Fora Financial

Written by human
Written by Joe Chappius

- Apr 11, 2025

Our take on Fora Financial in 30 seconds

Fora Financial offers quick access to capital for businesses that may not qualify for traditional bank loans.

While their factor rate pricing model results in higher costs than traditional lenders, they compensate with fast funding, responsive customer service, and flexible qualification requirements.

Best suited for businesses needing immediate working capital despite higher costs.

<PROPS> people

Pros & Cons

  • Quick funding

  • Approvals provided without affecting personal credit score

  • No collateral required

  • Fees can be high

Fora Financial At glance

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Company name

Fora Financial

Website

https://www.forafinancial.com

Phone

1-877-514-8062

Email

info@forafinancial.com

Address

519 8th Avenue, 11th Floor, New York, NY 10018

Pricing

Fora Financial uses factor rates rather than traditional interest rates. Rates are higher than traditional lenders, with factor rates that can equate to substantial APRs. No advertised origination fees, but overall costs are above market average.

Customer Support

Based on reviews, they typically respond within 1-2 business days. Customer service is generally praised for being professional and knowledgeable, though some reviews mention occasional generic responses.

Terms and Flexibility

Standard terms and conditions align with industry practices. Loan terms are shorter (4-15 months) than traditional banks. Transparent about factor rate model but lacks detailed fee disclosure upfront. Fully regulated with adequate security protocols.

Customer Experience

Streamlined application process with funding available within 72 hours. User-friendly online platform. High Trustpilot rating (4/5 stars from over 900 reviews) and A+ BBB rating indicate positive overall experiences despite higher costs.

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Details

Loan Fora Financial

Terms & Fees

Loan amount$5,000 - $1,500,000
Annual interest rate1% - 1000%
Nominal interest rate1.13% - 10%
Origination FeeFrom 3%

Requirements

Minimum credit score300-579
Minimum years in business0.5
Minimum annual revenue$240
National bank requiredYes
National phone number requiredYes
Headquarters in country requiredNo
Electronic identificationNo
Require tax returnsNo
Require bank statementYes
Require financial statementNo
Require business planNo
Collateral requiredNo
Personal collateral requiredNo

Features

Revocation periodNo
Weekend payoutNo
Loan extensionsNo
Early paybackNo
Loan brokerNo
P2P LenderNo
Possible for start-upsYes
Line of creditNo

Additional fields

Payment hoursAlways Open
Interest rate typefixed
Recommended companyYes

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