Funda Review

This review of Funda will help you to better understand the Australian SME lender, Funda business loans. We look into the history of Funda, including when Funda launched and the growth it has enjoyed. We delve into the different lending solutions offered by Funda and we understand what’s required for businesses to be eligible for a Funda business loan. Read on for the full Funda review and learn if they’re a good fit for your financing requirements.

🌐 Website:
®️ Logo:Funda new logo
📝 ABN:14 161 568 994
📝 Credit License:437240
💰 Loan Amount$5,000 – $300,000
⏲️ Loan Term3 months – 5 years
💸 Unsecured Loans?Unsecured Loans are Available
⌚ Lender Requirements
  • Registered for at least 12 months
  • Trading for at least 6 months
  • $10,000 monthly turnover
  • GST registered
📃 Required:Driving License Number

Your ABN Business Number

⏱️ Response Time:Assessed within 24 business hours
🌝 Easy to Apply:Yes, fully online (expedited application here)

The Nitty-gritty

💌 Online Reviews:None found online
🏆 Awards and Recognition:None to date
💳 Minimal Interest Rates:Starting at 7.26% per month, Funda believes this is up to 50% cheaper than other non-bank lenders
⚖️ Advantages
  • Loan Assessed in 24h or Less
  • Wide Range of Loan Amounts
  • Line of Credit and Asset Finance Enabled
⚖️ Disadvantages
  • Fairly Small and Unknown
  • No Verified Client Reviews
⚖️ Compare FundaCompare Funda with 20+ Australian Lenders on
Review Table of Contents
Overall Rating: ⭐⭐⭐⭐

Company Story & Credibility

Funda Business Loans (originally called Fund Finance Partners) has a bold vision for small and medium sized businesses in Australia. Funda aims for a future where SMEs can take back control from lenders feasting on their assets. Where business owners are free to focus on growing their business and spend less time on raising capital. Funda is acutely aware that if someone starts their own business, it’s because they love their trade, not because they love dealing with complex financing arrangements.

Based in Newcastle, Funda is a finance company that’s only focused on small business. Operating nationally, the firm has been around since 2013 offering small business loans and helping clients cover their outstanding invoices.

Funda sets out to be a finance partner, not just a lender. By offering faster access to loans with fairer terms (including borrowing for up to five years) Funda has policies and practices that stem from their core values – to help businesses reach their potential.

Funda was co-founded by Nathan Wright and Mark Owen. Nathan Wright is the CEO of Funda. As a leading finance partner in Australian business lending, Nathan is responsible for Funda’s innovation, strategy and investor relations. An experienced company director, with a background in finance, Nathan understands the needs that small businesses have for faster and fairer funding options.

In July 2020, Funda rebranded from “Funda Finance Partners” to “Funda Business Loans”. As an organisation that likes to get straight to the point, Funda felt the change of name would provide more clarity as to what Funda does and the reason they exist. However, since this time, Funda has seemingly cut back quite drastically on the number of financing solutions it offers (more on this below).

Credibility Score: ⭐⭐⭐⭐ 

What Finance Options Do Funda Offer?

Having previously offered a variety of 5 different types of lending solutions that included business loans, low doc loans, invoice finance and a line of credit, it seems Funda is now narrowing its focus. As of July 2023, the only lending solution that you can navigate to on Funda’s website is asset finance. It does appear, however, that they have expanded their asset finance solutions.

Funda do still have a business loans page live, that you can access via Google, although seeing as this is no longer part of the main site navigation, it’s unclear whether or not this is still a service Funda are offering. Their most recent social post regarding a business loan service was 11 months ago, which was then followed by a 10 month social hiatus. This post seemed to reintroduce Funda and mentioned asset finance, which is consistent with their website and would seem to suggest the Business Loans may in fact no longer be an active offering.

Asset Finance

Funda can provide finance for a wide range of assets including; equipment finance, business vehicle finance and construction finance. Both leasing and chattel mortgage arrangements are available for the finance of company vehicles.

Funda’s business asset loans carry an interest rate starting at 7.26% per annum, with balloon payments acceptable. If you’re financing vehicles, these can be more than 15 years old at the end of term. Funda will also offer discounted rates subject to credit and are happy to compare the total cost of funds against any other quotes you have.

Product Score: ⭐⭐⭐⭐ 

Funda Client Reviews

In Numbers

  • TrustPilot Australia: 0 reviews
  • Facebook: 26 reviews – 4.8/5

The Feedback

There are no Funda reviews that can be found on any of the major review platforms. You can hear testimonials from Funda’s customers on their website but as you would expect these are resoundingly positive.

We still feel you can get a good feel for working with Funda and what the process would be like.

There are some reviews that we’ve been able to take from Funda’s facebook page:

“Solid team with great communication, and most importantly, getting the right results!”

“Nathan and Mark have created an outstanding company that offers not only financial solutions but business guidance. They are 100% devoted to ensuring their clients are supported and that they fully understand their individual needs. We truly thank you both for all of your support during both our successes and our not so successful times. I would recommend them to all.”

Analysis of Client Reviews:

Funda has some interesting content that can be found online, including interviews and business tips with some big voices in the Australian lending scene, so it comes as a bit of surprise that Funda has not prioritised partnering with a review platform to collect customer experiences.

We obviously can’t say with any certainty that the Facebook reviews on Funda’s page are genuine as anyone is able to leave a Facebook review. Additionally there are at least 5 reviews on facebook that are unrelated to the Funda product, which also slightly skews the already small number of reviews. That being said, the content in the relevant reviews is detailed and Funda has made the effort to respond to most reviews, and when applicable, linking to the reviewers business page on Facebook. We get the feeling they are genuine but we suggest you have a look and make your own call.

Reviewers speak of being a small business in tough circumstances and are appreciative of the commitment and dedication that Funda has put into ensuring a successful outcome and funding these small businesses when it’s needed most. Funda’s service seems to be as much about financial advice as it is offering finance options.

Client Reviews Score:

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Funda’s Online Platform

Funda’s website is a little clunky but there are numerous resources which would be helpful to prospective borrowers.

Funda’s product capabilities are detailed, the eligibility criteria is clearly displayed and there’s even a business loan calculator where you can check both your eligibility for a Funda loan and get an indication on your weekly repayments.

In addition to this, there’s engaging content where you can hear from some of Funda’s past clients and a business tips section where you can hear from business leaders in the Australian lending sector. The Funda blog is updated semi-regularly and provides tips for handling topical events.

The fact they have a business loan page which is still accessible via google but not from their own navigation is confusing and the presumably outdated page should be removed.

Website Score:

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Funda Loan Compatibility

  • Startup: Funda asks that you’ve been registered and trading for at least 12 months. 
  • Bad credit: Funda will consider applications with bad credit providing you meet their other criteria.
  • Sole trader: Yes, Funda can work with sole traders.
  • Established business: Funda certainly accepts established businesses.

Turnover: Funda asks for a minimum turnover of $10,000 per month.

It’s worth mentioning Funda’s five year repayment schedule. As this provides much more flexibility in repayment terms than even some of Australia’s best online business lenders. 

The minimum turnover of $10,000 a month, which equals to $120,000 per year is a little high. Businesses with a minimum turnover of $50,000 per year can apply with Lumi.

Compatibility Score: ⭐⭐⭐ 

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Funda Pricing & Rates

We like the fact that Funda provides an indication of the interest rates available. This transparency is not seen across many Australian business lenders so it certainly helps to differentiate Funda and show they have nothing to hide.Asset Finance loans are available from 7.26% per annum.

Funda is also keen to point out that their business loans can give you an interest rate up to 50% lower than what other non-bank lenders can offer you. Judging by the ‘starting at’ rates we would say they are better than some but probably on par with Australia’s best business loan providers.

Pricing Score: ⭐⭐⭐⭐ 

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Funda Business Loan Summary
  • Credibility - 61%
  • Ease of Registration - 95%
  • Website - 84%
  • Compatibility - 85%

Editor's Conclusions

unda is a small business in its own right that understands the demands and pressures that a small business will inevitably face. Funda’s general approach to lending is impressive as they’re transparent, honest and informative. We would however, welcome some clarity around what their total service offering is, as this appears to have changed in the last 12 months.

The lack of verified online reviews is also a concern but it’s Funda’s decision whether or not to work with a review platform. Clearly from their testimonials, Funda have had a number of happy clients who they were able to successfully find a financing solution for. However, for those looking for more security from a lender with more verified reviews, there are a lot of alternative business loan providers in New South Wales.


We hope this Funda review has boosted your understanding of the business lending specialist that is Funda. For more information or if you have any questions about this Funda review please contact us.