Fundera
Fundera ranks 2nd in the list of best online business loans. Fundera is an excellent choice for consumers looking to qualify for an SBA loan, owing to the fact that it allows you to fill out a single application and compare multiple SBA loan options in one place. Fundera, which was founded in 2013, is a loan marketplace rather than a direct lender. This means that the company connects small business owners to the best small business loans and lines of credit available today, but it does not lend money.
Fundera, as a marketplace, can provide almost any type of business loan or line of credit available today. This includes Small Business Administration loans, which typically have flexible repayment terms and low interest rates. Loan amounts and repayment terms vary, but an SBA loan in the amount of $5.5 million is possible. You may also be able to repay your loan over a period of up to 25 years, though funding can take up to two weeks. It should be noted that SBA loans may require collateral, which is especially true for larger loan amounts.
Pros
- Fundera offers an array of business loans and lines of credit, including loan offers through the SBA.
- Compare loan options through multiple lenders in one place
- Gauge your ability to qualify without a hard inquiry on your credit report
Cons
- Fundera is a small business marketplace and not a direct lender, meaning the company won’t actually fund your loan itself.
- Credit score of at least 550 required
- Collateral required for some SBA loans and loan amounts
Rating: 4.8/5.0
Enroll here: fundera.com
