Fundera Review

Fundera Overview

Founded back in 2013 and based in New York City, Fundera isn’t a business loan provider or lender, per se. Instead, this company serves as a business funding matchmaker. Quite similar to a loan broker, Fundera doesn’t originate any loans. Instead, it matches users with business funders that will accept to provide them with loans.

There are plenty of business funding matchmakers out there, just like Fundera, but the way in which this company aims to separate itself from the crowd is in its selection of funding partners. Some matchmakers are less scrupulous, working with dozens upon dozens of different partners, but Fundera only accepts to work with a much smaller number of funders. It takes a ‘quality over quantity’ approach to business lending.

Business Loans Offered by Fundera

As stated above, Fundera is a funding matchmaker, so it doesn’t directly offer any loans, but it can help you get the following types of loans from its funding partners:

• Instalment Loans – A classic form of business loan in which the borrower is given a lump sum and makes regular repayments on a monthly or weekly basis to pay off the loan and interest.
• Short Term Working Capital Loans – A great option for businesses that need money quickly and intend to pay it back quickly too.
• Lines of Credit – If you need money on a more regular basis, rather than one lump sum immediately, a line of credit can be a good option, letting businesses borrow and use only what they need.
• Equipment Loans – Fundera’s funding partners can also provide loans to help you buy new equipment for your business operations like vehicles or computers.

Fundera Details

Here’s all you need to know about how Fundera business loans work:

• Partners – Fundera matches applicants with one of its business funding partners, who all have their own rules and requirements regarding applicants, as well as their own policies and approaches to handing out loans.
• Fees – If you choose Fundera to help you find a business loan, you won’t have to pay anything to Fundera for the privilege. Instead, the company that gets your business has to pay a small fee to Fundera.
• Application – To apply for a loan through Fundera, you have to make an account and provide some info about your business and your own personal credit history. The company then uses those details to show you loan products from funders that should accept and approve you. You can then compare the options and pick one that works for you.

Fundera Verdict

Fundera is a great site to check out if you’re a little lost in the world of business loans or just want to speed up the process of finding the right loan for you. The site is easy to use and you don’t have to pay for the privilege either.