Bluevine vs. Fundbox: Discover the Best Choice for 2024

Bluevine vs Fundbox: Line of Credit

Fundbox offers lines of credit up to $150,000 with 12 or 24-week terms. Bluevine, on the other hand, offers lines of credit up to $250,000 and provides six or 12-month terms. Because the terms are longer with Bluevine, you can expect lower monthly payments than you would with Fundbox.

Rates for a line of credit with Bluevine start at 4.8%. For Fundbox, rates start at 4.66% for 12-week terms. To qualify for the best rate, you’ll want to make sure your credit score is as high as you can get it. Here are eight ways you can build your business credit.

Other Loan features

In addition to a line of credit, Bluevine offers business checking accounts. There are no monthly fees, and you can earn up to 1.5% in interest. Having your business checking account with the same company your loan is through can simplify your small business finances.

Fundbox offers small business term loans in addition to their line of credit.Term loans enable borrowers to access a lump sum they can later repay over a longer period of time. The loan’s term length is 24 or 52 weeks, and the repayment is done on a weekly basis. Rates start at 8.33% for a 24-week term. The minimum loan is $1,000 and the maximum amount is $150,000.

Bottom line: Interest rates with both companies are comparable, but ultimately we choose Bluevine due to their larger loan amounts and longer terms.

Bottom line: Interest rates and fees for both Bluevine and Fundbox are similar. Because Fundbox offers discounts, though, we are going to go with them for the winner in this category.

Bluevine Requirements

To qualify for a line of credit with Bluevine, business owners need a minimum credit score of 625 and to have been in business for at least six months. Annual revenue requirements are $120,000, or $10,000 per month. Bluevine also requires you to have not had a bankruptcy within the past year in order to get approved.

Fundbox Requirements

Funbox is an excellent choice for borrowers who have a low credit score and a short business history. You can qualify for a term loan or line of credit with a score as low as 600 and you only have to prove you’ve been in business for the past six months. Annual revenue of $100,000 is required, though. The company may also ask you to sign a personal guarantee when your application is approved and have a business lien.

Bottom line: Fundbox is the winner for this category, offering both lower credit score and annual revenue requirements. 

Bluevine's application process is straightforward and requires just two steps. First, you have to provide your personal and business details by filling in an online form. Afterward, your application will be reviewed and you should receive a funding decision in as little as five minutes. If you get approved for a line of credit, you will be able to make draws from your online dashboard within 24 hours.

Fundbox also offers a fast and straightforward application process. First, you’ll enter your personal and business details in an online form, which takes less than 10 minutes. You’ll then link your personal or business bank account to your Fundbox account. The platform uses a robust algorithm to assess applications and provide fast decisions. Once approved, you get a complete overview of your loan’s terms and fees and if you decide to move on, the funds can be available as soon as the next business day.

Bottom line: It’s a tie! Both Fundbox and Bluevine offer straightforward, simple online applications. You’ll receive a funding decision in less than five minutes with both companies, and funds can be in your account within 24 hours of loan approval.

Bluevine’s support team is available Monday through Friday from 8 AM to 8 PM by phone or email. If you want to speed up the communication process, you’re able to chat with them through Facebook or Twitter. A comprehensive FAQ section is also available on the company's website.

Fundbox offers multiple customer support channels. You can call the company Monday through Friday from 8 AM to 8 PM EST or contact them via email. You can also reach them on social media by chatting with an agent on Twitter. The company’s website features a vast Help Center with useful resources, as well.

Bottom line: It’s a tie, both companies offer great support with similar means of communicating.

Fundbox has 4.8 out of 5 stars on Trustpilot from more than 3,500 reviews. Top reviews include the straightforward process, the helpful service and support staff, and the quick approval times. Poor reviews mostly focus around fees not being disclosed and policy changes happening frequently.

Bluevine has 4.4 out of 5 stars on Trustpilot out of more than 7,000 reviews. Most customers had a great experience and appreciated the quick and simple process. Negative reviews revolved around not getting approved and having to make weekly payments as opposed to monthly.

Bottom line: Fundbox is the winner due to higher ratings overall.

Bluevine offers borrowers flexibility with how they choose to make their payments, accepting checks, credit cards, and ACH transfers. They also have an app which allows borrowers to request more funding or make a payment on the go. Other perks of Bluevine include a transparent, easy-to-navigate website and the option to enroll in automatic payment plans.

Fundbox has many of the same benefits as Bluevine, in addition to offering customers discounts on weekly fees. If you pay your loan off early, Fundbox will waive any fees that were charged in future weeks. They also occasionally send out coupons on holidays or other special occasions that are automatically applied to your next fee.

When to Choose Bluevine

Bluevine is a good choice for businesses in need of up to $250,000 who have been in business for at least six months. They also offer business checking accounts, allowing you to simplify your small business banking needs. 

When to Choose Fundbox

Fundbox is a solid option for businesses who want a small business loan instead of a line of credit. We also recommend Fundbox if your credit score is hovering around the 600 mark. While their loan amounts cap out at $150,000, that may be all you need to expand your business or keep it up and running during a slow season.