Fundation is a lender that partners with banks and financial institutions to offer working capital and small business loans. Its services include term loans, lines of credit, point of sale financing, and referral programs. In this article, we cover Fundation reviews and pricing. Ready to get started? Visit its website.
Fundation pricing for business loans is based on the risk, loan amount, repayment term, and payment frequency. It offers two types of loans: lines of credit (up to $150,000) and term loans (up to $500,000) with risk-based interest rates.
Lines of Credit
Up to $150,000
Once per month
Up to $500,000
Twice per month
Ready to get started with Fundation? Visit its website.
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Summary of Positive Fundation Reviews
As of the date that this article was written (September 16, 2019), there are not many positive Fundation reviews available online. However, some users said that they were quickly able to receive their loaned funds. If you are a past or current Fundation client, leave a review to help other business owners who are deciding whether or not to use the company.
Summary of Negative Fundation Reviews
There are very few negative Fundation reviews available online as of this writing. One user, however, complained that it has high-interest rates.
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Check out the list below of some of Fundation’s features:
- Outsourced lending programs
- Point of sale financing
- Referral programs
- No prepayment penalties
- And more
How does Fundation determine loans’ interest rates?
Fundation determines the loan interest rates by evaluating the borrower’s business stability, credit history, financial metrics, cash flow, and debt. For business stability, the lender examines its cyclicality, seasonality, years in business, and more. For financial metrics, it looks at revenue, growth, and profitability, among others.
Are collaterals required for Fundation loans?
No specific collaterals are required for Fundation loans. Instead, for term loans, the lender requires a personal guarantee from the borrower, as well as a Uniform Commercial Code-1 (UCC-1) on business assets.