Fundera Business Loans Review

ByCaroline BentonJan. 07, 2021

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In a Nutshell

Fundera was founded in New York in 2014 as an alternative to traditional bank loans. Conventional financing is often expensive and out of reach for small or newly established businesses.


  • Syncs with popular booking software like Xero and QuickBooks
  • Eligibility tracker


  • There may be additional fees depending on the lender
  • There are fewer lenders to select from compared to competitors

Fundera Fundera Visit Site

Fundera at a Glance

Since its inception in 2014, the company has built a solid reputation based on trust, professionalism, and competitive rates. Fundera targets small businesses and offers several different options for financing. Fundera matches business owners with lenders who provide loans up to $5 million, depending on the borrowers’ needs and financial standing. Can this rookie company compete with the seasoned veterans of the industry? So far, the answer seems to be yes.

Suitable for?

Fundera is the self-proclaimed advocate for small businesses that need cash advances during times of financial turbulence or significant growth. Combining access to financing with their robust guides and informational resources, Fundera positions small businesses for growth. The platform is known for helping startups by funding their initial stages. Fundera does this by offering favorable loans to small businesses and startups. This early-stage financing includes equipment purchasing loans, merchant cash advances, and smaller loans that are easier for small businesses to pay off. Fundera also provides business lines of credit and factoring loans for businesses of any size.

Loan Features

Fundera is not a direct lender. Instead, it is an online marketplace that matches borrowers with appropriate lenders using an algorithm. Fundera is selective when it comes to lending partners. While some portals have over 100 lenders for borrowers to choose from, Fundera has a policy of quality over quantity.

The various partners ensure a wide range of business loans for borrowers, including term loans, SBA loans, 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 watch out for are early repayment penalties and factor fees.

  • Long-term repayment plans
  • Low interest rates
  • Privacy guaranteed
  • Up to $5 million in loans all the time

The Application Process

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

  1. Go to
  2. Provide some basic information about your business, such as average sale/order size, annual revenue, current debts withstanding, and average bank balance.
  3. Click “complete,” and you’ll automatically connect with potential lenders.
  4. Select the most agreeable loan, and you and the lender will finalize terms directly by phone.

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

Fundera’s eligibility tracker is a key feature. Once you have submitted your information, Fundera will tell you the type or amount of loan that your business qualifies for. If you do not qualify (perhaps your credit score is too low, or you don’t have sufficient time in business or revenue), the tracker will keep tabs on your accounts. When you do become eligible for the loan you requested, the tracker will alert you, allowing you to re-apply, this time with success.

How Much Can You Borrow?

The amount that you are eligible to borrow and the term of your repayment plan depends on the type of loan and your business’ credit history. For example, for a line of credit, you can borrow anywhere from $10,000 to $1 million, and you’ll have anywhere from three months to two years to repay the loan. For a merchant cash advance, on the other hand, you can borrow as little as $500, and the advance is paid back daily through automatic deductions from your merchant account.

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

  • A minimum credit score of 600
  • Tax returns
  • Balance sheets
  • Bank statements
  • Repayment Terms

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

  • The amount borrowed
  • The current state of your business’ finances
  • The lender you choose
  • The type of loan you request

Fundera has various loan calculators to help borrowers determine how much they will pay over the life of the loan.

How Safe Is It?

Fundera is not a direct lender, so the company is not liable for transactions. However, Fundera strives to create and maintain a safe and reliable network for borrowers. For example, the platform has several features to help protect borrowers.

  • Information privacy

Some lending portals give out your information to all of the lenders instantly when you apply. Fundera, on the other hand, only passes on your information to the lenders you approve. This saves applicants from a deluge of unwanted calls and messages.

  • Borrower’s bill of rights

This borrower’s bill of rights clearly states what is and isn’t within your rights. Fundera delineates the rights of the borrower to protect the borrower from fraud.

  • Trust symbols

Fundera supports its customers with the utmost security systems available, including Norton Secured. It also has a five-star rating from TrustPilot and an A+ rating from the Better Business Bureau.

Help and Support

Customer support reviews are resoundingly positive. Customers can work directly with a dedicated team of loan specialists. The customer service team responds quickly to complaints and does everything possible to clarify and alleviate the issue.

Fundera offers phone and email support, and the website has a rich resources center and an FAQ section.

Fundera Fundera Visit Site


Fundera is a relative newcomer to the industry, which might put off some borrowers. However, any fears are unfounded because Fundera has proven itself to be trustworthy, efficient, and cost-effective. With responsible lending practices, fair terms, sensitive privacy policies, and online efficiency, Fundera earns top marks as a business loan provider portal.

Physical Address

123 William St Fl 21

New York, NY 10038-3835

Fundera customer testimonials

ExcellentReviews 816
TrustPilot is the world’s most powerful review platform, free and open to all.
  • author
    Apr 02, 2021
    Fundera is my "CFO department" to help get deals done

    I've had several experiences with Fundera, and it just gets better every time. They have always been extremely patient and thoughtful in their approach to handling my file. I have come to think of Fundera as an extension of my own company -- they often school me on which financing makes the most sense for the current stage of my businesses. This time around, they helped me secure an SBA 7a deal that helped us eliminate short term debt and open up a huge amount of monthly cashflow to streamline our operations. I want to give a special shout-out to Sarah & Kevin. Kevin, thank you for insisting I move forward with 7a. And Sarah, thank you for your diligence and perseverance. Working on an SBA deal can be daunting, but we were funded within 3 weeks from start-to-finish. In today's fast-paced business world, 3 weeks does *feel* like a lifetime but it was worth every minute. With Sarah's help, we were able to tackle every little documentation requirement that came up along the way. Thank you again!!


  • author
    Jamal kassar
    Mar 18, 2021
    this company got my 1st PPP loan info…

    this company got my 1st PPP loan info (SSN, Tax ID, etc) and was to help retrieve my SBA loan number. they never did supply me with the SBA loan number and decided to have reapply at another company called blue vine that would not accept mu bank account number


  • author
    Mar 05, 2021
    Highly unprofessional

    Highly unprofessional - after finding out my SBA loan wouldn't go through. They handed over all my personal information to their "partners" now i'm getting spam emails and calls that I didn't agree or sign up for. I've tried to email and call the rep back that I spoke with - Kailey Nuccio but now she won't return my calls or email about why she sold or gave my information to other companies. Please show me where I agreed to let you sell or give my information to your partner network? DO NOT DO BUSINESS WITH THIS COMPANY!!


  • author
    Jaimeluis Organic
    Feb 15, 2021
    I need some help with the application…

    I need some help with the application for a SBA 7(a) loan, I have tried to reach you by email but always a machine answered, I have all the paperwork ready to apply, please help


  • author
    Julie Chase
    Nov 29, 2020
    Fundera helped us grow our company

    We worked with Sarah to secure a loan for our company. She was a true partner and helped to find the perfect lender. We were able to get a loan with a week. We can now use the funds to grow our business. Sarah was professional, friendly, helpful and incredibly responsive. We're grateful to her and Fundera for their assistance!