The Fundera marketplace helps individuals find lenders offering SBA loans, term loans, invoice financing, equipment financing, business lines of credit, and merchant cash advances. The specific terms and conditions of financing depend on the lender. For the best terms, however, you’ll typically need a 680+ credit score and a business with several years’ success and consistent revenues. This is fairly standard in the market.
Fundera Business Loans Review
Fundera is a marketplace for those looking for business loans. They help people secure funding for anything from equipment financing to short-term business loans. The platform makes it easy to shop around and compare different financial solutions to find the one they need to grow.
Fundera Business Loans Highlights
$250,000 - $50,000,000
LOAN REPAYMENT TERM
TIME IN BUSINESS
MIN CREDIT SCORE
SOFT CREDIT PULL
Pros & Cons
- Multiple financing options designed to help businesses grow and succeed
- Convenient shop and comparison tool
- Free service
- Matched with experienced Funding Advisor who helps every step of the way
- Loan terms and conditions not disclosed until after completing an application
- Once deciding upon a product, you’ll work with the lender instead of Fundera
- Must have been in business for at least 1 to 4 years to qualify for funding
- Potentially high interest rates and eligibility requirements
Business Loans Type
- SBA Loans
- Business Line of Credit
- Invoice Financing
- Equipment Financing
- Term loans
- Short-Term Business Loan
- Merchant Cash Advances
- Startup Loans
Fundera Business Loans Terms & Requirements
How to Apply
Fundera has one simple application, regardless of the loan type you need. To get started with the application process, go to Fundera’s main page and click on “See Your Loan Options.” You’ll be redirected to a page where you can input some details, such as:
- Loan amount needed
- Date you started your business
- Monthly revenue the business brings in
- Personal credit score
- Reason for the loan
- Business name and zip code
- Your name and contact information (ex. phone and email)
Some loan products also require more information, such as a valid driver’s license or another government-issued photo ID. You may also need to provide banking information, business tax returns, and related account numbers so Fundera can verify your application.
Once you’ve completed your application, Fundera will contact you and ask if they can perform a soft credit check. This does not affect your credit score. A loan specialist will also reach out to help you understand your financing options and determine the best loan for your business.
If you decide upon a specific loan offer, you’ll need to go to that lender’s website and complete their application. This may require you to provide additional information.
To get started with Fundera’s prequalification process, click either “Get Started” or “See Your Loan Options” on their home page. From there, provide additional information such as:
- Your name and contact details
- Information about your business (ex. name, age, revenue)
- Desired loan amount and purpose
- Approximate credit score
Required documents: Proof of identity (ex. passport or driver’s license), business transactions, bank statements, federal tax returns
Application Steps & Time Frames
Fundera’s application process is straightforward and takes about 5 minutes to complete. It involves providing basic personal and business information.
After completing the application, a loan specialist will contact you and help you compare your options.
The time to funding depends on the loan product, but can be in as little as 24 hours, which is pretty fast in the market.
Available in all states
Privacy & Security
As is standard in the industry, Fundera collects information from website users and existing customers. This includes identifying information like names, email addresses, phone numbers, and Social Security Numbers. It also includes employment and income information.
Fundera’s very clear about how they collect and use this information. In particular, they use the data to operate and improve their site and services, as well as for administrative purposes. They do share user data with others, such as third-party service providers.
In terms of security, Fundera uses standard safeguards to keep users’ information private and secure on the internet. This includes SSL encryption to protect the data. Despite these measures, they do not guarantee that all information is completely secure.
Fundera does not have a dedicated customer support page, but they do provide an email at the bottom of each web page. They also have a phone number you can call if you need help. For the most part, the company is very responsive and will get back to you within 1 to 2 business days. However, once you connect with a lender, most communication goes through them.
The company also has a comprehensive FAQ section that goes into detail about the different loan products, as well as how to best navigate their site.
On the Better Business Bureau, Fundera has an A+ rating and is accredited. On Trustpilot, they have 4.6 out of 5 stars with over 800 reviews. Most customer reviews reflect quick response times, knowledgeable representatives, and successful funding.
Fundera has a straightforward application process and a hands-on approach to helping businesses secure the funding they need. The matching process is free and connects individuals with dozens of options.
Fundera also offers many free resources to help potential customer learn more about the various loan services and products that might help them expand their business. Overall, the marketplace is very informative with solid customer service.
Like many marketplaces, Fundera doesn’t clearly indicate the exact terms of the financial products at first. This mainly appears to be due to the fact that they vary depending on the loan and the individual’s credit and financial information.
LIMITATION OF LIABILITY AND WARRANTY DISCLAIMER. 10.1 Limitation of Liability. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL FUNDERA (OR OUR SUPPLIERS) BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY LOST PROFITS, LOST DATA, COSTS OF PROCUREMENT OF SUBSTITUTE PRODUCTS, OR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES ARISING FROM OR RELATING TO THESE TERMS OR YOUR USE OF, OR INABILITY TO USE, THE SITES OR SERVICE, EVEN IF FUNDERA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. ACCESS TO, AND USE OF, THE SITES OR SERVICE IS AT YOUR OWN DISCRETION AND RISK, AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR DEVICE OR COMPUTER SYSTEM, OR LOSS OF DATA RESULTING THEREFROM. TO THE MAXIMUM EXTENT PERMITTED BY LAW, NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, OUR LIABILITY TO YOU FOR ANY DAMAGES ARISING FROM OR RELATED TO THE SERVICE OR THESE TERMS OF SERVICE (FOR ANY CAUSE WHATSOEVER, INCLUDING, BUT NOT LIMITED TO, DAMAGES ARISING FROM YOUR FAILURE TO PROVIDE FUNDERA WITH ACCURATE INFORMATION OR TO CORRECT INACCURATE VERIFIED DATA, OR A THIRD PARTY’S FAILURE TO CORRECTLY VERIFY SUCH INFORMATION, AND REGARDLESS OF THE FORM OF THE ACTION), WILL AT ALL TIMES BE LIMITED TO A MAXIMUM OF ONE HUNDRED US DOLLARS (U.S. $100). THE EXISTENCE OF MORE THAN ONE CLAIM WILL NOT ENLARGE THIS LIMIT. YOU AGREE THAT OUR SUPPLIERS WILL HAVE NO LIABILITY OF ANY KIND ARISING FROM OR RELATING TO THESE TERMS OF SERVICE. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. 10.2 No Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THESE TERMS OF SERVICE, THE SITES AND THE SERVICE PROVIDED HEREUNDER BY FUNDERA IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND FUNDERA (AND OUR SUPPLIERS) EXPRESSLY DISCLAIM ANY AND ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING ALL WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, ACCURACY OR NON-INFRINGEMENT. WE (AND OUR SUPPLIERS) MAKE NO WARRANTY THAT THE SITES AND THE SERVICE WILL MEET YOUR REQUIREMENTS, WILL BE AVAILABLE ON AN UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE BASIS, OR WILL BE ACCURATE, RELIABLE, AND/OR FREE OF VIRUSES OR OTHER HARMFUL CODE, COMPLETE, LEGAL, OR SAFE. IF APPLICABLE LAW REQUIRES ANY WARRANTIES WITH RESPECT TO THE SITE AND THE SERVICE, ALL SUCH WARRANTIES ARE LIMITED IN DURATION TO NINETY (90) DAYS FROM THE DATE OF FIRST USE. NO ADVICE OR INFORMATION PROVIDED BY FUNDERA SHALL CONSTITUTE ANY WARRANTY WITH RESPECT TO YOUR USE OF THE SERVICE. FUNDERA DOES NOT GUARANTEE OR ASSUME ANY RESPONSIBILITY FOR ANY SERVICE ADVERTISED OR OFFERED BY ANY THIRD-PARTY SERVICE RELATING TO EITHER FUNDERA OR ANY FUNDING PROVIDER. FUNDERA MAKES NO GUARANTEE AS TO THE NUMBER OF FUNDING PROVIDERS WITH WHOM YOU MAY BE MATCHED USING THE SERVICE, NOR DOES FUNDERA GUARANTEE THAT YOU WILL BE ABLE TO OBTAIN BUSINESS FUNDING IN ANY AMOUNT USING THE SERVICE, INCLUDING FROM ANY FUNDING PROVIDER FOR WHOM YOUR VERIFIED INFORMATION PROVISIONALLY PREQUALIFIES YOU FOR SUCH FUNDING. YOU UNDERSTAND AND AGREE THAT FUNDERA IS NEITHER A FUNDING PROVIDER NOR A FINANCIAL ADVISOR, AND NOTHING ON THE SITES IS INTENDED TO BE A SUBSTITUTE FOR PROFESSIONAL FINANCIAL ADVICE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU. SOME JURISDICTIONS DO NOT ALLOW LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU. 10.3 Not a financial planner, investment adviser or tax advisor. NEITHER FUNDERA NOR THE SERVICES ARE INTENDED TO PROVIDE LEGAL, TAX, INVESTMENT OR FINANCIAL ADVICE. FUNDERA IS NOT A FINANCIAL OR TAX PLANNER, AND DOES NOT OFFER LEGAL ADVICE TO ANY USER OF THE SERVICE. ALTHOUGH THE SERVICE MAY PROVIDE DATA, INFORMATION, OR CONTENT RELATING TO INFORMATIONAL SERVICES FOR U.S. BASED SMALL BUSINESS OWNERS INCLUDING INFORMATION AND REFERRALS FOR CERTAIN FINANCIAL SERVICES, YOU SHOULD NOT CONSTRUE ANY SUCH CONTENT AS TAX, LEGAL, FINANCIAL, OR INVESTMENT ADVICE.