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6.3

Overall Score

2 User Reviews

Fundbox Ltd 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. Fundbox aims to address a more narrow and immediate need: paying business owners for the work they've already done.

 

The Good

  • Fast Credit Decision
  • No Personal Credit Check
  • Flexible Funds

Fast Credit Decision

If you're looking to fund a growth investment or business exppense, 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 process that gives you a credit decision in hours, allowing you to make faster, smarter financial decisions with your limited time.

  • 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

No Personal Credit Check

Fundbox provides an inititial credit decision that's independent from your personal finances. Whether your credit score has been impacted by the sacrifices you've made to start your business, or whether you're trying to keep your personal and business finances separate, Fundbox gives you more control over the funding process.

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.

Check rates with Fundbox

The Bad

  • Limited to the United States
  • Short-Term Financing
  • Fees Vary

 

Limited to the United States

Currently, Fundbox only offers advances 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 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 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.

The Bottom Line

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 you to seek funding and use your new resources for any business endeavor. At the same time, by eliminating personal credit prerequisites and aligning its pricing with what's best for your business, you get more control over your funding decisions. 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.

User Reviews

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  • 10

    August 21st, 2017 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.

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  • 10

    August 3rd, 2017 Ridgewood, NY

    The employees are super friendly and I absolutely love their funding structure

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