Forward Funding Reviews

Forward Funding operates as a loan referral service. When you submit your information, it shares your request with partnered lenders that decide whether to make a loan offer. These lenders set their own rates and terms and control approval, funding and repayment. Because Forward Funding isn’t a direct lender, you’re likely to receive more than one offer, and each lender will have its own process and timeline.

Loan referral service vs. direct lender

The following chart outlines the differences between loan referral services like Forward Funding and direct lenders:

Forward Funding can refer you to several different loan products. The terms and conditions of any loan you choose through a Forward Funding referral will come directly from the lender that funds it.

Personal loans

Forward Funding can help you find personal loans that can be used to cover home improvements, large purchases, vacations and more. Forward Funding promises some borrowers funding in as little as 24 hours after approval, but funding times will vary depending on the lender.

Forward Funding doesn’t offer an average interest rate for the loans, since it’s ultimately the partner banks that make the final financing decisions. To find out your rate, you’ll need to fill out an application that includes basic personal information, or you’ll need to respond to an offer mailed to you.

Debt consolidation loans

Debt consolidation loans help you turn multiple high-interest debt payments into one, ideally with a lower interest rate. Since some borrowers qualify for funding in as little as 24 hours, Forward Funding’s debt consolidation loans may work well for those looking for quick relief from overwhelming debt.

Forward Funding is not forthcoming with its debt consolidation rates, requiring potential borrowers to fill out an application before providing rate quotes. However, the company does state that it offers repayment terms of 24, 36, 48 or 60 months for debt consolidation loans.

Business loans

Forward Funding’s business loans give business owners the ability to borrow up to $250,000. To qualify, you’ll need to have owned the business for at least one year and have at least $3,000 in credit card sales each month.

Equipment financing

Forward Funding’s equipment financing offers business owners the ability to finance or lease equipment in amounts up to $150,000. With these loans, you can lease just about any piece of equipment, including new and pre-owned equipment.

Forward Funding doesn’t offer rate information on its website, since it doesn’t set the rates for the lenders it refers users to. This means that rates will vary from lender to lender, as well as loan product to loan product. To find out what rate you can expect, you’ll need to complete the application process and review your loan offers.

Forward Funding itself is free to use and doesn’t charge any fees. That said, the lenders that it connects you with may charge fees of their own.

To find out the fee schedule associated with your loan, be sure to read the terms of any offer presented to you closely, or connect with a customer service representative from your official lender. They should be able to answer any questions.

Applying for a loan through Forward Funding is a relatively straightforward process that should take five minutes or less. You can either call a representative directly and apply for a loan referral, or you can apply online.

Forward Funding breaks its online application into these three steps:

1. Get your rate. To receive a rate quote, you’ll need to answer a few questions and provide some basic personal information, such as how much money you need to borrow, how you plan to use the funds, your full name and your street address. After you submit this information, you’ll see the rate you qualify for.
2. Choose an offer. If you qualify, you’ll see multiple plan options from different lenders. After carefully considering each, you can choose the loan offer that works best for you and move forward with it.
3. Get funded. Upon approval, you can expect funding in as little as 24 hours, but the exact funding time varies from borrower to borrower. Forward Funding makes the funding process easy by depositing the loan directly into your bank account.

Forward Funding is a legitimate loan referral service that connects borrowers with partnered lenders. It isn’t a direct lender, so rates and terms come from the financial institutions that review your request.

Customer feedback is generally positive, with many borrowers noting the quick application process, helpful customer service and fast funding. Some also appreciated the debt consolidation options and easy-to-use website.

A few customers raised concerns about high interest rates from certain lenders and felt some marketing materials were unclear. Forward Funding also has a limited online presence outside of its website, which may matter to borrowers who want more transparency before applying.