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Bluevine vs. Fundbox: Discover the Best Choice for 2022

If you’re looking for a business line of credit, Bluevine and Fundbox are two of the best online lenders available today. Both lenders offer lines of credit and have relatively low eligibility requirements. Explore them in this in-depth Bluevine vs. Fundbox comparison and see which lender is best.

bluevine-vs-fundbox
Sarah Brooks Personal Finance Writer and Editor
Personal Finance Writer and Editor

Bluevine vs Fundbox Overview

Bluevine Fundbox
Bluevine is a fintech company founded in 2013.. They offer checking accounts and small business lines of credit up to $250,000. Bluevine is backed by the FDIC and has an A+ rating with the Better Business Bureau (BBB).

Since 2013, the company has offered over $14 billion in funding. Some of the highlights of Bluevine’s service include its platform’s speed, flexibility, and ease of use. Moreover, they offer top-notch customer support.
Funbox was founded in 2013 and provides both term loans and lines of credit to small businesses. The company applies one of the lowest credit score requirements on the market (600) and uses a modern platform to streamline loan applications. Once an applicant gets approved, funds can be received as soon as the next business day.

Fundbox has worked with more than 300,000 small businesses since its inception, and it was ranked in the Forbes Top 500 among the best startup employers in 2021.


Bluevine vs Fundbox: Loan Features

Fundbox Bluevine
Term Length Line of credit: 12 or 24 weeks

Term Loans: 24 or 52 weeks
6 or 12 months
Repayment Period Weekly Weekly or monthly
APR Range Line of credit: Starts at 4.66% for 12 week terms

Term Loans: Starts at 8.33% for 24 week terms
Starts at 4.8%
Loan Amount $1,000 – $150,000 $5,000 – $250,000

Bluevine vs Fundbox: Line of Credit

Fundbox offers lines of credit up to $150,000 with 12 or 24-week terms. Bluevine, on the other hand, offers lines of credit up to $250,000 and provides six or 12-month terms. Because the terms are longer with Bluevine, you can expect lower monthly payments than you would with Fundbox.

Rates for a line of credit with Bluevine start at 4.8%. For Fundbox, rates start at 4.66% for 12-week terms. To qualify for the best rate, you’ll want to make sure your credit score is as high as you can get it. Here are eight ways you can build your business credit.

Other Loan features

In addition to a line of credit, Bluevine offers business checking accounts. There are no monthly fees, and you can earn up to 1.5% in interest. Having your business checking account with the same company your loan is through can simplify your small business finances.

Fundbox offers small business term loans in addition to their line of credit.Term loans enable borrowers to access a lump sum they can later repay over a longer period of time. The loan’s term length is 24 or 52 weeks, and the repayment is done on a weekly basis. Rates start at 8.33% for a 24-week term. The minimum loan is $1,000 and the maximum amount is $150,000.

Bottom line: Interest rates with both companies are comparable, but ultimately we choose Bluevine due to their larger loan amounts and longer terms.

bluevine review

Bluevine vs Fundbox: Interest Rates and Fees

Bluevine Fundbox
Origination Fees No No
Prepayment Fees No No
Late Payment Fees Yes - up to 5% of the missed repayment and the interest that has accrued Yes – for term loans
Maintenance Fees No No
Interest Rates Start at 4.8% Line of credit: 4.66% for 12-week terms and 8.99% for 24-week terms

Term loans: 8.33% for 24-week terms and 18% for 52-week terms
Discount Rate No Discounts available through coupons on weekly fees and different holidays and special occasions

Bottom line: Interest rates and fees for both Bluevine and Fundbox are similar. Because Fundbox offers discounts, though, we are going to go with them for the winner in this category.


Bluevine vs Fundbox: Loan Requirements

Bluevine Fundbox
Minimum Credit Score 625 600
Annual Revenue $120,000 (or $10,000 per month) $100,000
Time in Business 6+ months 6+ months
Other No bankruptcy within the past year The average monthly revenues and transaction volumes will also be taken into consideration

Bluevine Requirements

To qualify for a line of credit with Bluevine, business owners need a minimum credit score of 625 and to have been in business for at least six months. Annual revenue requirements are $120,000, or $10,000 per month. Bluevine also requires you to have not had a bankruptcy within the past year in order to get approved.

Fundbox Requirements

Funbox is an excellent choice for borrowers who have a low credit score and a short business history. You can qualify for a term loan or line of credit with a score as low as 600 and you only have to prove you’ve been in business for the past six months. Annual revenue of $100,000 is required, though. The company may also ask you to sign a personal guarantee when your application is approved and have a business lien.

Bottom line: Fundbox is the winner for this category, offering both lower credit score and annual revenue requirements.

fundbox vs bluevine

Loan Application Process

Bluevine Fundbox
Application complexity Low Low
Approval time Within five minutes In as little as three minutes
Funding Within 24 hours of approval As soon as the next business day

Bluevine's application process is straightforward and requires just two steps. First, you have to provide your personal and business details by filling in an online form. Afterward, your application will be reviewed and you should receive a funding decision in as little as five minutes. If you get approved for a line of credit, you will be able to make draws from your online dashboard within 24 hours.

Fundbox also offers a fast and straightforward application process. First, you’ll enter your personal and business details in an online form, which takes less than 10 minutes. You’ll then link your personal or business bank account to your Fundbox account. The platform uses a robust algorithm to assess applications and provide fast decisions. Once approved, you get a complete overview of your loan’s terms and fees and if you decide to move on, the funds can be available as soon as the next business day.

Bottom line: It’s a tie! Both Fundbox and Bluevine offer straightforward, simple online applications. You’ll receive a funding decision in less than five minutes with both companies, and funds can be in your account within 24 hours of loan approval.


Customer Support

Bluevine’s support team is available Monday through Friday from 8 AM to 8 PM by phone or email. If you want to speed up the communication process, you’re able to chat with them through Facebook or Twitter. A comprehensive FAQ section is also available on the company's website.

Fundbox offers multiple customer support channels. You can call the company Monday through Friday from 8 AM to 8 PM EST or contact them via email. You can also reach them on social media by chatting with an agent on Twitter. The company’s website features a vast Help Center with useful resources, as well.

Bottom line: It’s a tie, both companies offer great support with similar means of communicating.


User Reviews

Fundbox has 4.8 out of 5 stars on Trustpilot from more than 3,500 reviews. Top reviews include the straightforward process, the helpful service and support staff, and the quick approval times. Poor reviews mostly focus around fees not being disclosed and policy changes happening frequently.

Bluevine has 4.4 out of 5 stars on Trustpilot out of more than 7,000 reviews. Most customers had a great experience and appreciated the quick and simple process. Negative reviews revolved around not getting approved and having to make weekly payments as opposed to monthly.

Bottom line: Fundbox is the winner due to higher ratings overall.


Perks and Bonuses

Bluevine offers borrowers flexibility with how they choose to make their payments, accepting checks, credit cards, and ACH transfers. They also have an app which allows borrowers to request more funding or make a payment on the go. Other perks of Bluevine include a transparent, easy-to-navigate website and the option to enroll in automatic payment plans.

Fundbox has many of the same benefits as Bluevine, in addition to offering customers discounts on weekly fees. If you pay your loan off early, Fundbox will waive any fees that were charged in future weeks. They also occasionally send out coupons on holidays or other special occasions that are automatically applied to your next fee.


When to Choose Bluevine

Bluevine is a good choice for businesses in need of up to $250,000 who have been in business for at least six months. They also offer business checking accounts, allowing you to simplify your small business banking needs.

bluevine review

When to Choose Fundbox

Fundbox is a solid option for businesses who want a small business loan instead of a line of credit. We also recommend Fundbox if your credit score is hovering around the 600 mark. While their loan amounts cap out at $150,000, that may be all you need to expand your business or keep it up and running during a slow season. 
fundbox review


Bottom Line

Fundbox and Bluevine offer a smooth and fast application process, and they are among the lenders who also accept borrowers with lower credit scores. Based on the comparison criteria used above, we choose Bluevine as the overall winner for its generous eligibility requirements, streamlined application process, fast approval and funding, larger loan amount, and excellent customer reviews.

Frequently Asked Questions (FAQ)

Is BlueVine legit?

BlueVine is a legitimate company and a trustworthy lender. It usually receives positive customer reviews. BlueVine is accredited by the Better Business Bureau. It also has an A+ rating with BBB and it has been on the market for more than 8 years.

Is Fundbox legit?

Fundbox is definitely a legitimate business. It has an A+ rating with the Better Business Bureau (BBB). Trustpilot’s rating for this company is excellent - 4.8 stars out of 5. Fundbox was founded in 2013 and it worked with approximately 300,000 small businesses during this time.

How to get approved for a Bluevine Loan?

Bluevine is one of the lenders that have very relaxed eligibility criteria. Not many BlueVine competitors accept applicants who haven’t been in business for at least 1 year, but this company does. One of their main eligibility criteria is a credit score of 600+.