Fundera is not a lender or loan broker. It is a platform that helps small businesses evaluate their financing options by providing financial education and connecting them with compatible lenders. The startup company was launched in 2014 by Jared Hecht, co-founder of GroupMe, a messaging startup that was sold to Skype in 2011.

How Does Fundera Work?

Fundera is a loan comparison website that matches borrowers circumstances and requirements with compatible lenders. Borrowers only need to fill a single application form to get preapproved by lenders on Fundera's network. Fundera then uses that information to provide up to thee matching lenders. Business owners must then go to the website of the lender they choose to finalize the operation.

What Are The Interest Rates?

Interest rates vary widely depending on the lender used, the business' credit worthiness, the loan amount and term. For instance, OnDeck, one of the borrowers on Fundera's network, has interest rates ranging from 8% to 39%, while SmartBiz SBA Loans ranges from 6% to 8%. Generally you can expect to pay 6-10% for SBA-backed business loans; 6-44% for small business loans; and 4-20% for equipment financing loans.

How Much Money Can I Borrow?

Maximum loan amounts also vary widely by lender. Fundera will search for lenders that meet your requirements. For example, Funding Circle has a maximum loan amount of $500,000 and CelticBank offers SBA loans of up to $5 million.

Which States Does Fundera Operate In?

Fundera has lenders who operate in all 50 states.

What Is the Application Process Like?

To apply for a loan, borrowers must complete a short online form with personal, business and financial information. Fundera then verifies the authenticity of the information and matches the borrower with lenders. Each lender has its own eligibility criteria, but in most cases businesses need a monthly revenue of $9,000 to $10,000 and at least 2 years in business to avoid high interest rates and short repayment terms.

How Is Fundera Better than Other Lenders?

By filling a single form, businesses can pre-qualify for a loan with several lenders and get an idea of what interest rates they can expect without any impact on their credit. Fundera is trying to position itself as the Expedia of small business loans. Currently it only refers borrowers to lenders but it has plans to allow borrowers to perform the entire process on its website. One of the biggest advantages of Fundera over other loan referral companies is that your data is not sold to aggressive brokers so you won't get flooded with cold calls.

  • Interest APR
    4% - 44%
  • Loan Amount
    $5000 - $500000
  • Max Loan Term (Months)
  • Target Credit Score
    Fair (640-699) Good (700-749) Excellent (750-850)
  • No Origination Fee
  • No Prepayment Penalty
  • Minutes
  • Same Day
  • 1-7 days
  • 1-2 weeks
  • 2-4 weeks
  • Min Revenue
  • Min Years in Business
  • Origination Fee
    0.99% - %
  • Credit Type Offered
    Unsecured Term Loan Secured Term Loan SBA Loan Line Of Credit Merchant Cash Advance Invoice Financing
  • Intended Use of Funds
    Equipment Purchase Lease Improvements New Location Product or Service Expansion Working Capital
  • Institution Type
  • Approval Speed (Hours)
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0 votes

Simply the best. Ever had an experience when you expect one thing, but you get another entirely?! That's what happened here. I thought trying to get a line of credit for my business would be painful. I found Fundera on Facebook, and thought I'd give it a try, but thought they were a lender. Better yet, they are a marketplace, so I applied to a few different lenders and ended up going with an SBA loan because the rates were better. They were so friendly, so helpful, answered all my ... questions (I had a lot). It's great to see a company living up to their word and really looking out for their customers. These guys are the best. If you are considering financing, call Fundera! More Less

1 votes

Fundera, having your employees post false negative reviews against your competitors is not good (some would say unscrupulous) business practice and hurts your credibility more than anything. Can we agree that Small Businesses deserve more from lenders than this type of behaviour? Thank you

0 votes

I really didn't have a good experience with Fundera when I initially applied for a small business loan with them. I had an issue with the online application, and then wasn't satisfied with the lending options they provided for me. I wouldn't written a horrible review for them, but when I expressed my distress to a representative, I received a call from management. They worked with me to get me lender suggestions that worked better for me. They genuinely care that their customers walk away happy. I'd recommend them just ... for their customer service and problem solving skills. More Less

0 votes

The lending options that Fundera matches you with are great! I've used other companies similar to Fundera in the past, and they aren't nearly as thorough when searching for lenders for you. I needed a small business loan, and since we're a newer business, it has been difficult to get good interest rates. I expressed this to the team at Fundera, and they were able to find direct lenders that offered me lower interest rates. They cared about my needs, and I'd recommend them for any new business owner.

0 votes

Because Fundera doesn't actually provide the loan, you are able to choose the lender that they suggest for you. This is such a great option for people who don't have a bunch of time to shop around for a small business loan. I generally go with companies that match you with lenders, but so far, Fundera has given me the best options. It seems like they really take into consideration what you need and what you are able to pay monthly, instead of just throwing a bunch of lenders at ... you. More Less

0 votes

Not to sound dramatic, but Fundera really saved our business. Our equipment was damaged in a flood, and without it, we were unable to work and generate money for my business. We attempting to take out various loans with traditional banks and other lenders, but because we are a newer business, we were turned down application after application. Fundera was able to match us with lenders willing to give us a loan, even though we were new. We greatly appreciate Fundera's efforts, and will use them again in the future.

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