Fundera, which now operates as Fundera by NerdWallet, is a business loan marketplace: you fill out one application and it connects you with offers from lenders in its network. Its own site says it does not fund businesses or approve loans; it uses a soft credit pull to show you options, and the lender you pick may run a hard pull later (per its site, checked October 2026). It fits owners who want to compare many products at once. If you want Spanish-speaking support, only have an ITIN or want a decision within hours, Merchant Fund Express is our recommended alternative.
Below we explain how Fundera works, which products it compares, what it publishes about requirements and when it makes sense to look elsewhere. Leer en español.
Key takeaways
- Fundera by NerdWallet is a marketplace: it compares offers from lenders in its network, but it does not lend or approve.
- Using it is free and the initial credit check is soft; the lender you choose may run a hard pull afterward.
- It compares seven products: SBA, term loans, lines of credit, equipment financing, invoice factoring, merchant cash advances and commercial real estate.
- It does not publish one minimum score: it says some lenders accept scores from 500 and some accept businesses with 3 to 6 months of history.
- Final terms are set by the lender you choose, not by Fundera.
- We found nothing on its site about Spanish-language support or ITIN applicants; ask before you apply.
What Fundera is and how it works
Fundera started as a small business loan marketplace and now presents itself as Fundera by NerdWallet; its domain redirects to a NerdWallet subdomain. The model is simple, and this is how its site describes it (per its site, checked October 2026):
- Tell it about your business. You answer a few questions to see which products might fit. It says this is free and does not affect your score.
- Compare options. It connects you with several loan options and offers guidance on choosing.
- Get funded. After the lender approves you, you sign the closing documents. It says some lenders can approve and deposit funds within one business day.
Its FAQ is blunt about it: it is not the lender, it does not fund businesses or approve loans, and it connects owners with a network of vetted lenders. That means the rate, term, collateral and payment schedule are all decided by the lender you choose.
Products it compares
Fundera shows seven types of financing on its platform. Here is what it says about each, in short:
| Product | What Fundera explains |
|---|---|
| SBA loans | Partially backed by the SBA and made by banks and credit unions; long terms and low rates |
| Term loans | A lump sum; short-term up to 24 months, long-term up to 10 years or more |
| Lines of credit | Draw what you need and pay interest only on what you use |
| Equipment financing | Up to 100% of the equipment's value; the equipment serves as collateral |
| Invoice factoring | You sell invoices at a discount; advances typically up to 90% |
| Merchant cash advance | Technically not a loan; easy to qualify for, fast and among the most expensive options |
| Commercial real estate | To buy, refinance or renovate property; the property is the collateral |
It is a useful showroom for understanding your options. If you have never used one before, read 5 things to know about using a lending marketplace.
Requirements and the effect on your credit
Fundera does not publish a single set of requirements, because every lender in its network sets its own. What its site does say (checked October 2026):
- Credit: getting a loan with bad credit is possible; some lenders accept scores from 500, with higher rates and shorter terms.
- Time in business: some online lenders accept businesses that have been operating for 3 to 6 months.
- To get more options: good credit, several years in business and strong revenue all help.
- Credit check: it uses a soft pull to see which options fit. If you move forward with a lender, you may get a hard inquiry, and it says you will be told during the formal application.
- Cost: it says discovering your options is free.
We found nothing on its site about whether lenders accept ITIN applicants or whether support is offered in Spanish. If either matters to you, ask before you hand over your information.
Have this ready before you start: ID, EIN and your LLC or DBA documents, 3 to 6 months of business bank statements, your latest tax return and a clear idea of the amount and use. Each lender in the network may ask for more; having these on hand keeps a good offer from expiring while you dig up paperwork.
Pros and cons of using a marketplace like Fundera
| Pros | Cons |
|---|---|
| One application to see several options | Each lender sets the terms; Fundera does not control the final offer |
| Free, with a soft pull at the start | Moving forward with a lender can trigger a hard pull |
| Seven products, including SBA | Your information goes to multiple lenders; expect several calls and emails |
| Guidance on choosing | No public information on ITIN acceptance or Spanish-language support |
A good fit for: owners with solid credit and several years in business who want to compare SBA, bank and online lenders in one place, and who are comfortable reading contracts on their own.
Look at alternatives if: you only have an ITIN, you want everything explained in Spanish, your credit is low but your sales are strong, or you need an answer within hours. If you are leaning toward a bank, also read bank loan vs. online lender.
Alternatives to Fundera
| Option | Who it is for | What to know |
|---|---|---|
| Recommended funder (#1) | Businesses with steady sales that want speed and Spanish-speaking support | Reviews sales and deposits; FICO 500+; $5,000 to $5,000,000; decisions often in 2 to 4 hours; accepts ITIN |
| Bank or credit union with SBA | Owners who qualify and can wait | Usually cheaper; since March 2026, 7(a) and 504 loans require 100% U.S. citizen or national ownership |
| CDFI | Businesses with limited access to credit that want guidance | Moderate cost; takes weeks |
| SBA microloan | Small amounts to get started | Up to $50,000, per the SBA |
Merchant Fund Express, our recommended funder, looks at your sales and deposits in addition to your credit and does not require collateral in most cases. It accepts applicants with an ITIN (no SSN needed), applying is free with no impact to your credit, and it offers Spanish-speaking support. We explain how we evaluate every option in how we rank business funding options.
If you qualify for an SBA loan and can wait, it is usually cheaper than a fast option, whether you find it through Fundera, your bank or on your own. The citizenship rule comes from SBA Procedural Notice 5000-876626, effective March 1, 2026. This is not immigration advice: talk to an immigration attorney about your situation.
Which option fits your case
- You have good credit, two-plus years and want the lowest cost: a marketplace like Fundera helps you see whether you qualify for SBA or bank financing without going door to door. Also check with your own bank, which already knows your history.
- Your credit is low but you sell well: look for options that weigh your deposits, not just your score. A marketplace may show you merchant cash advances, but read the cost carefully: Fundera itself says they are among the most expensive options. Our best bad credit business loans ranking compares options that weigh deposits.
- You have unpaid invoices from business customers: factoring can be cheaper than a fast loan. Fundera includes it among its products.
- You need equipment: equipment financing, where the machine is the collateral, usually comes with better terms than working capital.
- You only have an ITIN or prefer Spanish: confirm both points before you give your data to any platform, because they are not always published.
- You need the money this week: ask each option for real timelines. An SBA loan can take weeks even if you find it on a marketplace.
In every case, decide first what the money is for and how quickly it comes back. That answer eliminates half the offers before you compare rates.
How to protect yourself on any marketplace
- Go to the official site yourself instead of following links in messages you did not ask for. Copycats borrow well-known names.
- Read who the lender is on each offer before you accept. Your contract is with that lender.
- Ask whether and when there will be a hard pull, especially if you plan to apply for other financing soon.
- Compare total cost and payment schedule, not just the approved amount.
- Never pay to apply. A serious marketplace or funder does not charge you to see options.
- Get the full contract and have every point explained before signing.
When your bank statements are ready, you can apply with Merchant Fund Express and compare its offer with anything you see on another platform.
Frequently asked questions
Is Fundera a lender?
No. Its site says Fundera by NerdWallet does not fund businesses or approve loans. It is a marketplace that connects you with a network of vetted lenders so you can compare several options at once. Approval, rate and terms are set by the lender you choose, so read each lender's contract carefully.
Does Fundera hurt your credit?
The initial check to show you options is a soft pull and does not affect your score, according to its site. If you decide to move forward with one of the lenders, that lender may run a hard inquiry, which can affect your score, and Fundera says you will be told during the formal application.
How much does Fundera charge?
Fundera says discovering your options on its platform is free. The costs of the financing itself, such as interest, origination fees or the fee on a cash advance, are set by each lender. Review the total cost and payment schedule of every offer before you accept one.
Can I use Fundera with bad credit?
Fundera says getting a loan with bad credit is possible and that some lenders accept scores from 500, with higher rates and shorter terms. If your credit is low but your sales are strong, you can also consider our recommended funder, Merchant Fund Express, which reviews your sales and deposits and considers FICO scores from 500.
Does Fundera accept an ITIN or offer support in Spanish?
We found no information on either point on its site, checked October 2026. Ask before you share your information. If you need both, Merchant Fund Express accepts applicants with an ITIN (no SSN needed) and offers Spanish-speaking support.
How long does it take to get money through Fundera?
Fundera says some lenders can approve and deposit funds within one business day. Real timing depends on the product: a cash advance or online loan is usually quick, while an SBA or commercial real estate loan can take weeks or months. Ask each lender for its timeline in writing.