List of Non-Bank Lenders for PPP Loans


Non-Bank Lenders Accept Applications for Payroll Protection Program

The second race for Payroll Protection Program forgivable loans begins today, April 27th


Now that the new Paycheck Protection Program and Health Care Enhancement Act has been signed into law, an additional $310 billion has been designated to help small businesses keep employees on the payroll. The U.S. Small Business Administration says it will start accepting applications from approved PPP lenders again today.


This new round of funding includes provisions aiming to funnel financial assistance to smaller businesses initially shut out of loans. The law sets aside $60 billion for small- and medium-sized community banks and credit unions and less traditional lending companies that are SBA-approved.




BlueVine: This online business lender will accept applications from any small business interested in applying for a PPP loan. BlueVine’s website states qualified applications will be submitted to the SBA when funding for the program is available.


Centerstone SBA Lending: This nonbank, SBA-approved lender is now accepting applications from small businesses seeking PPP loans, but not sole proprietors or independent contractors.


Fountainhead: As a nonbank lender licensed to make SBA 7(a) loans, Fountainhead originally accepted applications from any small business, not just existing customers. The company has currently paused application submissions. If it resumes accepting applications, you can make a loan request online as the first step in the process.


Funding Circle: This online marketplace, which connects investors with small businesses seeking loans, is now accepting PPP applications. Once you submit the online form, Funding Circle will put you in touch with an account manager to complete your application. Its website says it may refer you to one of its partners to get funding.


Harvest Small Business Finance: This nonbank, SBA-approved lender says it focuses on commercial real estate lending to “small business borrowers who have traditionally been ignored by large, regional, and community banks.” It is accepting applications for PPP loans from any qualifying business through its website.


Kabbage: Prior to the coronavirus crisis, this fintech company made loans to small businesses and consumers through its lending platform. It has now partnered with an SBA-authorized bank to process and disburse PPP loans to qualified small businesses. But while PPP can provide businesses with up to $10 million in forgivable loans, you can only apply for up to $2 million in funding through Kabbage.


Intuit/QuickBooks Capital: This maker of accounting, tax and budgeting software has received SBA approval to serve as a lender for PPP loans. Payroll and QuickBooks Self-Employed customers who filed 2019 taxes with TurboTax Self-Employed can sign in to their accounts to see if a PPP application is available.


Lendistry: This California-based community development financial institution (CDFI) has an online application process and can submit PPP loans to the SBA from small businesses in the following states: California, Colorado, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, New Jersey, New York, Pennsylvania and Texas. Lendistry announced on April 23 that it received an influx of capital from Goldman Sachs to help fund PPP loans. Businesses can only receive up to $250,000 in PPP funding from Lendistry.


OnDeck: In partnership with Celtic Bank, this online nonbank lender was approved by the SBA to accept applications for PPP loans. The company’s site says that priority may be given to existing OnDeck customers and any approved loans may be issued by OnDeck or one if its banking partners. Applicants will be notified which bank they’ll work with when the loan is approved. The company is processing and servicing loans.


PayPal Holdings: Working with WebBank as its partner lender, PayPal is now accepting applications for PPP loans from PayPal merchants.


Square Capital: Although Square is best known for its point-of-sale software, the company received SBA approval to accept applications for PPP loans. Current Square customers will be notified when the program is live.

The Loan Source: One of a small group of nonbank lenders that were approved by the SBA in 1994 is now accepting and processing applications for PPP.


VelocitySBA: This SBA-approved non-bank lender works with existing clients to process PPP applications. 




Brex: Although the company is best known for its corporate credit cards that don’t require a personal guarantee, Brex has partnered with Womply, a loan agent that connects prospective borrowers with SBA-approved lenders. Brex customers can fill out an application that uses Womply’s software to submit qualified PPP loan applications to the SBA.


Community Reinvestment Fund, USA: More commonly known as CRF, this community development financial institution is a registered nonprofit organization with a specific emphasis on supporting nonprofits and small business owners. After receiving capital from Goldman Sachs, CRF is now accepting PPP applications from nonprofits and small businesses in Missouri; New Hampshire; Ohio; Rhode Island; and Salt Lake County, Utah.