In-Depth Analysis

Fundation Review 2024

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Written By
I. Mitic
August 11, 2023
Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

Fundation is an online lender that offers excellent financing solutions for well-established businesses. Although it might be difficult to meet Fundation’s lending requirements, clients are generally happy with the company’s services. The latest Fundation reviews recommend this lender for its fast, knowledgeable, and patient relationship managers, as well as for its low APR.

Loan amounts
$20,000 to $500,000

APR range 7.99% to 29.99%

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Fortunly Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

$20,000 to $500,000
7.99% to 29.99%
Origination fee 5%; 2% draw fee
1 year
$100,000 per year
1-4 years
1-3 days
The US (Nevada excluded)
pros thumb up Strengths
  • Good for established businesses
  • Fixed rates
  • Simple application process
  • Helpful assigned representatives
  • No collateral required
  • APR can be as low as 7.99%
pros thumb up Weaknesses
  • Not good for startups
  • Qualifying terms are hard to fulfill

Fundation Overview

Founded in 2011, Fundation is a popular online lender that offers installment loans and lines of credit for small and medium-sized businesses based in the US.  

Fundation provides fast and high-quality services for businesses that have been in operation for at least one year, have at least $100,000 in annual revenue, and are owned by individuals with a minimum credit score of 660. Fundation’s services are designed for well-established businesses as an alternative to traditional bank loans. 

Although the minimum requirements that a business needs to fulfill seem reasonable, Fundation Group LLC might reject the application if its representative finds major problems during evaluation. Indeed, the evaluation process is fairly stringent; you’ll have to provide plenty of documentation and attend at least one interview with the representative before Fundation makes a final decision. 

If you need money quickly and your business doesn’t meet Fundation’s requirements, you might be better off considering another online lender.

How Does Fundation Compare to Other Lenders?

Fundation Logo
APR Range

7.99% to 29.99%

Min. Credit Score


Lendio Logo
APR Range

4.00% - 30.00%

Min. Credit Score


BlueVine Logo
APR Range


Min. Credit Score

15% – 88%

Types of Financing Available With Fundation

Fundation offers financing support for many types of businesses, including healthcare, restaurants, hotels, auto repair services, and many others.

Fundation company financing comes in two forms: installment loans and lines of credit. If you’re a small-business owner who wants to borrow money from Fundation, here are the terms you’ll need to fulfill before applying for a loan:

  • Your business needs to be in operation for at least one year.
  • Your business needs to generate a minimum of $100,000 per year in revenue.
  • You must have a credit score of at least 660.
  • Your business needs to have at least three employees (this might include the business owner and two more employees).

Fundation is very strict when it comes to evaluating your business’s performance. Unlike some other online lenders, Fundation checks your credit score thoroughly. If you want to obtain Fundation credit, you’ll need a credit score of at least 660. Besides this, Fundation takes yearly revenue and years in business into account during its evaluation.

If your business meets the lender’s requirements, you can expect that your application will be approved. Depending on your business’s strength, the amount of money you can borrow and the repayment term can vary. Fundation financing reviews like ours should lay out all the terms as clearly as possible, so here they are:

  • For a credit score of 660, one year in business, and $100,000 in annual revenue, you can get $20,000-100,000 in funding. The repayment period ranges from one to three years.
  • For a 680 credit score, two years in business, and annual revenue of $200,000, you qualify for $100,001-$200,000 in funding. The repayment period is two years.
  • For a 720 credit score, five years in business, and $500,000 in annual revenue, you can expect to be approved for a loan worth more than $200,000. The repayment period is up to two years.

Installment Loan

An installment loan is the most common type of financing for small businesses. It is mostly used to cover payroll or operating expenses, but it can also be used for inventory and equipment financing. Additionally, some businesses use it to refinance debts or make investments.

According to Fundation loan reviews, installment loans come with fixed rates that are paid automatically using ACH (the Automated Clearing House network). Payments are deducted from your business’s bank account twice a month.

The amount you can borrow ranges from $20,000 to $500,000. Fundation offers medium- and long-term loans, meaning that the minimum repayment period is from one to four years. The term depends on your business’s performance. No collateral is required, but you must sign a guarantee and a blanket lien.

Line of Credit

Businesses that struggle with cash-flow problems can benefit from Fundation’s lines of credit. Besides helping borrowers solve financial problems, lines of credit can also support a company’s growth.

The amount you can borrow ranges from $20,000 to $150,000 with a repayment period of 18 months. The amount you can use depends on your business’s performance. It’s worth noting that every time you withdraw funds against a line of credit, Fundation charges a fee of 2%. There’s also a closing fee of $500.

Fundation Application Process

The application process for Fundation loans starts at the lender’s website. To begin, you’ll need to fill in all the relevant information about your business and submit it to Fundation’s customer service team.

The questionnaire is straightforward and it takes only a few minutes to fill out. It includes basic information like your name, business name, email address, and phone number. You can also contact a lender representative via phone and give that information to him or her directly.

Fundation’s detailed application-review process usually takes a few days to complete. Fundation provides relatively fast financing services compared to traditional banks, but there are much faster online lenders on the market.

Still, it’s worth remembering that the slightly longer Fundation application process might actually be beneficial for your business. If you have a good credit score, you have no open bankruptcies, and your business fulfills all the requirements, you can expect a great loan offer with fair terms and rates.

As part of the underwriting process, you’ll need to speak with a Fundation representative. This is obligatory for business owners who apply for loans of more than $100,000. The Fundation representative will ask you a range of questions about your business and how you intend to use the borrowed funds.

The representative will assess your responses together with the data collected about your business to calculate what loan – if any – the lender can offer you.

What Information Do I Need to Apply?

Although the application process is fairly long by online lender standards, it’s not difficult. The Fundation group requires the following information about your business:

  • Owner’s credit score
  • Annual revenue
  • Years in business
  • Number of employees
  • Type of business

After you submit this information, the Fundation representative will send you a preliminary quote. Note that if you have a low credit score, there is only a small chance that you’ll qualify for a loan. However, Fundation has polite agents who will check your credit history again and give you advice on how you can improve your score.

For small business loans higher than $100,000, you’ll need to talk with your Fundation relationship manager and provide the following documentation:

  • Your tax ID
  • Bank statements from the past three months
  • Two years of business tax returns

Your relationship manager will also help you understand how repayment works, how your rate is calculated, and how long the repayment period will be.

In-Depth Presentation of Fundation Features

Fundation is a proven online lender that provides medium- and long-term loans for small businesses. The company is well known for its high standards, which is why we recommend this lender only to established businesses. Fundation offers medium- and long-term installment loans as well as lines of credit, which range in size from $20,000 to $500,000.

The lender sets rigorous criteria for borrowers. For Fundation business loans higher than $100,000, the lender will ask for additional documentation before approving a loan. The amount you can borrow, as well as the loan term, depend on how successful your business is.

Businesses that have been in business for a long time, that generate regular income, and whose owners have good credit scores might expect higher loans with a repayment term of up to four years.

Fundation’s application process isn’t necessarily complicated, but it does involve a lot of documentation and interviews with the relationship manager the company assigns to your account. For established businesses, this is not a problem. If your credit score is fine and you have a stable business, there’s a good chance you’ll get a Fundation loan. Moreover, your APR might be as low as 7.99%.

Fundation’s clients are generally satisfied with the company’s services. Indeed, during our research we couldn’t find any outright negative Fundation reviews. The only downside is a perceived lack of transparency on Fundation’s part. This means you’ll need to contact the lender directly to see what type of loan you can get, rather than getting an estimate using a loan calculator.

Fundation makes up for this partly with its excellent customer support. The agents we contacted while writing this review provided detailed answers to our questions in a polite, timely manner. Fundation assigns each borrower a relationship manager to guide them through the funding process. Your relationship manager will help you prepare documents and will explain all about how you can best repay your loan.

Loan Amount and APR Details

Fundation loans are divided into two categories: installment loans and lines of credit.

Fundation installment loans are popular among established businesses because they can qualify for high-value loans much more quickly and easily than they would at traditional banks. Here are some features you need to know about the lender’s installment loans:

  • Borrowing amount ranges from $20,000 to $500,000
  • Origination fee is up to 5%
  • APR ranges from 7.99% to 29.99%
  • No collateral is required, but you must sign a blanket lien and a personal guarantee
  • Loan term of 1-4 years
  • Fundation loan installments are automatically deducted from your bank account every two weeks
  • No penalty for early payments

A line of credit is the second type of financing available at Fundation. This type of loan works particularly well for businesses that need up to $150,000 in cash that they can use as they wish. The most important Fundation line of credit features are as follows:

  • Borrowing amount ranges from $20,000 to $150,000
  • Withdrawal fee is 2% per transaction
  • Closing fee is $500
  • APR ranges from 7.99% to 29.99%
  • No collateral, but there is a blanket lien and a personal guarantee
  • Loan term is 18 months
  • Monthly payments

Eligible and Non-Eligible Businesses

Fundation lends money to small businesses whose owners have excellent credit scores. Indeed, if you want to borrow money from Fundation for your business, you must have a credit score of at least 660. Additionally, your business must be in operation for at least one year and generate an average annual gross revenue of $100,000.

For businesses that are looking for loans of more than $100,000, the Fundation team will require further details, like the business tax ID and bank statements for the past three months. You can authorize the representative to collect these documents instead of you.

However, even if your credit score is sub-par or you don’t meet some of the other conditions required to get a loan, we still suggest you contact the company. Fundation customer support officers are really helpful and may help you qualify for a loan. Even if you have a bad credit score, the representative will allow you to explain why that’s the case and then decide whether or not you are a good candidate.

Fundation services are open to most types of small businesses, but there are some industries the company especially favors:

  • IT
  • Lawyers
  • Engineers
  • Manufacturing
  • Healthcare
  • Child care
  • Pet care
  • Hotels and motels
  • Restaurants/bars
  • Funeral homes
  • Auto repair services
  • Liquor stores
  • Gas stations

Your business must have at least three employees to be eligible for a Fundation loan.

Fundation financing services are available only to businesses in the US, excluding Nevada. Like other lenders, Fundation doesn’t provide funding to businesses in certain industries: gambling, marijuana, non-profits, government institutions, insurance, mortgage providers, lending firms, and religious organizations.

Fundation Repayment Terms

If you’re borrowing money for the first time, you’ll probably have a lot of questions. Before applying for a loan, you should know how much money you actually need, what type of loan is appropriate for your business, and how APR is calculated. And before agreeing to a loan, you should fully understand the repayment terms you’re signing up for.

At Fundation, a company representative will explain the conditions of a Fundation term loan to you in full before you sign anything to ensure that there are no nasty surprises in store.

This lender doesn’t offer short-term loans. The minimum periods for repayment are one year for installment loans and 18 months for lines of credit. The repayment period is calculated using a range of factors, including the borrowed amount, credit history, and time in business.

The interest rate for installment loans is fixed and includes origination fees of up to 5%. The lender will charge you a fixed amount twice a month via deduction from your business bank account. For lines of credit, there’s a Fundation fee of 2% each time you withdraw money. The closing fee is $500.

The lender will allow you to refinance your debt after nine months if you make payments regularly.

The Bottom Line

We recommend Fundation for well-established small and medium-size businesses with a minimum annual gross of $100,000, assuming their owners have maintained a credit score of at least 660. The qualification terms Fundation sets might seem too rigorous for many small businesses owners, but remember that that can be a good thing.

After all, you don’t want to be accepted for a high-interest loan that you might struggle to pay back.

Although the requirements can be difficult to meet, we still advise company owners to try Fundation’s financing services. After all, this is one of the most reliable online lenders, and the company has years of experience in financing all sorts of businesses – from healthcare and child care to restaurants, bars, and hotels.

The common theme across all Fundation reviews – including ours – is that you won’t find any serious complaints about this lender.


How can I contact Fundation customer service?


Fundation agents are available via phone and email. You can also reach them on Facebook, LinkedIn, and Twitter. On the Fundation website, you can fill out a form with your personal data and your question(s), then send it to the lender. Use this email address - [email protected] - or call (888) 390-0064 to get in touch with a Fundation representative.

Is Fundation legit?


Absolutely. As you can see from a huge number of Fundation LLC reviews online, this lender has a strong reputation for providing excellent financing options to US businesses. Clients are satisfied with Fundation’s products and in particular they praise its fast, detail-oriented, and reliable customer care representatives.

Can you get a loan at Fundation with a credit score less than 660?


No, you can’t. However, it’s still worth contacting Fundation, as a company representative will happily give you advice on how to improve your credit score. As shown by myriad Fundation reviews, this lender can be a good solution for businesses that have years of experience and high credit scores.