The Best Fundbox Competitors &#038; Alternatives

Total Rating	4.8
Rates & Fees5.0
Services5.0
Eligibility Requirements4.9
Application4.5
Sales & Advertising Transparency4.4
Customer Service4.9
User Reviews4.9

Pros

Apply to multiple lenders with one application
Variety of funding options
High borrowing amounts

Cons

Funds take awhile to disburse

Why Lendio's Marketplace Can Offer You More Options Than Fundbox

If you’ve found Fundbox’s offerings to be too restrictive, you can save yourself a lot of time by using a service like Lendio. With just one application, you can receive offers from over 75 lenders, making it easy to find the best loan for your situation. There's no guarantee you'll get a better offer than you would from Fundbox, but Lendio can, at least potentially, offer better rates and terms.

Additionally, Lendio’s network offers more than just lines of credit and is more likely to be able to accommodate your specific circumstances. Just be aware that it will probably take longer to get your funds.

Unless you fall squarely into Fundbox's niche, we think there's little downside to throwing an application at Lendio to compare your options.

Lendio Services

Lendio offers a variety of funding options, including:

Short-term loans up to $500,000
Term loans up to $2 million
Lines of credit up to $500,000
Merchant cash advances up to $1 million
SBA loans up to $5 million
Equipment financing up to $5 million

Lendio Rates & Fees

Lendio’s rates and fees vary depending on the lender you are paired with and the specific product you are offered. For example, merchant cash advances will generally be more expensive than term loans. Your credit rating will likely also affect the rates you are offered.

Lendio Eligibility Requirements

Because Lendio works with a network of lenders, eligibility requirements vary from lender to lender. However, Lendio does recommend a credit score of 550 or higher to increase your chances of getting an offer.

When To Use Lendio Over Fundbox

You need something other than a line of credit
Your credit score is below 600
You need to access high borrowing amounts
You want to compare multiple lending options with a single application

Get Started With Lendio

American Express Business Blueprint: Best Line Of Credit Alternative To Fundbox

American Express Business Blueprint

Get Started With American Express Business Blueprint

Total Rating	3.6
Rates & Fees4.2
Services2.8
Eligibility Requirements4.0
Application3.5
Sales & Advertising Transparency4.0
Customer Service3.1
User Reviews3.0

Pros

No extra fees
Funds are disbursed quickly
Flexible term lengths

Cons

Information is scattered across company website
Rates can be expensive

Why American Express Blueprint Might Be A Better Line Of Credit For Some Businesses

American Express Blueprint (formerly Kabbage) offers a business line of credit similar to Fundbox, but with a little more flexibility when it comes to term lengths. We appreciate that American Express doesn’t charge origination fees or maintenance fees, so you’ll only incur costs on the money you’re using, making American Express Blueprint a potentially cheaper option than Fundbox.

Note that American Express does have minimum withdrawal amounts, which can vary depending on the term length of your line of credit.

American Express Blueprint Services

American Express offers lines of credit up to $250,000 with term lengths of 6, 12, or 18 months. The company does note that “only select customers receive initial line sizes over $150k,” so if you want to reach those high borrowing amounts you may have to meet strict eligibility requirements or wait patiently for line increases.

American Express Blueprint Rates & Fees

American Express Blueprint charges a fee for each month in which you have an outstanding balance. Total fees accumulated over the life of the credit line generally breakdown as follows:

3-9% for 6-month lines
6-18% for 12-month lines
9-27% for 18-month lines

American Express Eligibility Requirements

Eligibility for American Express Lines of Credit are as follows:

12+ months in business
660+ FICO score
$3,000 per month in revenue

You will also need your EIN, SSN, your business industry, and a connection to your business bank account in order to apply.

When To Use American Express Blueprint Over Fundbox

You have good credit
Your revenue is less than $100,000 year
You want a longer term length

OnDeck: Best Fast Funding Alternative To Fundbox

OnDeck

Total Rating	3.9
Rates & Fees4.6
Services2.9
Eligibility Requirements3.8
Application4.5
Sales & Advertising Transparency3.8
Customer Service4.1
User Reviews4.0

Pros

Multiple types of financing available
Application process is fast & easy
Funds are disbursed quickly

Cons

Rates can be expensive
Not available to some industries

We We Chose OnDeck As A Fast-Funding Alternative To Fundbox

OnDeck is similar to Fundbox in many ways. This alternative lender offers a quick and simple online application that can deliver a decision in just a few minutes, and you can receive your funds as soon as the same day.

While OnDeck has slightly more stringent qualifications, we find it offers more flexibility with an additional product option (term loans) and higher borrowing amounts.

OnDeck Services

OnDeck offers term loans up to $250,000 with repayment terms of up to 24 months. OnDeck also offers lines of credit up to $100,000 with repayment terms of 12 months.

OnDeck Rates & Fees

For OnDeck’s term loans, APRs range from 29.9% to 97.3%, with most borrowers paying an average of 55.8%. An origination fee of up to 5% may apply.

OnDeck’s lines of credit have APRs that range from 29.9% to 65.9%, with the average borrower paying about 52.6%. There are no origination fees, but a $20 monthly maintenance fee will apply to most borrowers.

OnDeck Eligibility Requirements

OnDeck’s eligibility requirements are as follows:

1+ years in business
625+ credit score
$100,000+ per year in revenue

You will also need an active business checking account in order to apply.

When To Use OnDeck Over Fundbox

A term loan is a better fit for your needs
You need to borrow more than $150,000
You need a longer term length

Get Started With OnDeck

Funding Circle: Best Fundbox Alternative For Mature Businesses

Funding Circle

Get Started With Funding Circle

Total Rating	4.2
Rates & Fees4.6
Services4.0
Eligibility Requirements3.8
Application4.3
Sales & Advertising Transparency4.8
Customer Service4.5
User Reviews3.2

Pros

Monthly repayments
No prepayment penalty
Long-term financing available

Cons

Origination fees may be high
Not available to some industries

Why Funding Circle Is A Better Lender For Mature Businesses Than Fundbox

Small businesses seeking a longer-term alternative to Fundbox may want to consider Funding Circle. With terms ranging between 6 months to 7 years, you’ll have plenty of time to pay back your loan. Even better, we've found Funding Circle's rates to generally be lower, and there's no prepayment penalty for paying it off early.

Funding Circle also offers a line of credit if you'd prefer more flexible financing comparable to Fundbox.

Funding Circle Services

Funding Circle offers term loans up to $500,000 with terms of up to 7 years. It also offers lines of credit up to $250,000.

Funding Circle Rates & Fees

Interest rates on Funding Circle term loans and lines of credit start at 4.49%. You can also expect an origination fee of 4.49% to 10.49% on term loans and a draw fee of 1.6% on lines of credit.

Funding Circle Eligibility Requirements

Funding Circle’s eligibility requirements are as follows:

2+ years in business
660+ credit score
$50,000 per year in revenue

You also must not have had any bankruptcies in the last seven years. Certain industries are also ineligible including weapons manufacturing, nonprofits, speculative real estate, and other high-risk industries.

When To Use Funding Circle Over Fundbox

You need long repayment terms
A term loan would serve you better than a line of credit
You have good credit

LoanBuilder: Best Short-Term Loan Alternative To Fundbox

LoanBuilder

Get Started With LoanBuilder

Total Rating	3.5
Rates & Fees4.1
Services2.9
Eligibility Requirements3.4
Application3.8
Sales & Advertising Transparency3.8
Customer Service2.8
User Reviews4.1

Pros

Borrower qualifications are lower than banks
No extra fees
Funds are disbursed quickly

Cons

A blanket lien is required
Not available to businesses in some industries

Why LoanBuilder Is A Great Short-Term Loan Alternative To Fundbox

LoanBuilder is a fast and easy-to-understand financing service offered by PayPal. Dealing exclusively in fast, short-term loans, LoanBuilder is a great way to get funding quickly with minimal extraneous fees.

Newer businesses, especially, will appreciate that LoanBuilder is willing to work with businesses as young as 9 months old.

LoanBuilder Services

LoanBuilder offers short-term business loans of $5,000 to $150,000. Loans are repaid over 13 to 52 weeks.

LoanBuilder Rates & Fees

LoanBuilder’s flat rates range from 2.9% to 18.72% of the amount borrowed.

LoanBuilder Eligibility Requirements

LoanBuilder’s eligibility requirements are as follows:

9 months in business
$33,300+ per year in revenue

LoanBuilder doesn’t currently disclose credit score requirements, but, in the recent past, they were 620+.

When To Use LoanBuilder Over Fundbox

A short-term loan is a better fit for your needs
You’re in an industry served by LoanBuilder
You need a slightly longer repayment term

BusinessLoans.com: Best Fundbox Alternative For Borrowers With Bad Credit

BusinessLoans.com

Get Started With BusinessLoans.com

Total Rating	4.0
Rates & Fees4.6
Services4.0
Eligibility Requirements4.1
Application3.0
Sales & Advertising Transparency3.6
Customer Service4.1
User Reviews4.4

Pros

High borrowing amounts
No minimum credit score
Quick & easy application

Cons

Funding can take awhile to disburse
Limited fee & rate information provided

Why BusinessLoans.com Is The Best Fundbox Alternative For Businesses With Bad Credit

BusinessLoans.com is a lending marketplace that offers funding options for businesses that may have had difficulty getting capital from other sources. With no minimum credit score and a minimum of 6 months in business needed to apply, we've found that small businesses stand a pretty good chance of getting funded.

Additionally, BusinessLoans.com offers more product types than Fundbox, and with much higher borrowing limits.

BusinessLoans.com Services

BusinessLoans.com connects borrowers to a variety of funding types, including:

Short-term loans
Long-term loans
Lines of credit
Merchant cash advances

BusinessLoans.com Rates & Fees

Rates and fees vary based on the lender and financial product you qualify to receive.

BusinessLoans.com Eligibility Requirements

BusinessLoans.com preferred qualifications are as follows:

6 months in business
$100,000+ per year in revenue

Note that BusinessLoans.com may still be able to serve businesses that can’t meet these preferred traits. BusinessLoans.com is also a great fit for all ranges of credit scores.

When To Use BusinessLoans.com Over Fundbox

You have poor credit
You need to borrow more than $150,000
You’d like to apply to multiple lenders through a single application

Business Loan & Funding Products Review Methodology

We spend hours researching and evaluating each business loan and funding product that we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings.

Weighted Rating Breakdown

Rates & Fees 20%

Services 20%

Eligibility Requirements 20%

Application 15%

Sales & Advertising Transparency 10%

Customer Service 10%

User Reviews 5%

When rating lenders and funding providers, we use a 31-point rubric that looks at rates and fees, services, eligibility requirements, application, sales and advertising transparency, customer service, and user reviews. We weigh each section differently to calculate the total star rating. This rubric is applied to traditional term loans, as well as short-term loans, start-up loans, lines of credit, online lending products, merchant cash advances, and equipment financing products.

Rates & Fees: 20% of the total star rating
Services: 20% of the total star rating
Eligibility Requirements: 20% of the total star rating
Application: 15% of the total star rating
Sales & Advertising Transparency: 10% of the total star rating
Customer Support: 5% of the total star rating
User Reviews: 5% of the total star rating

Each section is further broken down into granular, weighted subsections, in which we examine specific attributes like terms lengths, conditions of repayment, credit score and revenue requirements, ease of application, length of time to funding, the ethics involved in promoting the lending product, customer support, and the overall reputation of the lender or funding provider.

Read more about how we rate small business lenders.

How To Choose The Right Fundbox Alternative

Even with an overview of some highly-rated Fundbox alternatives, you still have a bit more work to do.

Here are the main steps you’ll need to take before before you start applying for a Fundbox alternative:

Determine If A Line Of Credit Best Suits Your Needs

Lines of credit allow you to draw against a credit limit within a specified period. You then pay interest on the amount of credit you’ve utilized.

Lines of credit are more flexible than term loans since you can assert a finer amount of control over how much money you receive. On the other hand, they can often come with more complexity and fees than comparable term loans. If you simply need a lump sum of cash, lines of credit can be overkill.

Determine How Much Money You Need

Fundbox offers a fairly low maximum borrowing amount of $150,000. If you think you’ll need more capital than that, you’ll probably want to start looking at alternatives immediately.

Figure Out How Long You Need To Pay Your Loan Back

Fundbox’s maximum repayment term is short — just 24 weeks. That can be a punishing repayment schedule for some businesses. If you think you need more time to pay back your loan, you should consider a lender that offers term loans.

Check Your Credit Score

Fundbox has a relatively low FICO credit score requirement of 600, which makes it an accessible option for most borrowers. However, if your credit score is lower, you’ll need to consider a lender that works with poor credit. Likewise, if your credit score is considerably higher, you may qualify for a product with better rates.

Apply And Compare Offers

It’s not a bad idea to apply to multiple lenders (or use a loan marketplace to save time) so that you can compare offers and accept the best one.

You will, however, want to check and see if the lender performs a hard or soft pull on your credit before extending an offer. Hard pulls, especially in close proximity, can temporarily lower your credit score.

Is Fundbox The Best Option For Your Small Business?

Fundbox provides credit decisions in just minutes, and if approved, you can immediately initiate your first draw and have cash in your bank account in as little as one business day. You don’t need great credit to qualify, so businesses that have trouble qualifying elsewhere may have success in obtaining a Fundbox loan. However, this comes with a trade-off of a short repayment window, low borrowing amounts, and potentially high rates.

The lenders above should give you a great starting point for researching alternatives. For additional options, check out our picks for best small business loans and best lines of credit for businesses.

Bio
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Chris Motola

Expert Contributor at Merchant Maverick

Chris has been writing about small business topics since 2003. He has been featured in Fox Business, ABC News, Yahoo Finance, GoBankingRates, Newsweek, BizJournals, and other publications. He has a Bachelor’s of Arts in English Writing Arts from SUNY Oswego, and a Masters of Science in Interactive Media from the University of Central Florida. He currently resides in the Hudson Valley region of New York.

View Chris Motola's professional experience on LinkedIn.

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1. Lendio

❮ ❯

Term loans, short-term loans, lines of credit, merchant cash advances
FICO: No minimum (550+ recommended)
APR: Varies by lender

2. American Express Business Blueprint

❮ ❯

Lines of credit
FICO: 660+
Interest rate: 3%+

3. OnDeck

❮ ❯

Term loans & lines of credit
FICO: 625+
APR: 29.9%+

4. Funding Circle

❮ ❯

Term loans & lines of credit
FICO: 660+
Interest rate: 4.99%+

5. LoanBuilder

❮ ❯

Short-term loans
FICO: Not disclosed
Flat fee: 2.9%+ of borrowing amount

6. BusinessLoans.com

❮ ❯

Term loans, short-term loans, lines of credit, merchant cash advances
FICO: No minimum
APR: Varies by lender