Fundwise Capital is a financial services company based in Provo, Utah. It specializes in helping a new business find funding, but is not a direct lender. Instead of lending to companies, it attempts to connect qualified customers with third-party funding companies.
This company makes money through the fees it charges clients and partners, as well as through its credit counseling program. Fundwise Capital provides the following kinds of funding through its partners:
- Installment loans
- Business credit cards
- Lines of credit
The lines of credit availed through Fundwise come in the business and personal formats. Which one a business would receive depends on whether it meets all the necessary conditions for qualification. A line of credit refers to a deal by a funding company to lend a person or business money capped at a set amount called the credit limit. As opposed to most other loans, one does not get this type in a single payment. Instead, it can be drawn on at discretion and in variable increments, as long as the total amount borrowed does not cross the credit limit. One only has to make payments on the amount they draw. Fundwise can connect businesses to both non-revolving and revolving lines of credit.