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Fundbox Business Lines of Credit

in Business Lines of Credit from Fundbox

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Fundbox Business Lines of Credit

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in Business Lines of Credit from Fundbox

Net Recommendation Score 0

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

APR  (Fixed APR) Starting at 4.66%
Credit Score Range 600 - 850
Loan Amount $100 - $100,000

Fundbox Business Lines of Credit Review

Fundbox Business Lines of Credit is offered by Fundbox, a financial services company founded in 2013 and based in San Francisco, CA. Fundbox Business Lines of Credit is available in 50 states (and Washington, DC).

Fundbox Business Lines of Credit FAQ

What APRs does Fundbox Business Lines of Credit offer?

Fundbox Business Lines of Credit offers a fixed APR product that starts at 4.66% APR.

Does Fundbox Business Lines of Credit charge an origination fee?

No, Fundbox Business Lines of Credit does not charge an origination fee. An origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does Fundbox Business Lines of Credit set on the purpose of the line of credit?

Fundbox Business Lines of Credit considers line of credit applications for business purposes, such as:

  • Business Debt Refinance
  • Emergency Repairs
  • Equipment Purchase
  • Hiring
  • Inventory
  • Lease Improvement
  • Marketing
  • New Location
  • Payroll
  • Product or Service Expansion
  • Technology Investment
  • Working capital

Does Fundbox Business Lines of Credit charge prepayment fees?

No, Fundbox Business Lines of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit balance off early.

How much can you borrow from Fundbox Business Lines of Credit?

Line of credit amounts start at $100 and go up to $100,000.

What is the maximum term you can get with Fundbox Business Lines of Credit?

Fundbox Business Lines of Credit offers business lines of credit with terms ranging from 3 to 6 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.

What do you need to qualify for Fundbox Business Lines of Credit?

Applicants with a credit score of at least 600 and up to 850 may be eligible for Fundbox Business Lines of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Fundbox Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Fundbox Business Lines of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Fundbox Business Lines of Credit. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Proof of identity

What is the estimated funding time for the Fundbox Business Lines of Credit?

Fundbox Business Lines of Credit can approve (or deny) a line of credit application within 1 hour and fund business lines of credit within 1 business day of approval.

What are the business financing requirements for Fundbox Business Lines of Credit?

To apply for Fundbox Business Lines of Credit, the applicant needs to provide the following documentation:

  • Business license
  • Business bank account

Does Fundbox Business Lines of Credit report your account activity to credit bureaus?

Yes, Fundbox Business Lines of Credit reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

What types of business lines of credit does Fundbox offer?

Fundbox only offers unsecured lines of credit.

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Message From Fundbox Business Lines of Credit

Connect business accounts like your bank account and accounting software. Get a credit decision right away. If approved, click to draw funds directly from your Fundbox account. Only pay when you draw funds. Repay early and save. With fast, reliable funding through Fundbox, get the flexibility you need to take advantage of whatever opportunities come your way.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 7:00pm
  • Tuesday 7:00am - 7:00pm
  • Wednesday 7:00am - 7:00pm
  • Thursday 7:00am - 7:00pm
  • Friday 7:00am - 7:00pm
  • Saturday Closed

Other Services by Fundbox

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Application Fee $0
No Origination Fee
No Prepayment Fee
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 600 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Months in Business 6
Minimum Revenue $100,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Business Debt Refinance
  • Inventory
  • Payroll
  • Hiring
  • Technology Investment
  • Other (All)
  • Marketing
  • Emergency Repairs
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 3 days
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
APR (Fixed APR) Starting at 4.66%
Loan Amount $100 - $100,000
Loan Term 3 - 6 months

Fundbox Business Lines of Credit Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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