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Fundbox Small Business Loans: 2024 Review

Updated Apr 19, 2024

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At a glance

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Rating: 4.5 stars out of 5
Bankrate Score
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Rating: 4.6 stars out of 5
Rating: 4.4 stars out of 5
Customer experience
Rating: 4.6 stars out of 5
Rating: 4.4 stars out of 5
Rating: 4.6 stars out of 5
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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.

Lender Details

  • Moneybag

    Loan amount

    Up to $150,000

  • Rates

    Interest rate


  • Clock Wait

    Term lengths

    12 or 24 weeks

  • Dollar

    Min. annual revenue


  • Business

    Min. time in business

    6 months

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, without 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 since Fundbox does not report positive account activity to the business credit bureaus.

Fundbox: in the details

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


  • Requires personal guarantee

  • Low maximum loan limit

  • Short repayment periods

Business loan types offered

Loan quick facts

  • Amounts: $1,000 to $150,000
  • Terms: 12 or 24 weeks
  • Amortized weekly fees: Starts at 4.66% for 12-week terms and 8.99% for 24-week terms

Fundbox business line of credit overview

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

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 personal 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 Fundbox compares to other lenders

With terms of either 12 or 24 weeks — and a maximum line of just $150,000 — Fundbox is designed for short-term expenses. Its relaxed eligibility criteria may be good for some business owners, but both Fundible and Backd offer similar options with much longer terms.

Rating: 4.5 stars out of 5

Bankrate Score

  • Loan amount

    Up to $150,000

  • Interest rate


  • Term lengths

    12 or 24 weeks

  • Min. time in business

    6 months

  • Min. business annual revenue


Rating: 4.7 stars out of 5

Bankrate Score

  • Loan amount

    $5,000-$10 million

  • Interest rate

    0.75% Monthly rate | 5.00% to 18% Simple interest

  • Term lengths

    1-10 years

  • Min. time in business

    6 months

  • Min. business annual revenue


Rating: 4.6 stars out of 5

Bankrate Score

  • Loan amount

    $10,000-$2 million

  • Interest rate

    1.10-1.24 Factor rates | 30.00% APR

  • Term lengths

    6-16 months

  • Min. time in business

    1 year

  • Min. business annual revenue


Fundbox vs. Fundible

While Fundbox does accept borrowers with fair credit, Fundible is one of the few business lenders that accepts personal credit scores as low as 450, according to a spokesperson. Its other requirements are similar to Fundbox. You will need to have been in business at least six months and have an annual revenue of $96,000.

Its lines of credit are much more flexible than Fundbox. Your credit limit could be as much as $500,000 with terms of 12 to 120 months. Combined with a starting simple interest rate of 6.00 percent, Fundible may be a better choice for lower monthly payments and more time to repay what your business borrows. 

Fundible also offers term loans, SBA loans and equipment financing in addition to its lines of credit. However, borrowers that meet the minimum requirements are unlikely to qualify for the best terms. Fundible states that its ideal borrower has a personal credit score over 680, two years in business and at least $450,000 in annual revenue.

Fundbox vs. Backd

Backd offers both term loans and lines of credit to its borrowers. And unlike Fundbox, Backd gives your business six to 12 months to repay what it draws. With similar requirements to Fundbox, Backd may be a good choice for businesses that want more time to use and repay their lines.

Its simple interest rates start at a high 18.00 percent, although Fundbox also has a high weekly fee that can translate into interest rates in the high double digits. Ultimately, these are very similar lenders. But Backd is able to fund loans within 24 hours, which may make it a better fit if your business needs quick financing and you prefer a longer repayment term.

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 7 p.m. EST. Call 855-572-7707 or send an inquiry to

Fundbox frequently asked questions

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.


Clock Wait
years in business
Credit Card Search
lenders reviewed
loan features weighed
data points collected

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 30 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.