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 812
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  • 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!


  • author
    Nov 05, 2020
    Excellent communication and excellent…

    Excellent communication and excellent to work with the entire team


  • author
    Lanny R Morrow
    Nov 03, 2020
    GHOSTED...wasted weeks for nothing.

    Their representative told us that we were approved, and would call back in 48 hours after getting paperwork through SBA underwriting. Then...nothing, zero, didnt return emails or calls EVER. They also dont have a working 2020. Dont just listen to my opinion, ask me for documented proof.


  • author
    Kyber Digital - Jay Miller
    Oct 29, 2020
    Nice people, easy to talk to

    Fundera basically brokered the deal between me and Reliant funding. They made the process very very easy.


  • author
    Oct 23, 2020
    Sarah Hoskin did a fantastic job!

    We had a wonderful experience working with Fundera and Sarah Hoskins. To match our company's growth, we needed funding that would support the increased inventory demand. Sarah found us the right lenders. She is highly competent, professional, and friendly. As a first time working on significant funding, Sarah found answers to all the questions we brought to her. Everything happened promptly. She always followed up and sent timely reminders about any deadlines. It was a pleasure, and we look forward to working with Sarah and Fundera in the future.