In-Depth Analysis

Fundera Review

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Written By
G. Dautovic
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.

Don’t have the time to go through thousands of lenders on the web and compare their main features? Fundera does the legwork for you and delivers a hand-picked selection of the best banks for your business.

What types of loans can you expect? What banks are featured? Find out in our Fundera review.

$2,500 - $5 million

APR range 3% - 30%

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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.

$2,500 - $5 million
3% - 30%
0% - 6.99% origination
3 months - 3 years
$0 - $250,000
3 months - 25 years
1 day - 2 weeks
All 50 states
pros thumb up Strengths
  • Easy application process
  • Thoroughly analyzed lenders
  • Lending specialist assistance
  • Transparent fees and terms
  • Eligibility tracker
  • Comprehensive explanations of types of loans
  • Compatibility with QuickBooks and Xero
pros thumb up Weaknesses
  • Some lenders may have additional fees
  • SBA funding can take weeks

Fundera Overview

Fundera is not a lender; it’s an online marketplace that lets you find the perfect lender for your business. You choose the type of loan and the amount you need, then the software matches you up with the right bank. After that, you get in touch with a lending specialist who guides you through your options. It’s fast, effortless, and reliable.

You’ll be the beneficiary of Fundera’s strict criteria and high standards for choosing lenders. While various Fundera competitors rely on endless lists of financial providers, Fundera uses only a handful of the best ones. You don’t need to waste your time on mediocre offers or second-rate lenders with questionable reputations.

In just over six years of existence, Fundera has managed to help more than 35,000 businesses secure more than $1 billion worth of loans. The company’s team consists mainly of young, energetic people who are ready to fully commit themselves to every account. Raving Fundera reviews on reputable websites like TrustPilot can confirm the effectiveness of this approach.

How Does Fundera Compare to Other Lenders?

Fundera Logo
APR Range

3% - 30%

Min. Credit Score


Seek Business Capital Logo
Seek Business Capital
APR Range

3%-25% (0% intro APR)

Min. Credit Score

Varies by lender and loan type

OnDeck Logo
APR Range


Min. Credit Score


OnDeck Financing Options

Fundera covers a wide range of loans. Whether you need a classic SBA loan, essential equipment financing, or a handy merchant cash advance, it’s all there. The site includes helpful descriptions of every type of loan available so you can learn more about each option before going forward. Here is a short breakdown.

SBA Loans

SBA loans are the most popular financing option. They can offer lower rates (starting at around 6%) and more forgiving terms thanks to government-backed guarantees. The top lenders suggested for Fundera SBA loans are Five Star Bank, Celtic Bank, and First Home Bank. All three are included in the list of the top 100 SBA lenders and have impeccable reputations.

To qualify for an SBA loan, you should have a credit score of about 680 and annual revenue of at least $180,000.

  • SBA Microloans

In case the traditional SBA loan is too much for your small business to handle, there is also the option of a microloan. These are great options for companies that are just starting out and need financial aid of less than $50,000. The average minimum credit score for Fundera microloans is 575. Interest rates usually range between 8% and 13%.

Business Lines of Credit

Getting an SBA loan can take weeks. Now imagine going through all of that only to realize that you need another loan sooner than you thought. In fact, you might need financial injections every now and again. In this case, a business line of credit is the way to go. You gain access to a larger pool of funds and withdraw funds as you need them. The biggest benefit is that you pay interest on only the amount you’ve taken.

Some of the best Fundera lenders specialize in line-of-credit financing. For example, according to Fundera’s website, Kabbage doesn’t have a minimum requirement for a credit score. Your business just needs to be active for a year and generate at least $50,000 in annual revenue.

Term Loans

Term loans are used to finance one-off business investments. You immediately get an entire sum (usually between $25,000 and $500,000), which is repaid at a fixed interest rate. It’s a fast way to deal with pressing issues with clear terms of repayment and no surprises.

If you’re looking for a term loan, Fundera Inc might match you with two of its best lenders in this field – OnDeck Capital and Funding Circle. Both of these options offer great repayment rates with special features. OnDeck Capital offers a pre-payment discount if you decide to settle your debt early, which is often penalized by other banks. Funding Circle is attractive because it doesn’t have minimum revenue requirements.

Term loans are pretty fast – they become available in about two days. The maximum amounts range from $50,000 to $500,000 and interest rates are usually between 7% and 30%.

Small Business Equipment Financing

Fundera equipment financing has a specific purpose – to help you obtain crucial working tools for your business. Although the amounts can vary, this type of loan generally covers the entire cost of the equipment.

The term of the loan is, in most cases, the life expectancy of the acquired rig, which is something of a double-edged sword. While it gives you enough time to pay off the loan comfortably, the equipment itself might become obsolete before it’s paid off.

Dealing with the repayment system is another problem. A lot of lenders demand weekly or even daily payments, which can be quite stressful. This is where Fundera loans come into play. One of the company’s recommendations is Balboa Capital, which offers flexible requirements and monthly or even quarterly payments.

One major benefit of this type of loan is that the equipment functions as collateral. Because of that, you don’t need a high credit score or other guarantees. The more expensive and more valuable the equipment is, the more likely you are to get the loan.

Invoice Financing

If you have outstanding receivables that you can’t collect immediately, invoice financing might be a good solution. Fundera invoice financing gives you a chance to take out a loan for the value of the invoices and repay it when the debts are settled.

Fundera’s website claims that this funding can deliver up to 100% of the invoiced amount, which is quite rare. In most cases, you can expect 80-85%. Keep in mind that if you get matched with a bank that offers to lend you 100% of the value of your receivables, it’s bound to have some other hidden fees that you might not have noticed.

One of the top choices in Fundera’s matchmaking system for this type of loan is BlueVine. According to the Fundera BlueVine review, this lender has a personal credit score requirement of just 530. Of course, the invoiced company’s reputation and reliability also come into play when determining the terms. Interest rates range between 0.25% and 1.7% per week.

Merchant Cash Advance

Another of Fundera’s numerous loan types is the merchant cash advance. While this is more of a financial arrangement than a classic loan, it’s a great option for quick funds with somewhat flexible requirements.

MCAs are the best short-term loans for bad credit because the lender provides the cash directly to the merchant in return for a percentage of debit and credit card sales, plus a small fee. A Fundera review of the company’s lenders suggests that you can expect factor fees ranging from 1.14 to 1.18 and an advance maximum of $250,000.

Fundera Application Process

The application process is pretty easy and straightforward. If you need guidance, you can always turn to Fundera’s helpful customer-support team for step-by-step instructions.

  • Create an account

You create your Fundera account by clicking on the “Start Your Application” button or choosing the amount you want from a popup window as you browse through the loans. Either way, you end up with a blank form that needs to be filled out. You’ll need to provide basic details about your business like contact information, credit score, and revenue.

  • Pick a lender

Once you’ve created your Fundera funding account, you’ll get a list of lenders that match your needs. In addition, you’ll be assigned a lending specialist to help you every step of the way. If you don’t feel comfortable with this intrusion, you can simply do the calculations yourself using the website’s free calculator.

  • Apply to lender

Now comes another application, this time with your lender of choice. In most cases, the lender will give you a list of paperwork you must submit with your application, but you can prepare some of the basics ahead of time. The company will give you an offer based on its requirements and your personal details. Note that Fundera lender fees might be slightly higher than what you were shown at the start. Since Fundera charges its fee directly to the lenders, they might choose to incorporate that fee into your final offer. It doesn’t always happen, but it might explain some unforeseen charges.

What Information Do I Need to Apply?

The documentation you need to apply depends on the type of loan and the lender itself. Some of the basics include:

  • Bank and credit card statements
  • Copies of federal tax returns
  • Copy of a recent financial statement
  • Access to online accounting software
  • Verification of rental space
  • Valid ID

Fundera Features

You’d think that a marketplace like this with a selection of the best online lenders would be a lot more exclusive with its credit score requirements, but that’s not the case. Some of Fundera’s lenders will go as low as 500 for a minimum credit score. Fundera lender reviews show that for some lenders, there is no minimum revenue requirement. In most cases, the required amount is $100,000, but it can also go as high as $250,000.

Fundera’s intermediary services are available only in the USA. The company currently holds a BBB rating of A+, which means it is a reliable company with a proven track record. Although there have been some complaints about a couple of Fundera’s lending partners, the company’s representatives have promptly responded to all potential issues. Fundera’s Glassdoor score is currently 4.3 based on 64 reviews.

Fundera is fully compatible with two of the business world’s most popular accounting tools: QuickBooks and Xero. By combining these tools with your Fundera account, you’ll get a more comprehensive look at your financial state and find only the best lending opportunities.

Loan Amount and APR Details

Depending on what type of Fundera business loans you’re looking for, you can expect a wide range of amounts. These start as low as $2,500 for short-term business loans and go up to $5 million for SBA loans. Loan terms can be anywhere from three months to 25 years. The usual time for a loan to come through should never be more than two weeks. In some cases, funds become available in a single business day.

Working out the Fundera lender APR for each provider can be tricky. It depends on a number of factors, and lenders aren’t always keen on disclosing all of their fees. According to the site’s estimates, APRs typically range from about 3% to 30%. Origination fees are often not included in this estimate; they can go up to 6.99%.

Eligible and Non-eligible Businesses

As Fundera’s partners offer a wide range of loans for different types of businesses, the range of eligibility requirements is also quite diverse.

  • SBA loans are open to both big and small businesses as long as they have a good credit score.
  • Short-term lines of credit are usually reserved for younger companies and startups, while experienced companies might be better off looking for other Fundera loan types.
  • Equipment financing loans are open to all businesses. Since the equipment acts as collateral, none of the other parameters are that important.
  • Invoice financing is reserved for companies with a business-to-business model that have outstanding receivables.
  • Merchant cash advances have very low requirements, which means they’re available to almost any business.

Keep in mind that just because you were rejected for a loan at some point in the past doesn’t mean you should give up. Fundera has a handy tool called “eligibility tracker” that lets you know when a new service appears that might be compatible with your business.

Fundera Repayment Terms

Depending on the type of loan you choose, you could be looking at daily, weekly, monthly, or quarterly payments. Fundera SBA loans are usually paid off on a monthly or quarterly basis, since loan terms can go up to 25 years. With invoice financing, it’s a slightly different approach, as repayment depends on the invoiced company. Merchant cash advances use a special system where the fee is taken directly from credit/debit card sales with additional costs on a daily basis.

The Bottom Line

What is Fundera? This company is in fact a diverse marketplace for loans that always prioritizes quality over quantity. You can find everything from SBA loans and the best business lines of credit to invoice financing and merchant cash advances at Fundera. With help from the company’s team of dedicated lending specialists, you’ll find a perfect fit for your business in no time.

Fundera Q & A

Is Fundera safe?


The best way to determine whether a lending company is reliable and reputable is to consult the relevant authorities in the field: the BBB, Glassdoor, and TrustPilot. Fundera’s BBB score of A+ is the highest possible mark, confirming that this is a genuine, trustworthy company. On TrustPilot, Fundera currently has an excellent score with 677 positive reviews. Another 64 verified positive reviews on Glassdoor confirm that assessment. All in all, yes, Fundera is a perfectly safe and reliable website.

Where is Fundera located?


Fundera’s headquarters are in New York, in the financial district. The exact Fundera address is 123 William St. The company has 128 employees and is led by its CEO and founder, Jared Hecht. Before establishing Fundera, Hecht created an app called GroupMe that was acquired by Google just a year after it was launched.

Is Fundera SBA approved?


Fundera is an online marketplace that matches you with lenders that offer the most affordable rates and best loan deals. As you can see in our Fundera review, this company is partnered with some of the top 100 SBA lenders like Five Star Bank, Celtic Bank, and First Home Bank. Aside from classic SBA loans, you can also apply for SBA microloans, which cater to small businesses that are just getting started.