Behind the Scenes: Fundera’s 1st Year in Review
The story of how Fundera came to be is simple: my cousin, the co-founder of Fusian, runs a successful restaurant. In 2012 he told me that he was unable to secure a bank loan. I was in shock – he had two locations, both of which were profitable and successful. It didn’t make any sense. I began to look further into the issue and noticed that his problem was not unique – millions of inspiring business owners like him were being rejected by banks.
I started to research what his options outside of banks were and stumbled into the world of “online,” or “non-bank” lenders. They seemed like a viable option to fill the void left by banks, but as I tried to research specific lenders that would suit his needs, I found the process to be impossible. Google “small business loan” and every advertisement says the same thing with identical value propositions. It was a space filled with potential, but stifled by the fact that it was incredibly difficult to navigate. If we couldn’t determine what made a lender or product different from one another, we thought that most business owners would experience similar frustration. And that’s where Fundera was born.
My co-founders and I set out to turn the idea of Fundera into a reality: a one-stop-shop for small business owners to find the right kind of working capital. With one application, business owners can apply to and receive offers from multiple lenders across more than 8 types of products, ensuring they get the lowest cost loan in the fastest amount of time.
We had one goal: make it dead simple for business owners to get the capital they need to grow. On February 5th, 2014 we launched Fundera, and on our first anniversary today, we are proud to say we are on our way to accomplishing that goal. As you can see in our year review below, we’ve already helped hundreds of small business owners easily and quickly secure the capital they need, and we’re just getting started.
Fundera is growing every day, evolving our product to further our mission and best support customers. It’s an incredible time for our company.
We are fortunate to interact with entrepreneurs everyday who inspire us with their ambition and dedication. After one year, we’re proud of what we’ve accomplished and thankful to those who helped us get here. But, this is just year one of many, many more to come, and as we continue to grow Fundera we will remain laser-focused on helping more small business owners access the capital they need to grow and building our company to be the most trusted provider of capital to small businesses.
Latest posts by Jared Hecht (see all)
- We Partnered with Hiscox to Make Insurance & Financing Easy - September 28, 2016
- State of Small Business Lending: Spotlight on Women Entrepreneurs - September 6, 2016
- PaySimple and Fundera Partner to Make Business Financing More Accessible - May 5, 2016
When This Entrepreneur Lost 100 Pounds, He Knew His Coconut Business Would Succeed
Meredith Wood / Sep 9, 201615
Looking for Success? Try One of The 5 Most Profitable Industries
Meredith Wood / Feb 10, 20166
Here’s What Donald Trump Has to Say About Small Business
Meredith Wood / Oct 14, 20165
Nervous About Selling on Amazon? Don't Worry. Here's How to Do It.
Meredith Wood / Aug 19, 20154
12 Reactions to Turning a Profit for the First Time
Meredith Wood / May 2, 20164