Fundation is a direct online business lender that is backed by large investment groups such as Garrison, LeoGroup and Solel. It has been in business since 2011 and provides low interest loans with terms of up to 4 years. Fundation uses innovative risk assessment methods and has a higher risk tolerance than traditional lenders, which allows it to be more flexible when assessing applicants' eligibility.

How Does Fundation Work?

Fundation requires applicants to fill in a simple online application that generally takes 10 minutes to complete. Although its risk assessment process is more exhaustive than most lenders, its use of technology makes it a simple procedure for borrowers. Applicants receive a call from a lending officer after 24 hours of submitting the application with either a final approval or request for additional information. If approved, funds are deposited within three business days.

What Are The Interest Rates?

Interest rates start at 7.99% APR, but vary depending on the company's creditworthiness, revenue and assets. Fundation does not specify a specific range but 15% APR seems to be an average rate.

How Much Money Can I Borrow from Fundation?

Fundation's loan amounts range from $5,000 to $500,000. If you apply for $150,000 or less, simply use the online application on the website. Loans of $25,000 or more require collateral. If you need more than $150,000 call Fundation and one of their customer care officers will walk you through the application. The maximum loan term is 10 years, which allows you to pay as little as $1,110 per month for every $100,000 you borrow.

Which States Does Fundation Operate In?

Fundation is available in all 50 states.

What Is the Application Process Like?

Fundation has a streamlined application process that can be completed in 10 minutes or less. Apart from the basic personal and financial information, Fundation requires borrowers to provide two years of business tax returns and three months of bank statements, but these documents can be a retrieved directly from the IRS and the businesses' bank accounts. If applicants provide sufficient data, Fundation will offer a preliminary decision instantly and even provide them with real-time loan pricing once the form is completed.

How Is Fundation Better than Other Lenders?

Fundation offers larger loans with longer terms than most business loan providers. Its interest rates are competitive and it has much more flexible eligibility requirements than traditional loan providers, such as banks and credit unions. Although exhaustive, the application process is simple, easy to navigate and can be performed in just a few minutes, if access to bank accounts and past IRS returns is granted. If enough information is provided, Fundation can offer applicants an instant approval response and loan pricing. There are no prepayment fees, so borrowers can save money by paying their loans early.

  • Credit Score Range
    640 - 850
  • Minimum Revenue
  • Minimum Years in Business
  • No Prepayment Fee
  • Origination Fee
    Starting at 2%
  • Business Loan Type
    • Unsecured Term Loan
    • Secured Term Loan
  • Intended Use of Funds
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Approval Speed (Hours)
  • Loan Amount
    $20000 - $500000
  • Loan Term Range (Months)
    Up to 48
  • APR
    7.99% - 29.99%
  • Max Loan Term (Months)
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