Fundible Business Loans Review

Written by Katie Ziraldo +1 more

Edited by Dawn Daniels

Interest rate range: 1.90% per month to 22.00% APR  Loan amounts: Up to $10,000,000  Our verdict: Fundible’s wide range of financing options combined with its lenient eligibility requirements make this lender an ideal choice for startup companies, especially if funding speed is a top priority. However, established businesses with a strong credit profile are going to be most likely to qualify for the best rates. See Business Loan Offers

Pros and cons of Fundible

Fundible small business loans review

Fundible is an online marketplace lender that leverages in-house financing and a network of third-party lenders to provide funding for small businesses that may struggle to meet the qualifying criteria with traditional banks. Fundible’s small business loan options include term loans, SBA loans, equipment financing and more.

The lender’s most popular product is its business line of credit, which offers up to $500,000 at competitive rates that business owners can use to cover a variety of expenses. Fundible’s equipment financing program also stands out, requiring no down payment and allowing borrowers to defer payments for up to 90 days.

If you’re looking for an alternative lender you can trust to provide reliable financing and customer service, Fundible may be a good choice, with an A- rating from the Better Business Bureau and 4.9 out of 5 stars with over 500 reviews on Trustpilot. However, it’s worth noting that because Fundible works with a partner network, your information may be shared with third-party funding providers that may contact you with unsolicited loan offers.

Fundible small business financing at a glance

Term loans

With Fundible’s business term loan, small businesses can typically borrow up to $2,500,000, though the most qualified of borrowers may be able to receive loan amounts of $3,000,000 or more. Terms last from 12 to 60 months, giving you up to five years to repay the debt, though there are no prepayment penalties should you want to pay off the loan early.

Interest rates vary between businesses, with most borrowers receiving rates between 10.00% and 15.00%. It’s worth noting that we got our information from a company representative; as of the time of writing, Fundible’s website displays interest rates for term loans and lines of credit as a per-month interest rate, rather than an APR.

Depending on the loan size, you may be able to receive your funds as soon as the same day you apply. Loans of $150,000 or less are usually funded in about four hours, while loans greater than $150,000 are funded in one to two business days.

Lines of credit

Fundible’s most popular loan product is a flexible business line of credit that allows businesses to borrow funds as needed up to a predetermined limit, with a maximum credit line of $500,000. Business owners can use the funds to cover a variety of business expenses, only paying interest on the funds they actually use.

Each draw from your Fundible line of credit is treated as a separate installment loan, which you’ll repay over a 24-month term. Unlike other alternative lenders that may require daily or weekly payments, Fundible accepts monthly payments on lines of credit.

If you’re applying for $250,000 or less, your line of credit may be funded the same day (usually within a few hours). Larger lines of credit will take a bit longer, typically funding in one to two business days, depending on the documentation required.

SBA loans

Fundible also offers multiple types of SBA loans, including SBA 7(a), SBA 504 and SBA Express loans. Depending on the specific type, SBA loans can be used to purchase and renovate property, finance equipment and consolidate business debt. 

Fundible is not an SBA Preferred Lender, so it could take as long as two to three months to process and fund your SBA loan. However, while many SBA lenders require businesses to be in operation for two to three years, Fundible has more lenient requirements, offering SBA financing for businesses after just six months in business.

Bridge loans

If your business needs quick, short-term financing to overcome cash flow gaps or take advantage of a limited-time business opportunity, a bridge loan may be able to provide the funds you need while you search for more affordable, long-term financing options. 

Fundible’s bridge loans offer up to $1,000,000 in working capital, but repayment terms max out at 24 months, so you’ll want to be careful to avoid borrowing more than you can afford to repay in a short period of time. While other products may require higher credit scores, borrowers can qualify for a bridge loan with scores as low as 580. These loans are typically funded in one to two business days, though bridge loans of $250,000 or less may be funded in as little as a few hours.

Equipment financing

If you need to purchase or upgrade business equipment, Fundible offers 100% equipment financing, allowing you to finance the full cost of essential equipment without making a down payment. Equipment loans offer up to $500,000 with standard repayment terms from 12 to 60 months, though terms up to eight years may be available on request for borrowers with good credit.

You can apply for equipment loans of $75,000 or less with no documentation required — just your basic business information and an invoice proving the value of the equipment you’re looking to purchase. Applications for equipment financing over $75,000 will require more documentation. Regardless of the amount you’re looking to borrow, Fundible’s equipment financing comes with the flexible option to defer payments for 60 or 90 days.

Invoice factoring

If you’re sitting on unpaid invoices, you may be able to secure business financing without taking on extra debt. Fundible offers invoice factoring, which allows you to essentially sell your unpaid invoices for a cash advance. The amount of funds you can receive depends on the value of the invoice.

With invoice factoring, Fundible allows businesses to access up to 90% of any invoices that are due to be paid in the next 90 days. The cash advance acts much like a line of credit, allowing businesses to withdraw what they need, when they need it.

Once your customer pays, Fundible will send you the remaining invoice balance minus factoring fees. These typically cost around 0.25% for each week the invoice went unpaid. Because Fundible makes their money by collecting invoice payments on your behalf, approval for invoice factoring will be based on your customer’s creditworthiness.

Fundible borrower requirements

In general, you’ll need to be in business for at least six months with an average monthly revenue of $8,000 or more to qualify for Fundible financing. However, some loan programs have stricter criteria than others. 

Minimum credit score requirements depend on the type of loan. To get a business term loan, you’ll need a personal credit score of 650 or higher, but bridge loans and lines of credit are more lenient. And with invoice factoring, your customer’s creditworthiness matters more than your own.

Term loans, bridge loans and lines of credit may be unsecured or secured with a UCC filing, depending on the borrower. A Fundible representative told LendingTree that collateral decisions are made on a case-by-case basis, with roughly 50% of loans being secured.

Required documents

The specific documents you need to apply for a Fundible business loan will depend on the loan type and loan amount. For example, equipment financing under $75,000 will require you to provide only basic business info and a valuation of equipment, while financing over $250,000 will require detailed business financials.

To learn more about the required paperwork, you’ll need to contact the lender directly.

Alternatives to Fundible

Fundible vs. Taycor Financial

If you’re attracted to the wide range of loan options offered by Fundible, you may also want to consider business financing from Taycor Financial. The lender offers a similar portfolio of products, with some offering higher loan amounts. For example, while Fundible’s equipment financing only goes up to $500,000, Taycor Financial offers equipment loans up to $5,000,000. 

Though qualifying criteria will depend on the type of loan you’re applying for, both lenders are generally willing to work with startups and bad credit borrowers. However, some of Taycor Financial’s business loan options charge a factor rate, which can make it difficult to understand the cost of borrowing at first glance. To compare loan options between lenders, it’s recommended to convert factor rates into flat interest rates.

Fundible vs. U.S. Bank

If you’re looking for an SBA loan, working with an SBA Preferred Lender like U.S. Bank could expedite the process and shorten your wait. U.S. Bank was one of the top five SBA lenders by approved loan numbers in 2024, offering multiple types of SBA loans, including SBA 7(a) and SBA 504 loans.

Aside from government-backed loans, the bank also offers a variety of business loans and lines of credit, including secured options for borrowers who may struggle to qualify for financing without collateral.

However, it’s worth noting that U.S. Bank does not disclose the minimum credit score, time in business and annual revenue you’ll need to qualify. As a traditional bank, it’s likely these requirements are stricter than those offered by online lenders like Fundible. For this reason, Fundible is likely a better option for startups and low-revenue businesses, while U.S. Bank may be best for established businesses.