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PPP Loans in 2021: List of Online Lenders and Platforms

PPP Loans in 2021: List of Online Lenders and Platforms
Gabriela Cordero
Gabriela CorderoUpdated May 20, 2021
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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
Great news! The Paycheck Protection Program (PPP) is still in business! Originally slated to end March 31, the program now has been extended to May 31. The stimulus bill that was signed into law at the end of 2020 provided the PPP with $284 billion in funding, while the American Rescue Plan Act, signed by President Joe Biden in March 2021, injected the program with an additional $7.25 billion. (It also provided $15 billion for Targeted Economic Injury Disaster Loan Advances, $28.6 billion for the Restaurant Revitalization Fund, and $100 million in free small business grants to eligible organizations in need of financial assistance.)With the reopening of the PPP, eligible first-time borrowers and certain small businesses that already received forgivable loans may 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.Recommended: How You Can and Cannot Use Your EIDL Loan

More Business Sectors Now Eligible

New legislation expanded the 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, the American Rescue Plan Act expanded eligibility to certain nonprofit organizations (that are exempt from taxation), shuttered venues, and more. Recommended: Small Business Grants: Free Money for Your Business

Getting in Your Application

As mentioned earlier, the SBA is accepting applications until May 31. 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 (which can expedite your search for small business loan options.) 

Paycheck Protection Program (PPP) Lenders and Platforms


Backed by Nexus Venture Partners, Biz2Credit was founded in 2007. According to its site, it is offering PPP loans, but is prioritizing submitted applications. New applicants should expect a processing time of 12 - 14 business days. 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 is currently accepting the PPP applications for first- and second-draw loans. To learn more, go here. (See Lantern.)


Boefly is an online platform that connects borrowers with lenders. 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). For more information, apply here.

Centerstone SBA Lending

A non-bank SBA 7(a) lender, Centerstone provided PPP loans during the first and second round. Its website still provides information about the program, but does not appear to be participating in the new round. For more information, go here.


Credibly, which provided PPP loans earlier, is partnering with Funding Circle this time around. The online lender has been in business for 10 years; for updates, go here.


Through banking partner Cross River Bank, Divvy provided PPP loans. The company has now teamed up with Lendio; its site is taking applications during 2021. 

Fountainhead SBA

Non-bank commercial lender Fountainhead specializes in helping small and mid-sized businesses. It offered PPP loans last year, and according to its site, it is currently accepting applications.


Founded in 2013, Fundbox provides business credit through its platform. According to its site, it is helping with applications for PPP loans in 2021. For more information, go here.


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

Funding Circle

Having participated in the first and second round of the PPP, Funding Circle is also offering first and second draw PPP loans now that the program has re-opened in 2021. 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 is currently offering first-draw and second-draw PPP loans. Click here to learn more.


Through funding marketplace partner Lendio (see below), Heartland provided funding for PPP loans last year. Its website says it is doing this again this year.

Intuit QuickBooks

Intuit QuickBooks, a non-bank SBA-approved lender, provided PPP loans in the last go-around. Its website still provides information about the program, but does not appear to be participating in the new 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 says that borrowers who got PPP loans through them can apply for second-draw 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 start your application, go here


Like Lantern, Lendio is an online marketplace for borrowers to find financing from a network of lenders. Lendio is accepting applications through its site. (See Lantern.)


Through partner FundingCircle, LendingClub offered help with PPP loan application submissions to the SBA last year. It's doing so again for the new round. For more information, go here. (See Lantern.)

Loan Source

An SBA-approved lending company, the Loan Source partnered with ACAP to service PPP loans. Its site is accepting applications. To learn more, go here. (See Lantern.)


Nav connects borrowers with lenders. It participated in the PPP last year and is doing so again in 2021. For more information, go here


OnDeck is an online lender that helped small businesses obtain PPP funding in the first round. According to its website, it is not participating in 2021. 


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. You can submit an application on its site.

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 is accepting applications online.

Reliant Funding

Reliant Funding, partnered with Biz2Credit, facilitated PPP loans for small businesses earlier last year. Its site is accepting applications this round.

Seek Capital

Like Lantern, Seek Capital is an online platform that matches borrowers with lenders. As it did last year, it is partnering with Lendio to offer access to PPP loans. For more info, go here.


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


Founded in 2014, StreetShares is a small business funding marketplace. It does not appear to be participating in the current PPP round. Its site recommends that PPP applicants reach out to their bank or credit union.


During the original round of the PPP, Square facilitated PPP funding through its bank partner. According to its site, the fintech company is sending emails or dashboard notifications to current customers (sellers) who are eligible to apply.


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 start your application? PPP loan applications via Lantern can be submitted to the SBA as of Jan. 15.All information was accurate as of the writing of this article. Lantern Credit is affiliated with lenders mentioned above only where noted.
Tax Information: 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.

About the Author

Gabriela Cordero

Gabriela Cordero

Gabriela Cordero is a personal finance writer who has covered stocks, student loan debt, and financial strategies to help people take control of their money. She graduated from St. Mary’s College of CA, where she majored in marketing and data analytics. She lives in Palo Alto, where she enjoys hiking and exploring different types of food.
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