Get Funded by Fundera: Fast Funding Up to $5 Million
- Min. Amount
- $2,500
- Max. Amount
- $5,000,000
- APR
- Varies by lender
Our verdict
A highly-rated, no-fee business loan connection service.
Fundera by NerdWallet is a business loan connection service with partner lenders such as OnDeck, Bluevine and Fundbox. It’s best for small business owners who want to quickly compare lenders with one easy application, and funding is possible within 24 hours. Options include term loans, lines of credit, SBA loans, short-term options and more. But it doesn’t give a lot of loan details or requirements to qualify on its website, and it only lists seven current business lending partners.
Best for: Business owners of all credit types looking to compare multiple loan offers.
Pros
-
Fast funding possible
-
Multiple loan options available
-
In-house loan specialists for support
Cons
-
Limited number of partners
-
Range of APRs not disclosed
-
Can lead to excessive solicitation
Is Fundera legit?
Yes, Fundera by NerdWallet is a legitimate service that works with legitimate lending partners. It’s helped more than 77,000 small businesses access over $5.4 billion in funding, and it has a number of programs and resources to help small business owners. It also has a secure website and online form to keep your personal and business information safe.
What makes Fundera shine?
- Fast application. You can fill it out in just a few minutes.
- Soft credit check. You can get matched with lenders without hurting your credit score.
- No funding fee. You don’t pay anything to use Fundera, even if you get funded.
- Strong customer reviews. Trustpilot users consistently praise the service.
- Helpful loans team. Borrowers highlight the in-house team as professional and responsive.
Where Fundera falls short
- Limited partner network. It currently works with only a handful of lenders, which can limit your options.
- No clear rate ranges. You won’t see APR details before applying.
- Unclear requirements. You have to fill out the form just to find out if you might qualify.
- More marketing calls and emails. Using a marketplace can lead to extra lender outreach.
Fundera business loans details
| Minimum credit score/credit range | 600 |
| APR | Varies by lender |
| Loan amount | Up to $5 million |
| Terms | 3 months to 25 years |
| Approval turnaround | 24 hours to 14 days |
| Availability | Available in all states |
| Fees | Varies by lender and loan type |
| Other fees | Unknown |
How to qualify for Fundera
Because Fundera isn’t a direct lender, it doesn’t set specific eligibility criteria. Instead, eligibility depends on the specific lender and the type of loan you’re after. For example, you’ll need a minimum credit score in the high 600s for an SBA loan, while merchant cash advances may accept scores in the low 500s.
- Minimum personal credit score of 520 to the mid-600s
- Minimum annual revenue (typically from $50,000 to $250,000+ per year)
- Preferably one to two years in business (six months may be OK for some short-term loans)
Remember, using Fundera is free, and it won’t impact your credit score to compare lenders. So, even if you have bad or fair credit, it could be worthwhile to check if you prequalify for a loan through its service.
Fundera business loans
Get connected with short-term funding, SBA loans, lines of credit and more.
| Features |
|
|---|
Your reviews
Finder
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.