Lendio business loans
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Loan amount | $1,000 – $5,000,000 |
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APR | Varies by lender |
Min. Credit Score | 500 |
Many Fundbox alternatives also offer low-doc online applications, fast turnaround times and flexible requirements. And you’re not limited to traditional lenders or fintechs. You can also consider connection services to quickly narrow down your options or peer-to-peer lending platforms for an alternative lending option.
Lendio business loans
Finder score
Loan amount | $1,000 – $5,000,000 |
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APR | Varies by lender |
Min. Credit Score | 500 |
FundThrough Invoice Factoring and Financing
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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%.
Loan amount | $500 – $10,000,000 |
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APR | Not applicable |
Min. Credit Score | 500 |
Bluevine business lines of credit
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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.
Loan amount | $5,000 – $250,000 |
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APR | Starting at 6.2% |
Min. Credit Score | 625 |
OnDeck short-term loans
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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.
Loan amount | $5,000 – $250,000 |
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APR | Average is 60.9% |
Min. Credit Score | 625 |
American Express® Business Line of Credit
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American Express Business Line of Credit also offers a business LOC higher than you may get with similar competitors. It has flat monthly fees based on your loan term. A 6-month line of credit ranges from 3% to 9%, 12-month terms are 6% to 18%, 18-month terms range from 9% to 27% and 24-month lines of credit can range from 12% to 18%. You can access your funds by making a request through the American Express Business Line of Credit app or your online portal.
However, American Express Business Line of Credit'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.
Loan amount | $2,000 – $250,000 |
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APR | N/A |
Min. Credit Score | 660 |
Funding Circle business loans
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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 660 credit score and at least two years in business.
Loan amount | $25,000 – $500,000 |
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APR | starting at 7.49% |
Min. Credit Score | 660 |
Fundbox is a low-fee provider with no application, maintenance or origination fees. And unlike many other business lenders, its time-in-business requirements are more lax, only requiring six months in business versus the typical 12. But its line of credit caps out at $150,000, whereas other lenders like OnDeck offer up to $250,000.
Fundbox shines in its simple, low-doc application, and it accepts credit scores as low as 600. So if your business has been active for less than 12 months and your credit score isn’t ideal, Fundbox might be the provider for you.
Invoice financing can help your business meet immediate cash flow needs based on your unpaid invoices.
Startups and newer businesses could qualify for up to $150,000 in financing.
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