Bluevine vs. Fundbox 2022

Bluevine and Fundbox are two popular fintech companies, using technology to make business financing easier than ever. So how do they actually stack up against each other?

Well, Bluevine offers two types of financing to Fundbox's one, while Fundbox has slightly lower borrower requirements (and a lower borrowing limit). That means that, for many businesses, one of the two lenders will be a much better fit.

To help you figure out which company fits your particular needs better, we’ll break down all the key similarities and differences between Bluevine and Fundbox―and we’ll tell you what kinds of businesses can benefit from each lender’s strengths.

Bluevine and Fundbox are both online lenders that offer small-business financing to business owners. As online lenders (also called alternative lenders), their financing is easier to qualify for than traditional business loans from banks and other traditional lenders.

When it comes down to it, though, they have slightly different financing options and borrower requirements.

Both Fundbox and Bluevine offer just one type of business financing: business lines of credit. (Bluevine used to directly offer invoice factoring, but the company now offers it indirectly through third-party FundThrough. We'll talk more about that later on.) 

Both Bluevine and Fundbox offer business lines of credit (LOCs). An LOC from either lender will give you a credit limit you can borrow against. So you can borrow money, repay the money you borrowed, and then borrow more money.

But how much can you borrow? Well, that depends on which lender you go with. You can get a much higher credit limit with Bluevine than you can with Fundbox―more than double, in fact. Just remember that your actual credit limit will depend on your borrower qualifications (which we’ll come to in just one minute).

Bluevine also gives you longer to repay each credit draw. An LOC repayment term at Bluevine ranges from 6 to 12 months, while the repayment term at Fundbox ranges from 12 to 24 weeks.

But regardless of term length, Fundbox and Bluevine both require (automatic) weekly payments on their lines of credit.

Bluevine also offers invoice factoring via a third party, FundThrough. This type of financing lets you submit unpaid invoices to then get up to 90% of the invoice amounts. When your customers pay their outstanding invoices, that payment goes directly to FundThrough. 

Pretty much all lenders require borrowers to meet certain business loan requirements. Both Bluevine and Fundbox have looser requirements than most traditional lenders (by far).

As you can see, Fundbox has slightly lower lending requirements overall, including a lower FICO credit score and lower minimum revenue. For the most part, though, the two lenders have similar borrower requirements.

This is quite a change from last year: Fundbox and Bluevine used to have vastly different borrower requirements. Fundbox's business lines of credit were much easier to secure for those with lower FICO scores and an annual income. But the COVID-19 economy changed quite a lot in the world of small business and lending. So while Fundbox is slightly more accessible to business owners with lower credit scores, Fundbox and Bluevine are now nearly neck-and-neck when it comes to lending requirements.

In other words, it’s slightly easier to qualify for Fundbox financing than Bluevine funding. But if you have higher revenue and credit qualifications, Bluevine gives you more funding choices―and more favorable borrowing terms.

Fundbox and Bluevine have pretty similar application and approval processes. They both use fancy algorithmic technology for their approval process. Sounds boring, but it means you can get approved much more quickly than you would through a traditional lender.

To apply to either lender, you’ll need to answer a few basic questions about yourself and your business (think name, location, etc.). Then the lender will need to connect to your business bank account. Its technology looks at your bank account history and decides whether or not to approve you.

(Don’t worry―Fundbox and Bluevine both have a history of keeping their customers’ data safe. You should be fine connecting your bank account.)

With Fundbox, you should get an answer in just a few minutes. Bluevine also offers near-instant approval on its invoice financing, but for its business loans and lines of credit, you should expect to wait at least a few hours to get approved (usually it takes less than 24 hours).

Once you’ve been approved, you can get your funding. In many cases, Fundbox can get you your money within one business day. Bluevine offers same-day funding if you pay a $15 wire transfer fee, or you can wait one to three days for free funding through an ACH transfer.

Assuming you get your financing, will you be happy with it? Well, according to customers of both lenders, probably.

Bluevine has a 4.4 out of 5 on Trustpilot, while Fundbox is at a 4.8 out of 5.^1,2 Those are both excellent scores that indicate tons of positive reviews.

Positive reviews for Bluevine rave about good customer service interactions, helpful account managers, and the fast funding process. We also saw praise for Bluevine’s low interest rates. The negative Bluevine reviews, on the other hand, complain that the automated application didn’t work properly or that Bluevine placed surprise freezes on lines of credit.

Fundbox reviews largely praise its fast and simple application process, along with the quick funding process. Some reviewers even say that Fundbox offers fair pricing for its funding. Negative reviews, though, sometimes complain about Fundbox’s fees. They also complain about low credit limits and the weekly repayment schedule.

But again, as you can see, most customers have really good things to say about Bluevine and Fundbox. Based on their experiences, you’ll probably have a good borrowing experience with either lender.

Even so, we want you to have the best possible experience. So let’s talk about which lender you should choose.

Thanks to its business lines of credit and third-party invoice factoring, Bluevine can meet a wider range of financing needs than Fundbox can.

Via Fundbox, Bluevine’s invoice factoring has relatively low borrower requirements. It's a fairly workable solution even for young startups or businesses with less-than-perfect credit.

Add in a business line of credit and you’ve got a variety of financing products that can meet all sorts of business needs. Whether you need immediate cash flow (with invoice factoring) or just some steady working capital (through a line of credit), Bluevine can help.

Put simply, Bluevine’s financing is flexible enough to work for many businesses―as long as you can meet its slightly higher borrower requirements.

For a more thorough analysis of Bluevine, check out our Bluevine review.

Fundbox's borrower requirements are slightly lower than Bluevine's. Most importantly, it accepts applications from business owners with a credit score of 600, which falls in the "poor" credit range. (In contrast, Bluevine requires a "fair" credit score.) 

We’ll be honest, though: You won’t get the lowest rate or the highest credit limit when you get a line of credit through Fundbox. But you’ll still get a credit line that you can use for all sorts of working capital needs.

Compare that to other financing options available to business owners with poor credit, like invoice factoring or merchant cash advances. Only certain types of businesses can qualify for those in the first place. And it’s a one-time funding deal. Fundbox, on the other hand, works for many types of businesses and lets you borrow over and over again.

So if you’ve got poor credit (at least for now), then Fundbox may be one of your best business funding options.

If you want even more details on Fundbox, you can take a look at our Fundbox review.

Bluevine and Fundbox both offer business financing, but they go about that in pretty different ways. Bluevine has more versatility, but it also has higher borrower requirements for those products. Fundbox offers only lines of credit, but its loose borrower requirements make it more accessible.

But whether you choose Bluevine or Fundbox loans, you’ll be choosing a lending company with many positive reviews and a good reputation behind it. So go ahead and feel confident in whatever you decide.

Not sure Bluevine or Fundbox sounds right for your business needs? No worries―you can find plenty of other options in our rankings of the best small-business loans.

Yes, Fundbox checks your credit score as part of its application process. It performs a soft pull, so it shouldn’t affect your credit score.

And don’t worry―Fundbox has low credit requirements. You can get approved with just a 500 personal credit score.

No, Fundbox doesn’t report to credit bureaus. So you can’t build your credit with a Fundbox line of credit―but you won’t hurt your credit score either.

Fundbox’s fees start at a 4.66% drawing fee, also described as 0.4% a week. Your exact fees will depend on things like your borrower qualifications, your repayment term, and your credit limit.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.