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.