Fundbox offers lines of credit and invoice financing with flat rates based on your business’s financial health.

According to a 2015 study, approximately 45% of small business owners are turned down for financing more than once. It’s incredible and slightly horrifying how hard it can be to get the funds you need to grow your business or just keep it running smoothly.
If your personal or business credit score isn’t perfect you may find it even more difficult to get financed. However, there is a potential solution: Fundbox

$1,000

Min. Amount

$100,000

Max. Amount

Details

Product Name Fundbox
Min. Amount $1,000
Max. Amount $100,000
Loan Term 3 to 6 months
Min. Credit Score 500
APR 4.99
Requirements You must have an established business.

Application Criteria

  • Must have an established business with regular monthly revenue.

What makes Fundbox unique?

One of the ways Fundbox stands apart from other business lenders is that Fundbox places more emphasis on the financial health of your business rather than other factors like your credit score. By connecting to your bank account or bookkeeping software, they can assess just how your business is doing financially. That means your personal credit is out of the picture. You can qualify based on how your business is doing, not a past personal blunder.

Fundbox financing comes with weekly automatic repayments. All you have to do is make sure there’s enough funds in your connected account.

How exactly does Fundbox work?

Fundbox offers two borrowing options in one: a line of credit and invoice financing.

When you sign up with Fundbox, you’re taking out an unsecured line of credit. That credit line has a maximum draw limit of up to $100,000 and a minimum rate of 4.66% attached to it.

As you draw from your line, you pay the amount back over 12 or 24 weeks. Fundbox automatically debits the weekly repayments from your connected account. When a payment hits, the amount of the principal you paid back becomes available to draw from again.

To finance an invoice, you simply click “Clear This Invoice” on your Fundbox dashboard to receive 100% of the invoice value from your credit line.

What accounts can I link to Fundbox?

Fundbox offers business financing without requiring paperwork. Instead, you’ll link your accounting software to demonstrate your eligibility and financing needs.

Supported bookkeeping software includes:

  • Clio
  • Ebility
  • FreshBooks
  • Harvest
  • InvoiceASAP
  • Jobber
  • Kashoo
  • PayPal
  • QuickBooks Desktop
  • QuickBooks Online
  • Xero
  • Zoho Books

To make automatic repayments on the amount borrowed, you’ll need to link a business account. Fundbox can connect to over 12,000 financial institutions including national, regional, and local banks and credit unions.

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