Fundbox is an invoice financing service that allows small businesses to receive rapid funding for their unpaid customer invoices. We compiled reviews from our own website plus user reviews from around the web to determine what Fundbox customers think about the company. We also checked the fees that are most applicable for small business owners.
Fundbox Customer Reviews
Customer Service: Great
Summary of User Reviews
We scoured hundreds of reviews and found that Fundbox has generally positive ratings. Here’s what we found:
What Fundbox does well:
Users who gave Fundbox a positive review said the process was made really easy and simple by the service’s professional and helpful representatives.
What Fundbox does not do well:
Users who left negative reviews on the service said that Fundbox was an expensive option, with high annual percentage rates.
Most Helpful Positive User Review
“Needed to set up a client with moderate cash flow problems. This is an excellent short term solution.
Great bunch of people to work with. They assisted with my setup snags and took their time to walk me through. The whole process took an hour when I thought it would be endless. Special thanks to Basile Senesi for his patience and focus in getting us setup. Hope you guys are around for a long time!”
— Ira Warren Einhorn, CPA
Most Helpful Negative User Review
One user who gave Fundbox a 1-star review said the service was too strict with its credit limits, and that its APR was around 22% – 65%, which was too expensive for their relatively new business.
Other Fundbox User Reviews From Around the Web
Here are a few other resources for finding helpful Fundbox customer reviews. We rated the review sites on a scale from poor to excellent based on how trustworthy and useful the reviews seemed.
*Average rating as of date article was written: March 1, 2017
How We Determined Quality of User Review Websites
- Merchant Maverick has a staff review on the service. The review is very concise and gives specific details on the different features of the service, as well as its pros and cons.
- Trustpilot has several reviews on its website. Although some are short one-liners, there are also long reviews that give a lot of information to consumers. It’s important to note that most of the reviews on the site came from reviewers who Fundbox asked to review their company. This can positively skew the results as a company will most likely only ask users who had a positive experience to give them a review.
Fundbox Pricing & Other Details
|Credit Line||$100 to $100,000|
|Clearance Fees||4%-5% of total loan amount, depending on creditworthiness|
|Typical Annual Percentage Rates||38% to 54%|
|Repayment Period||12 and 24 weeks|
Fundbox provides small businesses with rapid funding based on their outstanding invoices. The amount is then paid off slowly in a 12-week or 24-week period, depending on the terms agreed upon. The amount is deducted on a weekly basis from the business’ bank account.
Once the financing is approved, the funds will be sent within 2 business days to the business account. Fundbox doesn’t charge repayment fees, which means you can pay back the advance in full before the period has ended, and Fundbox will waive all the remaining fees.