Is Fundo Legit?
Fundo LLC is a legal financial services company established in 2019, based in North Miami, Florida. It protects your information using 256 -bit encryption, examines its daily site for harmful programs and maintains high standards of cybersecurity. It has a clear and detailed privacy policy that explains how to use it and share your information, which can be displayed on its website. Fundo was approved by Better Business (BBB) office with B.
What makes Fundo Shine?
Compared to other companies that offer MCAS, Fundo has more leniency requirements. For example, some lenders in this area require $ 10,000 or more of the monthly revenue, while Fundo is just asking about bringing at least $ 1500 per month. In addition, you only need to be at work for three months.
Fundo offers a good amount of the flexibility of payment as well, which is useful if you have a slow week. It allows you to transfer your payment date until six days of the scheduled batch whenever you need. You can also reduce your installment amount to three times during the progress period without a financial review – more than that and will require a review. You may also be able to skip one or more payments until the end of your progress, waiting for a financial review.
It is also great for Fundo to consider the progress of independent workers, party workers and contract workers as well as small companies. It may be difficult to qualify for financing when you have an inconsistent income, so Fundo opens another option for workers for their own account.
Where Fundo is shortened
The main disadvantage of Fundo is that it is a very expensive form of financing. It receives factors rates instead of interest, and the rates range from 1.7 to 3.5, which is high compared to the similar similar cash advance lenders that usually have factors rates from 1.1 to 1.5.
To put this in the right quorum, if you borrow $ 5,000 at a rate of 1.7 for 10 weeks, you will have to pay $ 8,500. Using the same example, with a 3.5 and 30 -week agent rate, you will get $ 17,500.
Fundo offers early payment discounts, but they are still very expensive. Fundo agent explained to us how these discounts work – while evacuating the responsibility that is subject to changes, and this is just an example. If you borrow $ 5,000 for 10 weeks, the weekly payment will be $ 850. If you pay it after only four weeks, your balance will reach $ 3,855, which means that the loan will cost you $ 7,255. It will save about $ 1,200 for payment early, but the loan still costs you $ 2,200.
It is better to consider some alternatives before resorting to this high -cost financing.
Fundo loan details
| The minimum credit/credit range | There is no minimum credit degree |
| Factors rates |
|
| Loan | $ 500 to 10,000 dollars |
| conditions | From 10 to 30 weeks |
| Approval | Approval in minutes, financing on the same day is possible |
| Availability | Not available in: California, New York |
| expenses |
|
| Other fees | Unveiled |
Fundo contact information
| Phone number | 866-393-8636 |
| Customer service hours | The days of the week from 9 am to 6 pm East time |
| Support@fundo.com | |
| Q, previously Twitter | us |
| Fundo llc |
How to qualify for Fundo
Fundo has the minimum requirements to qualify.
- Three months at work
- The average monthly revenue is at least $ 1500
- The bank account that connects to the engrave or the logic of the decision
- No bankruptcy
How to apply
Apply for Fundo MCA should be fast and easy.
- Fill the app on the Internet.
- Complete the bank verification.
- Wait for Fundo to be achieved from the date of your treatment.
- Receive your money if approved, which may arrive on the same day.
In some cases, Fundo says it may be able to obtain approval without speaking to a customer service representative. However, this may require the verification interview awaiting final approval, which can delay funding.
How to compare Fundo to other lenders
What is the degree of the researcher?
Finder Score creates 12+ types of business loans across 35+ lender. It takes into account the interest rate, fees and features of the product, as well as the type of loan, for example, the investor, the variable, the fixed rate – this gives you a simple degree of 10.
To provide the result, we compare the similar loans. So, if you compare the best work loans for emerging loans, you can see how all commercial loans accumulate in exchange for other business loans in the same type of borrower, price type and type of payment.
Read the collapse of the complete researcher’s degree
Fundo reviews and complaints
| BBB certified | Yes |
|---|---|
| BBB classification | for |
| BBB customer reviews | 3.13 out of 5 stars, based on 82 reviews of customers |
| TrustPilot degree | 4 of 5 stars, based on 427 customer reviews |
| Customer reviews have been checked as of | January 14, 2025 |
Fundo has mixed reviews on its BBB page, where some customers said that the process was fast and easy and that customer service was friendly and professional. But it has a lot of bad reviews, including complaints related to high prices, taking unauthorized payments and a feeling of impulsion to sign the agreement.
It contains a higher volume of positive reviews on TrustPilot, where customers extend to excellent customer service and express their gratitude for approval after the other lenders rejected their requests. But customers also complain of APRS in the triple numbers, high treatment fees and additional fees to receive money quickly.
What do people say on Redit?
We could not find any related conversations about Fundo on any Reddit threads.
Insights for Fundo MCAS
If you decide to offer expensive Fundo Cash or want to explore your options, think about these alternatives.
- Commercial credit cards. Commercial credit cards are usually easier to qualify than other types of financing-even if you work for your own account-and prices are much better than Fundo’s, but access to cash is limited.
- Personal loans. Using a personal loan to finance your business is very common and provides higher loan amounts than Fundo, but you will need a good credit to qualify to get the best prices.
- Cash advance applications. For workers for their account and party workers, cash advance applications can provide small progress between deposits, but they are not appropriate if you need more than $ 500.
- Funding the payment processor. If you receive payments through platforms like PayPal or Square, you may be able to access funding based on your sales, although revenue requirements are higher than Fundo.
Related questions
What is Fundo’s cash advance?
It is an introduction batch based on your future business revenues. Fundo evaluates your money and decides the size of the progress you qualify based on the amount you bring every month. Technically, progress is not a loan – it considers buying your future revenues.
What is the credit you need for Fundo?
Fundo does not check your credit, so your credit is not a factor in determining approval. Instead, he analyzes your business financing to see if you can withstand progress.
