Fundera By NerdWallet Review

Fundera was founded in 2013 and had its central office located in New York City. It has since changed the money lending landscape. We will show you the main products, services, and auxiliary offers responsible for its long year of success.

Fundera By NerdWallet: Overview

Fundera is a lending company that matches merchants with a few select business funders.
Here is a checklist of products that you enjoy when you use Fundera and its funding partners:
  • invoice financing
  • SBA loans
  • Medium-term loans
  • Merchant cash advances
  • Short-term loans
  • personal loans
  • Equipment loans
  • Lines of credit

The product offerings are enlisted on the Fundera website to guarantee lenders easy access. All that is required is to register an account and present the barest business information. Once that’s done, Fundera lets you sift through offers from the best funders in the industry.

Fundera is user-oriented, and the best part is that its service is transparent. Plus, its customer service is responsive and helpful; little wonder the company has some of the best online reputations on the internet.

Fundera has been able to stand head and shoulders above other business funding matchmakers in the industry. And the reason is not far-fetched.

The company only partners with a few quality business funding partners, and their commitment to helping merchants find the right funders is second to none.


  • Presence of multiple financing systems
  • Straight-forward website adverts
  • Supportive customer service
  • Various forms of customer support


  • Costly charges
  • Extra charge

Fundera By NerdWallet

Fundera is the best at helping you find the proper funding to pivot your business.

What Services Does Fundera Offer?

Here is a look at some of the services offered by Fundera:

  1. Borrower Qualifications

    With Fundera, the vetting is done by Fundera’s partners, each of which has specific requirements for eligibility. This means that there is no set-in-stone requirement that must be met. 

    Therefore, and commonly, there will be occasions where you won’t find a suitable lender for your business. In that case, Fundera has an eligibility tracker that alerts you when there are new products you qualify for.

  2. Rates & Fees

    One of Fundera’s strongest selling points is that you are not required to pay any fees to Fundera in the matchmaking process.

    Instead, Fundera’s funding partners pay compensations (between 2%-5% of the loan amount) whenever Fundera facilitates a loan. However, you might find yourself paying more for the loan when Fundera acts as the middleman. Most times, the fees largely depend on the lender you are matched with.

What Products Does Fundera Offers

Installment Loans

Borrowers get a lump sum of money with this loan, and the terms last longer than 12 months. Payments are in installments that could be weekly or monthly until the loan and interest are paid off. You will be pleased to know that the loan terms last longer than 12months when you opt for this product. 


Short-Term Loans

This product is a good option if you are in dire need of some money. The application process and term lengths are often less than 12 months, and a flat fee (a percentage of the loan) is paid instead of interest. Payments are made weekly or every other business day.


Lines Of Credit

With this product, you are given a credit limit that determines the highest amount of money you can borrow within your term.

You can then borrow any amount you desire as long as you don’t exceed the stipulated credit cap. Interest is only paid on the amount borrowed.

Equipment Loans

This product has the same principle as installment loans. The only difference is that the equipment stands as collateral for the loan.

SBA Loans

The government set up the SBA (Small Business Administration) agency to make banks loans and private funding accessible to small businesses. 

As a result, qualified businesses can enjoy discounted rates and decent terms when they file for a loan. The downside is the long, slow approval process you need to go through to meet the requirements for the loan.

How to Apply For Fundera Loans

If there is one thing that Fundera got right, it is the way the application process is thoroughly explained on its website. You will be expected to get an account for starters and provide the details for a short questionnaire form. On this note, you may be asked to provide information about how long you have been in business, annual revenue, credit score, the viability of your business, and your industry. Fundera then verifies the information provided before using it to assess your eligibility for the available financial products. After your eligibility has been verified, Fundera then shows you the available loan products. Next, a member of the Fundera team clarifies your options, informs you about the specifics of the products, and helps you decide on the right product. Once you have decided on the funding option you want, the next step would be to pick a business funder and fill out an application. The application entails answering questions and submitting documentation based on the lender’s requirements. By and large, here are some of the things you’d need to fill an application:
  • A landlord’ verification
  • Profit and loss statements
  • Bank statements
  • Balance sheets
  • Credit card statement
  • Tax returns
Fundera provides you some offers once the application is completed. You then review them to arrive at the best one for you. There is always a Fundera representative to guide you through this process. Once you have settled for the proper funding offer, you will be expected to fill out the necessary paperwork, after which you can get the cash.

Fundera By NerdWallet

Apply Now

Sales & Advertising Transparency

In a bid to keep their service clear and transparent, the Fundera website is stacked with helpful information about the available services and business loans at large. In addition, the company offers detailed information about what the process entails, charges and origination fees, and other vital signup information. All this information is clearly defined on its Terms of Service and Privacy Policy pages.

Being a signatory on the Small Business Borrower’s Bill of Rights, Fundera is obliged to maintain the following standards: “transparency, fairness, and putting the rights of borrowers at the center of the lending process.”

As such, Fundera is a reliable resource for information on specific lenders and financial products.

Customer Service & Technical Support

Fundera has excellent customer service that you could access via phone, email, or live chat on their website. The Fundera customer support team has a reputation for being cooperative, instructive, and friendly.

Fundera also equips its customers with a detailed FAQ covering just about everything to know about the process.  

In addition to this, customers can access many other resources about the loan and lender to make the right decision. Some of these resources are the lender reviews, glossaries, business loan calculators, and a complete resource center.

User Reviews

Fundera has many excellent user reviews and testimonials from previous customers. 

Positive Reviews & Testimonials

95% of the reviewers on Trustpilot rated Fundera 4 or 5 stars, with a combined rating of 4.9 out of 5.

Here are aspects of Fundera’s service that customers loved:

  • Instructive website
  • Intuitive customer interface
  • Supportive customer service
  • Speedy processing

Negative Reviews & Complaints

You can find a ton of Fundera reviews on Trustpilot and Facebook. It currently has an A+ rating that the BBB endorsed. Only five complaints were made in the last three years, and they have all been taken care of.

Although most of Funder’s reviews on Trustpilot and Facebook are positive, here are a few negative ones:

  • Limited Funding Options: Some customers prefer Fundera to work with much more lenders.
  • Denial After Preapproval: There was an instance where a customer found out they were ineligible for products Fundera had initially deemed them eligible for. The reason for such a situation is that it is only upon verification of information that Fundera and its partners can determine eligibility for financing.
  • High-Interest Rates & Other Fees: Fundera has partner funders that charge high-interest rates or fees, especially for the smaller, younger businesses. That said, you could take such loans and refinance later when your business becomes eligible for better loans.
  • Unresponsive Customer Service: Some customers claimed that they could not reach customer service representatives when they wanted to.

Final Verdict

Fundera is the best at helping you find the proper funding to pivot your business. Its website is intuitive and instructive, while its customer support services are professional and highly supportive. In addition, the application process is well-run and fast.

However, Fundera works with only a few lenders. Therefore, you might experience some hassles finding a suitable lender, which makes sense because lenders only want to partner with reputable businesses. Nevertheless, you will benefit from a decent loan rate, original competitive fee, and a good deal if you meet their requirements.

All these combined, Fundera appears to be one of the best business matchmakers for small business owners looking to fund their business because no other company walks you through every step of the strenuous journey involved in getting business loans.