Fundera is a financing products marketplace company founded by Jared Hecht in 2013 in New York City, New York. The loan comparison website matches borrowers with up to three potential lenders at no cost through the completion of a short online form located on the site.

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Typical Borrowers

Loans through Fundera are best suited for startups, small, and mid-sized businesses that need funding for a wide range of business needs. For the best interest rates, borrowers should have a good credit score with two years of business operation experience and generation at least $100,000 per year in gross income.

Best Uses

Small business loans are typically used to acquire inventory, start/upgrade operational systems, marketing, invoice financing, and more.

Minimum Qualifications

  • In business for at least two years
  • Must generate minimum $9,000 in gross income monthly to avoid high interest rates
  • Minimum 680 credit score needed
  • Business collateral required

The Good

Small business owners are able to receive access to SBA loans, lines of credit, equipment financing, merchant cash advances, and 401k-rollover funding. Businesses that desire to avoid high interest rates will need to be generating at least $9,000/month consistently and operating for more than two years. According to its corporate profile, Fundera has provided $150 million in loans to businesses throughout the United States since its inception. Benefits of the Fundera platform include:

Pros of Fundera Small Business Loans

  • Transparent Terms
  • Instant Approval
  • Guaranteed Low Interest Rates
  • Receive up to $5 Million on Loan Funding
  • Free Resources and Tools

 Offered Loan Types

Fundera matches borrowers with lenders who provide a comprehensive range of loan options. Borrowers can be eligible to receive up to $1 million in small business loan financing, merchant cash advances, equipment loans, and up to 80 percent invoice factoring. Borrowers can also apply for business lines of credit or finance business purchases from personal 401k funds.

Educational Resources

Fundera offers numerous educational articles, tools, and other resources to help consumers secure and finance a business loan. The company provides calculators to help consumers figure out monthly payments. Should questions arise, consumers can contact the company by phone or through the live chat option on the Fundera website.

No Unwanted Phone Calls from Aggressive Brokers

Fundera works with only a trusted selection of lenders and does not sell consumer information to brokers. This eliminates the flood of phone calls typically received from use of other online financing marketplaces.

The Bad

While Fundera may be an ideal solution for some small businesses, there are also requirements and limitations to Fundera solutions as well. These include items such as:

High Interest Rates for Startups

Businesses operating for less than two years are subject to much higher interests rates, up to 20 percent APR. In addition, origination fees, closing costs, and prepayment penalties are much higher as well. Individuals looking to start a business may strongly want to consider pursuing alternative funding options.

Undisclosed Fees

The lenders suggested by Fundera may charge additional fees, such as prepayment penalties, origination fees, and closing costs. These fees are not publicly disclosed on the Fundera website and vary widely from lender to lender. Since Fundera only matches borrowers with up to three lenders, it can be difficult to determine if the offered deals are truly the best available options.

Time to Funding

While borrowers are able to receive instant funding approval, it can take a considerable amount of time to receive access to funds for certain loan types. Business loans through Fundera can take anywhere from two weeks to three months to process, which is not a good option for businesses that need money quickly.

Compare to Other Business Loans

The Bottom Line

Fundera offers a wide range of small business loans and assists borrowers over time to receive the least expensive loan option possible; however, funding access can take longer than other similar marketplace competitors and fees from lenders are not disclosed on the Fundera website. Customer feedback online appears to be mostly positive regarding the company’s customer service experience. Overall, Fundera is an online financing marketplace that we recommend for small business owners to get the loan funding they need.

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Frequently Asked Questions

How long will it take to receive funds from Fundera?

Available funds through Fundera can take anywhere from two weeks to three months, depending on loan selection.

Does Fundera require collateral with its loans?

Kabbage does require some form of personal collateral in order to receive a loan.

Does Fundera have prepayment penalties?

Publicly undisclosed prepayment penalties may apply with certain lenders through Fundera.

Does Fundera charge origination fees?

Publicly undisclosed origination fees may apply with certain lenders through Fundera.

Does Fundera charge closing fees?

Publicly undisclosed closing fees may apply with certain lenders through Fundera.

How can I contact Fundera?

Consumers may contact the company by phone at 1-800-386-3372.

More Information

Types of Loans Offered

  • SBA
  • Traditional Term Business Loan
  • Business Line of Credit
  • Equipment Financing
  • Merchant Cash Advance
  • Startup

Rates Offered


Term Lengths

Varies depending on loan type. Loans typically range from six months up to 25 years

The Borrowing Process

Borrowers can answer a few simple questions through an online form on the corporate website and receive approval within minutes. Once qualified, Fundera sends the consumer a list of matching lenders and loan options that are best suited to their needs. Once a loan is selected, borrowers can receive funds in as little as 2 days. However, certain loans can take up to 3 months for approval. Terms can be found for each loan type on the Fundera website. Fundera continues to work with borrowers after the initial loan selection to access less expensive loans in the future.

How To Apply

In order to qualify for loans with low-interest rates, business owners should have been in business for two years, have at least a 680 credit score, and generating a minimum of $9,000 in monthly gross income consistently. According to the corporate website, the process for applying for a business loan is as follows:

  1. Answer a few simple questions through an online form on the Fundera website. Borrowers will need to submit their annual business revenue, bank balance, credit card volume, debt sources, and current accounts receivable information.
  2. Based on the borrower’s answers, the company will send a list of available lenders and loan options that match the borrower’s current situation.
  3. Once a loan is selected, borrowers typically can receive funds within two days to two weeks; however, certain loans can take up to three months to process.
  4. Should any questions arise during the process, borrowers can call the company directly at 1-800-386-3372.

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