Fundera Review: Fast Funding Up to $5M for Small Businesses
- Min. Amount
- $2,500
- Max. Amount
- $5,000,000
- APR
- Varies by lender
Our verdict
A highly-rated, no-fee business loan connection service, but partners are limited.
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 85,000 small businesses access over $2.5 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?
Fundera stands out for its simplified application process, which takes just a few moments to fill out, and it only requires a soft credit check to get matched with lenders. And unlike some connection services, there’s no funding fee to use Fundera — even if you get matched and financed by one of its partners.
Fundera also gets overwhelmingly high marks from customers on Trustpilot, who praise its in-house loan team for its professional, helpful and responsive service.
Where Fundera falls short
Unlike other connection services, Fundera has a relatively limited number of partners – just seven at the current time. This limited selection may restrict your options compared to some other services, like Lendio, which claims to have 75+ partners.
There’s also not much information about APRs or eligibility criteria. Instead, you need to fill out the form to find out if you prequalify with any of its partners. Plus, the very nature of loan connection services means you could receive a large volume of marketing solicitations.
Fundera business loans details
| Minimum credit score/credit range | 520 |
| 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 |
Fundera contact info
| Phone number | 800-386-3372 |
| Customer service hours | Undisclosed |
| support@fundera.com | |
| X, formerly Twitter | @fundera |
| Fundera by NerdWallet |
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.
How to apply
Applying with Fundera is fast and straightforward:
- Select Get Started on Fundera’s website.
- Answer some basic questions on the prequalification form.
- Review your list of lending options if you qualify.
- Apply directly with a lender and/or wait for one of Fundera’s team members to contact you.
- Formally apply for a loan and upload any requested documents.
- Wait for final loan approval and funding.
How Fundera compares to other lenders
What is the Finder Score?
The Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.
Fundera reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1 out of 5 stars, based on 4 customer reviews |
| BBB customer complaints | 6 customer complaints |
| Trustpilot Score | 4.6 out of 5 stars, based on 976 customer reviews |
| Customer reviews verified as of | 18 February 2025 |
Fundera has an A+ rating on the Better Business Bureau (BBB), but it only has four reviews and one complaint, which are all negative. The top complaint was the excessive amount of phone calls, emails and texts after applying on the site.
It does much better on Trustpilot, with the majority of reviewers giving it five stars. Satisfied customers praised the professional and helpful customer service representatives who went above and beyond to help them find the right loan product. Even customers who decided to go in a different direction were pleased with the service. But others complained of excessive solicitation or only receiving loan offers with very high rates.
What do people on Reddit say?
Frequently asked questions
Does Fundera do a hard credit pull?
No, Fundera doesn’t require a hard credit pull to use its service. However, you’ll likely need to undergo a hard credit check when applying for a loan through one of its partners.
Can I get a loan from Fundera to start a new business?
Probably not. Most of its partners don’t offer loan products suitable to start a new business, says Fundera on its website. In general, your business needs to have been operating for at least six months and be generating revenue to qualify for a business loan.
How does Fundera make money?
Fundera makes money by earning a commission from the lenders it partners with. It never charges a fee to the borrower, even if you are funded through one of its partners.
Who are Fundera’s competitors?
Some of Fundera’s top competitors are other business loan marketplaces like Lendio, Biz2Credit and businessloans.com.
Your reviews
Kat Finder
Writer
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