BlueVine allows 6 or 12 month payment terms, whereas Fundbox has terms of 12 or 24 weeks (3 or 6 months).īlueVine and Fundbox Comparison Asses Your Line of Credit Options Carefully The most notable difference is the repayment terms. Line of Credit Side-by-Side ComparisonīlueVine and Fundbox have similar options for small businesses, but there some differences. Timeline: Funding can be approved in as little as 24 hours, with next-day transfers following approval.īest For: Fundbox is another option for businesses who need fast cash, but it's best for businesses who can re-pay their line of credit quickly, within the 12 or 24 week window. Repayment: Equal payments are made over 12 or 24 weeks with no prepayment penalty.

Interest: Rates start as low as 4.66% of draw amount.

Qualifications: In order to qualify for a line of credit with Fundbox, you need a FICO score of 600, be in operation for six months, have $100,000 in annual revenue, and have a business checking account to link to. Business Line of Credit Through Fundboxįundbox offers business lines of credit up to $150,000 with 12 or 24 week (3-6 months) terms. Timeline: Businesses can receive an initial decision in as little as 5 minutes and can receive funding in as little as 24 hours.īest For: BlueVine can be best for businesses that need fast access to cash and longer repayment terms. Repayment: BlueVine automatically withdraws from your bank account on a weekly or monthly basis over 6 or 12 months, with no prepayment penalty. Interest: Rates start as low as 4.8% of draw amount. To qualify for a 12-month repayment term, you need a FICO score of 620, be in operation for two years, and have $450,000 in annual revenue. Qualifications: In order to qualify for a line of credit with a 6-month repayment term with BlueVine, you will need a FICO score of 600, must be in operation for at least 6 months, and have $10,000 in monthly revenue. BlueVine offers other banking services, such as invoice factoring and business checking accounts. Business Line of Credit Through BlueVineīlueVine offers lines of credit from $5,000 up to $250,000 to help your business meet its financial need without taking out a term loan. In this article, we will compare the two companies, side-by-side, and provide you with details to help you decide which one is best for your business. Two of our partners, BlueVine and Fundbox, offer competitive lines of credit. Unlike a term loan, you only pay interest on your line of credit when you draw from it. A business line of credit is a flexible way to have access to capital.

Bluevine invoice factoring