It seems that small businesses have having great success with Fundwise Capital for their small business funding needs. Small businesses are popping up at a rate unseen these days. Especially in the digital space, as we are seeing more entrepreneurs than ever venturing out on their own to provide their expertise in every niche imaginable. With business startups comes the need for capital and funding and that is where Fundwise Capital comes in to meet that need head on and provide valuable solutions for any size business.
The specifics on startup lending offerings can very greatly from company to company and most traditional banks and credit unions can take weeks or months to get you the funds you need to get your business of the ground. Fundwise Capital is different; they have a stream-lined process of getting approvals fast with amazing terms so that a small business can have quick success early.
In this review, I will covering a front runner in online business funding: Fundwise Capital. I will give a background on the company, the pros and cons of going with an online funding company, and my final thoughts on why I know small businesses have having success with Fundwise Capital for their small business lending needs.
Who is Fundwise Capital?
Fundwise was formed with a commitment to provide quick and easy financing options for small businesses and startups. Their goal is to help small businesses achieve their full potential by providing them the necessary funding they urgently need to get their feet off the ground.
In addition to offering multiple financing options, they also provide you educational and mentoring support for best utilization of the financing you have secured.
Pros/Cons of online funding vs local bank loans
Pros:
- Super quick application process you can do from the comfort of your home or anywhere with internet
- Lean process with no middle man and little documentation necessary
- Funding is extremely quick with most applicats receiving funds within 14 days of approval
Cons:
- Lack of relationship or one on one contact
- No brick and mortar location that you can sit down to talk face to face
- They don’t typically offer other products like checking/savings like a local bank can.
Success with Fundwise Capital Comes to The Funding Process
Fundwise has four steps you go through when starting the funding process:
- You go through their quick online application
- If pre-approved you have a phone consultation to determine the type of funding option that would be best for your needs.
- You get fully approved and get funded! Their team will walk you through every step of the approval process from start to finish.
- Post funding they offer specialists to speak with to determine the best way to utilize the funding your received in an appropriate manner for your business goals.
Fundwise Capital offerings
Fundwise Capital offers four main types of funding options depending on the business need:
- Business Startup Loans – For entrepreneurs looking to get their idea off the ground and into the marketplace.
- Small Business Loans – For existing small businesses needing additional capital
- SBA loans – For businesses looking to expand operations
- Real Estate Investor Financing – For real estate investors needing capital to fix and flip or hold and rent out properties.
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Prior Customer Reviews:
Fundwise Capital Partner Offering
Another unique aspect of Fundwise Capital is their Fundwise Partners program which you can find an in-depth review of it here.
Why it is unique is that literally anyone can be a partner in the program with only surface knowledge of the products Fundwise offers needed. (which they train you virtually on) Typically the individuals who do the best as a Fundwise Partner are those close to small business owners or investors. Professionals like CPAs, Attorneys, and such can do well referring their clients who need funding to their Fundwise Partners lending portal.
That being said, if you are looking for a side hustle with little upfront costs and are interested in the lending niche, then this program might be for you! Check out our in-depth review article first so you can get a feel for the program and make sure it can be a right fit.
>>Check out our #1 “side hustle” review here!>>
Final Thoughts
With new small businesses starting up every single day around the world, Fundwise Capital seems to have found a need and is succeeding at fulfilling it.
From the glowing reviews to the multiple products and their streamlined, simplistic process I would definitely recommend Fundwise Capital for your next business or real estate funding needs!
Yes, I have seen online business springing up everywhere these days. Specially during the pandemic. I am glad that there are funding options that are fast and effective. I feel that the pros prevail over the cons. But the lack of person to person relationships and contacts is something that we need to deal with.
You’re right the pandemic really did push online business to the forefront especially in areas that were heavily traffic in person like retail and banking. I do think there are some instances where the person to person relationships can still make sense, however, for business funding as a business owner myself I feel that quicker and less costly I can get funding for my business the better. I would happily give up an in person relationship for the speed and cost savings.
Wow! I wish Fundwise Capital had of existed back when I first started a business. I had to go through the banking system and the whole procedure took nearly two months, plus they wanted my home as collateral. I nearly had to prove that I didn’t need the money. I love the way you can simply apply online and have an answer in a very short time frame. This takes the stress and pressure away when starting a new business, leaving the new entrepreneur more time to get to work on setting up their new business. It’s good to hear that they also provide funds for established businesses, this is something that would interest me so that I could take my own online businesses to the next level.
Thank you providing us with this helpful information. Jim
Thank you for your comments Jim and that is exactly what intrigued me about Fundwise Capital was the streamlined process they provide and quick turnaround so you can get your business up and running quick! Especially in these pandemic times, the quicker you get your funding the better!
I had my concerns in the lead up to financing my own small business, but with the levels of competition these days its difficult to gain a competitive edge without financial backing, and a company like Fundwise Capital sure do seem like the frontrunners when it comes to trusting a reputable source to fund my business.
In trying to manage my loan, I fear that I may struggle to get customized attention should I require, how could I deal with this should I choose to make use of their services?
That’s a great question and why Fundwise is different than traditional lenders and brick and mortar banks. Of course there is still minimum credit requirements but otherwise you do not need a proven track record of a current business to get funding. They take people who have never owned a business but have a great idea and want to turn it into a business and Fundwise provides them the capital to make that dream a reality!