Fora Financial is a lender that offers short-term small business loans with flexible requirements and terms. Its funding options include working capital loans and merchant cash advances. In this article, we cover Fora Financial reviews and pricing. Ready to get started? Get a free quote.
Fora Financial Pricing
Fora Financial pricing and rates are not published on its website. However, according to a third-party website, it offers loans from $5,000 to $500,000, with terms up to 15 months for small business loans. Interest rates range from 10% to 30% of the amount borrowed, and there is an origination fee ranging from 1% to 4%.
Interested parties may contact Fora Financial’s sales team to obtain more specific rates.
Ready to get started with Fora Financial? Get a quote.
Top Fora Financial Alternatives
Quick funding up to $250,000 from a reputable merchant cash advance lender
High revenue businesses needing funding with minimal qualifications
Low-cost merchant financing for businesses accepting American Express
New businesses with low monthly credit card sales
Comparing multiple low qualification financing options for free
Summary of Positive Fora Financial Reviews
Users who gave positive Fora Finacial reviews online remarked that its turnaround time is fast and that it provides a good funding option for business expansion. They also reported that financing is fast and that its sales team is prompt, quick, and easy to communicate with.
One user who gave Fora Financial a positive review on TrustPilot commented that it is easy to work with and that the turnaround time is remarkable. She added that it helps her business come through in times of business growth when funds are needed in a hurry.
Summary of Negative Fora Financial Reviews
As of the date this article was written (Sept. 12, 2019), there are very few up-to-date negative Fora Financial reviews online. Some users, however, commented that its interest rates are high. Others also commented that despite providing all the disclosures needed, they failed to secure a loan without any explanation.
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Fora Financial Features
Check out the list below of some of Fora Financial’s features:
- Terms up to 15 months
- Flexible payments
- Early payoff discounts
- No collateral required
- No obligation quote
- Approval not solely credit based
- 24-hour approval
- And more
Fora Financial FAQs
How do I qualify for a Fora Financial loan?
Fora Financial requires that borrowers be in business for at least six months. It also must have processed a minimum of $5,00 in credit card sales or $12,000 in gross sales.
What are merchant cash advances?
A merchant cash advance is a financing option where the lender purchases the business’ future credit card receipts, and remittance is adjusted based on how the business’ revenue fluctuates. This means that the financing is tailored to the flow of the borrower’s sales.