What Is Fora Financial?
Fora Financial is a fintech lender that offers merchant cash advances and short-term loans to small businesses. The company offers loans between $5,000 and $500,000 that can be available in up to 72 hours to those that are eligible.
Following a free online quote, Fora Financial is ready to lend capital with up to 15-month terms and without the need for collateral. What’s more, and what really sets this lender apart from others, is that it only takes 24 hours to gain approval, and early payoff means you’ll get discounts on your remaining balance. From construction to hospitality, a range of industries can benefit from lending here.

Fora Financial Loan Features
Fora Financial lets you use your loan however you need it. Whether it’s equipment that needs repairing or it’s time to enhance new services and products, you can secure up to $500,000 within 72 hours and just 24-hour approval. Its short-term loans range between four and 15 months, which might be too short for some, but merchant cash advances don’t come with fixed-term repayments.
Fora Financial small business loans come with some charges and an interest rate factor between 1.1 to 1.3.
Fora Financial Short-Term Loans
Fora’s short-term loans are best suited to solving immediate cash flow gaps as well as responding to any emergency financial issues. With borrowing amounts up to $500,000, they’re also ideal for business development and for growing your infrastructure.
Term Length
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4-15 Months
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Repayment Period
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Monthly
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APR
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Varied
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Min-Max Amount
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$5,000-$500,000
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Fora Financial Merchant Cash Advance
A Fora merchant cash advance is a lot more flexible than the alternative as it’ll allow you to borrow against future card sales. The borrowing amounts are the same but you’re not bound to strict terms like you are with short-term small business loans.
Term Length
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N/A
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Repayment Period
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Monthly
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APR
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Varied
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Min-Max Amount
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$5,000-$500,000
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Fora Financial recently announced a new credit facility - with Credit Suisse and Hudson Cove in order to enhance its services. This means even better access to small businesses and an increase in borrowing capacity up to $150 million.
Fora Financial Interest Rates and Fees
Some fees come with Fora Financial loans, which means they’re possibly not for everyone - this really depends on what you can afford in terms of repayments. Really, though, where this lender thrives is short-term funding and helping businesses meet short-term capital requirements. The access to quick funding, large lending amounts, and fast approvals is the perfect trade-off to grow your business and meet goals without other departments and your development plans taking a hit.
Short-Term Loans Rates and Fees
Borrowing Fee
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10-30% Of The Loan
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Origination Fee
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Up to 2.5%
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Late Payment Fees
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$35
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Interest Rate
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Factor 1.1 - 1.3
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Early Repayment Discounts
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Yes
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Merchant Cash Advance Rates and Fees
Borrowing Fee
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10-30% Of The Loan
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Origination Fee
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Up to 2.5%
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Late Payment Fees
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$35
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Interest Rate
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Factor 1.1 - 1.3
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Early Repayment Discounts
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Yes
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How To Qualify for a Fora Financial Loan?
One of the things that sets Fora Financial apart from the competition is that it looks at much more than your credit score and your business’s credit score when deciding whether it will approve your loan application.
Your business’s financial situation, including its revenue and time in business also play a significant role in your ability to qualify.
Criteria
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Small Business Loan
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Merchant Cash Advance
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Minimum Credit Score
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Not disclosed – no open bankruptcies
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Not disclosed – no open bankruptcies |
Minimum Annual Revenue
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$12,000
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$5,000 minimum in credit card sales |
Minimum Time in Business
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6 months
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6 months |
Fora Financial Application Process
Applying for a loan from Fora Financial is easy. The company has a one-page application that takes just minutes to fill out. If you’re applying for a term loan, you’ll have to provide three months of bank statements along with your application. If you want a cash advance, you’ll have to provide three months of credit card statements.
You can apply for the loan directly online.

Once you fill out the form, you’ll have to wait for one of the company’s specialists to give you a call. Alternatively, you can call to get quicker support.

Fora Financial also has a referral program that you can use once you’ve applied. If you refer another business that gets a loan, you’ll get up to $500 as a bonus. You can get that amount in cash or use it to pay off your loan balance. You can even refer a friend even if you don’t own a business.
Fora Financial Customer Support
Fora Financial offers a few ways to get in touch with support.
Once you fill out an application, you’ll get a call from one of the company’s loan specialists within 24 hours. If you’d rather reach out directly, the company’s contact page lists phone numbers and extensions for sales inquiries, customer service, and other departments, though it does not list operating hours.
You can also submit a request form to request a call back if you have specific questions and don’t want to call.
Customer reviews for the company are positive, so you can feel confident that you’ll be treated well when you with Fora Financial.
Trustpilot rating: 4 out of 5 (Great)
Better Business Bureau rating: A+
Fora Financial Loan Reviews
Fora Financial earned its positive reputation among borrowers for various reasons. Aside from its responsive customer support, Trustpilot reviews are filled with positive experiences relating to just how efficient the loan process is. People in need of fast financing are able to get it through Fora which means the lender holds up to its promises on quick turnarounds.
Another notable trend found in Trustpilot reviews is just how simple the lending process actually is. There are only several parameters your business needs to meet in order to get a loan, which should be relatively easy enough for most small businesses to achieve. Many reviews highlight how Fora is the one lender that was prepared to fund their business development plans when no other company would, so it’s definitely worth giving this one a try if you’re in a similar position.
The positive reviews are related to
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The negative reviews are related to
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Excellent Customer Service
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Slightly High-Interest Rate
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Quick Turnaround On Loans
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No Online Portal
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Its Very Simple Lending Process
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Too Many Emails
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Fora Financial actually does have an online portal, but not everyone utilizes it. Moreover, in situations where Fora doesn’t lend the capital and broker the deal to another lender, they can’t control if that lender has a portal or not.
Fora Financial Perks and Bonuses
One of the top reasons to work with Fora Financial is its highly flexible lending policies. There are also other perks to working with the lender.
Flexibility:
One of Fora Financial’s main draws is that it is a flexible lender. You can get apply for a small business loan for as little as $5,000, giving smaller companies a way to get the funding that they need. At the same time, larger businesses can get loans for up to $750,000, making Fora Financial a lender for all types of businesses.
The company also has flexible loan approval terms, which can be appealing to borrowers with less than perfect credit.
Transparency:
Fora Financial is transparent about some things, but opaque about others.
When it comes to the requirements for getting a loan, they are clearly published on Fora Financial’s website. Thankfully, the requirements are easy to meet. Have six months in business, a small amount of revenue, and no open bankruptcies.
Where the company isn’t transparent is in the amount it charges for loans. You can’t see rates or fees on the company’s website until you fill out the application and get a quote from a lender. That means it takes more effort to comparison shop and make sure you’re getting a good deal.
Technology:
Fora Financial’s one-page application makes it very easy to apply for loans. The fact that you can get a quick approval by uploading a few months’ bank or credit card statements is also a plus.
However, once you apply the process becomes a bit lower-tech. You’ll have to wait for a call from a lender to get your loan offer. Additionally, the company doesn’t have a mobile app that you can use to manage your account.
Final Thoughts
Fora Financial is no doubt one of the better options out there for small businesses looking to get their hands on capital fast. With funding in no longer than 72 hours and up to $500,000 available, those plans you have for expansion or developing new products are a lot closer than you think. Plus, unlike many other lenders, early repayments actually earn you discounts, rather than penalties.
Sure, you’re likely to pay an origination fee and you’ll be charged for late payments, but there are few options out there that give such quick access to funding and with such high amounts.