In this guide

  • Our verdict
  • Details
    • Product details
    • Fundbox term loans
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure
Fundbox lines of credit
4.2
★★★★★
Finder score
Min. Amount
$1,000
Max. Amount
$150,000
APR
4.66% for 12-week terms and 8.99% for 24-week terms

Our verdict

Get a business line of credit with no documents and next-day funding — but watch out for the high cost.

Fundbox offers lines of credit with faster funding, more flexible requirements and a simpler application than you'll find at most banks. But the total cost can be higher than a credit card.

Best for: Business-facing companies in frequent need of quick funding to fill cash flow gaps.

Pros

  • No paperwork
  • Low 600 credit score minimum
  • Only requires 6 months in business

Cons

  • No credit limits over $150,000
  • Front-loaded fees
  • High total cost, compared to bank line of credit
  • Not transparent about how pricing works

In this guide

  • Our verdict
  • Details
    • Product details
    • Fundbox term loans
  • Your reviews
  • Ask a question

Details

Product details

Min. Amount $1,000
Max. Amount $150,000
Loan term 12 or 24 weeks
Min. Credit Score 600
APR 4.66% for 12-week terms and 8.99% for 24-week terms
Financing fee Starting at 4.66% per week
Requirements $30,000+ in annual revenue, 3+ months in business, 600+ FICO credit score, business checking account

Fundbox term loans

Max. Amount $150,000
Loan term 12 or 24 weeks
Min. Credit Score 600
APR Not stated
Financing fee Starting at 8.33% per week
Requirements 600+ credit score, 6+ months in business, $100,000+ in annual revenue

What makes Fundbox shine

A Fundbox line of credit could be a good option for small businesses that can’t qualify for a bank loan — or just don’t have the time to apply. It has a simple online application that makes it easy to consistently access funds.

You can receive a decision in as little as three minutes and funding as soon as the next business day. And once you’re approved, you can borrow continuously against the same line of credit without needing to complete an application every time.

It’s also one of the few online providers that truly asks for no paperwork by connecting to your accounting software. Plus, it accepts businesses that have been around for as little as six months.

Many other lenders require companies to have a minimum credit score of 670 or higher, but Fundbox accepts scores as low as 600 – making it more accessible to those with fair credit.

Where Fundbox falls short

Fundbox uses a flat fee instead of interest on its lines of credit, which makes it difficult to tell exactly how the cost compares to a bank loan or credit card, which often advertises costs with an APR. When we did the math, we found that most borrowers can expect to pay the equivalent of around 35% APR or higher. For comparison, Bluevine’s business lines of credit start at around 6.2% APR.

It also front-loads the fees during the first half of the repayment term. This means that even without prepayment penalties, you can’t save much by paying it off early.

Before the pandemic, Fundbox offered a term loan in addition to its line of credit, but that product has since been discontinued. This leaves businesses without any other funding options. Plus, its line of credit is capped at $150,000. If you frequently need more cash flow than that, you’ll need to explore your options elsewhere.

Fundbox business loans

Fundbox currently offers just one product: a business line of credit to help with expenses like buying inventory, purchasing materials, equipment maintenance and more.

Fundbox line of credit

Fundbox doesn’t charge interest on its lines of credit. Instead, it charges a fixed weekly fee, which you pay on each withdrawal. Here’s how it works:

  • Each withdrawal turns into a short-term loan with a 12- or 24-week term.
  • Fees start at 4.66% per week for the 12-week term and 8.99% per week for a 24-week term.
  • Borrowers pay the majority of the cost during the first third of the loan term.

There are no origination fees, draw fees or prepayment penalties. But the front-loaded fees mean you likely won’t save much by repaying your loan early. That is, unless you make extra payments within the first four weeks of a 12-week term or eight weeks of a 24-week term.

Minimum credit score/credit range600
APRNot stated
Loan amountsUp to $150,000
Terms12 or 24 weeks
TurnaroundTypically 1-2 business days; funding in 2 business days.
Fees
  • Financing fee of 4.66% per week for the 12-week term
  • Financing fee of 8.99% per week for a 24-week term
AvailabilityAll 50 states, Guam, American Samoa, North Mariana Islands, Puerto Rico and US Virgin Islands.

To see how much your business might pay every month, use our business loan calculator.

Monthly repayment calculator

See how much you'll pay
Your loan
Loan amount
$
Loan terms (in years)
Interest rate
%

Fill out the form and click on “Calculate” to see your estimated monthly payment.

or

Compare more business loans
You can expect to pay back $ per month
Based on your loan terms
Principal $
Interest $
Total Cost $

How to qualify for a Fundbox business loan

You and your business must meet the following criteria to qualify for a Fundbox line of credit — at a minimum.

  • Personal credit score of 600 or higher
  • At least $30,000 in annual revenue
  • At least three months of transaction history in a business checking account, but preferably at least 6 months in business

Just meeting these requirements might not be enough to get approved. “Our solutions are purpose-built to meet the unique needs and pain points of business to business (B2B) businesses, like waiting to get paid, covering payroll and investing in growth. Our customers are typically B2B small businesses with 20 employees or fewer, with annual revenues of up to $1 million,” Fundbox COO Cetin Duransoy told Finder in an interview.

Generally, Fundbox prefers to work with borrowers with at least a 650 credit score and $250,000 in annual revenue. The lowest rates typically go to business owners with a credit score of 700 and companies with at least $500,000 in annual revenue.

What accounts can I link to Fundbox?

Fundbox works with the following types of accounting software:

  • Clio
  • eBility
  • FreshBooks Classic
  • FreshBooks New
  • Harvest
  • invoiceASAP
  • Jobber
  • Kashoo
  • QuickBooks Desktop
  • QuickBooks Online
  • Zoho

You don’t necessarily need to use eligible software to qualify. Fundbox can connect with bank accounts from over 12,000 financial institutions including national, regional and local banks and credit unions instead.

How to apply for a Fundbox loan

Follow these steps to apply for a loan from Fundbox:

  1. Visit the Fundbox website and register for an account.
  2. Provide basic information about your business.
  3. Connect your bank account and accounting software.
  4. Submit your application.

After you submit the application, Fundbox processes the information and gives you an offer, if approved. Fundbox only runs a soft credit check when you first apply for a line of credit. But it runs a hard credit check when you make your first withdrawal.

While you’ll need your login credentials to connect accounts, Fundbox doesn’t store that information. It also uses Norton to make sure the site isn’t compromised and your information is protected.

How Fundbox compares to other lenders

Fundbox lines of credit work a lot like those available through OnDeck and Bluevine, but there are a few small differences.

OnDeck offers higher credit limits and instant funding on its credit lines, meaning you could receive your withdrawal within minutes. But it may be more difficult to qualify, and it’s not completely paperwork-free.

Bluevine offers higher credit limits and has a lower APR than Fundbox. But it has higher credit score, time in business and revenue requirements.

Fundbox lines of credit

OnDeck short-term loans

★★★★★

Finder rating 4.2 / 5

★★★★★

Finder rating 4.6 / 5

Loan amount

$1,000 – $150,000

Loan amount

$5,000 – $250,000

APR

4.66% for 12-week terms and 8.99% for 24-week terms

APR

Average is 60.9%

Loan term

12 or 24 weeks

Loan term

3 to 24 months

Requirements

$30,000+ in annual revenue, 3+ months in business, 600+ FICO credit score, business checking account

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

Fundbox reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 4.8 out of 5 stars, based on 425 customer reviews
BBB customer complaints 14 customer complaints
Trustpilot Score 4.4 out of 5 stars, based on 3,634 customer reviews
Customer reviews verified as of 21 March 2023

Fundbox earns good reviews overall. Most customers compliment the helpful service and speedy funding. A few even mention their customer service rep by name and claim that Fundbox approved them after other lenders had denied funding. But some complaints report receiving spam and unsolicited contact from Fundbox after turning down a loan offer.

Is Fundbox legit?

Yes, Fundbox is a legitimate lender. It has served over 500,000 small businesses and funded more than $3 billion in working capital since it opened in 2013. It uses encryption technology and strict security protocols to keep your information safe. It has multiple FAQ pages outlining how its privacy and security policies work.

However, the privacy policy on its website doesn’t state a way you can limit how your information is shared. Read the full privacy policy and other documents carefully to ensure you agree with how Fundbox may use information about you and your business.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Anna Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site