earlier this year. As of the writing of this article, the online lender has not updated its site to say whether it will participate in PPP funding for 2021.

Ready Capital

Ready Capital is a subsidiary of ReadyCap Lending, LLC, a commercial real estate finance company. An SBA Preferred Lender, Ready Capital did provide PPP loans last go-around. Its website does not mention whether it is participating in the new round, though its pre-application form is online.

Reliant Funding

Reliant Funding, partnered with Biz2Credit, facilitated PPP loans for small businesses earlier this year. Reliant Funding has not updated its site in terms of PPP funding in 2021.

Seek Capital

Like Lantern, Seek Capital is an online platform that matches borrowers with lenders. Earlier this year, it partnered with Lendio to offer access to PPP loans, but as of this article’s writing, its site does not mention whether it will in 2021.


As its name suggests, SmartBiz is an online platform that focuses on small business financing. According to its site, it plans to facilitate PPP loans in 2021. To learn more, go here.


Founded in 2014, StreetShares is a small business funding marketplace. StreetShares has yet to update its site with information about the latest PPP stimulus aid.


During the original round of the PPP, Square facilitated PPP funding through its bank partner. As of the writing of this article, the fintech company had not updated its site to announce its plans for 2021.


Womply is a fintech company that offers digital business solutions, including marketing, customer review help, and bill pay. It added PPP loan facilitation this year. To learn more, go here.Lantern matches small businesses with lenders for PPP and other SBA loans. Ready to get started? Sign up to be notified when applications are available. All information was accurate as of the writing of this article. Lantern Credit is affiliated with lenders mentioned above only where noted.Learn more: 

This article originally appeared on Lantern and was syndicated by MediaFeed.org.

This Lantern website is owned by SoFi Lending Corp., a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612. SoFi Lending’s NMLS number is 1121636. NMLS Consumer Access. SoFi Lending Corp. operates this Lantern website in cooperation with Even Financial Corp. (“Even”). If you submit a loan inquiry, SoFi will deliver your information to Even, and Even will deliver to its network of lenders/partners to review to determine if you are eligible for pre-qualified or pre-approved offers. The lenders/partners receiving your information will also obtain your credit information from a credit reporting agency. If you meet one or more lenders’ and/or partners’ conditions for eligibility, pre-qualified and pre-approved offers from one or more lenders/partners will be presented to you here on the Lantern website. More information about Even, the process, and its lenders/partners is described on the loan inquiry form you will reach by visiting our Personal Loans page.This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.\

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