Kiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Kiah Treece Loans WriterKiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Written By Kiah Treece Loans WriterKiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Kiah Treece Loans WriterKiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina.
Loans Writer Jordan Tarver Lead Editor, Mortgages & LoansJordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf.
Jordan Tarver Lead Editor, Mortgages & LoansJordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf.
Written By Jordan Tarver Lead Editor, Mortgages & LoansJordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf.
Jordan Tarver Lead Editor, Mortgages & LoansJordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf.
Lead Editor, Mortgages & LoansUpdated: Apr 16, 2024, 9:13pm
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Fundbox is an AI-based alternative lender that offers small business owners short-term lines of credit and loans to help with operating costs. The lender has a low minimum credit requirement and doesn’t charge borrowers application fees, origination fees or prepayment penalties. Still, annual percentage rates (APRs) on lines of credit extend up to around 80%, which makes the lender an expensive option for most borrowers.
Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.
Loan amounts $1,000 to $150,000 Time in business Minimum credit scoreFundbox may be a good fit for:
At a minimum, businesses must be based in the U.S. and have a business checking account to qualify for a line of credit through Fundbox.
However, Business loan applications are approved or declined based on a number of factors. All lenders have their own unique underwriting requirements, but these typically include information from an applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as business revenue. Meeting the requirements below won’t guarantee approval, but they can help you decide if a business loan is the right fit for you.
Borrowers must have a minimum personal FICO Score of 600 to qualify for a Fundbox line of credit. This is lower than required by other short-term lenders like Kabbage and means that financing is accessible to business owners with fair credit.
Ideally, a business should be in business for at least three months before applying for a line of credit through Fundbox.
Prospective borrowers must demonstrate at least $30,000 in annual revenue to qualify for a line of credit through Fundbox. To demonstrate this, applicants must provide at least three months of transaction history in a business checking account or two months of approved accounting software records.
Prospective borrowers can apply for a line of credit through the Fundbox website. Follow these steps to get started:
As of Nov. 15, 2022, Fundbox has an A+ rating from the Better Business Bureau (BBB) and has earned 4.74 stars based on 408 customer reviews. Similarly, customers give Fundbox a 4.8-star rating on Trustpilot based on 3,223 reviews.
Positive reviews report that the lender’s application process is streamlined and that funds are received quickly. Other customers share that it’s easy to draw against the line of credit and that automatic payments simplify borrowing. Negative reviews are less common, but some borrowers report issues with an unresponsive customer support team and limited online resources.
We reviewed Fundbox based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated Fundbox based on the weighting assigned to each category:
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms and applicable fees. We also looked at minimum credit score and time in business requirements and the geographic availability of the lender. Finally, we evaluated Fundbox’s customer support tools, borrower perks and features that simplify the borrowing process—like online applications, prequalification options and mobile apps.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.
Interested in a Fundbox Business Loan?
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Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
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