StreetShares is a popular online lending platform that specializes in providing loans and lines of credit to small businesses in the United States. It offers a unique approach by leveraging the concept of peer-to-peer lending, allowing individual investors to fund loans directly to small businesses. While StreetShares has gained popularity among entrepreneurs and investors, it's always beneficial to explore alternative platforms and competitors to find the best fit for your specific financing needs. In this article, we will delve into the ten best StreetShares alternatives and competitors in 2024.

1. Funding Circle

Funding Circle is a leading global peer-to-peer lending platform that connects small businesses with investors. It provides access to business loans with competitive interest rates and flexible terms. Funding Circle stands out for its advanced underwriting technology, which allows for quick loan approval and funding. With a presence in multiple countries, including the United Kingdom, Germany, and the United States, Funding Circle offers a robust alternative to StreetShares for entrepreneurs seeking peer-to-peer lending options.

2. Kabbage

Kabbage is an online lending platform that focuses on providing small businesses with quick and convenient access to lines of credit. It offers a streamlined application process and uses innovative algorithms to assess creditworthiness based on real-time business data. Kabbage's strength lies in its ability to provide instant funding decisions and flexible repayment options. If you're looking for a fast and efficient alternative to StreetShares for accessing lines of credit, Kabbage is worth considering.

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3. OnDeck

OnDeck is a prominent online lender that specializes in short-term loans and lines of credit for small businesses. It offers a straightforward application process and provides funding decisions within minutes. OnDeck stands out for its lenient credit requirements, making it a viable option for businesses with less-than-perfect credit scores. With competitive interest rates and a range of financing options, OnDeck is a strong competitor to StreetShares in the online lending space.

4. BlueVine

BlueVine is an online lender that focuses on providing invoice factoring and business lines of credit to small businesses. It offers a simple and transparent application process, allowing businesses to access funds quickly. BlueVine's invoice factoring service enables businesses to unlock cash tied up in unpaid invoices, providing a unique financing solution. With flexible credit lines and competitive rates, BlueVine provides a compelling alternative to StreetShares for businesses in need of working capital.

5. LendingClub

LendingClub is one of the largest peer-to-peer lending platforms in the United States. While it primarily focuses on personal loans, LendingClub also offers business loans to small businesses. It provides access to competitive interest rates and allows investors to fund loans directly. LendingClub's extensive network of investors and its robust underwriting process make it a reliable alternative to StreetShares for businesses seeking peer-to-peer lending options.

6. PayPal Working Capital

PayPal Working Capital is a financing solution offered by PayPal, the popular online payment platform. It provides eligible businesses with access to working capital loans based on their PayPal sales history. With a straightforward application process and automatic repayments through future PayPal sales, PayPal Working Capital offers convenience and flexibility. If you're an existing PayPal user looking for a hassle-free financing option, PayPal Working Capital is a suitable alternative to StreetShares.

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7. Accion

Accion is a nonprofit microfinance organization that provides small business loans and financial support to entrepreneurs. It focuses on serving underserved communities and offers flexible loan options tailored to the needs of small businesses. Accion's mission-driven approach and commitment to social impact make it an attractive alternative to StreetShares for socially conscious entrepreneurs seeking affordable financing options.

8. Square Capital

Square Capital is a financing solution offered by Square, the popular payment processing company. It provides eligible businesses with access to loans based on their Square sales history. Square Capital stands out for its seamless integration with Square's payment ecosystem, making loan repayment effortless through automatic deductions from daily sales. If you're a small business using Square's payment processing services, Square Capital can be a convenient alternative to StreetShares for accessing quick funding.

9. Lendio

Lendio is an online marketplace that connects small businesses with a network of lenders to find the best financing options. It offers a simplified application process and matches businesses with lenders based on their specific needs and qualifications. Lendio's wide range of financing options, including term loans, lines of credit, and SBA loans, make it a versatile alternative to StreetShares. By leveraging Lendio's platform, businesses can access multiple loan offers and choose the most suitable one.

10. Credibly

Credibly is an online lender that provides small business loans and lines of credit. It offers flexible financing solutions tailored to the unique needs of businesses. Credibly's technology-driven approach allows for quick loan decisions and funding. With transparent terms and competitive rates, Credibly presents itself as a strong competitor to StreetShares in the online lending space.

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In conclusion, while StreetShares has gained popularity as a peer-to-peer lending platform for small businesses, there are several alternatives and competitors available in 2024 that offer similar or additional financing options. Whether you prioritize peer-to-peer lending, quick access to lines of credit, invoice factoring, or a wide range of loan choices, these ten alternatives to StreetShares provide options for entrepreneurs with diverse financing requirements. Consider exploring Funding Circle, Kabbage, OnDeck, BlueVine, LendingClub, PayPal Working Capital, Accion, Square Capital, Lendio, or Credibly to find the best fit for your small business financing needs.