For businesses seeking financing options, Bluevine and Fundbox are both highly rated lenders to consider. Bluevine offers larger loan amounts, which benefits companies looking for greater funding. On the flip side, Fundbox has fewer eligibility requirements, making it more accessible for newer business owners.
Bluevine vs. Fundbox: A quick comparison
Bluevine | Fundbox | |
---|---|---|
|
| |
Finder rating | ★★★★★ | ★★★★★ |
Loan products offered |
|
|
Interest rates | Starting at 6.2% | 4.66% for 12-week terms and 8.99% for 24-week terms |
Fees | No fees for opening, prepayment or account closure | No origination, opening or prepayment fees |
Loan amounts | Up to $250,000 | Up to $150,000 |
Turnaround time |
|
|
Eligibility requirements |
|
|
Ratings |
|
|
State availability | Not available in: Nevada, North Dakota, South Dakota | Available in all states |
Pros |
|
|
Cons |
|
|
Bluevine vs. Fundbox: Which one’s better?
Bluevine proves to be a stronger competitor with a higher credit line maximum and flexible repayment terms. However, for people with lower credit scores, Fundbox may be the better fit with more relaxed eligibility requirements and a lower minimum credit score requirement than Bluevine.
When to consider Bluevine
Bluevine is a compatible choice for businesses that want:
- Larger loan amounts. Borrowers can receive up to $250,000 if they qualify.
- Fast decision times. Find out if you qualify within three minutes.
- Financial education. Bluevine has an extensive library of articles to help you make informed decisions.
When to consider Fundbox
Fundbox may be the best option for your business if you need:
- Flexible repayment periods. Fundbox offers a three-day grace period for missed payments and allows you to change the repayment date each time you draw your line of credit.
- More relaxed eligibility requirements. Fundbox requires a minimum of $100,000 in annual revenue, while Bluevine requires $40,000 a month.
- Lower credit scores accepted. Fundbox accepts a minimum of 600 credit score, which is lower than many competitors.
The similarities
Although both Bluevine and Fundbox differ in their approval requirements, geographic availability and loan amounts, both offer fast turnaround times. Both companies also have an excellent A+ rating from the Better Business Bureau as well as from customer reviews on Trustpilot.
Compare other business loans
Compare up to four lenders side by side to see how they stack up.
Alternatives to Bluevine and Fundbox
Here are alternatives similar Bluevine and Fundbox:
- OnDeck: OnDeck can fund your business loan as soon as same day.
- Finance Factory: Finance factory offers rates starting at 0%.
- American Express Business Line of Credit: Amex Business Line of Credit works for borrowers who would prefer monthly fees over interest
See how other lenders stack up
Here are other comparisons that may be helpful when choosing the right business lender.
More guides on Finder
-
What is invoice financing? How this fast yet pricey funding works
Invoice financing can help your business meet immediate cash flow needs based on your unpaid invoices.
-
Seek Capital Business Loans Review: Good for Startups
Startups and newer businesses could qualify for up to $150,000 in financing.
-
How to get a $150,000 business loan
Compare different lenders to secure a $150,000 business loan with favorable terms.
-
Best no-doc business loans in July 2024
Compare the best ten lenders that offer no-document or low-doc loans.
-
Compare $50,000 business loans
Find $50,000 loans for all purposes, even if you’re a startup or have bad credit.
-
Compare $15,000 business loans
A business loan of this size is small enough to have options for startups and business owners with bad credit.
-
$2 million business loans
Where to find funding to buy equipment, grow your business and more.
-
Compare $10,000 business loans
Stay away from big banks for a loan of this size.
-
$1 million business loans
We look at eligibility requirements, potential costs, SBA options and more.
-
Compare $100,000 business loans
Know the typical revenue and credit score required and how much you can expect to pay on a $100K business loan.
Ask a question