NEW YORK--(BUSINESS WIRE)--Fundera, the free marketplace for small business loans, today released its two year anniversary report revealing the company’s growth to date. Since launch, Fundera has facilitated approximately 2,200 loans totaling over $115 million in funding to small businesses. At this time last year, Fundera had helped 300 small businesses secure just over $12 million in financing. Now, after its 2nd full year, Fundera has serviced 7x more small businesses, facilitating 10x more in funding.
The report also includes information on the Fundera experience, such as fastest time to funding and average loan size, which are 10 minutes and $52,000 respectively. In addition, the report explores the demographic data of Fundera customers including industry, number of employees, time in business, location, business owner age, and loan purpose.
“Our customers are the smartest, hardest-working people we know. It’s very satisfying to recognize we’re making running their businesses that much easier through our marketplace approach to financing,” said Jared Hecht, CEO and co-founder of Fundera. “We’re proud of the growth, but there’s still a lot to be done in the transformation of the small business lending industry.”
In addition to record growth, 2015 was a landmark year for Fundera. The company created an industry-wide coalition to establish a Borrower’s Bill of Rights to protect consumers from predatory lenders and increase transparency in the lending industry. This year, the company hopes to advance this pledge with the continued release of quarterly “State of Online Small Business Lending” reports, which aggregate internal loan data. Fundera will also continue to expand its product offering, as shown by the announcement, found here, of American Express Charge Cards and Credit Cards to the Fundera experience.
Fundera launched in 2014 with the intent to bring more transparency to the online lending industry. Its service enables small business owners to apply to online lending industry’s top small business lenders with one, simple application. Throughout the process, business owners work with a loan consultant, helping them understand their options and compare offers, ensuring they walk away with the best deal. Learn more about Fundera’s growth and access its report here.
About Fundera
Fundera is the most trusted online marketplace that connects small business owners with the best funding providers for their businesses. Fundera was co-founded in 2013 by GroupMe co-founder Jared Hecht and successful software entrepreneur Rohan Deshpande to bring transparency, accountability, and fairness to the online lending industry. The company has raised $15 million from Susquehanna Growth Equity, QED Investors, Khosla Ventures, First Round Capital, Lerer Ventures, SV Angel, Box Group and angel investors Aaron Levie, Scott Belsky, Strauss Zelnick, and David Rosenblatt, and is based in New York City.
To learn more or get started on a loan application, please visit www.fundera.com.
