Fundera Business Loans Review

ByTop10 StaffJul. 01, 2020

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In a Nutshell

Founded in 2013 in New York as an alternative to traditional bank loans that are often expensive and out of reach to small or newly founded businesses, Fundera has worked hard to build a solid reputation of trust, professionalism, and competitive rates. With a wide range of loan types, and flexible repayment options. Fundera gears itself towards small business loans and provides loans of anywhere from as little as $5,000 up to $1 million.


  • Syncs with popular booking software like Xeno and QuickBooks
  • Keeps information private, even from lenders
  • Highly acclaimed with approval from the NY Times, Fortune & more


  • Can have additional fees depending on lender
  • More selective about lenders, so fewer options to choose from

Fundera at a Glance

Loan typesHuge array of options
Loan amount$5K-$1M
Repayment terms1 month - 25 years
Min APR7.90%
Best forSmall businesses, startups

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Best For?

Fundera is the self-proclaimed advocate for small businesses that need cash advances during times of financial turbulence. This company is also known for helping startups by funding them through the initial stages of opening a business. It does this by offering loans that are favorable to small and startup businesses like equipment purchasing loans, merchant cash advances, 401K rollover loans, and smaller sum loans that are easier for small businesses to pay off.

Of course, Fundera also has business lines of credit and factoring loans that are useful for businesses of any size.

Loan Features

Fundera is not an actual lender, that’s the first thing borrowers should be aware of. Instead, this is a lending middleman that matches up borrowers to the appropriate lenders with an online algorithm. Fundera is also known to be selective about which lenders it partners with. So, while some portals have over 100 lenders to work with, Fundera offers only a handful or two of the best. It has a quality over quantity policy.

The various partners make a wide range of business loans available to borrowers including merchant cash advances, lines of credit, equipment financing, and short term loans. The Fundera service itself is totally free. However, the various lenders will charge their own fees depending on their own terms. Some fees to look out for are early repayment penalties and factor fees.

  • Long-term repayment plans
  • Low interest rates
  • Privacy guaranteed
  • Up to $1 million in loans all the time

The Application Process

Fundera is a lending portal, and the application process is similar to other lending portals out there. The entire process is done online and within minutes, making it a convenient and fast way to reach several lenders at once. Applicants can apply via their website by following these steps:

  1. Fill in some basic information about your business. This includes average sale/order size, annual revenue, current debts withstanding, and average balance in your bank.
  2. If you have an account with QuickBooks or Xero, you can sync the software so your books are automatically scanned for the relevant information. This is a major time saver and a real benefit with Fundera.
  3. When you click complete, you’ll automatically receive potential lenders and offers to choose from. Fundera states that it will pair you with at least six relevant lenders based on your credentials and needs.
  4. Select the loan that is most agreeable to you, and you and the lender will speak directly to finalize terms.

The entire process can take anywhere from 2 days to 2 weeks depending on your readiness and the lender in question.

One of the greatest features that Fundera offers borrowers is the eligibility tracker. Once you put in your information, Fundera will tell you whether or not you are eligible for the type or amount of loan you are interested in. if you are not eligible (maybe your credit score is too low or you don’t have enough profit margin to show), the tracker will keep tabs on your accounts for you. Then, it will notify you when you do become eligible for the loan you requested, allowing you to re-apply with success.

How Much Can You Borrow?

The amount that you are eligible to borrow as well as the length of time you can spread your repayment plan out, depends on what type of loan and your business’ credit history. For example, if you want to take out a line of credit, you can borrow anywhere from $10,000 to $1 million, and you’ll have anywhere from 12 months up to 60 months to repay the loan. Merchant cash advances, on the other hand, can borrow as little as $2,500 and can be paid back daily.

The loan requirements also vary based on lender, but general requirements include:

  • Minimum credit score of only 680
  • Tax returns
  • Balance sheets
  • Bank statements

Repayment Terms

The APR and length of the repayment terms will be determined by several factors including:

  • Amount being borrowed
  • Current state of your business’ finances
  • Which lender you choose
  • What type of loan you request

Fundera does have a convenient calculator to help borrowers figure out how much they will end up paying at the end of the day.

How Safe Is It?

As mentioned previously, Fundera is not the actual lender, so legalities have little to do with this company. That being said, Fundera does a lot (more than other lending portals, in fact) to create and maintain a safe and reliable network for borrowers to work within. It has several features to help protect borrowers from being taken advantage of including:

  • Information privacy

Unlike most lending portals that give out your information to all of the lenders instantly when you apply, Fundera only passes on your information to the lenders you approve. This is major in the lending world because it means you aren’t going to be bombarded with a deluge of unwanted calls and messages.

  • Borrower’s bill of rights

This is an in-depth document clearly stating what is and isn’t within your rights. Fundera has made it a point of delineating the rights of the borrower so you are protected from fraud.

  • Trust symbols

Fundera supports its customers with the utmost security systems available including Norton Secured. It also has 5 stars from TrustPilot and an A+ rating from the Better Business Bureau. 

Help & Support

Customer support reviews have been resoundingly positive. Customers can work directly with a dedicated team of staff members anxious to help. Even when complaints were lodged, the customer service staff responded quickly and did everything possible to help clarify and alleviate the issue.

In addition to phone and email support, Fundera offers a rich resource center and FAQ section.

Phone: 1-800-386-3372



Fundera is a relative newcomer to the industry, which might give some borrowers misgivings. Those fears are unfounded though when it comes to this company, as Fundera has proven itself to be trustworthy, efficient, and cost-effective for its customers. With reliable lending practices, fair terms, sensitive privacy policies, and online efficiency, Fundera earns top marks for business loan providers.

Physical Address

123 William St Fl 21

New York, NY 10038-3835

Fundera Fundera Visit Site