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Fundbox Review: Fast Short-term Financing

Aug. 8, 2019
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  • Loan amount: $1,000 to $100,000
  • APR: Invoice financing: 10.1% to 68.7% for 12 weeks; 11.4% to 78.6% for 24 weeks. Line of credit: 10.1% to 79.8%.
  • Loan term: Equal repayments over a 12- or 24-week period for invoice financing; weekly repayments for up to 12 weeks for line of credit
  • Funding time: As fast as next business day for both invoice financing and line of credit
Apply now at Fundbox
Before you apply for Fundbox’s invoice financing and line of credit, find out whether you meet the lender's minimum qualifications.  
    For invoice financing:
  • 500 minimum personal credit score required
  • Minimum $50,000 annual revenue required
  • Must use online accounting software that can link to Fundbox, such as QuickBooks, FreshBooks, Harvest, Clio, InvoiceASAP, Sage One, Kashoo or Jobber
    For line of credit:
  • 500 minimum personal credit score required
  • $50,000 minimum annual revenue
  • Minimum three months in business
Do I qualify?

Fundbox, an online lender that offers invoice financing and lines of credit, is best suited to entrepreneurs who need to quickly fill a cash-flow gap.

Fundbox may be a good option for your business if you:

Have many unpaid customer bills: With Fundbox’s invoice financing, you can borrow up to $100,000 and get 100% of the value of invoices that you’re waiting for customers to pay.

Need very fast cash: Funding is as fast as the next business day for both invoice financing and line of credit.

Don’t meet requirements for other financing: Fundbox’s invoice financing requires $50,000 minimum revenue and at least three months of invoicing history with a supported accounting software. For lines of credit, you need to be in business for at least three months and have a minimum annual revenue of $50,000.

» MORE: Bad credit? Where to find business loans

In this review

Reasons to use Fundbox

Where Fundbox falls short

Reasons to use Fundbox

Fast access to cash

You can create a Fundbox account in less than a minute. For invoice financing, you connect your accounting software and pick an unpaid invoice to clear. Fundbox automatically transfers cash to your bank account, typically within one to two business days. To get your money as fast as possible, the company recommends clearing invoices before noon Pacific time Monday through Thursday.

With Fundbox’s line of credit, you can get access to funds as fast as the next business day, as long as you withdraw before noon Pacific time on a business day.

» MORE: Fast business loans: Compare best options for quick cash

Easy to qualify

With the invoice financing option, Fundbox requires $50,000 minimum revenue with at least three months of invoicing history in online accounting or bookkeeping software that can link to Fundbox, such as QuickBooks, FreshBooks, Xero, Harvest, Clio, InvoiceASAP, Sage One, Kashoo or Jobber.

To qualify for the line of credit, borrowers need to be in business for at least three months, have a minimum annual revenue of $50,000, and have a business checking account.

No personal guarantee or collateral

Fundbox doesn’t require a personal guarantee for lower credit limits, which means you’re not personally responsible for repayment if your business fails to repay a loan. Also, Fundbox borrowers don’t need to provide collateral, which is a physical asset such as real estate pledged as security for repayment of a loan.

Early repayment flexibility

Fundbox allows you to repay the invoice financing or line of credit early to save on fees, which lowers the annual percentage rate of your loan.

Customers aren’t contacted

Fundbox deals directly with you and won’t contact your customers with the invoice financing option. This feature is a good fit for a business owner who doesn’t want customers to know invoices are being financed, which typically isn’t an option with invoice factoring.

» MORE: How to use invoice factoring for your business

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  • Loan amount: $1,000 to $100,000
  • APR: 10.1% to 78.6% for invoice financing; 10.1% to 79.8% for line of credit


  • Easy to qualify
  • No personal guarantee or collateral
  • Early repayment flexibility
  • Your customers aren’t contacted for invoice financing


  • High cost
  • Funding tops out at $100,000
  • Must use compatible online accounting software such as FreshBooks or QuickBooks to qualify for invoice financing

Best for:

  • Poor credit, although borrowers with good credit are more likely to be approved and receive higher credit lines
  • Businesses that have unpaid invoices and need cash fast
  • Short-term working capital

The bottom line

Fundbox works best for businesses that are looking to turn unpaid customer invoices into fast cash or businesses that need a line of credit to address a short-term funding need.

Apply now

Back to top

Where Fundbox falls short

High cost

In invoice financing, you repay the loan in 12 or 24 equal weekly installments — depending on the frequency you choose — plus a fee. The fee is determined by a variety of factors, including the size of the advance, the length of the repayment term and how long you’ve been a Fundbox customer.

Depending on your fee amount, the repayment schedule you choose and how long you take to repay the advance, Fundbox’s APRs on invoice financing can range from 10.1% to 78.6%. The rates are higher than those traditional banks and some other online lenders. However, you can lower your APR by taking the 12-week repayment option and by repaying the loan early.

The APR on Fundbox’s line of credit ranges from 10.1% to 79.8%.

Funding tops out at $100,000

Fundbox provides financing of up to $100,000 only, which could be a problem for businesses that need more money. Businesses that have unpaid invoices and need to borrow more than $100,000 may find a better fit with BlueVine, an invoice factoring company that provides up to $2 million. Check out our side-by-side comparison of BlueVine and Fundbox for more information. Businesses that need a larger line of credit may find Lending Club, which provides up to $300,000, more appealing.

Compare business loans

If you’d like to compare loan options, NerdWallet has a list of small-business loans that are best for business owners. All of our recommendations are based on the lender’s market scope and track record and on the needs of business owners, as well as rates and other factors, so you can make the right financing decision.