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  Fundivo

Fundivo

in Business Loans from Fundivo

Unaffiliated

Fundivo

Unaffiliated

in Business Loans from Fundivo

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Highlights
Highlights
Community Rating

Rating not yet determined

In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote
Loan Amount $5,000 - $2,000,000
APR  (Fixed APR) 6% - 25%
Loan Term 12 - 120 months

Fundivo Review

Where does Fundivo do business?

Fundivo is a business financing offering by Fundivo, based in New York City, NY. Founded in 2013, Fundivo offers access to business loans in 50 states (and Washington, DC).

What are Fundivo’s rates?

Fundivo offers a fixed APR business financing product that ranges from 6% APR up to 25% APR.

Does Fundivo charge an origination fee?

Yes, Fundivo charges a loan origination fee starting at 1% of the loan amount. Fundivo deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Fundivo set on the purpose of the loan?

Fundivo considers loan applications for business purposes, such as:

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

What types of business loans does Fundivo offer?

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

  • Unsecured term loans
  • Secured Term Loans
  • Lines of Credit

Does Fundivo charge prepayment fees?

Yes, Fundivo charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from Fundivo?

Loan amounts start at $5,000 and go up to $2,000,000.

What is the maximum loan term you can get with Fundivo?

Fundivo offers business loans with terms ranging from 12 to 120 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 Fundivo?

Fundivo requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $25,000 to be considered.

Applicants with a credit score of at least 560 and up to 850 are eligible for Fundivo.

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. Active duty service members and their covered dependents are eligible to apply for a loan via Fundivo. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

What is the estimated funding time for a business loan via Fundivo?

Fundivo can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.

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About Fundivo

Availability

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

Origination Fee Starting at 1%
Credit Score Range 560 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $25,000
Loan Amount $5K - $2M
APR (Fixed APR) 6% - 25%
Loan Term 12 - 120 months

Fundivo Community Reviews

 

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