Fora Financial Review
Visit site

Fora Financial Reviews

Lauren Le-Hair


Lauren Le-Hair

Businesses with poor to fair credit
Businesses with poor to fair credit
About Fora Financial

Fora Financial was founded in 2008 to address a gap in the market for small business funding. Fora Financial offers two types of funding, small business loans and merchant cash advances. The New York-based company has loaned over $2 billion to more than 25,000 businesses since 2008 and continues to grow from strength to strength.

Loans are available to companies in many industries, including construction, restaurants, retail, manufacturing, and transportation. The company has an A+ Better Business Bureau rating and generally positive feedback online. Fora Financial is known for its flexibility, willingness to loan money to businesses with poor credit scores, and generous discounts available for early repayment of loans.









Fora Financial Business Loans Review

Fora Financial offer customers two types of business loans. Small Business Loans operate in a conventional manner where you will receive funds in advance and make ongoing cash repayments against the loan. Merchant Cash Advances offer a cash loan upfront in return for an agreed percentage of all credit card sales until the loan plus interest is repaid. Fora Financial loans are short-term, with the longest term available being 15 months.

Fora Financial loans take up to 24 hours to approve and 72 hours to fund. This timeframe is significantly quicker than bank finance, but many other companies offer same-day funding. Fora Financial also considers more than just your credit score when you apply. Full details of Fora Financial loans are shown below.

Fora Financial Business Loans Highlights


$5,000 - $1,400,000


Up to 15 months


72 hours


6 months















Pros & Cons

  • Successful applications receive funding in less than 72 hours
  • Discounts available for early repayment of loans
  • Low credit threshold for loan eligibility
  • Good customer service and A+ BBB rating
  • Uses factor rating instead of APR, which makes comparing with other loan offers difficult
  • Origination fee charged
  • Only short-term loans are available
  • The minimum sales requirement of $15,000 per month will be difficult for some businesses

Business Loans Type

  • Short-Term Business Loan
  • Merchant Cash Advances

Fora Financial Business Loans Terms & Requirements

Fora Financial offers two types of loans; Small Business Loans and Merchant Cash Advances. While a business loan from Fora Financial has less strict requirements than many business loan providers, there are still some criteria that you’ll need to meet to be eligible for consideration.

Small Business Loan

Fora Financial provides small business loans of between $5,000 and $1,400,000. There are no restrictions on use, and the maximum loan term is 15 months. A huge perk of a small business loan from Fora Financial is that if you repay the term early, you receive a discount. This bonus is very uncommon for a small business loan. You do not need to provide collateral to be eligible for a small business loan. Requirements for a Fora Financial Small Business Loan are:

  • At least 6 months of operating
  • No open or dismissed bankruptcies within the past 12 months
  • At least $15,000 in gross sales per month

Merchant Cash Advance

If your business makes a lot of trade via credit card and you have an unpredictable cash flow, then a merchant cash advance could be a good option. Merchant Cash Advances are available from $5,000 to $1,400,000, with approval based on factors other than just credit rating. If your application is successful, you will receive a lump sum. Loan repayments are made to Fora Financial based on a percentage of all credit card transactions. As with small business loans, early repayments attract a discount. Requirements for a Merchant Cash Advance are:

  • At least 6 months of operating
  • No open or dismissed bankruptcies within the past 12 months
  • At least $5,000 of credit card sales each month

Fora Financial uses factor rates instead of APR when calculating the total amount repayable. A factor rate is shown as a decimal instead of a percentage, with factor rates usually between 1.1 and 1.8. To determine how much you have to repay, multiply the borrowed amount by the factor rate. This differs from APR as APR is always shown as an annualized amount.

Fora Financial does not disclose factor rates until after the completion of prequalification. Having been through the prequalification process, we have seen that factor rates offered by Fora Financial are between 1.1 and 1.4, which is average for Merchant Cash Advances. Merchant Cash Advances are usually one of the more expensive forms of business loans, so ensure that you have checked rates available via Fora Financial small business loans as well.

How to Apply

We found the application process to be straightforward via Fora Financial’s excellent website. We selected “Get a Free Quote” from the homepage, with the whole process taking just a few minutes.

We initially had to enter basic details, including name, address, business name, email address, phone number, and annual sales levels.

After completing these details, we finished the initial process. We received a notification saying that a capital specialist would contact us within 24 hours.

Well within the 24-hour waiting period, we received a call back from Fora Financial. The company’s capital specialist talked us through the process and wanted to learn more about our business and our needs. During this process, Fora Financial requested multiple documents to be sent over, including bank statements, credit card statements, and a completed application form.

This information was processed quickly, and once we had sent these over, our application was submitted for a hard credit pull. We were then made aware that our application was successful in less than 24 hours.

Thanks to the knowledgeable and helpful credit specialist who walked us through the process, the application process was easy.

Required Information

To apply for funding from Fora Financial, you will need to provide the following documentation:

  • Proof of your ID (passport, driver’s license)
  • Proof of business ownership
  • Submitted tax returns
  • Three most recent bank statements
  • Three most recent credit card statements (for Merchant Cash Advance applications)
  • Up-to-date balance sheet
  • Up-to-date profit and loss account
  • Completed application form

Application Steps & Time Frames

The online part of the application process was quick, taking us less than five minutes. Within 24 hours, we had a call back that lasted 30 minutes. After we’d submitted all relevant documentation, we had a decision on our application within 24 hours. The loan funding was provided within 72 hours after this. The process was stress-free and took less than a week from start to finish.

State Availability

Available in all states

Privacy & Security

Fora Financial has an average TrustPilot score of 4.5 out of 5. 83% of customers rated the service as “Excellent”, and 11% rated it as “Great.” The company takes the time to respond to the few negative reviews with thoughtful and thorough answers.

The company also has an A+ rating with the Better Business Bureau (BBB). Fora Financial’s privacy policy states that the business loans company may share your contact information for third-party advertising. Still, you can opt out by emailing the support team at

Customer Support

Fora Financial boasts a responsive customer service team attentive to its customers’ needs. The company’s customer support is supported by tons of positive online reviews. You can contact its customer service staff via phone, email, or by filling out an online form. Fora Financial also provides Spanish-speaking customer service alongside native English support.

We phoned its sales inquiries line to ask about factor rates for merchant cash advances. The customer care agent was helpful and explained how all deals are bespoke, but they couldn’t give an accurate factor rate without knowing more about our business. The agent then set up a call later in the day to speak with an expert to help us. Full contact details for Fora Financial are shown below.

Phone Support
(877) 419-3568

In Conclusion

Fora Financial is a long-established, trustworthy company that can provide you with short-term loan funding if you meet its criteria. The company’s factor rates are not cheap, but if you have a large level of credit card sales and are looking for a loan of 15 months or less, we recommend you give Fora Financial a try.


What is a merchant cash advance?
A merchant cash advance is a type of funding used for small businesses. The business receives a loan and pays back the loan via repayment of an agreed percentage of all credit card sales until the loan plus interest is repaid.
How much money can I borrow?
Fora Financial offers loans between $5,000 and $1,400,000.
Are Fora Financial a direct lender or a marketplace?
Fora Financial is a direct lender, and any agreement will be through Fora Financial or one of its subsidiaries.

Fora Financial Disclaimer

Fora Financial provides business capital, including business loans and Revenue Based Financing, directly and through a network of unaffiliated third-party funding providers. Business loans are offered by Fora Financial Business Loans LLC or, in California, by Fora Financial West LLC, a licensed California Finance Lender, License No. 603J080. Fora Financial Advance LLC offers Revenue Based Financing. Business capital is also made available through US Business Funding, a sister company of Fora Financial. The products and amounts offered vary by state.


This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.


Lauren Le-Hair

As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.