Fundera by NerdWallet

Best for: Established businesses (roughly a year or more in business, $100K+ in revenue, 600+ credit) that want to compare term loans, credit lines, SBA and equipment offers from several lenders through one free application.

Not for: Borrowers who want a direct lender with published rates, a network of dozens of funders, or financing for a business under 6 months old.

Lender List verdict: Fundera by NerdWallet is a loan marketplace, not a direct lender: it matches you with partner lenders for free and is paid by the lender when you close. It is a sensible guided first stop, but offers come from a small partner network, and your price is whatever the matched lender quotes: 6% to 99% on term loans.

Fundera by NerdWallet at a glance

Fundera by NerdWallet is a free small business loan marketplace owned by NerdWallet that shows partner offers from $3,000 to $5,000,000.

What is Fundera by NerdWallet?

Fundera by NerdWallet is an online marketplace, founded in 2013 and bought by NerdWallet in 2020, that matches small businesses with partner lenders instead of lending its own money. Jared Hecht (a GroupMe co-founder) co-founded it in New York; it now operates as Fundera, Inc., dba NerdWallet Small Business.

Fundera says it has helped more than 77,000 businesses secure over $5.4 billion across 114,000+ loans. It does not publish its partner list; Finder counts seven current partners, including OnDeck, Bluevine and Fundbox.

How Fundera business loans work

Fundera business loans come from partner lenders: one application shows the offers you prequalify for, and you close directly with the lender you pick.

• Step 1: Answer questions about the business; Fundera uses a soft pull.
• Step 2: Compare matched offers, with a loan specialist's help if wanted.
• Step 3: Apply formally with your chosen lender, which may run a hard credit inquiry, then sign its closing documents.

Fundera rates and fees: what it really costs

Fundera charges borrowers nothing; the matched lender pays it a variable origination fee at closing, which United Capital Source puts at 2% to 5% and says can be passed on to you.

Partner pricing Fundera shows by product:

• Term loans: 6% to 99% interest, 6 months to 7 years, up to $5 million
• Lines of credit: $5K to $750K, 6 to 24 months, funded in 1 to 8 days
• SBA loans: 10.25% to 15.25%, 10 to 25 years
• Equipment financing: 4% to 45%, 1 to 10 years
• Merchant cash advances: factor rates of about 1.1 to 1.5, daily or weekly payments
• Invoice financing: 1% to 5% of the invoice value, advances up to 90%

Worked example (7% and 30% bracket the term-loan range United Capital Source reports; 3% is mid-range of its 2% to 5% fee estimate): a $25,000 term loan repaid in 24 monthly payments, with a 3% ($750) origination fee taken from the proceeds. At 7% the payment is $1,119.31 and you repay $26,863.55, so total cost is $2,613.55, roughly 10% APR. At 30% the payment rises to $1,397.82, you repay $33,547.69, and total cost is $9,297.69, roughly 33% APR.

Fundera loan requirements

Fundera loan requirements vary by product; past term-loan customers typically had a 600+ credit score, over a year in business and more than $100K in annual revenue.

Pros and cons

Fundera's best feature is a free, soft-pull comparison across seven loan types; its worst is a small, unpublished partner network.

Pros

• Free to use, with no Fundera fee to borrowers
• Soft credit pull to see matched options
• Covers SBA, term, line of credit, equipment, factoring, MCA and real estate
• Trustpilot 4.8/5 from 1,204 reviews; BBB A+

Cons

• Not a lender: approval, price and terms are set by partners
• Small network (Finder counts seven partners) and no published partner list
• The lender's fee to Fundera (2% to 5% per UCS) can show up in your origination fee
• Expect follow-up calls and emails after you apply

Fundera vs. Lendio vs. Nav

Fundera, Lendio and Nav are all free marketplaces, but Lendio lists 100+ lenders and Nav 25+, against seven partners at Fundera.

Lendio and Nav figures are from their own sites, checked 2026-10-26, except where Finder is named.

Choose Fundera for guided help with a few vetted offers, Lendio for the widest lender pool, Nav to also build business credit.

Fundera alternatives on Lender List

The closest Fundera alternatives are its own partners Bluevine and Fundbox, which you can apply to directly, plus Lendistry for SBA loans.

• Bluevine — line of credit up to $250,000, rates from 7.8%
• Fundbox — fast revolving line for newer businesses
• Lendistry — direct SBA 7(a) and term lender
• Browse all online term loans or business lines of credit on Lender List

Frequently asked questions about Fundera

Fundera is a legitimate, free, NerdWallet-owned loan marketplace.

Is Fundera Legit? Yes. Fundera has operated since 2013, has been owned by NerdWallet since 2020, holds NMLS ID 1240038 plus state licenses and registrations, including a California finance lenders license, a Vermont loan solicitation license and a Virginia broker registration. It is BBB A+ rated, scores 4.8/5 on Trustpilot (1,204 reviews), and Lender List found no regulatory actions.

What Is Fundera? Fundera is a free small business loan marketplace owned by NerdWallet since 2020. Founded in New York in 2013, it matches businesses with partner lenders for term loans, lines of credit, SBA and equipment financing, and is paid by the lender when a loan closes. It does not lend its own money.

Is Fundera a Direct Lender? No. Fundera is a loan marketplace, not a direct lender: it does not underwrite, fund or service loans and cannot approve you. Your matched partner lender makes the credit decision, sets the rate and terms, and pays Fundera a fee if your loan closes.

What Are Fundera Loan Requirements? It depends on the product. Past Fundera term-loan customers typically had 600+ credit, over a year in business and over $100K in revenue; lines of credit ran 630+ and $180K+; SBA loans 660+, three years and $180K+. Some partners accept scores as low as 500.

Does Fundera Affect Your Credit Score? No, not to see options. Fundera uses a soft inquiry to match you, which does not affect your score. If you move ahead with a partner lender, that lender may run a hard inquiry, and Fundera says you will be told before it happens.

How Does Fundera Make Money? Through lenders. Borrowers pay Fundera nothing; when you close a loan, the lender pays Fundera a variable origination fee, which United Capital Source estimates at 2% to 5% of the loan. Some lenders pass that cost through in their own origination fee, so compare total cost.

Does Fundera Offer SBA Loans? Yes, through partner lenders. Fundera shows SBA 7(a), Express, 504 and microloan options, with rates of 10.25% to 15.25% and terms of 10 to 25 years. Past SBA customers typically had 660+ credit, three or more years in business and $180K+ in revenue.

Fundera vs. Lendio: Which Is Better? Lendio lists 100+ lenders, so you will likely see more offers; Fundera has fewer partners (seven per Finder) and leans on guided help from loan specialists. Both are free, soft-pull marketplaces paid by lenders, and neither one sets your rate.

Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.