In the wake of the Financial Crisis, big banks were forced to tighten their lending standards, leaving many small business owners out in the dark. A 2014 Harvard study found that bank lending to small businesses plummeted during the Financial Crisis and failed to recover in the years that followed.

Luckily, fintech names have stepped in to fill the void.

There are a number of online lenders out there other than traditional banks, but OnDeck Capital Inc (NYSE: ONDK), LendingClub Corp (NYSE: LC) and Credibly all offer unique products and services that specifically cater to small businesses.

OnDeck Capital

Lending Club

In addition to small business loans, Lending Club is now providing small business credit lines of up to $300,000 that are free to open and charge no monthly fees.

Related Link: WSJ Graphic Highlights 3 Eras Of The Modern Megabank

Credibly

Small business owners that have been in business for at least six months and generate at least $10,000 in monthly revenue pre-qualify for a Credibly loan of up to $250,000.

Terms of these loans vary from six months to 24 months depending on the size of your small business. One of the best parts about Credibly is their fees--or lack thereof. As long as you're on time with payments (or choose their automatic deduction option), the only fee you'll pay is the origination fee. 

Takeaway

Just when it looked like the small business lending environment couldn't get any darker, the dawn of the fintech revolution has made access to business capital easier than ever. On Deck, Lending Club and Credibly are only three of the countless fintech funding options out there for today’s small business owner.

Disclosure: the author holds no position in the stocks mentioned.