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Fundbox

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79 User Reviews

7.2

Overall Score

LAST UPDATED: September 13th, 2021

Fundbox was founded in 2012 and started offering its invoice financing 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 small business owner mother struggle with cash flow in her staffing business in Israel.

The company's goal is to help small businesses maintain adequate cash flow by reducing the wait time for customers to pay invoices. Fundbox aims to address a more narrow and immediate need: paying business owners for the work they've already done. 

As an online lender, it also offers lines of credit and term loans as working capital. 

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.

Fundbox has a minimum FICO score requirement of 600. The higher your credit profile, the more favorable terms you'll qualify for as the borrower. 

You can find Fundbox reviews below to see how Fundbox funding measures up against other business loan providers.

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The Good

  • Fast Credit Decision
  • Flexible Requirements
  • Flexible Funds
  • Fundbox Reviews

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 for a revolving line of credit: 

  • A business bank account (specifically a checking account) 
  • At least two months of activity in supported accounting software
  • An ideal minimum of $100,000 in annual income (but you can still apply if you have less)
  • A business based in all 50 states in the United States or these U.S. territories: Guam, American Samoa, North Mariana, Islands, Puerto Rico, and U.S. Virgin Islands

To receive net terms on business purchases you make through Fundbox, you need the following to qualify:

  • A business bank account (specifically a checking account) 
  • At least three months of transactions if you use the business checking account as your data source on your Fundbox credit application
  • A minimum of $25,000 in annual income
  • A business based in all 50 states in the United States or these U.S. territories: Guam, American Samoa, North Mariana Islands, Puerto Rico, and 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. 

Flexible Requirements

Fundbox underwrites Direct Draw business loans—which go up to $150,000—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, but Fundbox does require a minimum credit score of 600. 

There is also 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.

Fundbox Reviews

Fundbox reviews are overwhelmingly positive, highlighting a quick and easy loan application and process, a user-friendly online portal, and impressive customer service. With such a satisfied customer base, you can have peace of mind knowing Fundbox is a quality lender that puts its customers' needs at the forefront of its business. 

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The Bad

  • 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

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Attention: Fundbox only offers up to $150,000 in financing options. 

By contrast, many financing companies offer closer to $500,000 or $1 million in funding. 

With Fundbox funding being limited, small business owners may need to research other short-term financing options from alternative lenders. 

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The Bottom Line

To recap, Fundbox strives to help small businesses maintain good cash flow through invoice financing, reducing the wait time for customer invoice payments. 

The lender also offers lines of credit and term loans. There is no origination fee with the term loan and no prepayment penalty with either loan type. 

Unlike traditional lending institutions, Fundbox has taken the things that matter most 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. 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. 

Before applying, make sure your business meets their business owner eligibility requirements:

  • A FICO score of at least 600 
  • A business checking account
  • Two months of activity in accounting or payroll software 
  • A minimum of $25,000 to $100,000 in annual revenue, depending on your loan type (invoice financing, line of credit, or term loan)

Fundbox succeeds when the businesses that use it succeed, and its products reflect that. However, if your business operates outside of the United States and its territories or you need to borrow more than $150,000, you're out of luck.

Business owners considering Fundbox financing should read through Fundbox reviews below to get a better grasp of what the company has to offer. Currently, the majority of reviews note the company as a quality lender with competitive offerings, giving Fundbox a competitive edge over lenders with a less-satisfied customer base.

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Message from
Fundbox

Fundbox is an AI-powered financial platform for small businesses that offers fast and intuitive access to business credit. Since our founding in 2013, nearly 300,000 small businesses have put their trust in us. We build deep relationships with our customers that grow as they interact with us.

Small businesses need financial tools to help them grow so they can make strategic investments at the right moment. Our mission is to unlock the potential of small businesses by giving them financial agility and peace of mind. Finance isn't the reason they started their business in the first place, so we'll take on that work so they can focus on what they do best.

Our mission is to deliver peace of mind to small businesses. We serve ambitious businesses of all sizes that are relentlessly trying to improve everyday.

We take a few things seriously:

Being Bold We’re not afraid to tackle big problems that no one has solved yet.

Engaging with Customers Building lasting relationships with our customers is our top priority.

Making Smart Decisions We build technology that makes our customers’ lives better and gives them access to tools previously unimaginable.

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Star Rating

4.9

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79 Reviews

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5%

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1 grade

1%

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Featured Review

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LEE GOLDSTICKER Broadview Heights, OH

Fundbox was and is the bridge Lazy Lee needed during these changing times. Being able to draw against receivables is allowing us to grow without taking on any partners.

7 months ago

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Featured Review

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Edward Freeman Bushnell, FL

The fact that Fundbox will pick up the phone when you need them, says a lot! This is a great company to work with, and the funds that your approved for are there when you need them. Once your in, your in. You don't have to requalify for funding every time you want to use your credit-line. Lastly the rates are very fair, and you get to decide how much interest you want to pay when you draw funds from your account. This isn't a traditional MCA it's much better for the small businesses that need access to Cash 24/7 Fundbox is your One Stop Shop!!

6 months ago

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Wil Jr Ocoee, FL

The best funding company by far. I have experience with many banks and other business loan companies and it is always a hassle. Fundbox makes it's easy, quick, and at a very reasonable rate.

1 month ago

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Jon York Union City, NJ

So far, so good. Fundbox has worked exactly the way they advertise. I wish the interest rates were a little (a lot) lower, it definitely makes me think twice before using them. But, when you're in a cash crunch and waiting on a slow client to pay - it really comes in handy. The money is literally in my account the next business day. So far support has been awesome. Very personal and quick to get me an answer to question I had. Flex Pay - they recently started this and it's pretty handy for those times when you need to pay a vendor that normally withdraws their money from your bank account. This is like a virtual bank account. Give the vendor the account & routing numbers and they'll take it out of your Fundbox account. That has also come in handy once or twice so far, while I was still waiting to get paid by the slow payers. All in all I wish I never had to use it, but back here in the real world where small and medium-size businesses do need a line of credit, it has worked out perfectly.

5 months ago

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Review Source

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Sergio Casas-Silva San Diego, CA

Fast, efficient and affordable, we couldn't be happier thus far with our experience with Fundbox, they've been interested in our company and attentive to our needs.

2 months ago

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Scott Cowan Scottsdale, AZ

The process of using Fundbox is very easy and also very transparent. The terms and conditions of use are also very clear and to the point. No personal guarantees required, no loads of data to be reviewed, no waiting for a decision, payments are set up weekly, term is at choice either 12 weeks or 24, no prepayment penalties, no leaving my office to go meet with them, no deposits required, fees are very reasonable, no minimum bank balance. What else do you need? I wish I had thought of this business back in the day. It makes total sense to the small business owner with a track record of steady growth, sustained but maybe uneven cash flow, good credit and no BS.

1 year ago

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Review Source

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raymond caron Orlando, FL

excellent service, very prompt and ready to answer questions

1 month ago

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Jay H Preston City, CT

So far really enjoyed using Fundbox and implementing it into our business. Easy process and easy repayment process. Look forward to establishing a relationship and building more credit so it can accelerate our business inventory purchasing process. Our rep Matthew has been very attentive and called a couple times to make sure everything has been going smoothly for us. Thanks again for an easy process.

1 year ago

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Joshua Garno Detroit, MI

Most microloans charge interest on the first day whether you pay back the loan early or not. Fundbox only charges interest if you have a balance so if you pay it back early then you save any interest that would have been paid. The system is very easy since it uses your accounting software to approve your microloan and it's instant so it really helps especially with clients that take a long time to pay.

1 year ago

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Brian Lollie Richmond Hill, GA

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

2 years ago

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Humes c/o Humes McCoy Aviation, Inc. Atlanta, GA

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.

2 years ago

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Alisa S. Gwynn Oak, MD

Fundbox makes it easy! The customer service has been top notch. The approval process was smooth and the credit line was available immediately. Also, the rates are better than average. I look forward to growing my business with Fundbox.

1 year ago

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Lilly S Las Vegas, NV

I love using Fundbox. I got my funds within 2 days and it gave the capital I needed fast and easy. The interest on it is much lower than some of the other options I came across and you can pay off early with no penalty. I strongly recommend fundbox to anyone who is considering them for business landing.

1 year ago

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Michael Hairston Norfolk, VA

Chris made the process for me simple and easy from start to finish. Also the payments are fair and it's such a relief to find a company that do not lock you into long term loans. I was amazed how easy and the flexibility was with fundbox. I am 1 satisfied customer again thank you Chris!!!!

2 years ago

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Abdul Haddad Cary, NC

Love the process. Simple, efficient and straight forward. I didn't have to submit any paperwork, send bank statements or anything. Just added my credentials for Quickbooks account and Fundbox did everything else. My money was in the bank by next business day.

2 years ago

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Julie Parker Indianapolis, IN

Application process was smooth and quick. An abundance of customer service. Draws fund very quickly and the online interface is extremely intuitive even for a beginner. It gives me great peace of mind to know that I have the Fundbox LOC to draw upon whenever I may need it. Thumbs up!!

2 years ago

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Melanie Koerperich

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.

2 years ago

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Tim Tingle Tuscaloosa, AL

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.

2 years ago

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Kristin Martinez Bakersfield, CA

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.

2 years ago

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Hershy from Structure Brooklyn, NY

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

2 years ago

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Wágner dos Santos Orlando, FL

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.

4 years ago

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Will W Atlanta, GA

The instant approval process was nice and when I needed help my account specialist Katelyn was super easy to get in touch with and spent a good 20 mins with me on a call explaining everything I needed to know.

1 year ago

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Patterson Management Group Woodbridge, VA

Fundbox is an efficient process. I have never submitted an application and gotten an approval so fast. Thank you for believing in my business, I look forward to our partnership!

1 year ago

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Rebecca Baldwin Liverpool, NY

Fundbox has been a great resource for our business. It allows us the ability to keep a reliable cash flow when AR is slow to come in. No hidden fees, and easy and quick to use. Love it!

1 year ago

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JODI L FRANKLIN Tallahassee, FL

Fast, easy, and hassle free! Which is very important to me because I am a small business business owner and I am always busy. I would recommend them to anyone needing funding for their business.

1 year ago

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John Woodland Hills, CA

Fundbox is a great product and was especially helpful for getting funding for my new business when other options failed. Great app for access to account and repayment info and easy access to customer service.

2 years ago

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Tony Los Angeles, CA

Diego is very friendly, knowledgeable, helpful and coreous. What an nice interface with a money lender. Good job. Without the heavy New York accent. Well done Fundbox for choosing your representatives wisely.

2 years ago

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Robert Hurst Colorado Springs, CO

Fundbox has been wonderful to work with. Not only is the cost of the funds reasonable the website is easy to navigate and very informative. Fundbox will be an important part of my business plans for many years to come.

2 years ago

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Mark DeCoursey Lenexa, KS

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!!!

2 years ago

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Tynisha B Columbia, SC

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.

2 years ago

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Chris McCraley Rego Park, NY

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!

2 years ago

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Dirk Elliott Arlington, TX

Very easy to set up and start using. This line of credit will give me peace of mind when having to make payroll while waiting on checks to come in and process. Thank you!

1 year ago

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Ginnie Halling Bowling Green, KY

Fundbox helped our company meet short term cash flow needs twice in 2019. It was simple, efficient and no hidden penalties for early repayment. A very good service!

1 year ago

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Con tho Sacramento, CA

Easy , fast approval , get the money deposit next couple day to your account. It helps so much with growing businesses with extra help from Fundbox. Thank you so much

1 year ago

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Alicia Troy, VA

Very simple and easy to use. Straightforward you get all the info and things are easy to read. Very pleased with everything would definitely say check them out!

1 year ago

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Marilyn Mensching Saint Charles, IL

I received a call from Soniya S today about my account and she was awesome about helping me fix a problem with connection to my bank that has been occurring for several weeks. Great customer service!

2 years ago

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Michael Fox Tarrytown, NY

Fund box is so easy to use and convenient. I never worry about cash flow anymore. From the initial application to the online experience, fund box is fantastic!

2 years ago

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Jennifer Armstrong North Stonington, CT

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.

2 years ago

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HUSHAM H OMER Brooklyn, NY

Fundbox great customer service fast response and they will get your needs done!

6 months ago

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Melissa Tuala ,

They are very fast to fund and also very helpful if you have issues. Great customer service

7 months ago

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Andrea Godsave Minnetonka, MN

This company does not have the means to help. We have been a customer, had a 50,000 credit limit. Used and paid it off several times, have a 800+ credit score, and today they dropped my limit to 1,000. What a joke. This may be the time that I actually need it. they are protecting their money, not caring about their customers. They are greedy, and hurt small companies more than they help.

1 year ago

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North Bay Mercantile Niceville, FL

Simple. Seamless. Every small business should sign up because at some point or another a great buying opportunity will present itself. A great business relationship.

1 year ago

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Zachery Hysong Inwood, WV

Smooth process. As a FreshBooks user, I was able to connect to Fundbox easily and quickly, and requesting credit was fast and easy.

1 year ago

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Gin Gypsum, CO

Very easy to use and efficient. The dashboard when you log in is simple to navigate and provide all information needed from an accounting standpoint.

1 year ago

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Rejean Rheaume Manchester, NH

Fundbox made it so easy for us to get their services. Highly recommend this company! Thank You Fundbox and a shout out to Matthew H 😊

1 year ago

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Paisal Lertpatanakul Chicago, IL

I've been borrow from FundBox many times. It easy and fast funding to my bank account. Thank you Funding Box for help out when I need it.

2 years ago

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Patrick m Houston, TX

Very easy and straightforward. They make it simple to withdraw and the payback options are easy and you are always updated of upcoming payments

2 years ago

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b*factor

Katlyn was most helpful. She made me feel very welcome. There need to be more Katlyn's in the customer service world! Thank you!

2 years ago

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Cantex Dedicated Freight Service, LLC

Easy to use.....and Katelyn is great & informative....and you are inexpensive...36 dollars is cheap per week for 5000.00 loan

2 years ago

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John Boynton Luverne, MN

They approched me on freshbooks and offered me cash for some of my receivables and I tried them out. seems to work good with weekly payback schedules

1 year ago

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