Fundbox was founded in 2012 and started offering its product in 2014 with a niche business model of providing advances on outstanding invoices to businesses and freelancers. One of the company's founders, Eyal Shinar, came up with the idea for Fundbox after he watched his mother struggle with cash flow in her staffing business in Israel.
Fundbox's goal is to help small businesses maintain adequate cash flow by reducing the wait time for customers to pay invoices. The company also offers lines of credit options. Fundbox aims to address a more narrow and immediate need: paying business owners for the work they've already done.
Fundbox offers a hassle-free, easy application process where merchants simply connect their Quickbooks or business checking accounts to Fundbox's platform and then they receive a credit decision in three minutes or less. There is one flat weekly fee and no draw fee, no front-loaded fees, and no pre-payment penalty.
You can find Fundbox reviews below to see how Fundbox funding measures up against other lending options.
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:
According to the company's website, business owners need the following to apply:
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.
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.
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:
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.
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.
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.
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.
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Fundbox was a great tool for us to bridge the gap between invoicing and payroll. We had a few clients who have been late in paying their invoices and Fundbox really helped us out when we needed them. Once the invoices were paid, we were able to repay early with a waiver of the remaining fees. I highly recommend.
I have a good experience with this company, the app is really simple to use and fast verification to get your capital .
I just wanted to drop a note to let you know how Katelyn B took care of me. She answered all the questions that I had, and helped me navigate through the portal site. She was very helpful and had such a great attitude. She is truly an asset to your company. Tim Tingle Owner Tuscaloosa Fire Equpment, Inc.
Katlyn was most helpful. She made me feel very welcome. There need to be more Katlyn's in the customer service world! Thank you!
Easy to use.....and Katelyn is great & informative....and you are inexpensive...36 dollars is cheap per week for 5000.00 loan
So easy had funds next day highly recommend!
Fundbox was there for me when I needed them. They made the entire process super easy and painless. After uploading a few simple documents my money was on its way to my bank. TY, Fundbox!!!
Fundbox has made doing business easier and less stressful for us. The process to withdraw funds is fast and simple. The fact that the funds are revolving really helps us have funds when we need them. Our customers often take 90 days to pay, so this resource truly helps us get by in between payments.
It was very easy to apply for and set up. Love that it links to my QuickBooks online! Matthew H my account representative is very responsive and helpful.
So easy to setup an account And the process to withdraw and to repay make it the best place to request a business loan.
Hello, Everybody or Anyone Reading this Review Right Now! I have to say Running A Small Business Is Very Challenging. I've Been in Business now for 5 Years and Cash Flow, Cash Flow, Cash Flow, is my #1 Problem until today. FundBox has awarded my company an opportunity to inject steroids into my cash flow therefore, Approval Process was very easy and smooth and fair. Thanks, Katelyn Bryant my Account Specialist For making my Experience Awesome! she is Great to work with and very knowledgeable not to mention funny and fun to work with. Brian Lollie
This is a great tool for my business! Easy to use!
Katelyn was very knowledgeable and was able to answer all my questions! She took the time to walk me through the all the functions and benefits of Fundbox and I am thrilled she will be our account specialist.
We are a construction company based in Brooklyn NY. We were referred to fundbox by a third party lender. Signup was very simple we got approval within hours. Have been using it since. Fabulous and very simple loan and payment program. To top it off my account manager Matthew is extremely knowledgeable and very helpful. Thanks
Let's Talk! My Account Specialist-Katelyn B not only keeps in touch with me to assure my funding needs for daily and future growth, have been and are being met. She took the time to review my website and to learn about my company and our future financial needs for continued growth. Where others were not, Account Specialist-Katelyn B providing approval care of Fundbox is with you. Humes c/o Humes McCoy Aviation, Inc.
Great to work with. Outstanding customer service.
Matthew H was excellent: professional, smart, responsive, attentive, and great to talk to. All around professional. Have had a great experience with your product and with the team. Keep it up, please!
My experience with FundBox has been incredible, from the first contact to getting funded. With the integration into our QuickBooks account, the process is so simple because they have access to your cashflow snapshot. Plus no early payment penalties. I highly recommend them.
The employees are super friendly and I absolutely love their funding structure