Fundera Review - Business Loan

Application & Approval Process
Rates & Fees
Payment Terms
Loan Type Options
Customer Support & Benefits

About Fundera

Over $1 billion has been secured to small businesses by Fundera’s loan matching marketplace. Founded in 2013 in New York, Fundera business loans provide an excellent place for small businesses to view their financing options before agreeing on a contract. Simply answer some basic questions about your business, and a Fundera Lending Specialist will get in touch to help you find a business loan to suit your company’s needs. Fundera is very selective about its funding partners, so if you are looking for a loan matchmaking service that only shows the highest quality providers, Fundera is a great place to start.





  • Eligibility tracker
  • Quick online application process (15 mins)
  • Can borrow up to $5 million
  • Keeps applicant’s details private and secure


  • Not a direct lender
  • Can be subjected to additional fees from the lender

Key Highlights

  • Minimum credit score of only 550 is required, ideal for those with poor credit ratings.
  • Secured more than $1 billion in funds to 35,000+ small businesses.
  • Selective funding partners meaning there are fewer options to choose from, but applicants can be assured that they will only have high-quality providers available to them, including the likes of Kabbage, BlueVine, and Fundbox.
  • Syncs with widely used booking software such as Xero and QuickBooks.
  • Despite not being a direct lender but a marketplace, Fundera has lots of security and safety measures in place, including Norton Secured, not sharing applicants’ private details to third parties whom they are not interested in lending from (no unwanted calls or messages), and Borrowers’ Bill of Rights.

Application & Approval Process

Fundera provides an excellent, straightforward application process that walks you through the steps to receive your non-obligatory quotation from its network of loan providers.

Before you begin, it’s worth noting that there are no formal criteria to meet in order to apply; however, your chances of being approved will be significantly higher if you meet the following:

  • Time in business of at least one year
  • A credit score of 500+
  • No active bankruptcies
  • Annual revenue of $100,000+

You will also need to have the following documents prepared and ready to submit to your potential lenders upon successful pre-approval:

  • Driver’s License
  • Proof of ownership
  • Voided Business Check
  • Bank Statements
  • Balance Sheet
  • Profit & Loss Statements
  • Credit Score
  • Business Tax Returns
  • Personal Tax Returns

If you meet the criteria above and are ready to start the application, visit Fundera’s website and click on “Start Your Application.” This will take you through a basic questionnaire that asks for details surrounding your business and the owners. 

The process should take no longer than 15 minutes as long as you have the documents prepared, and there is no charge to receive your quotations.

You will be required to give information such as; the age of your business, business type, industry, business address, wages and taxes, desired loan amount, number of employees, and your social security number. Fundera will then use this data to determine which products you are eligible to receive.

Once you have completed this stage of the application, you will be presented with a list of available loan options from Fundera’s network of financing providers. Usually, a representative from Fundera will get in contact to assist you by running through the best options available based upon your company’s requirements and the information you presented throughout the application.

When you have determined which product to move forward with, you must then apply directly on the loan providers’ website where they will run a hard credit check. Here, you will likely get asked to provide more documentation and proof of ID.

Once you have selected the loan and have been approved by the provider, the funds will be dispensed into your business account. The time frame for this varies from lender to lender. Some deposits are as quick as the next working day, while others may take a couple of weeks.

Rates & Fees

All rates and fees vary depending on the loan provider and the type of loan that you apply to. Furthermore, interest rates typically depend upon your business’s financials. The better health your company is in, the lower the rate. However, this is not always the case.

Concerning fees, you don’t need to pay anything directly to Fundera. Instead of charging you, they take a commission from their list of network providers when you successfully sign up for a loan. The fee they take usually ranges between 2% to 5% of your principal loan amount. You will not be charged by Fundera at any point during the process.

However, there may be fees incurred by the lending provider, so be aware of this when you are signing on the dotted line. Origination, application, prepayment, guarantee, and late payment fees are all determined by the lender.

Payment Terms

Payment terms differ considerably between lenders and the type of loan you wish to take out. The payment terms will typically fluctuate based on your business’s growth needs, credit rating, cash flow, and company revenue.

With Fundera’s financing options, you can get business loans ranging from 1 year with daily repayments, up to 5 years with monthly repayments, or anything in between that which best suits your business. 

There are longer and shorter terms available for different loan types.

Loan Options

Fundera offers a wide age of financing options on their online marketplace, working with financing partners such as Chase, American Express, PayPal, Capital One, Kabbage, and more. Here are some of the options available to business owners:

SBA Loans 

The Small Business Administration (SBA) is a government agency tasked with assisting small businesses in finding credit with excellent rates and terms.

Term Loans

A traditional business term loan is a lump sum of capital that you pay back with regular repayments at a fixed interest rate.

Equipment Financing

Equipment Financing helps you finance up to 100% of the new or used equipment you need for your business. 

Invoice Financing

Invoice Financing, often called Accounts Receivable Financing, is a type of asset-based financing solution that allows business owners to free up unpaid invoices. 

Business Line of Credit

A Business Line of Credit gives access to a pool of funds to draw from when you need capital. Unlike a traditional business loan, you have the flexibility to borrow up to a set amount (typically anywhere from $50,000 to $500,000), repaying only the amount you withdraw, with interest.

Short-Term Loans

Short-Term Business Loans are lump-sum loans that are designed to be paid back in less than 18 months. They can be a flexible financial tool, best used for financing short-term needs—including managing cash flow, dealing with unexpected needs for extra cash, bridging larger financing options, paying off expensive debt, or taking advantage of unforeseen business opportunities.

Merchant Cash Advance

A merchant cash advance is not technically a loan. With an MCA, a financing company advances you cash in exchange for a percentage of your daily credit card and debit card sales, plus a fee.

Start-Up Loans

A Start-Up Business Loan is any kind of financing aimed specifically towards startups with little to no business history. There are a variety of new business loans and financing methods available to new business owners: SBA microloans, business credit cards, business grants, friends and family, and crowdfunding.

Business Credit Cards

The concept of a business credit card is simple: It’s a credit card, designed for business owners. Like personal credit cards, credit cards for small businesses allow cardholders to cover expenses, build credit, and earn rewards.

Personal Loans

A Personal Loan for business is exactly what it sounds like—a personal loan that the borrower uses for business purposes. Personal loans for business can be especially useful for newer businesses without an established track record.

Fudera provides extensive information and helpful resources on all of the financing options listed above and even details the recommended minimum requirements for application.

Customer Support & Benefits

Fundera has extensive customer support that frequently receives overwhelmingly positive reviews from customers. You can reach out to the team via phone, email, and live chat on the website. They are available 5 days a week from 8 AM to 8 PM, Monday to Friday. They also have a strong social media presence across several different platforms, you can send a message to them via Facebook messenger for quicker responses to your queries.

Fundera has an excellent FAQ section, which answers a wide variety of questions on topics related to their products. You can find helpful resources on all of the financing options that they offer, as well as their network of funding partners.

Contact Details

Address: 123 William St Fl 21, New York, NY 10038-3835

Phone: (800) 386-3372

Email: [email protected] 

Social Media: Facebook, Twitter, Instagram, and LinkedIn

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