• CREDIT SCORE: 550+
  • BORROWING: $5,000 - $5 million
  • FUNDING TIME: Range From 1 Business Day to 2 Weeks

Fundera Reviews, Rates, Pros & Cons [2022’s Update]

  • CREDIT SCORE: 550+
  • BORROWING: $5,000 - $5 million
  • FUNDING TIME: Range From 1 Business Day to 2 Weeks

Best For

Us-Based Small Businesses


  • A simple and transparent process
  • Efficient customer support
  • The whole process is completed online
  • No hidden or extra fees


  • APR can be high for certain types of loans
  • Not available in all states

Fundera is a digital marketplace that acts as a bridge between small businesses and lenders. It is essentially dedicated to helping US-based small businesses find the right type of loans to overcome their financial challenges and grow. However, unlike many financial marketplaces, Fundera doesn’t work with hundreds of lenders because they only want to bring the best offers to their clients. They have strict selection criteria about who they partner with and prefer quality over quantity. A large number of positive Fundera reviews on different customer review websites is evidence of their commitment to quality.

In addition to helping businesses explore their financial options directly through their platform, Fundera also partners with many small business brands (through their referral program) to help customers find the right financing.

Established in 2013, the digital platform can help you find many different types of loans. The top ones include:

  • Short-term business loans
  • SBA loans
  • Term loans
  • Startup business loans
  • Equipment financing
  • Business lines of credit
  • Invoice financing
  • Merchant cash advance

The maximum amount of loan a business can secure through Fundera depends on the lender and the type of loan. However, on average, Fundera has lenders that offer loans from $2,500 to $5 million.

In this review, we will discuss everything you need to know about Fundera – its application process, terms and conditions, and the pros and cons of using their services.

Fundera’s Borrower Requirements & Terms

Since Fundera is a financial marketplace with several lenders on board, they do not have a specific set of terms and conditions for businesses to qualify for a loan through their platform. Lenders, however, have their own conditions and requirements, so make sure to check them once you have shortlisted your options.

Feature Data
Minimum time in business Varies across lenders
Credit score required 550+ on average (higher for SBA and equipment financing loans)
Annual revenue required Varies
Borrowing amounts range $5,000 – $5 million
Borrowing fee None (Fundera doesn’t charge any fee from borrowers)
Origination fee (or any other fee) None
Funding time Varies (can range from 1 business day to 2 weeks)
Location requirements The business must be based in the United States
Bankruptcies No active bankruptcies
Eligible industries All
Personal loan guarantee required Depends on the type of loan and lender
Collateral Varies (may not be required in some types of loans)
APR Different for various types of loans and across lenders

Most lenders on Fundera have minimum limits for credit scores, annual revenue, and operational time (time in business). Also, most lenders do not issue loans to businesses and owners that have active bankruptcies. Many will also require you to provide a personal guarantee.  Did you know that 29% of businesses had a problem with cash? But, that is not all, there are more reasons why businesses fail.

These are some of the most common conditions lenders may have. However, they can vary, so it’s always a good idea to evaluate a loan provider’s conditions carefully before you submit a loan application.

How to Apply for a Business Loan With Fundera?

Fundera has simplified the complex process of finding the right lender for your business. With a team of financial experts and a simple application process, Fundera only connects you with the loan providers that meet your requirements in every area. The funding process at Fundera involves the following steps:

Step 1 – Fill Out the Application Form

Visit www.fundera.com and click on See Your Loan Options tab, located on the top right of the home page.

You will be directed to a new webpage where you’ll be asked to answer a few simple questions regarding your business, which in turn will be used to determine the funding options you qualify for:

  • When did you start your business?
  • What’s your average monthly revenue?
  • What’s your credit score?
  • How much money do you need?

Step 2 – Talk to a Lending Specialist

Based on your provided information, Fundera will give you a list of loans you can apply for. To help you pick the right loan type and lender, they’ll connect you with a loan specialist from Fundera’s team, who will ask you a few more questions about your business and your needs, so they can find the best options for you.

Step 3 – Compare Your Options and Choose the One That Best Suits Your Needs

The loan specialist will help you evaluate all your options, understand their details, and compare them to find the best funding option for you (based on your credit score and the interest rate you need).

Step 4 – Apply for the Loan

Once you’ve selected the offer, you will be provided with an application form to officially apply for the loan. Fill in the application form and submit it along with the required documents to receive funding.

Pricing & Repayment

Fundera doesn’t charge any origination fee or other type of fee from borrowers at any point during the lending process. Instead, Fundera charges lenders for every client they acquire through the platform. The commission or acquisition fee can range from 2% to 5% of the loan amount. That said, lenders may charge various fees or interest, depending on their terms and requirements.

The conditions for loan provision, the interest rate, and repayment terms vary for different types of loans and across lenders. But, to give you an idea, here is a list with the range of interest rates and terms different lenders at Fundera offer for the most common types of business loans:

  • SBA Loans – Since SBA loans are government-guaranteed, they have low interest rates. Through Fundera, you can get SBA loans with interest rates starting from 6% with repayment terms anywhere from 5 to 25 years.
  • Business Term Loans – The interest rates for these loans can range from 7% to 30%, and the repayment terms can be 1 to 5 years.
  • Business Line of Credit – Depending on the lender you are working with, you may get a loan with only a 7%interest rateor one as high as 25%. Fundera’s partners only offer a short-term business line of credit with repayment terms ranging from 3 months to 2 years.
  • Invoice Financing – There is no fixed repayment term for invoice financing; it continues until the invoice is fully paid back. Lenders typically charge over a 3% factoring fee for this type of business financing.
  • Startup Business Loans  – The interest rates for startup loans can range from 7.9% to 19.9% at Fundera, and the term can be from 6 months to 4 years.
  • Equipment Financing – With interest rates ranging from 8% to 30%, equipment financing loans from Fundera’s partners are issued for the term of the expected lifespan of the equipment.
  • Short-Term Business Loans – These loans have interest rates starting from 10% and typically need to be repaid in 3 to 18 months.
  • Merchant Cash Advance – These loans are paid via daily installments and can have a factoring fee of 1.14% to 1.18%.

Fundera Online Reviews

Although Fundera is a new name in the industry, it has established a solid user base and has earned the trust of a large number of business owners. Most of the people who have used the platform had a positive experience. Most of the Fundera reviews on third-party websites, like BBB, Trustpilot, and even Glassdoor, are quite good. The company has an overall rating of 4.8 on Trustpilot, and 88% of the reviewers rated the platform as excellent.

Fundera also has an A+ rating on BBB.

Here are some Fundera customer reviews shared on different platforms:

Fundera Alternatives

If you are unable to find the right loan on Fundera (which is unlikely) or do not qualify for your desired loan, here are some good alternative options you can use:

  • Fundera vs Lendio

Both Fundera and Lendio have the same business model – both are online loan-matching platforms and are free to use. However, what customers note in most Fundera vs Lendio reviews, Lendio has more than 75 lenders on board, so it offers a greater variety of options than Fundera.

  • Fundera vs Rapid Finance

Rapid Finance (formerly known as Rapid Advance) is a direct lender known for having a higher approval rate than most other direct lenders. It also has a short processing time and is considered a good option for those who need quick financing. However, it only offers short-term business loans and merchant cash advance. While this can be seen as a downside in comparison with Fundera, if that’s what you need, Rapid Finance is a great option. Its maximum limits for these types of funding are higher than Fundera.

Rapid Finance provides merchant cash advance of up to $500,000 and short-term loans of up to $1 million. The maximum limits for both of these are $250,000 at Fundera.

  • Fundera vs BlueVine

BlueVine also offers a variety of loan options, but it is particularly known for invoice financing and lines of credit. BlueVine can offer up to $5 million in invoice financing and up to $250,000 for lines of credit. Fundera, on the other hand, has no cap on invoice financing – it offers funds for up to 100% of the invoice value. For a business line of credit, Fundera offers a maximum loan of $1 million.

One potential advantage of using BlueVine is that it’s a direct lender, so you won’t need to assess and compare different lenders to pick the best one.

The Wrap-Up

Fundera is an excellent resource platform for US-based small businesses that need funding, but do not qualify for traditional bank loans. They have a simple and straightforward application process, transparent policies, and an efficient team that can help you through every step – things praised in many Fundera loan reviews.

Fundera also offers an abundance of resource materials to help their audience gain authentic information regarding business, finance, and lending, and to learn about the best options available on the market.

The only downside according to Fundera reviews is that it has relatively few lenders. But, in their defense, they have few lenders because they prefer quality over quantity and are very careful in choosing their partners. In case that you don’t find a suitable solution, perhaps you can check out peer-to-peer lenders.


Can my business get a loan if I have an active bankruptcy?

No, you cannot get a business loan from Fundera if you have an active bankruptcy.

What industries are considered ineligible if you want to get a business loan?

Businesses operating in all industries are considered eligible and can use Fundera.

What is the customer support quality like at Fundera and what’s their customer service availability?

Fundera offers customer support via telephone and email. While Fundera offers limited support options, there have not been complaints from the users. Their customer support system is highly efficient.

Will an eligibility check impact my credit score?

No, Fundera uses a soft credit pull to find relevant options for you. This neither affects your credit score nor shows up in your credit history as an inquiry.

Who is Fundera business loan best for?

All US-based small businesses that need funding.

Does Fundera report to credit bureaus?

Fundera is a marketplace, not a direct lender. So, it doesn’t report to credit bureaus. However, certain lenders it works with do. These include BlueVine, OneDeck, Fundation, LendingClub, Seek Capital, and The Business Backer.

Is there a professional service fee?

There is no service fee for borrowers. Lenders, however, need to pay a commission or customer acquisition fee to Fundera for every customer they get through the platform. The fee ranges from 2% to 5% of the loan amount.

What is Fundera’s BBB rating? Is it accredited?

Fundera has an A+ rating on BBB. The company is also accredited with the Better Business Bureau since 2016, and Fundera reviews on BBB are good. Fundera reviews on other consumer review websites are also largely positive.


I am a curiosity-driven creature searching for answers — and questions — in the digital realm. From marketing through online business creation to software tools — I am fascinated by everything that can make life easier. When not looking for meaning, yoga and good food keep me grounded.