Fundera Reviews: Edition 2020

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Being a small business in its early stages can be rough. Some cannot survive without an incentive that can push them forward and gear them for success.

Unfortunately, traditional loans don’t always work. For those cases, we might have a solution — our research, based on many Fundera reviews, indicates that this lending service caters to smaller businesses and their financial needs.

Fundera offers:

  • A way to match small business owners with a variety of unique lenders.
  • Only reputable partner lenders.
  • Different loan options.
  • No hidden fees.
  • Help to businesses with a minimum credit score of 550 higher.
  • Loan amounts of $1 million or higher.

If these initial terms have piqued your interest, you might want to find out more about Fundera.

So let’s see exactly what Fundera Loans is all about.

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Editorial Rating


  • No hidden fees: Fundera doesn’t have any hidden fees nor any extra fees for that matter.
  • A single application for multiple lenders: By making one application, you are able to reach many lenders at the same time and receive offers from them.
  • Transparent policy: Fundera offers explanations about every service they offer and is honest to their users making it easy to apply for unsecured loans for bad credit.
  • Variety of resources: Smaller businesses have multiple options, as they are able to apply for different types of loans and borrow money.
  • Flexible requirements: Since there are many lenders that offer different terms and requirements, there is a greater chance to get a loan for businesses with a steady stream of income.


  • Not all businesses are able to qualify.
  • Not available in all states: Unfortunately, due to the lenders, the service is not available in all 50 states.
  • Higher interest rates: In some cases, depending on the lender the interest rate is higher than with traditional banks.
  • A limited number of lenders: Fundera only works with certain lenders to maintain quality of service.

Fundera Recap

Loan Amounts

$2,500 - $5 million

Loan Term

3 months - 25 years

APR Range

3% - 30%

Min. Credit Score



0% - 6.99% origination

Funding Time

1 day - 2 weeks

Years in Business

3 months - 3 years

BBB Rating


Min. Revenue

$0 - $250,000


All 50 states

What is Fundera?

Fundera loans is a business funding matchmaker established in 2013. Their aim is to help finance small types of businesses in need of quick loans.

Every year, about half of the established small businesses need extra funds. In most cases, they turn to traditional lenders for funding. Only 30% of those, however, actually receive any money. A lot of the rest eventually need to close down prematurely.

Fundera loans were created to offer an alternative lending option for smaller businesses. These types of marketplace platforms do not originate loans. Instead, they work as an online matchmaker and present an opportunity for businesses in need of funding. Fundera collaborates with a group of non-traditional lenders who do not have as stringent loan requirements as banks do, resulting in more opportunities for smaller businesses to get funded.

That said, unlike other platforms that work with more than 100 lending partners, Fundera is more careful — they work with a more limited selection of lenders, providing higher-quality loan opportunities.

Fundera does not charge any fees to borrowers. It just helps them find an opportunity to borrow money online. Once a match is made, and a deal between the borrower and the lender is struck, Fundera will receive a fee from the lender based on the loan agreement.

Fundera further offers relief financing options. Merchant cash advances, lines of credit, short-term or medium-term loans, equipment loans, and many more. This also implies that different sums can be loaned depending on the reason you need them for. As long as the business is able to meet a minimum score of 550, they are able to qualify for a maximum loan amount that can even exceed $1 million, depending on the reason they require it and the loan option they choose.

Who is Fundera Best for?


Fundera, unlike 5K Funds and Monevo, specifically offers small business owners a way to get funds in their time of need. New businesses and startups can have a particularly hard time in their early stages of development. They may need funds to get their venture off the ground, or run into a turbulent period where emergency funding is needed.

Banks and traditional lending options usually come with all sorts of requirements that these businesses can’t meet. More so, they may be presented with a set of options that are really not favorable.

So the question stands – How to get a business loan?


Fundera has the answer. By offering a hand-picked network of lenders, they are able to provide these businesses with a lifeline.

But Fundera does not stop there — they also offer different types of funding, including:

  • SBA Loans: These can be taken out for various purposes – working capital, SBA disaster loans, refinancing debt, etc. They range between $5,000 and $5 million. The loan amount term for repayment can go from 5 to 25 years.
  • Business Term Loans: These are traditional types of loans where you get a lump sum of money that you need to pay back over the given period. Term loans go between $25,000 and $500,000, with repayment terms of between one and five years.
  • Business Lines of Credit: You are given access to a pool of money from which you can withdraw at any time but have to repay at a certain point. The sum typically goes between $10,000 and $1 million. Lines of credit, however, usually come with higher fees as opposed to other forms of financing.
  • Invoice Financing: If you invoice your clients, you can get funded based on your unpaid invoices from up to 100% of each invoice’s face value. The borrowed amount will be paid back when the client pays the invoice.
  • Startup Business Loan: It is really hard to get a loan for a startup in a conventional way due to the lack of business history. These loans are available at $150,000 and allow putting up business equipment as collateral.
  • Equipment Financing: Businesses can now get the equipment they need to operate. They borrow the money needed for the purchase and repay it afterward.
  • Short-Term Loans: If you are in need of quick money loans as urgently as possible and you feel confident that you can repay the amount in 18 months, short-term loans can work. The loans range from $2,500 to $250,000 but due to their short-term nature come with higher interest.
  • Merchant Cash Advances: If your business uses credit cards for payment, you can receive a cash advance for future credit card processing. You will receive a lump sum for your needs and will repay it through future daily card or debit card receipts. The sum can go from $2,500 to $250,000.
  • Personal Loans for Business: These loans are perfect for newer businesses that don’t have a long business history. They come with lower fees than conventional loan requests but don’t come with a broad loan range.

Fundera Review

(Image Source: Fundera)

Getting Started with Fundera?

In order to help you understand how the application process works, we have gone through various Fundera reviews and also tried out the site ourselves. Fundera works like any other lending portal out there. The main difference is that they offer their services to businesses and not individuals.

So, how does Fundera work?

Start your application by creating an account on the Fundera site. You would need to fill in an initial questionnaire, providing some basic information about your business, including how old it is, your personal credit score, annual revenue, the type of industry your business is in, and whether it is profitable or not.

Fundera Review

(Image Source: Fundera)

Fundera will then process the information and determine the loans and products you may be eligible for. You will then be shown a list of possible lenders and get multiple loan offers. You will also be contacted by a Fundera personal loans representative who will discuss your loan options with you.


Fundera Review
(Image Source: Fundera)

After you carefully view loan offers provided from the best available lenders, you can pick one and fill out a free application. You should be aware that the initial process will not have any potential impact to credit score. Additionally, the representative that contacts you will help you understand everything about the lending process and will tell you how to get the most from your money. After choosing one of the large authorized lenders based on their offer, everything else will be conducted between you and the lender.

Fundera Review

(Image Source: Fundera)

Fundera does not provide personal loans to borrowers, instead, it offers a market place of lenders that enable businesses to borrow money online instantly.

You will then agree on all the terms with the lenders themselves. You will have to provide some additional information which will vary depending on the lenders you decide to go with. Some of the extra data that you will need to provide include bank and credit card statements, tax returns, profit and loss statements, balance sheets, verification from your landlord if you are renting office space, etc.

Fundera Review

(Image Source: Fundera)

After everything is approved with the lender you will be funded in no time and have ready access to working capital that you will receive in your business checking account.

Terms & Requirements

As far as the Fundera requirements go, the main one is that you have to have a legitimate business. Individuals are not able to apply for a loan at Fundera as this platform doesn’t offer any type of personal loans.

In terms of qualifications to apply, there is no exact set of rules. That said, you would need to provide the following information in the questionnaire:

  • How long have you been in business
  • The amount of income your business makes
  • Your personal credit score
  • Is your business profitable enough
  • The type of industry your business is in

If you qualify for a loan lenders will ask for additional information about your company. These business loan requirements will vary depending on the lender you decide to go with.

In addition to one of the best comparison tool options, Fundera also offers a unique feature that not a lot of other platforms have. An eligibility tracker will determine in advance whether you will qualify for the type and the amount of loan you are planning on applying for. This will be determined before you get the list from the extensive network of lenders from Fundera. If it just so happens that your business is not eligible for a loan that you desire, Fundera will keep tabs on the upcoming offers and will inform you promptly so you can apply.

However, don’t think that this part doesn’t require a credit check. A soft check will be made initially, followed by a hard pull. A minimum credit score of 550 is necessary to qualify for any loan, but it still depends on the individual lender.

You should also be aware that Fundera is only available to borrowers in the United States. Also, not all lenders are capable of providing a loan in all 50 states.

User Reviews

We have looked through many Fundera reviews to see how happy the customers were. The general consensus is that the customers are really happy with what Fundera has to offer. Their A+ rating given by the BBB is more than deserved and justified.

However, there have been certain complaints mostly by users who failed to get loan approval after being accepted by Fundera. Some had issues with getting higher rates, which are also determined by the lenders, rather than the website. Others pointed to the somewhat limited selection of lenders.

But overall, Fundera still remains a reliable platform.


Rates & Fees

The site charges no fees for its services. Applying and getting matched with a lender will not cost you anything. Fundera acts as a mediator and charges borrowers no fees.

The way Fundera makes its money is through those matches. Every time a borrower is matched with a lender and a deal goes through, the platform will receive from 2% to 5% as a flat fee on the amount funded, depending on the loan.

Lenders meanwhile have the right to impose any fee they wish and will state them in the loan terms before you accept. So some lenders will charge an origination fee while some require a professional service fee. The charges will vary as each lender will offer a different deal.

The duration of the installment loans also varies from one lender to another. Fundera does not state an estimated annual percentage rate of the loan nor the exact period of when one has to return it. It acts as a peer-to-peer lending platform that functions only as an intermediary between the two sides. So, the terms, rates, and collection practices, even the possibility of late payment fees, will have to be discussed with the lender.

Privacy & Security

Safety is one of the major components of our lending platform review. So, is Fundera safe? They take security very seriously and maintain a complete transparency policy. Everything about how fees and information are collected as well as everything you need for signing up is clearly displayed. This is something that Fundera competitors do not always divulge.


Fundera will only pass information for approved loans to lenders that you have accepted. So you don’t have to worry about being bombarded by other outside offers.

On the site, you may also read the borrower’s bill of rights which clearly explains how things go.

Finally, you can rest assured that you are safe from any unwanted financial implications as Fundera is Norton secured, has 5 stars from TrustPilot, and an A+ rating given by the Better Business Bureau, making your information as safe as it gets.

Customer Support

Fundera’s customer service is available through phone, email, and best of all — through direct chat online. Whether you want to ask them about consolidating a debt with a business loan, learn about the loan renewal policies, or how to cut your monthly payments, the Fundera team is available to you at all times.

The very helpful FAQ section may also provide you with a quick way to get the details you need. You may also take advantage of the resource center where you can find a loan calculator, financial templates, glossaries, and a host of other information that may even help you in learning ways to improve your credit score.


Contact details:

Phone: 1-800-386-3372


Final Verdict

Fundera is arguably the best way to borrow money for a small business. It is not only efficient, it is safe.

That said, feel free to go through more Fundera reviews to make sure it is the best solution for you and your business.

For more reviews on lenders be sure to check out SpendMeNot!

Fundera Logo

Editorial Rating


Is Fundera legitimate?

Fundera is considered one of the top loan connection companies for an online personal loan. Fundera is accredited by the BBB and has an A+ rating. TrustPilot gives it 5 stars and it also prides itself for being Norton Secured. You can rest assured that any kind of a loan, be it paycheck protection program loans or anything else, Fundera is a safe place to do it in.

Is Fundera an SBA lender?

Yes, Fundera is able to provide Small Business Administration (SBA) loans. The minimum loan amount can be $5,000 while the maximum goes to $5 million. The time to repay it meanwhile is between 5 and 25 years.

Is it difficult to get a loan from Fundera?

The platform prides itself on being easy to use and to provide quick and favorable loans to smaller businesses that need it. Fundera reviews suggest that many users like the way the platform works and praise its usability for making convenient loan requests.