SuperMoney

Fundbox Business Lines of Credit

in Business Lines of Credit from Fundbox

Unaffiliated Visit Site

Fundbox Business Lines of Credit

Unaffiliated

in Business Lines of Credit from Fundbox

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend Fundbox Business Lines of Credit to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
APR  (Fixed APR) Starting at 18%
Credit Score Range 500 - 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 ranges from 18% 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 500 and up to 850 may be eligible for Fundbox Business Lines of Credit.

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
  • 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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

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 500 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 3
Minimum Revenue $50,000
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 18%
Loan Amount $100 - $100,000
Loan Term 3 - 6 months

Be the first to rate

 

Would you recommend Fundbox Business Lines of Credit to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

SUPERMONEY NET RECOMMENDATION SCORE

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.