Fundation is a direct lending company that offers up to $150,000 for working capital loans and up to $500,000 in business expansion loans. It is suited for small businesses that require a working capital to maintain their uneven cash flow or are looking for an expansion. However, to qualify for Fundation’s loans, your business must have a tracking history of at least 2 years and you must have at least 2 full-time employees working for you. The company offers competitive interest rates and claims that 85% of their customers qualify for APR’s under 20%.

Fundation’s loans are best suited to cover short-term costs such as small inventory purchases and payrolls. These loans have a term duration of 1 to 2 years; however, if you have financial needs that will require you longer to pay back, the company also offers a term duration of up to 4 years. The APR ranges from 7.99% to 25%, and funds can become available to you in as little as 3 days once your application is approved. Upon applying for a loan, you will be connected with a Fundation employee who will guide you throughout the application process and will answer any questions you have. After 6 months or 9 months depending on your term duration, the company lets you borrow more if you have been paying regularly. Compared to other small business loan providers, Fundation’s application process is a bit complex and the company charges an origination fee of up to 3% on your loan. The company’s services are available nationwide and apart from the origination fee, there are no extra or hidden charges.

Fundation is not the best choice for businesses that are relatively new since the company requires your business to have a tracking record of at least 2 years. You also need to have at least 2 full-time employees to qualify for their loans. It may not be a good option for new businesses or sole proprietors. Fundation’s application process is time-consuming as compared to other companies in the business. It is a relatively new company and not many reviews are available about them on the internet. The company also requires repayments more frequently than many other similar businesses, i.e. it deducts repayments from your bank account twice a month whereas many other loan providers require monthly repayments.