Fundera alternatives: what to use instead, and why

An alternative to Fundera is worth a look if you want one of four things: lender minimums they can check before applying, a way to review offers without a loan specialist, options for a business that is just starting, or a lender to deal with directly. Lendio publishes minimums, starting at 3 months in business for its unsecured loans. LendingTree lets you review offers yourself. TopFunders.ai introduces you to the partners ready to make you an offer. Biz2Credit is a lender.

Facts about each service come from its own website. Sources and dates are at the end of this page.

Disclosure: TopFunders.ai, operated by Funding Holdings LTD, runs this page and is one of the options on it. Fundera is a funding partner in our network. We describe Fundera only by what Fundera itself publishes, and every other service the same way.

How Fundera works

Fundera's site now carries the NerdWallet name, and its help center describes the process in its own words:

• One application, a soft check. Fundera's help center says filling out its application "only prompts one soft inquiry, which does not affect your credit score", and that you "may receive a hard inquiry" if you submit a formal application to one of its lending partners.
• A person is assigned to you. Once the application is complete, you are assigned "an in-house loan specialist" who contacts you by phone and email, helps with underwriting and walks you through any offers.
• Free to you. "There are no fees for applying with Fundera." It is paid "a small referral fee from the lender only if you are funded."
• Speed depends on the product. Short-term loans and lines of credit "can sometimes be approved and funded within one business day"; medium-term loans take "3-7 days" in Fundera's words.
• Not for starting a business. Asked whether it can help start a new business, Fundera's answer is "No": most of its lenders need a business that has been incorporated for some time and is generating revenue. It suggests a community bank, or a business credit card.

What Fundera does not publish on its how-it-works page: a lender count, credit or revenue minimums, or time-in-business minimums.

Pick an alternative by what you need

You want to see minimums before you apply

Lendio publishes minimums for its unsecured loans: a credit score of 625+, monthly revenue of $8K+ and 3+ months in business. Biz2Credit, a direct lender, publishes FICO 650 and $100,000 in revenue for its term loan. Fundera publishes none on the page we checked.

You would rather review offers without a loan specialist

LendingTree lets you "review potential offers and apply directly with a lender", or work with an account manager instead. TopFunders.ai introduces you to the partners ready to make you an offer, and you apply directly with the one you choose. Lendio, like Fundera, pairs you with a person.

Your business is new

Fundera says most of its lenders will not fund a business that is just starting. Lendio's published minimum for unsecured loans is 3+ months in business, the lowest here. Many online business lenders look for about 6 months. If you are earlier than that, Fundera's own suggestion, a community bank, is a fair place to start, and Nav can help you build business credit in the meantime.

You want to deal with a lender directly

Biz2Credit lends itself: its term loans are made by Itria Ventures LLC or Cross River Bank. You apply with bank statements and receive a funding offer.

At a glance, for someone leaving Fundera

TopFunders.ai is not a lender and not a loan broker. Getting matched is free and does not affect your credit, and we do not ask for your Social Security number, Tax ID or documents to match you. You see what your matched partners offer, not the whole market, and we do not compare rates across partners for you. A match is not an approval: each partner makes its own decision. The full walkthrough is in How TopFunders.ai Works: Business Loan Matching Explained.

For every service side by side, including products and who pays, see business loan marketplaces compared. For the same question about Fundera's closest match, see Lendio alternatives.

Frequently asked questions

Does Fundera do a hard credit pull?

Not to show you options, according to Fundera's help center: its application prompts one soft inquiry. A lending partner may run a hard inquiry if you submit a formal application to it.

Can Fundera help me start a new business?

Fundera's help center says no: most of its lenders need a business that has been incorporated for some time and is generating revenue. Lendio publishes an unsecured-loan minimum of 3+ months in business.

Does Fundera charge fees?

Fundera says there are no fees for applying, and that it is paid a small referral fee by the lender only if you are funded.

What is the closest alternative to Fundera?

Lendio: also a marketplace, also with a person assigned to you, and it publishes minimums for its unsecured loans.

Is TopFunders.ai connected to Fundera?

Yes. Fundera is a funding partner in the TopFunders.ai network, which is why this page describes it only in Fundera's own words.

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See which funding partners are ready to fund a business like yours at TopFunders.ai. Free to use, and checking your options doesn't affect your credit.

Sources