Term Loans

Receive a lump sum and expect to make regular payments – usually monthly and less often weekly – until you’ve paid off your loan, plus interest.

Lines of Credit

Receive a credit limit, which is the maximum amount of money you can borrow within your term. So instead of getting a lump sum, you will draw upon your line of credit when you need it. How much and how often doesn’t matter as long as the total borrowed amount does not exceed your credit limit. You will only pay interest on the amount you borrowed.

Short-term Loans

You’ll get a flat fee for the loan rather than the interest once you go through the expedited application process. The fee is often a percentage of the amount you’re borrowing and payments are made every week or everyday.

Cash Advances

You can get a sum of the capital that you can repay including a fee with a set percentage of your business’ credit card sales.

Equipment Financing

Receive an installment loan that is used for purchasing equipment then the equipment will act as a collateral. These loans often come with better interest rates because they’re secured.

Invoice Financing

Sell your invoices to a lender, who will cover a portion of the invoice amount, it’s usually 80%. The remaining percent will be held until the invoice is paid.

SBA Loans

Through the Small Business Administration, get government-guaranteed loans that et you access excellent rates and terms. However, you will be subject to a long and slow approval process to satisfy all program conditions.

Although Fundera does not have any specific requirements for borrowers, but each funder will have their own minimum qualifications:

• How long you’ve been in business
• How much revenue you make
• What your personal credit score is

However if you don’t meet the funder’s borrower requirements, you won’t be eligible for their products. Fundera does offer an eligibility tracker that lets you know when you meet the requirements for a new product.

Fundera doesn’t charge any fees to borrowers, but they collect a fee of 2% to 5% of your loan amount from their funding partners. However , there is a chance that your funder might pass some of their costs to you.

Which means that your Fundera loan might cost more than if you went directly through the funder. Please note that other fees will very depending on the funder you choose.

1. Create an account and fill out a short questionnaire that covers 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.
2. Get a list of available loan products. Choose which products and funders you’re interested in.
3. Fill out an application. This will require answering questions and submitting documentation, including bank statements tax returns, credit card statements, balance sheets, profit and loss statements, and verification from your office landlord.
4. Get a list of offers. Compare and choose the best offers for your financial situation and business goals. If you need help, contact a Fundera representative.
5. Fill out the necessary paperwork.
6. Receive your loan.

You can contact Fundera’s customer service via phone, email or live chat on their website. Plus they also provide an in-depth FAQ and a well populated resource center, which includes business loan calculators, lender reviews, financial templates. glossaries, and more!