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Fora Financial

Name: Fora Financial
Rating: 4.5

4.5

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28 User Reviews

6.6

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4.5

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28 User Reviews

6.6

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Company Details

Maximum Loan Amount

$500k

Quickest Time to Funding

3 Days

Time in Business

16 Years

Company Headquarters

519 8th Ave 11th Floor, New York, NY 10018

Number of Reviews 28

info Source of Information

LAST UPDATED: November 18th, 2022

Fora Financial was founded in June 2008 and has provided over $2 billion in funding to over 25,000 small businesses nationwide.

Fora Financial provides working capital solutions to small businesses in need of financing to sustain or grow their enterprise. The company places a high value on trust and transparency and provides businesses with quick, customized financial solutions, utilizing state-of-the-art technology platforms.

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The Good

Application and Eligibility
Small Business Options
New Businesses Welcome
Customer Service

Application and Eligibility

Fora Financial has an easy application process with minimal entry requirements. The company boasts a free non-committal quote and an application that can be completed in minutes. Additionally, the application process only requires a few bank statements, in comparison to extensive paperwork banks and some business loan companies make you turn in.

Fora Financial also offers a convenient funding calculator where a user can input their monthly revenue, years in business, and average ledger to see eligible funding.

Basic eligibility requirements include the following:

At least six months in business
$12,000 in gross sales for a short-term loan
$5,000 in credit card sales for a merchant cash advance
No open bankruptcies

Highlight: Fora Financial does not require collateral.

Whereas most banks require collateral to obtain a business loan, Fora Financial does not. The company doesn't charge prepayment penalty fees, either.

Small Business Options

Fora Financial offers short-term loan term plans ranging from 4 to 15 months.

Working capital loans are in amounts from $5,000 to $500,000 and there are no restrictions in regards to how to use your loan. Some common uses include the following:

Pay taxes
Purchase inventory
Upgrade equipment
Hire staff
Advertise
Expand operations
Finance payroll
Renovate workspace

Fora Financial also offers a merchant cash advance. A merchant cash advance requires no collateral, has no set terms, and offers early payoff discounts. The company can approve merchant cash advances up to $500,000 in as little as 72 hours from approval, so the funding is extremely fast.

New Businesses Welcome

With Fora Financial, a company only has to have been in business for six months in order to be eligible for funding.

Customer Service

Fora Financial puts a lot of emphasis on transparency and customer service. It's easy to get ahold of a representative, and borrowers don't have to sit through a long list of options read by an automated machine in order to get through. Fora Financial reviews speak highly of the company's customer service.

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The Bad

Undisclosed Interest Rates
Monthly Revenue Required
No Long-Term Loan

Undisclosed Interest Rates

Fora Financial does not provide a calculator or chart for business owners to estimate interest rates on its website. Potential borrowers are encouraged to reach out to the company for more information on interest rates.

Monthly Revenue Required Amount

Fora Financial has a higher-than-average required monthly revenue amount for businesses. Businesses must be generating at least $12,000 per month in gross sales or $5,000 per month in credit card sales in order to qualify for a loan.

No Long-Term Loan

The lengthiest loan term Fora Financial offers is 18 months. This is quite restrictive in the industry, as some other lenders offer loan terms up to 36 months.

Additionally, Fora Financial does not offer a line of credit or SBA loan options.

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The Bottom Line

Fora Financial has an application that is simple and doesn't require complicated documentation. There's no collateral required, and you can get funding within 72 hours of approval. However, there are no long-term loans, line of credit, or SBA loans available through this lender, so keep that in mind.

Fees and interest rates depend on how long a company has been in business and their total annual revenue, so Fora Financial would be best for businesses with at least six months of consistent revenue that are looking for funding fast.

Fora Financial reviews are overwhelmingly favorable. Read reviews below to hear directly from customers.

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User Reviews

Star Rating

4.5

star star star star star_half

28 Reviews

Review Breakdown

5 grade

79%

4 grade

11%

3 grade

2 grade

1 grade

Sentiment Criteria

Value

star star star star star_half

Quality

star star star star star_half

Service

star star star star star_half

Trustworthiness

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star star star star star

Talavera Construction Pennsauken, NJ

I started working with George a few months ago, we were going back-and-forth with emails and he was always very accommodating and very knowledgeable of everything that I was looking to do. I finally decided to let George help me get the funding that I need. Working with him was an amazing experience he made you feel comfortable he kept you up-to-date on every step of the way! I look forward to having a long standing business relationship with George and fora Financial. I only didn't gain a great source for business funding I feel like I gained a friend that has my best interest at heart. George Talavera

3 years ago Edited September 14, 2021

Reply from Fora Financial

Hi George,

Wow, thank you for this review! We love working with small business owners like you, and look forward to serving you again in the future.

Best,
Fora Financial

Apr. 26th, 2021

star star star star star

Alan K Lyndhurst, NJ

My partner and I were hesitant at first but figured won't hurt to inquire and so we did. John D was assigned to us as our rep and he deserves tremendous praise for the way he made it easy for us even though our business was going through a rough patch and not everything was in order. We did end up agreeing to slightly higher rates but we had that coming given other factors. Communication was not an issue with fora. Customer service was top notch. Will use them again for sure.

5 years ago

star star star star star

Ed Gnad Lakeland, FL

George was an absolute pleasure to work with. He was very informative and patient when explaining all of our options. He followed up and more importantly followed through with everything he said he would do. I highly recommend working with him if you have any financial needs in the future!

3 years ago

Reply from Fora Financial

Hi Ed,

Thank you for letting us know that you had a great experience working with George! If you need anything else, please don't hesitate to let George or our customer service team know.

Best,
Fora Financial

Apr. 26th, 2021

star star star star star

Yolanda l Springfield, NJ

My rep worked very hard in getting us the right terms. He was also always availble and quick to respond to our concerns and questions. loan was approved very fast and it has helped my business a lot. He was very reliable and trustworthy. I highly recommend fora finance to other businesses.

5 years ago

Reply from Fora Financial

Thank you Yolanda!

Apr. 8th, 2019

star star star star star

Susan k Rutherford, NJ

John d. was great to work with. He even responded to emails after work hours and kept me calm as i was getting anxious to get funding in time. They got me funded within a week, although i did have a healthy finance record and a decent credit score. thumbs up to fora. Will defnitely use them again

6 years ago

Reply from Fora Financial

Susan, thank you for the kind words. We look forward to working with you again.

Apr. 8th, 2019

star star star star star

nicholas dowdell Alexander City, AL

George did a great job helping us during this process. It was a plus that he understood our industry. He went to work right away and got us the funding that we needed quickly. He is a great asset to your company.

3 years ago

Reply from Fora Financial

Hi Nicholas,

Thank you for sharing your experience with us! We'll be sure to let George know that you enjoyed working with him.

Best,
Fora Financial

Feb. 9th, 2021

star star star star star

All Points Plumbing LLC Spring, TX

Craig L was very helpful, professional, informative and prompt in returning calls. He explained as well as walked me through the entire process. Amazing experience. Very smooth process.

3 years ago

Reply from Fora Financial

Thank you for sharing your experience with us! We're glad to hear that Craig facilitated a smooth funding process for you and your business. Please let us know if we can assist you further!

Jan. 22nd, 2021

star star star star star

Caitlin Navarre Norcross, GA

George is a outstanding guy! He has helped me through the entire process! Super pleased with everything he has done so far! I look forward to this long relationship doing business together!

3 years ago

Reply from Fora Financial

Hi Caitlin,

Thank you for the review! We look forward to working with you in the future as well. If you have any questions or need anything else, we're always happy to help.

Best,
Fora Financial

Jan. 14th, 2021

star star star star star

Kelly W Seattle, WA

George was a pleasure to work with. He was personable and professional. Explained the process carefully and made us feel comfortable with the expectations on our side without being pushy.

3 years ago

Reply from Fora Financial

Hi Kelly,

Thank you for sharing your experience with us! We're so happy to hear that George was able to facilitate your funding process. If you need anything else, please don't hesitate to reach out.

Best,
Fora Financial

Jan. 14th, 2021

star star star star star

joel george Austin, TX

My experience with Fora Financial has been excellent. I worked with George J and he really works hard to facilitate a positive experience. His professionalism and knowledge make the process seamless and straightforward.

3 years ago

Reply from Fora Financial

Hi Joel,

Thank you for sharing your positive feedback about working with George! We love working with small business owners like you. If you need additional assistance, please contact us at: (855) 326-8523.

Best,
Fora Financial

Dec. 8th, 2020

star star star star star

Cindy Habel Amarillo, TX

I have to say that working with George J was very easy and he made the process simple and was attentive to make sure the transaction went smooth with no issues. I would without a doubt

3 years ago Edited September 14, 2021

Reply from Fora Financial

Hi Cindy,

We’ll be sure to let George know that you enjoyed working with him, and wish you and your business continued success! Please feel free to contact our customer service team at (855) 326-8523 if you need anything else.

Best,
Fora Financial

Nov. 17th, 2020

star star star star star_border

Jolene Schneider Farmington, NM

It was so easy to work with Fora Financial. The entire process was clear. Customer service was excellent. Representatives are so attentive and responsive. Any questions I had were answered in a timely and professional manner.I would strongly recommend Fora Financial for small business funding.

5 years ago

Reply from Fora Financial

Thank you for your comments, Jolene!

Apr. 3rd, 2019

star star star star star

Victor Lindel Elmhurst, NY

Rates can be a little on the higher side, depending on several factors, but you get ur funds really fast. Highly recommended in this space and they're suitable to small businesses like mine.

6 years ago

star star star star star

Qaisar Khan Wesley Chapel, FL

Working with George J. has been extremely easy and a smooth process. He is very knowledgeable and up front. I highly recommend this company for your business funding.

3 years ago

Reply from Fora Financial

Hi Qaisar,

We're happy to hear that George facilitated a stress-free financing process. If we can assist you again in the future, please let us know!

Best,
Fora Financial

Apr. 26th, 2021

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Dr Jeff Lawson Pensacola, FL

I currently have a loan with Fora Financial and am being Charged 80% on $10,000 or just over $4,000 on a 6 month loan. I didn't even get the full 10,000 because they took fees from the amount I was actually borrowing! they are taking over $70 a day out of my bank account despite a Pandemic and every state in the nation being declared a disaster area simultaneously for the first time ever. I contacted them 21/2 weeks ago expressing concern at having to servicing what amounts to an illegal contract to start with due to the 80% interest rate which is not only illegal in any jurisdiction but immoral and repugnant in this unprecedented time of our nations history. They had me give them access to my bank account so they could give me a decision on working something out. They then immediately directed me to a stimulus/SBA site and told me to apply quickly. I never heard a word back from them. They were just handing me lip service while the continued to take over $70 a day out of my account. A total of $1260 since I was told they would get back to me in a few days! I have a small chiropractic practice which is basically at a stand still due the stay at home order. I was supposed to get funding to buy my office from the people that are owner financing my office. They will not renew the 2 year balloon contract in July and this is just going to be the last nail in the coffin. Fora financial didn't disclose all the terms and are very high pressure and rush you while handing you a contract to sign that doesn't reflect what they are telling you prior to asking you to sign what is in essence an illegal contract. I am currently pursuing a class action lawsuit after reading so many other reviews that reflect my own personal experience with this very unsavory company. DON'T TRUST ONE THING THEY TELL YOU.. Dr. Jeff Lawson

4 years ago

Reply from Fora Financial

Dear Dr. Lawson:

We have reviewed the concerns you raised in your online posts. We take complaints of this nature very seriously. To that end, our Director of Servicing called you yesterday and sent a follow-up email to you to discuss your account. We are working with all of our distressed customers who request assistance during this challenging time and would welcome the opportunity to talk with you. Please contact our Customer Service Department at (855) 326-8523. They will forward you to our Director of Servicing to discuss this important matter. Feel free also to reach out via email to the address you have already used.

Regards,
Fora Financial

Apr. 17th, 2020

star star star_border star_border star_border

Brian Avar Laguna Hills, CA

i have already gotten 3 loans from you and one would have thought that after establishing such a relationship the interest rate would drop but that was not definitely the case also more importantly you are running a very self serving strategy by not reporting the established payment history to the credit bureaus and all the very high interest payments that we have made to you did not help us a bit to establish any credit history in our profile at all, all and all you are running a highly predatory financing and for those reasons i would never ever do business with your company again.

5 years ago

Reply from Fora Financial

Dear Mr. Avar:

We are in receipt of your recent Best Company online review and rating. As you are aware, we responded to your October 8, 2018 email the next day, regarding the same issues you raised in your current online review. We are sorry you remain dissatisfied. However, we do appreciate your business and thank you for being a Fora Financial customer. If you would like to further discuss this matter, we invite you to contact our Customer Service Department at (855) 326-8523.

Very truly yours,

Fora Financial

Feb. 19th, 2019

star star star star star

Veronica Cooper Boston, MA

I had a great experience. They provided me with a loan within a week, and I appreciated how they explained everything to me and answered my questions.

6 years ago

star star star star star

Rachel Bing Newark, DE

I've been happy with my experience with Fora. They were very clear on their products and process. I would recommend them to other small businesses who need money.

6 years ago

star star star star star

Brian Vigorita Beacon, NY

George was great! Thoroughly explained the process from start to finish, walked me through step by step. On top of it for sure!!

3 years ago

Reply from Fora Financial

Hi Brian,

We're so happy to hear that George was able to help your business! Please don't hesitate to reach out if you need anything else.

Best,
Fora Financial

Feb. 9th, 2021

star star star star star

Miguel Gracia ,

Worked with George J, he worked hard and fast to get my approval. Would love to work with him in the future.

3 years ago

Reply from Fora Financial

Hi Miguel,

Thank you for being a Fora Financial customer! We hope you and your business find great success this year, and please let us know if you need additional assistance.

Best,
Fora Financial

Feb. 9th, 2021

star star star star star

Pam Chandler Minneapolis, MN

George was wonderful to work with. He made the process super easy, and always communicated exactly what was happening.

3 years ago

Reply from Fora Financial

Hi Pam,

We’re happy to hear that George provided you with a positive funding experience! Please let us know if we can be of assistance to your business in the future. Our Customer Service team is always happy to help! They can be reached at (855) 326-8523.

Best,
Fora Financial

Nov. 30th, 2020

star star star star star_border

Arjit Sin Bristol, CT

This is our 3rd loan with fora. A+ service, rates can be high but service and speed is great. Very quick to respond to my questions.

5 years ago

Reply from Fora Financial

Hi Arjit,

Thank you for being a repeat-customer! We are happy to hear that you’re satisfied with our services. Please let us know if we can provide further assistance in the future.

Best,
Fora Financial

Oct. 2nd, 2018

star star star star star

TJ Yelm, WA

Great customer service for all my transactions. Rates are better than most of the industry.

4 years ago

Reply from Fora Financial

TJ, thank you for your comments!

Jun. 26th, 2019

star star star star star_border

Rose Morristown, AZ

Fora Financial is good to work with but gives no breaks in finance charges for an excellent payment record.

5 years ago

star star star star star

Heather Richfield Springs, NY

Easy and absolutely no hassle. Great experience overall. Craig was awesome

3 years ago

Reply from Fora Financial

Hi Heather,

Thank you for sharing your experience with us! We'll be sure to let Craig know that you enjoyed working with him.

Best,
Fora Financial

Apr. 26th, 2021

star star star star star

Hillbillies Restaurant Murphys, CA

Always prompt and efficient!!!! Customer service is the best!!!

5 years ago

Reply from Fora Financial

Thank you for the review!

Apr. 8th, 2019

star star star star star

Anthony Mullens Austin, TX

George was great to work with and made the process smooth.

3 years ago

Reply from Fora Financial

Hi Anthony,

Thanks for letting us know that you had a great experience with George! We love hearing from business owners like you. If you need additional assistance, please contact our Customer Service team at (855) 326-8523.

Best,
Fora Financial

Nov. 30th, 2020

star star_border star_border star_border star_border

TERRY SEMANKO Duluth, MN

They were not straight forward about early payoff and took advantage of my company for $8000.00

1 year ago

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