Alternative financier LendingTree launched an online marketplace for small business loans Wednesday.

Small-business lending is seen as a promising area for alternative finance as it evolves beyond peer-to-peer lending. LendingTree already facilitated small-business loans through its online marketplace that funds consumer and other loans; its web portal opened Wednesday exclusively shops small-business loans to individual and institutional investors.

The new marketplace will feature loans from $5,000 to $1 million for businesses deemed creditworthy; approvals could come within 48 hours.

"Real-time online financing is the wave of the future — and it will now be available to LendingTree's business client base," Walt Levengood, the chief strategy officer of Merchant Cash and Capital, a lender in LendingTree's network, said in a press release. "This technology will allow LendingTree to facilitate significant funding opportunities without the arduous process and delays associated with traditional business loans."