Fundera By NerdWallet Review
Fundera is a business funding matchmaker who will match you up with other business funders you may be qualified for. Fundera is a good place to start your search for business funding, including SBA loans.
Fundera by NerdWallet

Total Rating | 5.0 |
---|---|
Terms & Fees | Excellent |
Application Process | Excellent |
Sales & Advertising Transparency | Excellent |
Customer Service | Excellent |
Reviews, Complaints, & Testimonials | Excellent |
Pros
- Multiple types of financing available
- Website advertising is clear and informative
- Customer service is helpful
- Multiple avenues of customer support
Cons
- Rates can be expensive
- Charges some additional fees
Fundera by NerdWallet Overview
Fundera is a business funding matchmaker. Much like a loan broker, this company does not originate loans; instead, it matches you up with other business funders you may be qualified for.
Fundera is very selective about which business funders it partners with. While other matchmakers may partner with as many as 50-100 direct funders, Fundera currently partners with considerably fewer as part of a quality-over-quantity strategy.
Fundera’s partners offer a range of products, including merchant cash advances, short-term loans, lines of credit, medium-term loans, SBA loans, equipment loans, invoice financing, and personal loans (that can be used for business).
If you are completely overwhelmed by your options, Fundera is a good place to start your search for business funding. You will be able to determine which products you may be eligible for by simply making an account and providing very basic business information. Fundera can help you get and compare offers from some of the best funders in the industry, all with one application.
Not only is the company convenient and helpful, but everything about the service is transparent. The customer service is reportedly friendly and informative, and they have an excellent reputation across the web. Because Fundera is selective about the funders it partners with, and provides tools and information to help merchants find the financing they need, it is undoubtedly one of the best matchmakers out there.
If you’re not sure what kind of small business loan you need, Fundera is a good place to start your search. As a business funding matchmaker, Fundera can help connect you with the right financing for your small business — whatever your funding needs might be.
Are you interested in learning more? Read on for the details!
Table of Contents
Services Offered By Fundera
Fundera is a business funding matchmaker. With this online service, you complete a single application, which Fundera uses to match you with relevant business financing options on offer from affiliated lenders in its network.
Some of the financing services offered through Fundera’s network include:
- SBA loans
- Short-term loans
- Invoice financing
- Equipment financing
- Merchant cash advances
- Lines of credit
Some business lenders Fundera might match you with include BlueVine, Credibly, OnDeck, Fundbox, and others.
Fundera Borrower Qualifications
Because Fundera works with several different funders, it does not have any specific requirements regarding how long you’ve been in business, how much revenue you make, your personal credit score, or any other business characteristics.
Each of Fundera’s partners has its own requirements regarding business characteristics; as such, you may not be eligible for certain products.
If you make an account and find you are not eligible for the products you’re interested in, Fundera offers an eligibility tracker that can inform you when you do qualify for new products.
Fundera Terms & Fees
You will not have to pay a fee directly to Fundera at any point during the process.
Instead, Fundera receives compensation from its funding partners. Whenever a loan is funded through Fundera, the company collects a fee of 2%-5% of your loan amount from its partner. If you are not matched with a lender through Fundera, the company will not receive any money.
Because Fundera acts as a middleman, there is a possibility that the lending partner may pass some costs on to you. In a worst-case scenario, that means your loan might cost a little more if you go through Fundera than it would have if you went directly through the lender.
Otherwise, your fees will vary, depending on the lender you’re ultimately partnered with. For a list of what fees to expect, check out our list of common fees charged by business lenders.
Some of the products available through Fundera include:
Installment Loans
The term “installment loan” refers to financial products that provide the borrower with a lump sum. In exchange, you’ll make regular payments (usually monthly but sometimes weekly) until you’ve paid off your loan plus interest. Installment loans typically have terms longer than a year.
Short-Term Loans
Short-term loans can be a good (if expensive) way to get money in a hurry. Short-term loans often have expedited application processes and term lengths of less than a year. Rather than pay interest, at least in the traditional sense, you’ll pay a flat fee. That fee is a percentage (or a multiplier) of the amount you’re borrowing. So if you’re borrowing $10,000 and have a factor rate of 1.3, you’ll owe $13,000. Payments are made every week or every business day; make sure you’re comfortable repaying on an accelerated schedule before you commit to anything.
Lines Of Credit
If you don’t need your money in a single lump sum, you may want to consider a line of credit. The way it works? You’ll be approved for a credit limit, which represents the maximum amount of money you can borrow within your term. During that time, you can draw upon your line of credit in whatever increment you want, as often as you want, so long as the total amount borrowed doesn’t exceed your credit limit. You only pay interest on the amount that you’ve borrowed.
Equipment Loans
Equipment loans are very similar to installment loans, with one major difference: Since the loan is specifically used to purchase equipment, the equipment you’re buying acts as collateral (security) for the loan. Secured loans usually come with better rates and terms than equivalent unsecured loans.
SBA Loans
The Small Business Administration (SBA) is a government agency tasked with assisting small businesses. It doesn’t directly lend to small businesses but instead guarantees loans made by banks and other lenders. That guarantee allows businesses to access excellent rates and terms. The trade-off is that you’ll have to go through a long, slow approval process to satisfy all of the program’s requirements.
Application Process
Fundera provides a comprehensive explanation of the application process on its website.
To begin the process, you’ll be required to create an account and fill out a short questionnaire about the age of your business, your annual revenue, your personal credit score, whether or not your business is profitable, and what industry you’re in. The company will use the information you have provided to determine which products you may be eligible for.
It should be noted that until you officially apply, all of this information is self-reported. Before Fundera approves you for financing, your information will need to be verified.
When you have completed the questionnaire, Fundera will show you available loan products. A representative will reach out to you to explain your options, educate you on the products, and help you determine which is right for your business.
At this point, if you would like to apply for funding, you can choose the products and funders you’re interested in and fill out an application.
Your application will consist of answering questions and submitting documentation. The questions and document requirements will vary, depending on which lenders you’re applying for, but according to the FAQ, items commonly required include:
- Bank statements, tax returns, and credit card statements
- Balance sheets and profit and loss statements
- Verification from your landlord if you rent office space
When the application is complete, you will be presented with offers. You can compare these offers and choose the best one for your situation. Of course, if you need help choosing, your Fundera representative is available to help you out.
When you have chosen the best offer for your business and filled out the necessary paperwork, your loan will be funded.
Sales & Advertising Transparency
Fundera seems committed to providing a transparent service.
The website is full of information about both Fundera’s service and business loans at large. Fundera discloses information about what to expect from the process, how fees are collected, and any other information you might need to know before signing up. The website even has Shakespearean-style legalese in layman’s English on its Terms of Service and Privacy Policy pages.
It shouldn’t come as a surprise that Fundera is a signatory on the Small Business Borrower’s Bill of Rights and has therefore pledged to uphold certain standards, including “transparency, fairness, and putting the rights of borrowers at the center of the lending process.”
Fundera also provides a wealth of information about specific lenders and financial products and can serve as a solid resource.
Customer Service & Technical Support
Customer service is available by phone, email, or live chat via the website. Customers have reported positive experiences working with Fundera’s representatives — most claim that the customer service was helpful, informative, and not pushy.
Fundera also provides an in-depth FAQ that covers many questions you may have about the process, from application to repayment. The company also offers a well-populated resource center, including business loan calculators, lender reviews, financial templates, glossaries, and a host of other information about business loans and finances.
Fundera Reviews, Complaints, & Testimonials
Negative Reviews & Complaints
There are numerous Fundera reviews on Trustpilot and Facebook. The company is accredited by the BBB, and it currently has an A+ rating. Four complaints have been filed within the last three years, and all have been answered or resolved.
Reviews on the above sites are mostly positive, but here are a few complaints voiced by customers:
- Limited Funding Options: Fundera works with relatively few lenders. Some customers may prefer an aggregator that casts a wider net (such as Lendio).
- Denial After Preapproval: One customer was disappointed to learn that they were not, in fact, eligible for products Fundera had previously stated they were qualified for. Unfortunately, Fundera and its partners often cannot say for sure whether you’re eligible for a product before they’ve seen and verified certain financial documents and other information.
- High-Interest Rates & Other Fees: Some of Fundera’s partner funders come with high-interest rates and fees.
- Unresponsive Customer Service: A couple of customers reported difficulties reaching their customer service representatives.
Positive Reviews & Testimonials
On Trustpilot, Fundera has an aggregated rating of 4.7/5 out of 800+ reviews.
Customers were pleased with these aspects of Fundera’s service:
- Informative website
- Easy-to-use customer interface
- Helpful customer service
- Fast time from application to funding
But we’d like to hear from you! Have you tried Fundera’s service? Was your experience good or bad? Leave a message in the comments!
Final Verdict
Fundera is an excellent resource to help you find the funding you need. The website and customer support services are transparent and informative, and the application process is streamlined.
One thing to keep in mind: Fundera works with relatively few lenders, so if you are not eligible for funding from Fundera’s partners, you may still qualify for funding elsewhere. However, there is a good chance that other lenders would come with higher rates and fees than those on Fundera’s platform.
Regardless, matchmakers such as Fundera provide a valuable service to small business owners. The search for business funding is often a long, confusing, and arduous process, but with Fundera, you don’t have to go it alone.
The Merchant Maverick Seal of Approval 🏆
Fundera by NerdWallet ![]() |
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After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Fundera by NerdWallet for yourself.
The Merchant Maverick Seal of Approval 🏆
Fundera by NerdWallet ![]() |
---|
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Fundera by NerdWallet for yourself.
Organization Name: landscsapes
Dont waste your time with this fake company. They will get all your information and sale it on the dark web. WATCH OUT
I applied for a PPP loan through Fundera the first day applications were being taken. I supplied all the necessary financial and personal documents. I finally received an email today, stating that I had been “matched” with Cross River Bank, and to apply. I used the link, and it just says they are no longer taking applications. So…I supplied all my financial documents a month ago, have been thinking it is in process, and basically need to start at the bottom of the SBA list again. What a travesty, and waste of time, when this is really a critical time.
This comment refers to an earlier version of this review and may be outdated.
Thank you so much for this review! I think Fundera is exactly what I was looking for and may not have found without this review. I really appreciate the information you provided.
This comment refers to an earlier version of this review and may be outdated.