Fundbox

Fundbox Reviews

Author pictureAuthor picture
Author picture
Written by
Author picture
Edited by

Our promise. We provide a buying advantage with verified reviews and unbiased editorial research.

About Fundbox

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Fundbox offers a way for small businesses to get almost immediate access to working capital. It offers lines of credit up to $150,000 and is recognized for its user-friendly platform, lenient eligibility requirements and quick funding.

    Pros & Cons

    Pros
    • Quick application process
    • Accessible to many businesses
    • No application fees or prepayment penalties
    • Flexible credit line
    Cons
    • Requires weekly repayments
    • Short term lengths (12 or 24 weeks)

    Our editor’s take on Fundbox

    Fundbox stands out for having a quick funding process and easier-than-average eligibility requirements. It requires only six months in business, which is particularly appealing for newer companies struggling to meet the one-year threshold often imposed by other lenders.

    The application process is quick, and if approved, you can often access funds as soon as the next business day.

    However, the max loan term is 24 weeks, and you make weekly payments instead of monthly. Businesses with irregular cash flow or those in need of a longer runway to repay might find Fundbox's terms limiting.

    Fundbox products

    Fundbox’s primary product is a line of credit that goes up to $150,000, with a repayment period of 12 or 24 weeks. You can use it for almost any business need, including inventory, staffing and unexpected expenses. Because it's a line of credit, you pay only for what you use. So if you’re approved for $50,000 but draw only $15,000, you pay interest on $15,000.

    You can draw funds from your line of credit whenever you need to, up to your approved limit. Each draw becomes its own installment loan. You'll make weekly payments until the draw is paid off, and these payments will include the borrowed amount plus fees.

    In addition to its line of credit, Fundbox also offers two add-on services: Flex Pay for invoice payments and Fundbox Plus for borrowers seeking reduced fees or longer repayment terms.

    Flex Pay

    Flex Pay is a business demand deposit account that’s available to Fundbox line of credit users. It allows you to pay your vendor invoices immediately through Fundbox, even if your business doesn’t have the funds available at that moment. Then you have a three-day grace period to repay Fundbox with no fees. Or, you can add the amount to your line of credit.

    Fundbox Plus program

    Fundbox Plus is a subscription service that provides enhanced benefits to customers for a monthly fee. Subscribers to Fundbox Plus may receive perks such as reduced fees on credit draws and longer repayment terms. These benefits are designed to make the service more customizable to your business's specific needs.

    Fundbox rates

    Fundbox’s rates (which it refers to as “fees”) start at 4.66% as of publishing for a 12-week repayment period and 8.99% for a 24-week repayment period, depending on your credit profile and the health of your business.

    You can view your rate and all applicable fees before you take your first draw, so you can decide whether it’s right for you.

    Fundbox fees

    Fundbox has no application, inactivity or origination fees. There are also no prepayment penalties, so the sooner you pay off your loan, the more interest you save.

    You may pay late fees if you miss a payment and non-sufficient funds fees if one of your payments bounces.

    How to apply for a Fundbox loan

    To apply for a Fundbox loan, you’ll need to meet the following eligibility criteria:

    • 600+ personal FICO score
    • $100,000+ in annual revenue
    • U.S.-based
    • Ideally 6+ months in business

    If you meet these criteria, you can then apply for a Fundbox loan through its online application process. You’ll need to provide basic business information, then connect your business checking account or accounting software for a quick financial assessment.

    You generally find out if you qualify for a Fundbox line of credit in as little as three minutes. You can receive funds in as little as one business day.

    If you have questions, you can reach customer support by calling 855-572-7707 or emailing support@fundbox.com.

    Fundbox is available in all 50 states, plus Guam, American Samoa, North Mariana Islands, Puerto Rico and the U.S. Virgin Islands.

    How does Fundbox compare?

    Qualification for a Fundbox line of credit is generally more accessible than traditional bank loans. It typically requires less time in business and lower credit scores.

    Here’s how Fundbox’s line of credit compares with the lines of credit from two other popular business loan lenders, OnDeck and Bluevine.

    Need cash now? Use our Business Loans Tool to match with partners in minutes!

    Find a match

    Fundbox FAQ

    Is it hard to get approved for Fundbox?

    It might be easier to get approved for a Fundbox loan because it requires a lower credit score and less time in business. Still, approval will be based on your total credit profile.

    Is Fundbox a loan or grant?

    Fundbox offers lines of credit, which is a loan product that works much like a credit card. You’re approved for a line limit that you can repay and borrow from as needed. It’s not a grant.

    Does Fundbox affect your credit score?

    Fundbox does a soft pull on your credit when you apply, which doesn't affect your score. It performs a hard pull once you make your first draw. This hard pull may temporarily cause your score to dip.

    Is Fundbox legit?

    Fundbox is a legitimate small business lender that says it has helped over 500,000 businesses get access to over $3 billion in flexible funding since its inception in 2013. It might be relatively new compared to traditional financial institutions, but its innovative approach to business lending has not been linked with any significant legal actions or scandals.

    Fundbox Reviews

    Stars Rating

    • 0%
    • 0%
    • 0%
    • 0%
    • 0%

    Popular Mentions

      How do I know I can trust these reviews about Fundbox?
      • 4,480,424 reviews on ConsumerAffairs are verified.
      • We require contact information to ensure our reviewers are real.
      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.
      Recent
      • Recent
      • Oldest
      • Most helpful

      A link has directed you to this review. Its location on this page may change next time you visit.

      How do I know I can trust these reviews about Fundbox?
      • 4,480,424 reviews on ConsumerAffairs are verified.
      • We require contact information to ensure our reviewers are real.
      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.
      Page 1 Reviews 0 - 10
      PricePunctuality & SpeedStaff

      Reviewed Nov. 14, 2016

      I just needed a couple more details on a transaction and I have been able to contact someone to get all the answers I wanted. The way to communicate was easy and the person was polite. The payment timeline was fast. The amount has been transferred to my bank account instantly and securely. I did not have to wait for several days. I liked it very much. The pricing issues were correct. I did not have any surprise and so that made the experience great and I have been able to use the money as I wanted to use it. It is very confidential. The security of the data is their priority so I felt secure and I did not have any worries for some reason with the transaction.

      Customer ServicePrice

      Reviewed Nov. 13, 2016

      My customer support experience was as good as it gets. Enjoyed all aspects of the site and would recommend to anyone out there that needs this type of site. The payment timeline that was given was very adequate and a very reasonable approach to the project. I had no problem with the pricing issue. Very quality site for all to use. This site is very confident and has everything you need to have and very positive outcome. Would recommend this site to all that are interested in this subject.

      Not sure how to choose?

      Get buying tips about Business Loans delivered to your inbox.

        By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

        Thanks for subscribing.

        You have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

        PricePunctuality & Speed

        Reviewed Nov. 4, 2016

        Slow sluggish but effective. If you can get a hold of any of the CSR reps usually pretty good yet qualified technicians. Honestly worked out of the box and really haven't had to use them too much. What can you say? It's a pretty cookie cutter timeline effective to every end user they have on their current roster. Personally I would like to see more template style. Again the prices like the product simpler and effective. If anyone has done any AP/AR roll-out anywhere you can pretty much expect to be over budget here no. In today's era of mass marketing and social networks I didn't expect this type of security from a smaller company. Yet the big ones are doing much worse.

        PricePunctuality & SpeedStaffEase of UseProcess

        Reviewed Nov. 3, 2016

        They are very supportive and help you get through the process all the way and make sure that you are satisfied. The best services I have ever had. It was quick and efficient and the give the cheap options that are very affordable. And the best part is it very customizable to the most detailed as possible. I did not have any problems. It is very simple. The prices are adjustable and that is the best part. They maintain all of your information and keep it in a safe secure database but mostly they do not ask most sensitive information of you mostly the small detail stuff at most.

        Customer Service

        Reviewed Oct. 31, 2016

        With Fundbox they have 247 customer service so this is always a plus. I myself have not had a reason to call so I can't really vouch on this but I know that this is a great company and to be a great company you need great customer service. The payment timeline is set up in weeks. You've got two options which make things a lot simpler. You choose 12 week payment or 24 week payment. For an invoice of $1000 you pay $89 a week. And 24 week plan is $48 a week. So choosing the longer plan you save in the long run.

        Payments are automatically deducted from your account the week after you clear a invoice. 12 weeks for $89 and 24 weeks for $48. All of this for $1000 worth of invoices. It can't get any better than that. You have no worries when dealing with this company. I have been with them for 5 years now and nothing has changed for the bad. They have always kept up with my payments and information.

        Customer ServicePricePunctuality & Speed

        Reviewed Oct. 27, 2016

        Their customer service was good. Their customer service helped me out when I needed it. They were fast, helpful, and were happy to help me out. Their payment line was good. It was easy, fast and understandable. I was able to pay my payments without having any problems. The price was good. It was affordable, and easy. Overall my experience with the company was very good, and I am very satisfied and would probably do it again. I didn't have to worry about my confidentiality, or anyone steal my information.

        PricePunctuality & Speed

        Reviewed Oct. 26, 2016

        Friendly, easy to deal with, helped my company get paid timely. Would highly recommend these services for any company. Our receivable accounts increased in timely pay, entering by 25 percent. A 30 to 60 day time line and most payments were received within 30 day time frame. Constant late payments from certain customers were finally received in a timely manner. Cash flow greatly increased for our company in 3 months. Pricing was reasonable and the cost of service offset the money our company was losing from late paying customers. Would definitely use this service again. Bosses were very pleased with our results. Everything was strictly confidential, and we felt that our clients and customers privacy as well as our own was taken very seriously. Company was discreet and got the job done.

        Need cash now? Use our Business Loans Tool to match with partners in minutes!

          Loading more reviews...

          Fundbox Company Information

          Company Name:
          Fundbox
          Website:
          fundbox.com