BlueVine vs. Fundbox: Cost, Terms & Which is Best 2018

We compared the costs, terms and features of BlueVine vs. Fundbox to determine who provides the best short-term financing. Fundbox is great for business with unpaid invoices needing a simple line of credit (LOC) up to $100,000. BlueVine is better if you need a LOC up to $250,000 or have business-to-business (B2B) invoices and need up to $5 million.

BlueVine vs. Fundbox at a Glance

	BlueVine	Fundbox
Financing Products	Invoice Factoring & Small Business Line of Credit (LOC)	Single Product for Multiple Needs
Funding Amount	Factoring: $5,000 – $5 million LOC: $5,000 – $250,000	$1,000 – $100,000
Weekly Interest Rate	Factoring: Starting at 0.25% LOC: Starting at 0.2% – 1.2%	Starting at 0.5% – 0.7%
Advance Rate	85 – 90% (Invoice Factoring Only)	1
Repayment Terms	Factoring: With Invoice Payment LOC: 6 or 12 months	12 or 24 weeks
Credit Score	Invoice Factoring: 530+ Line of Credit: 600+	No minimum requirement
Time in Business	Invoice Factoring: 3+ months Line of Credit: 6+ months	6+ months
Annual Revenue	$100,000+	Ideally $50,000+
Application Speed	10 minutes or less	10 minutes or less
Speed to Funding	24 hours	24 hours
More Information	Visit BlueVine	Visit Fundbox

When to Use Fundbox

Fundbox is a good choice if your business has unpaid invoices and needs a line of credit up to $100,000. Fundbox will advance you 100 percent of your invoice value, which is 10 to 15 percent higher than BlueVine. Plus, a wide range of borrowers can qualify since there is no minimum credit score. When considering BlueVine vs. Fundbox, for these reasons Fundbox is our best overall choice.

Visit Fundbox

When to Use BlueVine

BlueVine is great if your business needs more than $100,000 in invoice financing or prefers a line of credit product since they’re our recommended business LOC. Plus, BlueVine’s advance rates of 85 to 90 percent on its invoices factoring product are lower than Fundbox. Even though you’re borrowing against specific invoices, BlueVine won’t communicate directly with your customers.

Visit BlueVine

When to Use BlueVine or Fundbox Alternatives

If your business doesn’t have unpaid invoices, you need more than $5 million, or you need a LOC above $250,000, then you should consider a BlueVine or Fundbox alternative. For a LOC over $250,000, consider one of the best business line of credit providers. If you have unpaid invoices and need more than $5 million, then one of the best invoice factoring companies is a better option.

How We Evaluated BlueVine vs. Fundbox

One of the popular Fundbox competitors for short-term financing is BlueVine since they both offer financing against unpaid invoices. It can be hard for businesses to identify the best lender. To help you, we compared the features of BlueVine vs. Fundbox that matter to businesses to determine who’s best. Our primary criteria included the funding amount you’ll receive, price you’ll pay and repayment typical terms.

Based on your wants, the criteria used in our evaluation of BlueVine vs. Fundbox included:

Interest rate: What interest rate BlueVine and Fundbox will charge you
Funding amount: How much you can borrow from Fundbox and BlueVine
Advance rate: What percentage rate you can expect to be advanced against your invoices when comparing BlueVine vs. Fundbox
Repayment terms: How quickly you’ll need to pay back your advances and how the advances will be repaid
Speed to funding: How quickly BlueVine and Fundbox will provide you with access to the funds you need
Qualifications: What factors are considered by Fundbox and BlueVine when evaluating your business as a potential borrower

When comparing BlueVine vs. Fundbox against your borrowing wants and needs, Fundbox is our best overall choice. This is because its simple financing product allows you to advance 100 percent against your total invoice balance up to $100,000. Because there is no minimum credit score requirement, businesses in many situations can qualify. So, its financing is widely available.

How Financing with BlueVine vs. Fundbox Works

BlueVine and Fundbox both offer financing against your unpaid invoices. However, BlueVine also offers a line of credit not tied to your invoices. With BlueVine, you can advance up to 85 percent on specific invoices up to $5 million, or you can get a simple line of credit up to $250,000. If Fundbox considers your business healthy, you can borrow 100 percent of your unpaid invoices up to $100,000.

How Financing with Fundbox Works

The primary way Fundbox decides if it will offer financing is by reviewing your invoice and financial history using your accounting software. You need to have at least three to six months of satisfactory ongoing invoicing activity to get approved. You can request draws of $100 or more at any time up to your approved limit. You’ll repay your advances in fixed weekly installments.

How Financing with BlueVine Works

Should you choose a BlueVine business line of credit, your advances are not based on unpaid invoices. Instead, your approval is based on your creditworthiness. If approved, you can request advances in $500 increments up to your credit limit — your first draw has to be at least $5,000. You’ll pay back each draw over six or 12 months with fixed weekly or monthly payments. The better your credit, the longer you can get to repay.

With BlueVine invoice factoring, you can get invoice advances of up to 85 percent in $5,000 increments. Integration with QuickBooks Online, Xero or FreshBooks makes the process seamless. However, invoices can also be submitted manually. If you use accounting software integration, you’ll select the invoice you want to advance against and get funding in 24 hours.

BlueVine vs. Fundbox: Costs, Terms & Qualifications

In comparing BlueVine vs. Fundbox in terms of costs, loan terms and qualifications, we consider Fundbox the overall best. This is because qualifying is easier given that it has no minimum credit score requirement. However, you’ll pay a little more as Fundbox’s interest rates start at 0.5 percent to 0.7 percent per week compared to BlueVine’s interest rates that start at 0.20 percent per week.

Fundbox Interest Rates & Fees

The typical Fundbox costs, rates and fees are:

Interest rate: Starting at 0.5 percent to 0.7 percent per week
Origination or maintenance fees: None
Prepayment penalties or termination fees: None
Additional fees: None

With invoice financing from Fundbox, there are no hidden fees or additional costs. Plus, you can save money by paying off what you owe early since you won’t be required to pay any prepayment penalties.

BlueVine Interest Rates & Fees

The typical BlueVine costs, rates and fees for a business line of credit are:

Interest rate: Starting at 0.2 percent to 1.2 percent simple interest per week
Origination or maintenance fees: None
Prepayment penalties or termination fees: None
Additional fees: $15 wire fee (ACH is free)

The typical BlueVine costs, rates and fees for invoice factoring are:

Interest rate: Starting at 0.25 percent per week
Origination or maintenance fees: None
Prepayment penalties or termination fees: None
Additional fees: $15 wire fee (ACH is free)

With both BlueVine products, as with Fundbox, there are no hidden fees. The only additional cost is a small, optional wire fee. Similar to Fundbox, with BlueVine you can save money by paying off what you owe early since you won’t have to pay any prepayment penalties.

Fundbox Loan Terms

The typical Fundbox loan terms include:

Funding amount: Up to $100,000
Advance rate: 100 percent
Repayment term & schedule: 12 or 24 weeks with weekly payments
Personal guarantee: Not required for smaller limits; possible for larger limits
Speed to funding: 10 minutes to apply with a decision in as few as three minutes; ongoing funding within 24 hours

The financing you’ll receive from Fundbox is revolving. This means you can borrow the funds again and again once you’ve repaid them (less interest and any fees). Plus, you only pay interest on what you borrow.

BlueVine Loan Terms

The typical BlueVine business line of credit terms include:

Funding amount: $5,000 to $250,000
Repayment term & schedule: six or 12 months, weekly or monthly payments
Personal guarantee: Required
Speed to funding: 10 minutes to apply with a decision and funding as soon as the next day; ongoing funding the next day is free (via an ACH) or same day is $15 (via a wire)

The typical BlueVine invoice factoring loan terms include:

Funding amount: $5,000 to $5 million
Advance rate: Around 85 percent to 90 percent on invoices with face values of $500 or more to B2B customers
Repayment term & schedule: Advances are repaid as customers pay their invoices
Personal guarantee: Required
Speed to funding: 10 minutes to apply with a decision and funding as soon as the next day; ongoing funding the next day is free (via an ACH) or same day is $15 (via a wire)

Both the business line of credit and the invoice factoring product offered by BlueVine are revolving. This means you can borrow the money as many times as you pay it back minus interest and fees. With a line of credit, you can get up to 12 months to repay, which is much longer than with Fundbox. If you choose invoice factoring, your advances are repaid as your customers pay their invoices.

Fundbox Qualifications

In evaluating if your business qualifies for financing, Fundbox considers:

Credit score: No minimum requirement
Time in business: Six or more months
Annual revenue: No specific requirement; ideally you’ll make $50,000 or more

There is no specific credit score or annual revenue requirement used by Fundbox in its evaluation of your business. Instead, Fundbox will access your bank accounts or accounting software (it supports integration with over a dozen programs) to assess your health. The better your business has recently performed, the more funds you can potentially receive.

BlueVine Qualifications

In evaluating if your business qualifies for a line of credit, BlueVine considers:

Credit score (check your score here for free):
- 600 or higher for a six-month term with weekly payments
- 650 or higher for a 12-month term with monthly payments
Time in business: Three or more months
Annual revenue:
- $100,000-plus for a six-month term with weekly payments
- $500,000-plus for a 12-month term with monthly payments

In evaluating if your business qualifies for invoice factoring, BlueVine considers:

Credit score: 530 or higher (check your score here for free) and creditworthy B2B customers
Time in business: Three or more months
Annual revenue: $100,000 or more

In addition to completing BlueVine’s online application, you’ll also need to provide BlueVine with a connection to your checking account or three months of your most recent bank statements. For invoice factoring, not only do BlueVine’s borrowers need to meet its credit criteria but they also need to have creditworthy B2B customers. This is stricter than Fundbox’s requirements.

Fundbox Additional Invoice Financing Features

Some additional features of Fundbox invoice financing are:

Customer interaction: None
Type of invoice advance: Advances against total invoice volume, not specific invoices

Fundbox’s funding against your unpaid invoices isn’t tied to your client paying the invoice like it is with traditional invoice factoring, and so Fundbox will not contact your clients. Your clients will continue to pay you directly. In contrast, with invoice factoring BlueVine requires your customers to pay the invoice directly to a bank account it sets up in the name of your business.

BlueVine Additional Invoice Financing Features

Some additional features of BlueVine invoice factoring are:

Customer interaction: None
Type of invoice advance: Advances against specific invoices

Although BlueVine requires your customers to pay the invoice directly to a bank account set up in your business name, it won’t directly communicate with your customers. This is different from most invoice factoring companies, who will most likely communicate with your customers.

With BlueVine, you’re responsible for any invoices your customers don’t pay since it offers recourse factoring. You’ll be given the option by BlueVine to self-pay the invoices, or you’ll be automatically enrolled in an installment repayment plan.

BlueVine vs. Fundbox: Application Process

In comparing the application process for BlueVine vs. Fundbox, we found it’s very similar. With both providers, you’ll submit your application electronically and connect the providers to your bank accounts or accounting software. The application process takes 10 minutes or less. You’ll generally get approved in about a day and funded the day after you’re approved.

Fundbox Application Process

Applying online with Fundbox takes less than 10 minutes. After you’ve connected Fundbox to your bank accounts or accounting software (integration with over a dozen programs is supported), approval takes about a day with funding in about 24 hours. When comparing BlueVine vs. Fundbox, BlueVine only supports integration with three types of accounting software.

The amount of time it takes to apply and get funded with Fundbox are:

Application timeline: 10 minutes to apply with a decision in as few as three minutes
Speed to funding: As soon as the next day after approved and ongoing funding within 24 hours

BlueVine Application Process

With BlueVine, applying for financing via an online application takes 10 minutes or less, similar to Fundbox. Funding is as soon as the next day. The total time from application to funding is typically one to three business days. In comparing BlueVine vs. Fundbox, BlueVine supports integration with three types of accounting software compared to a dozen for Fundbox.

The amount of time it takes to apply and get funded with BlueVine are:

Application timeline: 10 minutes to apply
Speed to funding: As soon as the next day after approved and ongoing funding the same day for a $15 wire fee or the next day for free

BlueVine vs. Fundbox: Customer Service

An important factor when considering BlueVine vs. Fundbox is the customer service experience. Both companies provide great customer service, as evidenced by BlueVine and Fundbox reviews. The only customer service area where BlueVine has the edge over Fundbox is in its hours of operations. With BlueVine, you can get help on Saturday which Fundbox doesn’t offer.

Fundbox Customer Service

Fundbox’s customer service support team is available by phone or email from 8 a.m. to 8 p.m. Eastern time Monday through Friday. Its agents are not available on Saturday on Sunday. While you’ll most likely be able to reach Fundbox no matter your U.S. time zone during weekdays, if you work on the weekend you’ll need to wait. Many Fundbox reviews call out its great customer service.

BlueVine Customer Service

With BlueVine, you can contact its customer service from 8 a.m. to 8 p.m. Eastern time Monday through Friday and from noon to 4 p.m. Eastern time on Saturday. This means you’ll most likely be able to reach them even if you work on Saturday or operate in a different time zone. As with Fundbox, many BlueVine reviews highlight the customer service experience as being exceptional.

BlueVine Reviews vs. Fundbox Reviews

When considering Fundbox reviews and BlueVine reviews, they both generally have positive ratings. Both BlueVine and Fundbox are praised for their positive customer service experience. Negative reviews are not focused on the companies, but rather relate to applicants not being happy about being denied funding or the terms offered by BlueVine and Fundbox.

Fundbox Reviews

After considering Fundbox reviews by users from around the web, we determined it generally has positive ratings. Positive Fundbox reviews came from customers who said the company’s professional and helpful representatives made the process easy. Critical Fundbox reviews came from customers who complained about not being able to change the repayment terms to longer periods. Read more on our Fundbox reviews page.

BlueVine Reviews

After considering BlueVine reviews by users from around the web, we determined it generally has positive ratings. Positive BlueVine reviews came from customers who were impressed with its responsive customer support team. Critical BlueVine reviews came from businesses who were unhappy about being denied financing. Read more on our BlueVine reviews page.

BlueVine & Fundbox Alternatives

The best BlueVine and Fundbox alternatives come in many forms and vary depending upon the type of financing your business needs. If you want a line of credit above $500,000, then there are other small business line of credit providers. If you need more than $5 million in invoice financing, then invoice factoring is a great option. No matter your situation, there are alternatives.

The best potential alternatives to BlueVine and Fundbox are.

Small Business Line of Credit

A small business line of credit with a provider other than BlueVine or Fundbox could provide another source of very quick funding. With the best small business lines of credit, very little documentation is needed, and applications can be completed in minutes. Plus, with some of the other providers, you may be able to get funding up to $500,000.

Fast Business Loan

If you need very quick funding and are looking for a BlueVine or Fundbox alternative, then you could turn to another fast business loan. With a fast business loan, what’s most important is how quickly you can get the money, and so you can expect to pay relatively high rates (30 to 50 percent or higher plus APR). However, you can get funded in as soon as one to three business days.

SBA Loan

A Small Business Administration (SBA) loan is a good option for prime borrowers (680 or higher individual credit score) needing up to $5 million in long-term working capital or real estate financing. If you only need up to $350,000, then an SBA Express loan is probably the best SBA product. Finding a good SBA lender is key, so check out some of the best SBA lenders we’ve reviewed.

Invoice Factoring

Invoice factoring is a good BlueVine and Fundbox alternative for businesses with B2B or business-to-government (B2G) invoices in need of financing up to $20 million. To get a larger funding amount, you’ll typically need to assign your invoices to your provider and give them some customer control. We recently reviewed some of the best invoice factoring providers, if you want to dig in further.

The Bottom Line

BlueVine and Fundbox are popular competitors since they both offer funding against unpaid invoices. In comparing BlueVine vs. Fundbox, we considered how much funding you’ll receive, how much it will cost you and the typical terms, among other items. BlueVine and Fundbox competitors will find both companies hard to beat, making them both good choices.

Because of the simplicity of its offering, we consider Fundbox the best when comparing BlueVine vs. Fundbox on invoice financing. You can advance 100 percent against your invoices up to $100,000 with weekly rates starting at 0.5 percent to 0.7 percent. Payments on your advances are made over 12 to 24 weeks. Applying online takes minutes with funding as soon as the next day.