By Sandeep Kumar, Last Updated:
March, 10, 2021
Fundbox is an online lender that provides small businesses with loans in revolving lines of credit and net terms on business purchases.
Average Rating: 4
Do you own a business that needs quick and easy funding with fast approval?
Fundbox might be just what you need, so let’s check out the good and bad things about this company.
In this Fundbox review, I am going to provide information about:
Let’s start with the basics you need to know about Fundbox:
Who are they? What do they do?
But these are just to name a few of the most important things you need to know about Fundbox.
Let’s not wait and dive into the Fundbox Reviews to find out even more.
What types of loans does Fundbox offer? Let’s check them out and see:
Fundbox has a revolving line of credit (also called Fundbox Direct Draw), or invoice factoring (also called Fundbox Credit)
1) Direct draw: Revolving line of credit
2) Fundbox credit: Invoice factoring
How can you qualify for a loan at Fundbox? Let’s see:
Fundbox works with over 12,000 banking institutions across the USA.
Fundbox has a quick application process. Let’s see the steps:
Additionally, there are no prepayment penalties, which is great if you want to pay up earlier than anticipated.
One of Fundbox’s top competitors is Kabbage and BlueVine. Let’s see why:
1) Fundbox vs. Kabbage
One of the differences between Fundbox and Kabbage is that Fundbox charges a weekly fee on its lines of credit, while Kabbage charges monthly fees. The monthly fees can range between 1.5% – 10% (this depends on many factors such as credit score, annual revenue).
2) Fundbox vs. BlueVine
BlueVine offers invoice factoring, where the company buys your unpaid invoices at a discount, while Fundbox (also called Fundbox Credit) uses the invoices as collateral.
How can you reach Fundbox? Let’s see the list and find out:
In addition, you can submit a ticket-based inquiry from their help center.
Fundbox customer service is available from Monday through Friday, 8:00 a.m. to 8:00 p.m ET.
Fundbox has an excellent online reputation. The company has an A+ rating and is accredited with the Better Business Bureau. There are nine complaints on file, all of which have been resolved by the company. The 81 customer reviews on the site are overwhelmingly positive. There are some negative reviews, but most of the people seem pleased with Fundbox.
I have divided the reviews into two categories. Let’s check them out.
Despite the fact that there are some complaints, customer reviews of Fundbox are overwhelmingly positive. The company receives 4.67/5 stars on GetApp (based on 60+ ratings). It also rates a 4.7/5 on Trustpilot.
Let’s see some of the reasons why people like Fundbox.
Unlike other lending companies (which only advance 80-90% and don’t give you the rest until the invoice is paid), Fundbox funds 100% of the invoice, which many customers like since they have to access more money.
Now that we have mentioned some user reviews, let’s check out some general pros and cons about Fundbox:
People mainly say positive things about Fundbox, and it isn’t hard to see why.
Fundbox offers two types of financing and the application process is quick and easy. Additionally, the requirements are much lower than banks or some other online lenders, which might make Fundbox the obvious choice for your business.
The fees might be a little too expensive for some people, but you pay what you get – which is quick funding and great customer service and support from the Fundbox representatives.
We hope that in this Fundbox Review, you have found all the useful information that you might need if you want quick access to funding for you and your business.
up to $100,000
10.1% – 79.8%