Fundation Review

Fundation Review

Fundation is a trusted provider of diverse credit solutions.  It has created a platform for lenders and other financial institutions can offer growth capital and working capital to owners of small business. Its partnership with a range of capital lenders makes it easy for businesses to acquire capital whenever they need it. Fundation is quite flexible with offers that include simple referral programs, point of sale financing, and outsourced lending programs.  

While Fundation hopes to make it easy for small businesses to acquire funding, it also ensures that the entire process of lending is profitable for the investing banks. As such, both lenders and borrowers get to grow their revenue easily.  

What type of funding does Fundation provide?

Business loans 

Highlights

requirments_icon1Loan Amount
Loan up to $500,000

Terms
2 or 4 years

Fund received

Rates: 7.99% per annum. Repayment period: 1-4 years 

What do I need in order to qualify for funding?

You will need a few things to qualify for funding: 

  • Credit score of 660. 
  • Yearly revenue $100,000 
  • 3 employees 

How do I apply to get funding?

To apply for funding, follow the following steps: 

Step 1: Provide your business’s basic information 

Step 2: Provide information about your business’s industry 

Step 3: All your business information will be reviewed review all the provided information. 

Find the right funding for your business

What is the process to receive funding?

After approval, the money is send to your account as soon as possible. 

Does Fundation run a credit check? 

Yes 

Do I have to provide security or a guarantee? 

No 

Are there fees involved? 

  • Cost of funding: 8%-30% APR 

What are the loan rates? 

The loan rates 7.99%  

What documentation do I need to provide? 

You will need to provide documents to prove the ownership of the business, the financial position of your business and its credit score such as the Tax ID number of your business, bank data, and your social security number. 

How long will it take for money to get into my account? 

In general, applying and receiving funds is fast; you get your money after 3 days. 

What happens in the case of a default? 

Fundation works towards recovering the loan amount, with an interest by assigning your account to a collection agency. 

Is Funding Group regulated? 

Yes