Compare BlueVine vs. Fundbox business financing

BlueVine

You’re eligible for a business line of credit if you meet the following criteria:

• In business for at least six months
• Annual revenue of at least $100,000
• Minimum personal credit score of 600

• Not based in North Dakota or South Dakota

You’re eligible for business invoice factoring if you meet the following criteria:

• In business for at least three months
• Minimum personal credit score of 530
• Invoices from business-to-business (B2B) or business-to-government (B2G) transactions

• Not an insurance company, car dealership or financial institution

Fundbox

You can apply for a business loan with Fundbox if you meet the following criteria:

• Business is registered in the United States
• At least three months of active invoice history
• Use accounting software partnered with Fundbox or have a valid business checking account

BlueVine

Your application takes no more than a few minutes to complete, requiring your contact information, the amount you’re interested in and a link to your business accounts. You’ll get a funding decision in as little as 10 minutes, with funding on the same day if you pay for a $15 wire transfer. Otherwise, it can take one to three business days to get your money.

Fundbox

To apply with Fundbox, create an online account with your personal and financial details. You’ll then connect your bookkeeping software or business bank account and submit your information. You should hear a decision within a few hours. Once approved, your funds are transferred to your account as early as the next business day.

BlueVine

Based on over 1,150 Trustpilot reviews, BlueVine scores a decent 9.4 out of 10 — with 85% of its customers rating it as excellent. Many users are happy with BlueVine’s convenience and speed.

Fundbox

As of June 2019, Fundbox has even more reviews on Trustpilot and averages 9.7 out of 10. Add to that more than 90% of its customers who rated it excellent. Customers also sound pleased with Fundbox’s customer service.

BlueVine

You can borrow between $5,000 and $250,000 with a BlueVine line of credit or term loan, while its invoice factoring starts at $5,000 and goes up to an incredible $5,000,000 based on the amount of your invoices advanced. You can get between 85% and 90% of the invoice amounts you’re owed.

Fundbox

With Fundbox, you could be approved for anywhere from $1,000 and $150,000 as a line of credit.

BlueVine

Interest rates for BlueVine’s line of credit and term loan start at a low with 12 or 6 months to pay it off. But for invoice factoring, you’ll pay a factor fee between 0.2% and 1.3% for each week your client takes to pay their invoice.

BlueVine doesn’t charge prepayment penalties, origination, termination or monthly service fees. But if you need funds faster than its standard delivery, you’ll pay a $15 wire transfer fee for the convenience.

Fundbox

Fundbox technically doesn’t charge interest on its loans. Instead, it charges a percentage of your balance as a fee each time you make a payment. Payments are due a week after you make a withdrawal, with fees starting at 4.66% for a 12-week credit line and 8.99% for a 24-week credit line. You can save by paying back your line of credit early.

If you’re unable to make your payments on time, you could be stuck with triple the amount you owe, also reimbursing Fundbox any fee that comes with its failed attempt to withdraw money from your accounts.

With its advances on your unpaid invoices, Fundbox deposits the entire amount that you’re owed into your account right away, and you then have 12 weeks to pay it off — plus a fee. Fundbox also allows you to stay in touch with your customers, even when you aren’t collecting payments from them.