BlueVine vs. Fundbox: Which Online Lender Can Meet Your Funding Needs?

Fundbox and BlueVine may both be alternative lenders offering lines of credit, but they have key differences you should know.
Best for flexible financing
BlueVine
BlueVine
4 out of 5 stars
4.0
  • Icon Pros  Dark
    Large funding amounts available
  • Icon Pros  Dark
    Multiple financing options
Best for bad credit
Fundbox
Fundbox
3.6 out of 5 stars
3.6
  • Icon Pros  Dark
    Low approval requirements
  • Icon Pros  Dark
    Fast funding

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 more types of financing, while Fundbox has lower borrower requirements. 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.

How BlueVine and Fundbox compare

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 pretty different financing options and borrower requirements.

Loan offerings

Fundbox offers just one type of business financing, while BlueVine gives you two different options. (BlueVine typically offers three options, including business term loans, but it isn’t offering term loans at the moment.)

BlueVine vs. Fundbox financing options

Lender
Financing type
Loan min./max.
Lowest listed rate
Get a loan

BlueVine

Invoice factoring

Up to $5 million

0.25%/week

BlueVine

Line of credit

$5,000/$250,000

4.8%

Fundbox

Line of credit

$1,000/$100,000

4.66% draw rate

Data effective 6/13/21. At publishing time, offerings are current but subject to change. Offers may not be available in all areas.

Line of credit

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.

Megaphone
Fundbox's line of credit
Fundbox used to call its line of credit Fundbox Direct Draw. These days, it just refers to its business line of credit―no special name necessary.
Invoice factoring

BlueVine also offers invoice factoring. This type of financing lets you submit unpaid invoices to BlueVine to then get up to 90% of the invoice amounts. When your customers pay their outstanding invoices, that payment goes directly to BlueVine (but don’t worry―BlueVine does its best to make sure your customers don’t notice any difference). Then you’ll get the remaining percentage of that invoice, minus BlueVine’s weekly fees.

We should note that Fundbox used to offer invoice financing (known as Fundbox Credit), but that product has been discontinued.

Borrower requirements

As you can see, BlueVine has a clear advantage when it comes to funding offerings. But when it comes to borrower requirements, Fundbox suddenly looks a whole lot better.

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).

BlueVine vs. Fundbox borrower requirements

Loan type
Min. credit score
Min. revenue
Min. time in business
Get a loan

BlueVine invoice factoring

530

$10,000/mo.

3 mos.

BlueVine line of credit

600

$10,000/mo.

6 mos.

Fundbox line of credit

500

$50,000/yr.

3 mos.

Data effective 6/13/21. At publishing time, offerings are current but subject to change. Offers may not be available in all areas.

Note that BlueVine has different requirements for its different financing types. For example, its invoice factoring is much easier to qualify for than its term loans or lines of credit.

Even with that in mind, Fundbox has lower requirements overall. It will accept a minimum credit score of 500 (technically a “Poor” FICO credit score). BlueVine, however, requires at least a 530 (still poor) and a much higher 600 (a “Fair” FICO score) for its better financing.

Likewise, Fundbox has much lower revenue requirements. You can qualify for Fundbox with just $50,000 per year in revenue. But to get a BlueVine loan, you’ll need $10,000 a month in revenue―which comes out to $120,000 a year, or more than twice Fundbox’s requirements.

The two lenders get a little closer when looking at the minimum time in business. Both lenders will accept businesses as young as three months, though that will qualify you for only invoice factoring through BlueVine. To get its LOC, you’ll need to have been operating for at least six months.

Pin
Typical bank borrower requirements

For reference, traditional lenders often require a credit score in the high 600s, revenue over $200,000 a year, and at least two years in business.

In other words, it’s much 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.

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Application, approval, and funding process

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.

Customer reviews

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

BlueVine has a 4.5 out of 5 on Trustpilot, while Fundbox has a slightly higher 4.7 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.

BlueVine: Best for flexible financing

Strengths
Pro Bullet Simple, quick application process
Pro Bullet Large funding amounts available
Pro Bullet Financing for various needs and qualifications
Weaknesses
Con Bullet Limited availability in some states
Con Bullet Higher revenue requirement

BlueVine can meet a wide range of financing needs, thanks to its multiple funding products.

Take its invoice factoring, for example. BlueVine’s invoice factoring has relatively low borrower requirements (except that $10,000 a month revenue requirement). That makes it a workable solution even for young startups or businesses with less-than-perfect credit.

On the other hand, that same invoice factoring can give you up to $5 million in funding. Yes, you’ll probably need some solid qualifications to get a credit limit that high. But if you’re a bigger business with bigger needs, BlueVine can meet those too.

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: Best for bad credit

Strengths
Pro Bullet Automated application
Pro Bullet Low approval requirements
Pro Bullet Fast funding
Weaknesses
Con Bullet Low maximum loan amounts
Con Bullet High APR

If you’ve got poor credit, you often have limited business funding options. Luckily, you can still get money through Fundbox.

Fundbox has some of the lowest borrower requirements we’ve seen this side of a merchant cash advance (which we don’t recommend). Business owners with bad credit, young businesses, and businesses still building their revenue can all qualify for financing with Fundbox.

Now, we’ll be honest: 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 bad 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 bad 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.)

FAQs about BlueVine and Fundbox

Does Fundbox check credit?

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.

Does Fundbox report to credit bureaus?

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.

How much does Fundbox cost?

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.

Want more options? Fund your business with a personal loan.

The takeaway

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.

Check out these related pages for more info: National Funding Review, Jobs Saved by PPP Loans, Business Expansion Questions, What Type of Business Loan is Best for You, Small Business Loan Terms, What is Day Trading, or How to Qualify for Business Financing

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.

Sources
1. Trustpilot, “BlueVine.” Accessed June 13, 2021.
2. Trustpilot, “Fundbox.” Accessed June 13, 2021.

Chloe Goodshore
Written by
Chloe Goodshore
Chloe covers business financing and loans for Business.org. She has worked with many small businesses over the past 10 years, from video game stores to law firms. Those years watching frustrated business owners try to sift through their many options gave her a passion for breaking down complex business topics. She wants to help business owners spend less time agonizing over their businesses so they can spend more time running them.
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