Fact: Lending to small businesses by big banks is down 38% since 2006—and our nation’s 5,000,000 small business owners are suffering as a result.
I’m excited to introduce Able, which has a first of its kind solution to the growth capital shortage.
Able’s collaborative small business lending model calls for its borrowers to recruit backers who will fund 25% of the loan, reducing the risk of the loan and thus making their interest rates some of the lowest in the industry (8-16%).
Put another way, Able amplifies the capital your friends and family are able to contribute by 3x.
Their modern and easy-to-use online platform makes the process quick and stress-free (they’ve closed a deal in as little as 1 week).
Its team is dedicated to helping all small business owners at any stage, offering pro bono advice in areas like Finance, Marketing and Design.
It is also one of only 3 national, for-profit lenders of loans over 50K who have committed to fair lending practices by signing the Small Business Borrower's Bill Of Rights.
To learn more about Able, click here for a short video.
To jump in and begin the Able application process, click here.
“Getting capital through Able lets me be excited without hesitation. We can move forward and say YES to business.”
—Lionel Felix, founder of Felix Media Solutions
“Able was modern enough and smart enough to understand our business model.”
—Tyler Richards, co-founder of DevMountain
“Able’s loan model was exactly what we were looking for. We liked the opportunity to involve Backers, people who believe in our mission, to help fund a portion of the loan to help us empower women through design.”
—Kirsten Dickerson, founder of Raven + Lily