Fundbox Small Business Loans Review

#8 in Small Business Loans

Fundbox is an online service that offers funding and loan solutions to small businesses. The company helps eliminate cash flow gaps, optimize cash flow and help advance thousands of invoices weekly by clearing and advancing payment for unpaid invoices. Fundbox also eliminates net 30, 60 and 90-day problem with its product and deep data analytics.

Features and Services

Fundbox offers cash flow management services for freelancers and small business owners. Clients can create a free Fundbox account in less than a minute. As soon as your account is created, you can now sync your bookkeeping app and then automatically see your outstanding invoices which you can clear.

Once your account is activated, clients can now clear their invoices and select any of their unpaid invoices and get the funds transferred to their bank account. Funds usually arrive in your bank account on the following business day as soon as the invoice is cleared.

The company sets a minimum qualification for borrowers. Clients must have at least six months of activity in an online bookkeeping and accounting software that can be sync to Fundbox website. It includes Invoice ASAP, Sage One, Clio, Xero, QuickBooks, Harvest and FreshBooks. The company does not require minimum time in business, credit score and minimum revenue to qualify for small business loans.

The first repayment day is the next Wednesday from when you clear an invoice – e.g. if you clear an invoice on Tuesday, your first repayment will be the following Wednesday. It offers 12 weekly instalments with up to $100,000 in loans. The company will automatically debit 1/12th of the invoice plus the weekly fee for 12 weeks from your bank account. Fundbox provides fee calculator on their website to have an estimation fee for your small business loans based on your invoice amount.

Fundbox’s clearing fee is set automatically based on accounting data. The company offers 100% advance funding of the invoice value with no upfront and origination fee.  

Plan Details

Loan Amount

Up to $100,000

Loan Terms

12 weekly instalments

Interest Rates

5 - 7% of invoice value

Fixed Interest Rates

Variable Interest Rates

Down Payment

Loan Fees

Closing Cost

Guarantee

Other Fees

Prepayment Penalty

Loan Application

Online Application

Personal Credit Profile

Business Credit Profile

Approval Time

As little as 3 hours

Local Branches

Available Nationwide

Application Time

WITHIN MINUTES

Mobile App

Qualifications

U.S. Citizen

Good Credit

✗ 

Bankruptcy

Years in Business

Not Required

Qualified even with bad credit

Help and Support Services

Email Support

24 Hour Telephone Support

Live Chat

FAQs

Small Business Loans at Fundbox

Fundbox is a wise option for small business loans because it provides a variety of business funding solutions. The company offers a flexible repayment plan with no minimum revenue, time in business and credit score requirement.  A no obligation, no subscription, no origination and no hidden fees are just some of the points that makes Fundbox a must check place for small business loans.

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