BlueVine vs Fundbox

Rebecca Graham
Rebecca Graham | Contributor

BlueVine and Fundbox are highly reviewed companies with similar goals: to help small businesses obtain the cash they need to survive and thrive.

The lenders both offer business lines of credit. 

The main difference between the lending solutions offered by each of them is in the loan types offered. Where BlueVine provides access to fast working capital, term loans, and invoice factoring, Fundbox specializes in helping businesses maintain adequate cash flow through invoice financing, so companies don't have to wait for their customers to pay invoices.

BlueVine logo verified_user
#19 BlueVine
6.9 Overall Score
4
starstarstarstarstar_border
(28)
Fundbox logo verified_user
#12 Fundbox
7.1 Overall Score
4.9
starstarstarstarstar_half
(71)

Overview

BlueVine

Fundbox

Max Loan Amount
Max Loan Amount
$5 Million
$100k
Lowest APR Rate
Lowest APR Rate
14.00%
4.66%
Origination/Closing Fees
Origination/Closing Fees
None
None
Time to Funding
Time to Funding
1 Day
1 Day
Time In Business
Time In Business
7 Years
7 Years

Ratings

BlueVine

Fundbox

Overall Score
Overall Score
6.9 of 10
7.1 of 10
Review Score
Review Score
4.0
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4.9
starstarstarstarstar_half
Value for Money
Value for Money
3.8
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4.6
starstarstarstarstar_half
Quality of Product or Service
Quality of Product or Service
4.0
starstarstarstarstar_half
4.8
starstarstarstarstar_half
Customer Service
Customer Service
4.1
starstarstarstarstar_half
4.8
starstarstarstarstar_half
Company Trustworthiness
Company Trustworthiness
4.1
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4.8
starstarstarstarstar_half
Likely to Recommend
Likely to Recommend
7.5 of 10
9.4 of 10

Reviews

BlueVine

Fundbox

Number of Reviews
Number of Reviews
28
71
Review Breakdown
Review Breakdown
4.0
starstarstarstarstar_border
5 star
75%
4 star
0%
3 star
0%
2 star
0%
1 star
25%
4.9
starstarstarstarstar_half
5 star
93%
4 star
6%
3 star
0%
2 star
0%
1 star
1%

Reviews for BlueVine

Helpful Favorable Review

starstarstarstarstar

Thommy Sandvick

October 30th, 2020 Orlando, FL DETAILS arrow_drop_down
Value for your money
starstarstarstarstar
Quality of product or service
starstarstarstarstar
Customer service
starstarstarstarstar
Company trustworthiness
starstarstarstarstar

BlueVine has been great to work with! I am an IT contractor for a big global corporation and their payroll processes sometimes cause trouble with cashflow. BlueVine has been an absolute life saver. Everyone I've encountered has always been extremely willing to help and very fast to reply to any inquiries I have had. I'd highly recommend!


Helpful Critical Review

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Kenneth B Semler

October 30th, 2020 Inwood, WV DETAILS arrow_drop_down
Value for your money
starstar_borderstar_borderstar_borderstar_border
Quality of product or service
starstar_borderstar_borderstar_borderstar_border
Customer service
starstar_borderstar_borderstar_borderstar_border
Company trustworthiness
starstar_borderstar_borderstar_borderstar_border

BlueVine doesn't stand behind what they promise. I was provided with a line of credit that I didn't need but doing good business means you get credit lines when times are good so you have them when times are bad. They mislead you on the interest rate charged so it looks like 10.99% for mine, but that was for 6 months. The annual rate would be 22%! Well, when I needed it, they pulled it. Even after I took their advice and did a small draw and paid it for 4 months. Don't do business with a company like this!


Reviews for Fundbox

Helpful Favorable Review

starstarstarstarstar

Will W

October 30th, 2020 Atlanta, GA DETAILS arrow_drop_down
Value for your money
starstarstarstarstar
Quality of product or service
starstarstarstarstar
Customer service
starstarstarstarstar
Company trustworthiness
starstarstarstarstar

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.


Helpful Critical Review

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Andrea Godsave

October 30th, 2020 Minnetonka, MN DETAILS arrow_drop_down
Value for your money
starstar_borderstar_borderstar_borderstar_border
Quality of product or service
starstar_borderstar_borderstar_borderstar_border
Customer service
starstarstarstar_borderstar_border
Company trustworthiness
starstar_borderstar_borderstar_borderstar_border

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.


The Final Word

Fundbox has an edge over BlueVine by virtue of its higher customer review score, a slightly lower bar for minimum eligibility, and nationwide availability.

However, both companies are worth your consideration. The decision depends on your financing needs: if you're applying for $100,000 or less through a line of credit, we recommend Fundbox. If you need more cash or want to pursue invoice factoring, look into BlueVine. 

Invoice Funding

Fundbox utilizes invoice financing, which means it uses your business's invoices as collateral to determine how much it will lend you via a revolving line of credit. 

BlueVine does invoice factoring, where it will buy unpaid invoices from you at a discount, providing you with cash, and then get paid back by the debtors.

For this option, borrowers receive 85 to 90 percent of the invoice value upfront and must pay a one percent fee per week for the advance. For example, for a $20,000 invoice advance for 12 weeks, BlueVine initially keeps $3,000 of the loan advance. $600 of that advance will be paid as a rebate to the business when its customer pays the invoice in full.

Variety of Loans

Where Bluevine offers lines of credit, term loans, and invoice factoring, Fundbox specializes in lines of credit only. 

Maximum loan amount

Fundbox offers up to $100,000 with a revolving line of credit. 

With a BlueVine business line of credit, customers can receive a revolving credit line up to $250,000. With a BlueVine term loan, customers can get a lump sum of funds up to $250,000. With BlueVine invoice factoring, customers can get funds based on outstanding invoices of up to $5 million.

Eligibility 

To qualify for a loan with BlueVine, your credit score must be at least 530 or above and your business must have been in business for at least six months. 

Fundbox has a lower minimum FICO score requirement of 500 and a minimum bank account transaction record of three months. 

State Availability 

BlueVine's lines of credit and term loans are available in all states except North Dakota and South Dakota. 

Fundbox lines of credit are available throughout the United States. 

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