Fundation

Fundation Review

Fundation is a business financing offering by Fundation Group LLC, based in Reston, VA. Founded in 2013, Fundation Group LLC offers access to small business loans in 50 states (and Washington, DC).

Fundation FAQ

What are Fundation’s rates?

Fundation offers a fixed APR business financing product that ranges from 7.99% APR up to 29.99% APR.

Does Fundation charge an origination fee?

Yes, Fundation charges a loan origination fee of up to 5% of the business loan amount.

What limitations does Fundation set on the purpose of the business loan?

Fundation considers business loan applications for business purposes, such as:

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

What types of small business loans does Fundation offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Fundation provides access to the following business loan types:

• Unsecured Term Business Loans
• Lines of Credit

Does Fundation charge prepayment fees?

No, Fundation does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

How much can you borrow from Fundation?

Business loan amounts start at $20,000 and go up to $500,000.

What is the maximum business loan term you can get with Fundation?

Fundation offers small business loans with terms ranging from 12 to 48 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Fundation?

Fundation requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $100,000 to be considered.

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 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 and permanent resident / green card holders are eligible to apply for the services offered by Fundation.

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

• Proof of income
• Proof of identity