Fundbox Small Business Loans Review

Fundbox Small Business Loans is a business financing offering by Fundbox, based in San Francisco, CA. Founded in 2013, Fundbox offers access to business loans in 50 states (and Washington, DC).

What are Fundbox Small Business Loans’s rates?

Fundbox Small Business Loans offers a fixed APR business financing product that ranges from 7% APR up to 59% APR.

Does Fundbox Small Business Loans charge an origination fee?

No, Fundbox Small Business Loans does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does Fundbox Small Business Loans set on the purpose of the loan?

Fundbox Small Business Loans considers loan 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

What types of business loans does Fundbox Small Business Loans offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Fundbox Small Business Loans provides access to the following business loan types:

• Lines of Credit
• Invoice Financing

Does Fundbox Small Business Loans charge prepayment fees?

No, Fundbox Small Business Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Fundbox Small Business Loans?

Loan amounts start at $1,000 and go up to $100,000.

What is the maximum loan term you can get with Fundbox Small Business Loans?

Fundbox Small Business Loans offers business loans with terms ranging from 3 to 6 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Fundbox Small Business Loans?

Fundbox Small Business Loans requires companies to be in business for at least 3 months. Businesses must have a minimum annual revenue of $50,000 to be considered.

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

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

• Proof of income
• Proof of identity

What is the estimated funding time for a business loan via Fundbox Small Business Loans?

Fundbox Small Business Loans can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.