Fundera Passes $500M in Loans Funded to 8,500+ Small BusinessesNovember 1, 2017 | By: Press Release
(New York, NY–Nov 1, 2017) – Fundera, the trusted advisor and online marketplace for small business financing, today announced that it has surpassed the $500 million mark in loans funded to over 8,500 small businesses on its platform.
Fundera’s platform allows small business owners to apply to a curated network of 25-30 lenders in the industry with one easy common application. Small business owners come to Fundera for all of their financing needs, from credit cards to SBA loans and everything in between.
“It’s about more than just saving time and money for the small business owner,” said Jared Hecht, CEO and cofounder of Fundera. “At Fundera we’re truly able to become a partner in these businesses’ financial decisions. Our goal is to use our resources and technology to educate small business owners on their credit eligibility, improve their creditworthiness over time, and help them graduate into better and better financing products.”
Fundera replaces small business loan brokers with software and algorithms, making the process faster and easier to navigate. The average loan size on Fundera’s platform is about $60,000, and although no single industry accounts for more than 10% of Fundera’s customer base, the most popular industries include ecommerce and retail.
Since launching in 2014, Fundera has raised over $20M in equity financing.Last modified: November 1, 2017