The 6 Best Alternatives To Fundbox Small Business Loans & Lines Of Credit
Lendio, Funding Circle, OnDeck, Rapid Finance, Bluevine, & Kabbage: All of these vendors offer business lines of credit similar to Fundbox, but each also has a distinct advantage that sets it apart.
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When you need a flexible option for funding business expenses but a business credit card won’t cut it, a line of credit could fit the bill. To obtain a line of credit, more small businesses are bypassing banks in favor of alternative lenders that can provide easier access to funds. Fundbox is one such online lender offering a business LOC with an easy application and quick approval. However, Fundbox is not for everyone.
Fundbox provides credit decisions in just minutes, and if approved, you can immediately initiate your first draw and have cash in your bank account in as little as one business day. You don’t need great credit to qualify, so businesses that have trouble qualifying elsewhere may have success in obtaining a Fundbox loan. However, Fundbox’s maximum repayment term is short—just 24 weeks—and the maximum amount you can borrow is only $100,000.
Whether Fundbox doesn’t quite fit your needs or you’re just shopping around, there are similar lenders that may work better for your financial situation. In this post, we’ll explore alternatives to Fundbox to help you make the wisest financial choice for your business.
Learn More About Our Top Picks
| Company | Best For | Next StepsBest For |
|---|---|---|
Lendio  | Best for long-term funding. | Best for long-term funding.
|
Kabbage  | Best for businesses with a Kabbage or AMEX account. | Best for businesses with a Kabbage or AMEX account.
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OnDeck  | Best for fast funding. | Best for fast funding.
|
Funding Circle  | Best for established businesses. | Best for established businesses.
|
Rapid Finance  | Best for high-risk businesses. | Best for high-risk businesses.
|
Other Featured Options:
- BlueVine: Best for larger lines of credit.
Read more below to learn why we chose these options.
Table of Contents
Best Fundbox Competitors
The best Fundbox competitors are:
All of these vendors offer business lines of credit similar to Fundbox, but each has a distinct advantage that sets it apart. If Fundbox doesn’t meet your needs, there’s a good chance one of these Fundbox alternatives will.
1. Lendio
Lendio
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Shopping your options? Give Lendio a try. With just one application, you can receive offers from over 75 lenders, including Headway Capital, Fundation, and others, making it easy to find the best loan for your situation. Lendio’s network of lenders offer many different types of funding, including lines of credit.
You can receive up to $500,000 through Lendio’s network as a line of credit, which is significantly more than the limits of Fundbox’s financial product. Interest rates start at 8%, although some borrowers may receive interest rates as high as 24% based on a number of factors including, but not limited to, credit profile. Typical loan maturity for a line of credit obtained through Lendio is one to two years, significantly longer than Fundbox’s term.
Qualifying for a line of credit through Lendio’s network is simple. Minimum borrower requirements include at least $50,000 in annual revenue, a time in business of at least 6 months, and a personal credit score of at least 560. However, to get the highest borrowing amount and lowest interest rates, you must have a higher credit score and a solid business performance.
Pros
- Apply to multiple lenders with one application
- Long term lengths
- High borrowing amounts
- Funding options for startups & bad credit
Cons
- Takes 1-2 weeks to get funded
2. Kabbage
Kabbage
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Kabbage, owned by American Express, is another popular Fundbox alternative. Kabbage has a similar service to Fundbox in Kabbage Funding, which is a line of credit up to $250,000, with a term of 6, 12, or 18 months. You can qualify with fair credit (640 FICO), 12 months in business, and just $50,000 in annual revenues.
Unfortunately, these lines of credit are currently closed to new applicants who are not already Kabbage or American Express users. You can only join a waitlist to be notified when they start accepting new customers again.
If you have an existing Kabbage or American Express account, you may apply for Kabbage Funding line of credit. American Express Business Card Members might also consider applying for American Express Business Loans, which offers short- and medium-term loans up to $75,000.
Pros
- Fast funding
- Low borrower requirements
- No draw fees or other extra fees
Cons
- Not currently available to new customers
3. OnDeck
OnDeck
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OnDeck is similar to Fundbox in many ways. This alternative lender offers a quick and simple online application that can deliver a decision in just a few minutes, and you can receive your funds as soon as the same day.
OnDeck offers revolving lines of credit up to $100,000 with a 12-month repayment term that resets after each withdrawal. If you need more money, you may qualify for OnDeck’s short-term loans with maximum borrowing limits of $250,000 and terms up to 36 months. OnDeck has just one financing application and will determine which product best fits the needs of your business.
One thing that stands apart about OnDeck’s lines of credit is Instant Funding, which lets you withdraw funds and see them deposited in your account in just seconds. There is no extra fee for this feature.
OnDeck has pretty relaxed borrower requirements, but personal credit score is a factor for approval. All applicants must have a score of at least 600 to qualify for OnDeck’s term loans or lines of credit. Borrowers must also be in business for at least 1 year and have at least $100,000 in annual revenue.
Pros
- Same-day funding
- Instant withdrawals
- No draw fees
Cons
- High interest rates — APRs start at 35.9%
4. Funding Circle
Funding Circle
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Funding Circle can be a good Fundbox alternative for established businesses, as you will need at least 2 years in business, as well as a credit score of 650) to qualify for a Funding Circle line of credit.
Using a lending network (similar to Lendio) Funding Circle offers credit lines up to $100,000, with interest rates as low as 10.99%.
Because Funding Circle works with a lending network to offer its LOCs, similar to Lendio, your term length, repayment schedule, and other financing terms will vary depending on which lender they hook you up with. However, Funding Circle says that you can probably expect to pay draw fees.
If you want to borrow more money as a lump sum and pay it back over time, you might qualify for a term loan or an SBA loan through Funding Circle. These loans can be as large as $500,000, with term lengths up to 10 years.
Pros
- Potentially low interest rates
- Apply to multiple lenders with one application
- Long term financing options available
Cons
- Not for startups or bad credit
- Draw fees may be charged
Get Started with Funding Circle
5. Rapid Finance
Rapid Finance
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Compared to Fundbox, you can borrow more money from Rapid Finance and you’ll also have longer to repay the funds you withdraw. In addition to merchant cash advances and business term loans, Rapid Finance offers business lines of credit up to $250,000, with term lengths ranging from 3-18 months. The term resets every time you draw capital and is repaid via fixed, automatic daily, weekly, or monthly payments.
Specific terms an fess are disclosed on Rapid Finance’s website, but some merchants who have used the service say that their loans can be expensive. Overall, though, Rapid Finance has a lot of positive customer testimonials and many repeat customers who have been using their services for years.
Pros
- Bad credit-friendly
- High borrowing amounts
- Longer term lengths
- Multiple financing products available
Cons
- Expensive capital
- Terms and fees not disclosed on website
Get Started with Rapid Finance
6. BlueVine
BlueVine
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Like Fundbox, BlueVine offers a business line of credit with fast approvals—as quick as 5 minutes. One of the main differences, however, is that you can borrow up to $250,000 through BlueVine. BlueVine also offers longer repayment terms of 6 or 12 months. Repayments are made in 26 weekly installments with a 6-month term or in 12 monthly installments with a 12-month term.
It is a little more difficult to qualify for a BlueVine line of credit compared to Fundbox. The minimum requirements include a personal credit score of at least 600, minimum annual revenues of at least $120,000, and at least 6 months in business.
In addition to its lines of credit, BlueVine also offers an invoice factoring with lines up to $5 million and term loans up to $250,000.
Pros
- Interest rates as low as 4.8%
- High borrowing amounts
- Longer term lengths
- Multiple financing products offered
Cons
- Draw fees charged (1.6%-2.5% per draw)
- APRs can be high
How To Choose The Right Lender For Your Business
So now you have an overview of some highly-rated Fundbox alternatives. But you still have a bit more work to do.
Finding the right lender for your business is actually a multi-step process. You may have already completed some of these steps, but it’s important to go over them to make sure you didn’t miss anything before you start applying.
Here are the main steps you’ll need to take before choosing a business line of credit:
- Determine why you need a line of credit.
- Calculate how much money you need.
- Figure out how much capital you can actually afford to borrow.
- Check that your credit score is where it needs to be.
- Make sure a line of credit is the best funding type for you (for example, a term loan might be better)
- Research lenders that meet your criteria and that you qualify for.
- Start applying and comparing offers.
To learn about these steps in further detail, read How To Get A Small Business Loan: The Step-By-Step Guide.
In Summary: Best Fundbox Competitors
- Lendio: Best for long-term funding.
- Kabbage: Best for businesses with a Kabbage or AMEX account.
- OnDeck: Best for fast funding.
- Funding Circle: Best for established businesses.
- Rapid Finance: Best for high-risk businesses.
- BlueVine: Best for larger lines of credit.
Shannon Vissers
Expert Analyst & Reviewer at Merchant Maverick
The former editor-in-chief of SteelOrbis, Shannon has been researching and writing about small business software and financing since 2015. Her shopping and retail expertise has been cited in numerous publications, including Reader's Digest, MSN, Yahoo Finance, and GOBankingRates . She has also published articles for LIVESTRONG.COM, eHow, Life'd, and other websites. Shannon attended San Diego State University, graduating in 2005 with a BA in English.
View Shannon Vissers's professional experience on LinkedIn.
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