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Fundbox business loans: 2023 review

2023-06-01 16:10:43
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At a glance

Overall Score 4.5
Overview Founded in 2013, Fundbox helps small business owners access the credit needed to move their companies forward. It currently offers a flexible business line of credit to fair credit borrowers in all 50 states and U.S. territories.
Loan amount: $1,000-$150,000
Amortized weekly fee from: 4.66%
Term lengths: 12 or 24 weeks
Minimum credit score: 600

Who Fundbox is best for

Fundbox may appeal to borrowers with lower credit scores seeking fast funding solutions. It’s also a good fit if you prefer a streamlined lending experience, minus the massive documentation requirements. You should also generate consistent revenue and be able to repay draws rather quickly if you want to avoid weekly fees.

Who Fundbox may not be best for

Borrowers with good or excellent credit may qualify for more competitive rates elsewhere. Fundbox also isn’t a good fit if you need to borrow more than $150,000. And if you’re looking to build business credit, consider other lenders, as Fundbox does not report positive account activity to the business credit bureaus.

Fundbox pros and cons


  • Checkmark

    Accessible to borrowers with lower credit scores

  • Checkmark

    Soft credit check upon application

  • Checkmark

    Next-day funding available

  • Checkmark

    No prepayment penalties


  • Close X

    Requires personal guarantee

  • Close X

    Low maximum loan limit

  • Close X

    Short repayment periods

Business line of credit

The business line of credit from Fundbox is unsecured and provides access to working capital of up to $150,000. You can access funds as needed through Fundbox’s website or app and select a flexible repayment plan that works for your company’s finances. You’ll pay a weekly fee instead of interest as long as there’s an outstanding balance. Or you can minimize or avoid borrowing costs if you repay early. 

Fundbox charges a $6 nonsufficient funds fee.

Do you qualify? 

Here’s what you’ll need to qualify for a line of credit from Fundbox: 

  • A U.S.-based business that’s been established for at least six months 
  • An ownership stake of at least 25 percent
  • A personal FICO score of 600 or higher
  • At least $100,000 in annual revenue 
  • An active business checking account with at least three months of transaction history

You should also know that Fundbox does not fund companies in adult entertainment, online gaming, online gambling, marijuana, firearms, ammunition, nonprofit or financial sectors. 

What we like and what we don’t like

Fundbox makes it easy for both startups and established business owners to access working capital.

What we like

  • Accessible to borrowers with lower credit scores: The minimum credit score requirement is just 600 to qualify for funding. 
  • Soft credit check upon application: You can check your approval odds without impacting your credit score. After approval, Fundbox will conduct a hard credit pull when you first use your credit.
  • Next-day funding available: Most applicants receive a lending decision in as soon as three minutes, and if approved, funds are often accessible as soon as the next business day
  • No prepayment penalties: Fundbox does not charge early repayment penalties if you repay the balance before the loan term ends. In fact, it waives any remaining fees for the rest of the loan term.

What we don't like 

  • Requires personal guarantee: Borrowers must provide a personal guarantee, which is a promise to repay the loan if they default. If you fail to repay, Fundbox could sue you for your personal assets.
  • Low maximum loan limit: The limit of $150,000 may not be large enough for companies looking to make large purchases or significant investments.
  • Short repayment periods: You'll have to repay each draw within 24 weeks at the most. If your cash flow is inconsistent and you borrowed a large amount, keeping up with weekly payments could be a challenge.

How to apply for a loan with Fundbox 

When you’re ready to apply for funding, visit the website and select the “Apply” button found on the right header. You’ll need to provide at least one of the following: 

  • Access to accounting software or business checking account 
  • Copy of most recent tax return (if you’re not using one of the above options)
  • Authorization for a soft credit pull

Customer support is available by phone and email Monday through Friday from 8 a.m. to 8 p.m. EST. Call 855-572-7707 or send an inquiry to

Fundbox FAQs

How Bankrate rates Fundbox

Overall Score 4.5
Accessibility 4.6 Though Fundbox’s max amount could be higher, they get points for fast funding and a low minimum amount.
Affordability 4.4 Fundbox’s starting rate is reasonable, though its weekly fees make comparison with other lenders tricky.
Transparency 4.4 Fundbox discloses its eligibility requirements, though it doesn’t report payments to credit bureaus.
Customer experience 4.6 This lender gets points for its highly rated app and its online application.
Flexibility 4.6 Fundbox’s website mentions term loans but it’s unclear whether they’re available yet.


To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 20 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

Written by
Allison Martin

Allison Martin’s work began over 10 years ago as a digital content strategist, and she’s since been published in several leading financial outlets, including The Wall Street Journal, MSN Money, MoneyTalksNews, Investopedia, Experian and

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