As Its Peer Winds Down, Able Lending Commits $5 million to Dallas Companies

By Srividya Kalyanaraman

Small business lender Able Lending will pump in $5 million to fund companies in the Dallas-Forth Worth area in the wake of its peer running out of business.

Able calls itself “lowest cost non-bank lender” to small businesses and lends up to $1 million to businesses at any stage. Able offers better rates to entrepreneurs who raise funds from Backers – or family, friends and “fans” who fund as much as 10 percent of most Able loans. The company claims that its borrowers save $31,000 on loans between $25,000 and $1 million.

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