SuperMoney
  Fundation Business Lines of Credit

Fundation Business Lines of Credit

in Business Lines of Credit from Fundation Group LLC

Unaffiliated

Fundation Business Lines of Credit

Unaffiliated

in Business Lines of Credit from Fundation Group LLC

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend Fundation Business Lines of Credit to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
APR  (Fixed APR) 7.99% - 29.99%
Credit Score Range 700 - 850
Loan Amount Up to $150,000

Fundation Business Lines of Credit Review

Fundation Business Lines of Credit is offered by Fundation Group LLC, a direct lender founded in 2013 and based in Reston, VA. Fundation Business Lines of Credit is available in 50 states (and Washington, DC).

Fundation Business Lines of Credit FAQ

What APRs does Fundation Business Lines of Credit offer?

Fundation Business Lines of Credit offers a fixed APR product that ranges from 7.99% APR up to 29.99% APR.

Does Fundation Business Lines of Credit charge an origination fee?

Yes, Fundation Business Lines of Credit charges an origination fee of up to 5% of the line of credit amount.

What limitations does Fundation Business Lines of Credit set on the purpose of the line of credit?

Fundation Business Lines of Credit considers line of credit applications for business purposes, such as:

  • Equipment Purchase
  • Inventory
  • Lease Improvement
  • New Location
  • Payroll
  • Product or Service Expansion
  • Working capital

Does Fundation Business Lines of Credit charge prepayment fees?

No, Fundation Business Lines of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit balance off early.

What is the maximum term you can get with Fundation Business Lines of Credit?

Fundation Business Lines of Credit offers business lines of credit with terms ranging from 12 to 48 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.

What do you need to qualify for Fundation Business Lines of Credit?

Applicants with a credit score of at least 700 and up to 850 may be eligible for Fundation Business Lines of Credit.

Fundation Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Fundation Business Lines of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Fundation Business Lines of Credit. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Proof of identity

What are the business financing requirements for Fundation Business Lines of Credit?

To apply for Fundation Business Lines of Credit, the applicant needs to provide the following documentation:

  • Business license
  • Business bank account

Does Fundation Business Lines of Credit report your account activity to credit bureaus?

Yes, Fundation Business Lines of Credit reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Fundation Business Lines of Credit

Receive your funds up front while providing an attractive monthly payment option for your clients. Reduce the risk of losing a sales opportunity by allowing your customers to pay for their invoice, quote or purchase order over time. Increase your cash conversion through reducing your Accounts Receivable balances (free up working capital). Reduce - or eliminate - the administrative burden of collections.

Contact

Other Services by Fundation Group LLC

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Origination Fee (%) Up to 5%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 700 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $100,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
APR (Fixed APR) 7.99% - 29.99%
Loan Amount Up to $150,000
Loan Term 12 - 48 months

Be the first to rate

 

Would you recommend Fundation Business Lines of Credit to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)