6 alternatives to Fundbox lines of credit

Lendio is an online business loan marketplace that partners with over 75 lenders, including many providers on this page. While it won't fund your loan, it allows you to prequalify with multiple providers by filling out a simple online form — at no cost. But while it has a wide range of partners, it doesn't work with every lender out there, and the application requires you to have quite a bit of information on hand.

• Pros and cons

  Pros

  • Over 75 partner lenders
  • Compare lenders in 15 minutes
  • Wide variety of lending options

  Cons

  • Application is hefty
  • Exact rates and terms vary by lender

• More details

  Loan amount	$1,000 – $5,000,000
  APR	Starting at 3%
  Min. Credit Score	500
  Loan term	3 months to 25 years
  Requirements	Operate business in US or Canada for 6 months or more, have a business bank account, minimum 500 personal credit score, at least $20,000 in monthly revenue

FundThrough is one of the few fully-automated factoring companies that can transfer funds within 24 hours by connecting with your business accounting software. One of the biggest advantages of going with FundThrough is that there are no contracts — you aren't obligated to commit to a number of months.

While the financing fee range of 2.75% to 8.25% is average, it can provide as much as 100% of the funds upfront, minus the estimated fees. Most factoring companies only advance up to 90%.

• Pros and cons

  Pros

  • No-doc application
  • Next-day funding available
  • Offers 100% advances
  • No contracts

  Cons

  • Not all accounting software accepted
  • Financing fee 2.75% to 8.25%

• More details

  Loan amount	$500 – $10,000,000
  APR	Not applicable
  Min. Credit Score	500
  Loan term	1 to 3 months
  Requirements	At least $100k in accounts receivable to one customer, invoice B2B or government agencies, invoices are for completed work, no construction or real estate, no explicit liens on receivables

BlueVine also offers business LOCs and invoice financing with credit score, time in business and revenue requirements similar to Fundbox. The main difference is the credit limit, which can reach $250,000. Instant funding is also available for a $15 fee, and rates start at 6.2% over a 26 week-term.

But it sets a $5,000 limit for first-time draws and doesn't offer information on rates for longer terms. Sole proprietors and partnerships may also have a more difficult time getting approved, as options for those are limited.

• Pros and cons

  Pros

  • Higher credit limit than Fundbox
  • Invoice factoring with Fundthrough
  • Same-day funding available

  Cons

  • Limited options for sole proprietors and partnerships
  • $5,000 minimum first draw

• More details

  Loan amount	$5,000 – $250,000
  APR	Starting at 6.2%
  Min. Credit Score	625
  Loan term	6 or 12 months
  Requirements	24+ months in business, $40,000+ in monthly revenue, 625+ credit score

OnDeck is an online lender that offers business LOCs and short-term loans. It has similar credit requirements and low-doc application process to Fundbox. However, OnDeck advertises that it can transfer some draws within seconds or minutes. It also offers a credit limit of $250,000 — much higher than Fundbox's $150,000.

While its starting rates are high at 29.9% APR, it's less expensive than Fundbox — though still more costly than a traditional LOC. Quick funding can be great in tough spots, but watch out for those high rates.

• Pros and cons

  Pros

  • Instant access to credit line funds
  • Credit limits as high as $250,000
  • Accepts fair credit

  Cons

  • High starting APR of 29.9%
  • Repayment schedule depends on term

• More details

  Loan amount	$5,000 – $250,000
  APR	Average is 60.9%
  Min. Credit Score	625
  Loan term	3 to 24 months
  Requirements	Companies in business at least 1 year, $100,000+ in gross annual revenue, majority owner with a 625+ personal credit score, active business checking account

Kabbage also offers a business LOC up to $250,000 with flat monthly fees based from 2% to 27%. While it starts lower than Fundbox, these fees still translate to a high 24% to 328% APR. You can also access your funds by making a request through the Kabbage app or your online portal.

However, Kabbage's credit score requirement is 660, which is higher than Fundbox at 570, so borrowers with less-than-ideal credit may have better chances with Fundbox.

• Pros and cons

  Pros

  • No-doc application
  • Same credit limit as Fundbox
  • Access funds through app
  • Accepts fair credit

  Cons

  • Higher credit score requirement than Fundbox
  • High monthly fees

• More details

  Loan amount	$2,000 – $250,000
  APR	3% to 27%
  Min. Credit Score	660
  Loan term	6-month term: 0.25% to 3.50% 12-month term: 0.25% to 2.75% 18-month term: 0.25% to 2.50%
  Requirements	1+ years in business, 660 minimum credit score, a valid checking account and $3,000 minimum monthly revenue

Funding Circle is a peer-to-peer lender that offers a range of business financing, including LOCs and invoice factoring. The rates vary widely by product, with the LOC rates from 7% to 25% APR and the invoice factoring rates from 10% to 60% APR — competitive compared to Fundbox's fees.

Funding Circle offers instant or same-day draws on its LOC, though other types of financing can take longer. The APR also includes an origination fee of 4.49% to 8.49%. But it requires a 620 credit score and at least two years in business.

• Pros and cons

  Pros

  • Competitive rates
  • Wide range of financing options
  • Instant or same-day draws
  • Few fees

  Cons

  • High origination fee
  • Not for bad credit

• More details

  Loan amount	$25,000 – $500,000
  APR	as low as 7.49% interest rate
  Min. Credit Score	620
  Loan term	6 months to 5 years
  Requirements	620+ credit score, 2+ years in business, $50,000+ in annual revenue, no bankruptcies in the past 7 years