Fundbox

• Fast Credit Decision
• No Minimum Credit Score Required
• Flexible Funds

Fast Credit Decision

If you're looking to fund a growth investment or business expense, you know how limited that window of opportunity can be. A slow credit decision process or delayed transfer of funds could make or break that crucial inventory purchase or marketing launch you have planned.

Fundbox has designed a simple application process that gives you a credit decision in under three minutes (based on the median decision time for Fundbox customers), allowing you to make faster, smarter financial decisions with your limited time. The process is: 

• Sign up in minutes and get a credit decision in hours without paperwork
• If approved, draw funds for your business at any time
• Funds transfer as soon as the next business day

According to the company's website, business owners need the following to apply: 

• A business bank account (specifically a checking account) 
• At least two months of activity in a supported accounting software or three months of transactions in a business bank account 
• An ideal minimum of $50,000 in annual income  
• A business based all 50 states in the U.S. or these U.S. territories: Guam, American Samoa, North Mariana, Islands, Puerto Rico, U.S. Virgin Islands 

After the application process is complete and you are approved for a Fundbox loan, you will receive your loan funds in as little as one business day. 

No Minimum Credit Score Required

Fundbox underwrites Direct Draw business loans--which go up to $100,000--using your business bank account transactions and other business data sources, and determines your eligibility and fee based on that data. Your personal credit score is just one small piece of the equation, and there is not a hard pull until you decide to draw funds, so there is no risk to your score until you've seen your credit limit. 

Flexible Funds

Fundbox makes it easy to use your funds how you want. Stay in control with transparent pricing and funds that you can use for your business, however you see fit. Decide how much you want to draw and choose a 12- or 24-week repayment term. From there: 

• Pay a simple flat fee only for the weeks you use your funds.
• Repay early and Fundbox will waive any remaining fees from your 12- or 24-week term. Since fees aren't front-loaded, you save big.
• When you make a payment, that amount (minus the fees) becomes available again for you to use.
• You'll always be able to see the full cost of drawing before transacting.

• Limited to the United States
• Short-Term Financing
• Fees Vary
• Small Maximum Loan Amount

Limited to the United States

Currently, Fundbox only offers small business loans to businesses registered in the United States. The company also will not advance funds for outstanding invoices that are in a foreign currency or are being billed to international clients. 

Short-Term Financing

Fundbox offers 12- and 24-week repayment plans. While these repayment terms work well for quicker business investments or expenses, they are not usually suited for longer-term financing needs. 

Fees Vary

Fundbox's flat fees for its business loans vary from business to business depending on the amount you draw, the payment plan you select, and other factors. You will always be able to see the full cost before you confirm a draw. 

Small Maximum Loan Amount

Fundbox only offers up to $100,000 in financing options. With Fundbox funding being limited, small business owners may need to research other short-term financing options from alternative lenders. Many financing companies offer closer to $500,000 or $1 million in funding. 

Unlike traditional lending companies, Fundbox has taken the things that matter in your financial decisions and has designed a funding process to match. Its fast credit decisions and flexible funds make it simple for small business owners to seek funding and use new resources for any business endeavor.

At the same time, by taking your total business performance into account and aligning pricing with what's best for your business, you get a fast, straightforward decision and more control over your funding. Fundbox wants businesses to provide their business bank accounts (specifically a checking account), have two months of activity in accounting software or payroll software, have a minimum of $50,000 in annual income, and be based in all 50 U.S. states and/or U.S. territories. Fortunately, Fundbox does not have a personal credit score requirement, unlike many other lenders. 

The company strives to help small businesses maintain good cash flow by lowering the wait time for customers to make invoice payments and it offers lines of credit options. Clearly, Fundbox succeeds when the businesses that use it succeed, and its product reflects that. However, if your business operates outside of the United States and its territories, you're out of luck. Business owners considering funding products should strive to read Fundbox reviews in order to get a better grasp of what the company has to offer. 

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