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Fundera In-Depth Review
In a nutshell: Fundera is the go-to financial resource for every small business. The company's mission is to give business owners the tools and advice they need to succeed by comparing a range of lenders and loan options. Fundera has helped over 85,000 SMBs secure more than $2.5 billion in funding since its launch in 2014.
Fundera In-Depth Review
In a nutshell: Fundera is the go-to financial resource for every small business. The company's mission is to give business owners the tools and advice they need to succeed by comparing a range of lenders and loan options. Fundera has helped over 85,000 SMBs secure more than $2.5 billion in funding since its launch in 2014.
Fundera In-Depth Review
In a nutshell: Fundera is the go-to financial resource for every small business. The company's mission is to give business owners the tools and advice they need to succeed by comparing a range of lenders and loan options. Fundera has helped over 85,000 SMBs secure more than $2.5 billion in funding since its launch in 2014.
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Overview

Businesses looking for access to quick cash can turn to Fundera business loans as an alternative solution. Traditional bank loans can take time for approval to process and have strict requirements. With Fundera, businesses can acquire access to crucial capital, whether looking to get your start-up off the ground or replace equipment. Fundera has a range of financing options so even if your business is new or has poor credit, you may still have options

Fundera business loans provides a marketplace for borrowers to compare offers. A Fundera representative will work with businesses side by side to help throughout the process, from applying and shopping to accepting and paying back a business loan. Hands-on support means businesses receive funding quickly with support throughout the entire loan period.

Based out of New York, Fundera was founded in 2014, helps thousands of business secure over $750 in financing. Fundera business loans has earned a 5-star rating on Trustpilot. It is also accredited by the Better Business Bureau. Customers who feel unsure about sharing financial information online can rest assured as Fundera protects all information shared with its site with Norton Secured.

Features

Fundera doesn't provide loans directly themselves but instead is a marketplace connecting small business owners to lenders. Because of this, Fundera Business Loans can accommodate a range of industries and the specific needs of each applicant. Through a single service, customers can apply for different financing options for loans up to $5 million including:

  • SBA Loans
  • Business Term Loans
  • Business Line of Credit
  • Invoice Financing
  • Startup Business Loans
  • Short Term Business Loans
  • Merchant Cash Advance
  • Personal Loans for Business

Application Process

If you're a first-time borrower, Fundera business loans offers an easy-to-follow online application complete with informative resources to guide you through the process from start to finish. Make sure to review the Small Business Financing Guides at Fundera.com before you begin to get informed before committing to a loan.

When ready to apply, customers can handle the entire process through the Fundera website. The application involves a few questions regarding finances and which loan options you seek.

After submitting the application, Fundera business loans will pair you with a dedicated support person. From here, you can sit back as the Fundera representative will shop for lending options. Next, the agent will reach out with offers and help guide you toward making the right choice before accepting a loan.

Fundera works with over 25 online lenders, and the company is lender-neutral, meaning it does not promote one lender over another. If considering Fundera as an option to secure a business loan, keep in mind that the company generally looks for applicants with a credit score of 550 or higher.

Repayment Terms

Through Fundera, businesses can secure up to $5 million in loans. Fundera does not charge any origination fees. APR rates start at 7%. Because Fundera is not a direct lender, the company instead works with a range of lenders. This means that applicants benefit from flexible repayment terms depending on several factors. Prior to accepting a loan, a representative will work with the borrower to shop around for the ideal rates and terms for their loan. Repayment periods vary between 1 up to 25 years depending on the lender, type of loan and the amount being borrowed.

Customer Support

The Fundera Business Loans website has plenty of online resources to help businesses navigate the lending process. It all begins with the Small Business Financing Guide, an informative step-by-step tutorial on how to manage business loans, even for first-time borrowers.

Fundera business loans boasts excellent customer service. The attentive staff makes sure no questions go answered and that customers feel certain about making any financial decision.

Customers can get in touch with support directly by email (support@fundera.com) or through the toll-free number at 1 (800) 386-3372. Fundera also has a wealth of online resources available on its website.

prosAndCons icon
PROS
  • Range of business loans
  • Hands-on guidance
  • 5-star rating on Trustpilot
prosAndCons icon
CONS
  • Not a direct lender
  • Limited choice of lenders
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Top 3 Lenders
Fundera at a Glance
9.0Editorial Score
Loan terms
9.0
Loan aggregator
Application process
10
Quick and mostly online process
Eligibility requirements
9.0
Clear and fair eligibility criteria, including standard industry requirements
Additional benefits
8.0
Provides access to financial advisors at the start, a variety of educational resources, moderate discounts for repeat borrowers
Customer service and support
9.0
Standard business hours support, more than one contact method, acceptable response times
FAQs About Merchant Cash Advance Loans
Looking for a merchant cash advance loan but not sure where to start? We're here to help! In addition to our in-depth brand reviews, we provide answers to some of the most commonly asked questions about merchant cash advance loans.
What is a Merchant Cash Advance?
A merchant cash advance (MCA) is a lump sum of capital given to a business in exchange for a percentage of future sales. The repayment is tied to daily credit card transactions, making it a flexible and fast funding option for businesses with fluctuating sales.
How do Merchant Cash Advances work?
With a merchant cash advance loan, you receive a lump sum upfront and repay it through a percentage of your daily revenue or credit card sales. The more sales you make, the faster you repay.
What are the benefits of a Merchant Cash Advance?
Merchant Cash Advance terms will vary depending on influencing factors. However, some typical terms apply:

  • Quick funding: Access cash in 24-48 hours.
  • Flexible repayment: Payments are based on sales.
  • No collateral: No assets required.
  • No credit score check: Approval depends on revenue, not credit score.
Are Merchant Cash Advances expensive?
MCA loans can be more costly than traditional loans due to higher fees and daily repayments. However, they offer faster funding and more flexibility for businesses with variable sales.
Who is eligible for a Merchant Cash Advance?
Eligibility typically requires a business with at least 6 months of operation, consistent monthly revenue (usually $5,000 or more), and a strong history of credit card sales.
How much can I borrow with a Merchant Cash Advance?
The amount you can borrow depends on your business’s monthly credit card sales. Lenders offer a percentage of those sales as an advance.
Is a Merchant Cash Advance right for my business?
MCA loans may be an option for businesses that need fast funding but don’t qualify for traditional loans, particularly those with high credit card sales or seasonal income.

Alternatives to this include small business loans, which you can apply for through banks or online lenders. You can choose from short-term or long-term business loans, depending on your financial circumstances. This option will always run a credit check, however, interest rates are relatively lower so acts as a suitable alternative for Merchant Cash Advances.

*American Express Business Line of Credit Disclosure: All businesses are unique and are subject to approval and review. The required FICO score may be higher based on your relationship with American Express, credit history, and other factors. American Express® Business Line of Credit offers two loan types, installment loans and single repayment loans for eligible borrowers. All loan term types, loan term lengths, and pricing are subject to eligibility requirements, application, and final approval. This chart contains general information about the American Express® Business Line of Credit installment loan type only.
**Biz2Credit Disclosure: See website for details. Varies depending on product and qualifications.
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