By Daniel Lewis,
/ Advertising Disclosure

Both Bluevine and Fundbox are well-respected online lenders, both known for their line of credit offerings. A streamlined and automated online application process is evident with both lenders, and requirements for each is low.

However, many of the similarities end there, and each lender provides a specific functionality within the online lending space. It’s easy to bracket different lending platforms under the umbrella term of ‘online lender’.

Both Bluevine and Fundbox bring something new and novel into the market. Let’s investigate what each has to offer, and which one is right for you. There is a great level of variance in terms of minimum qualifications, interest rates, the application process, the underwriting system, and customer service.

Short on Time? Quick Comparison

Criteria bluevineBluevine fundboxFundbox
Funding Time
Max Loan Amount
Loan Options
Customer Service
Analytics and Dashboards
Application Criteria
Review Full BlueVine Review Full Fundbox Review
Bluevine Pros

  • Smooth Application Process
  • Credit Bureau Reporting
  • Short Funding Time
  • Business Credit Card
  • Business Checking Account

Fundbox Pros

  • Smooth Application Process
  • Very Fast Approval Times
  • Ultra-Low Eligibility Requirements
  • Short Funding Time

Bluevine Cons

  • Higher (Though Reasonable)Minimum Qualifications
  • Repayments are required quickly
  • Customer service is inconsistent

Fundbox Cons

  • No Term Loan
  • No Invoice Factoring.
  • Higher Rates

What Are the Primary Differences Between Bluevine and Fundbox?

It’s worth mentioning, at the outset, that both Bluevine and Fundbox offer the line of credit, with Bluevine also offering invoice factoring. This distinguishes them from many other lenders in the space. Most offer the term loan, and some the line of credit. A smaller percentage offer invoice factoring, it is more niche.

This means that both of these lenders are specialized in the generation of the line of credit as opposed to other loan options. Fundbox used to also offer invoice factoring, and many deprecated review sites could lead you to believe that this is still the case.

A line of credit is a revolving line that is drawn upon as needed. It differs from a term loan in the sense that there is no structured repayment term with interest rates. You only pay interest on a line of credit when you actually draw upon it. Due to this, the line of credit is a more flexible kind of financial option.

The reason to take out a line of credit is often general. It is an extra form of liquidity to manage the day to day cashflow expenses. In contrast, the term loan is taken out with a specific purpose in mind, such as equipment, property, or investment. Invoice factoring is undertaken by businesses in certain industries that need cash flow quickly (invoices can take months to get paid in certain industries, such as manufacturing).

So, they both offer the line of credit and invoice factoring, what are the differences? Well, the major differences are:

  • Bluevine offers invoice factoring. Fundbox does not.
  • Bluevine has higher eligibility requirements in comparison to Fundbox. 
  • Bluevine repayment terms are 6 – 12 months for the line of credit. Fundbox repayment terms are 12 – 24 weeks for the line of credit.
  • Bluevine offers an additional business checking account for an all-in-one banking solution.
  • Bluevine’s application process is a little slower in comparison to Fundbox.
  • BlueVine does not require that borrowers have a business bank account or use accounting software (thought both are preferred).

Bluevine vs Fundbox Loans Compared


Bluevine offers invoice factoring and a line of credit. The Bluevine invoice factoring criteria is quite low, with a minimum 530 FICO credit rating and $10,000 in monthly revenue. Another requirement is that you are a B2B, not a B2C, company. While the total invoice factoring amount can range up to $5 Million, applications over $250,000 will require additional documentation. For the line of credit, you will need a 600 minimum credit score and 2 years in business, with $40,000 in monthly revenue. 


Fundbox offers the line of credit only (it has a separate service known as Fundbox credit, catering to the invoice market). Fundbox has no/few minimum requirements, and even states this on its official webpage – “We don’t have many hard requirements, but we do have a few guidelines to help you decide if we’re a good match for your needs”. These requirements are essentially having a compatible accounting software system, sharing business details, and being located in the USA. It is known for high approval, swift applications, and low eligibility requirements”

Winner: Bluevine. It offers more loan products than Fundbox, with higher maximums.

Criteria bluevineBluevine fundboxFundbox
Products Offered Line Of Credit (‘LOC’), Invoice Factoring (IF) Line Of Credit
Total Loan Range Up To $250,000 (LOC)

Up To $5 Million (IF)

Up T $150,000
Annual Percentage Rate 15% – 78% 10% – 80%
Repayment Terms 6 – 12 Months 12 – 24 Weeks
Loan Issuer Celtic Bank First Electronic Bank
Minimum Qualifications 650 Credit Score (LOC)

530 Credit Score (IF)

$40,000 In Monthly Revenue (LOC)

$10,000 In Monthly Revenue (IF)

2 Years in Business (LOC)

3 Months In Business (IF)

500 Credit Score (recommended)

$50,000 In Annual Revenue (Recommended)

Compatible Accounting Software

Application Speed 10 Minutes 10 Minutes
Funding Speed 24 Hours 24 Hours
Automated Application Fully Automated Fully Automated
Repayment Schedule Weekly Weekly

Minimum Qualifications


The Bluevine minimum eligibility requirements are very easy to meet. All you need is to have at least three months in business, bring in at least $120,000 per year in revenue (or $10,000 per month), and have a credit score of 530 or above. Bluevine integrates with three invoicing and accounting services: FreshBooks, QuickBooks, and Xero. And even if you don’t use any of those programs, you can still use BlueVine’s services. For the Bluevine line of credit, you will need a minimum personal credit score of 600, at least $100,000 in annual revenue, and six months of business history to qualify for a six-month line of credit. Qualifying for a 12-month line of credit requires a minimum credit score of 620, at least $450,000 in annual revenue, and two years of business history. It is unavailable to borrowers in North Dakota, South Dakota, or Vermont.


Fundbox is the easier of the two to qualify for, by far. It does require that you have compatible accounting or invoicing software for at least three months. Fundbox currently works with 12 accounting and invoicing solutions, including popular vendors, such as Xero, QuickBooks, FreshBooks, and eBillity. Fundbox does not have any specific requirements about time in business or income, although annual revenue of at least $50,000 is recommended. Borrowers are recommended to have a credit score of 500 or above to qualify through Fundbox. Basically, there does not seem to be any real minimum requirements with Fundbox, but the rates will be higher to compensate.

Winner: Fundbox. It is easier to qualify for.

Criteria bluevineBluevine fundboxFundbox
Maximum Loan Amount Up To $5 Million (IF)

Up To $250,000 (LOC)

Up to $150,000
Minimum Loan Amount $5,000 $1,000
Minimum Credit Score 650 (LOC)

530 (IF)

None (500 Recommended)
Minimum Time in Business 2 Years (LOC)

3 Months (IF)

3 Months
Personal Guarantee Required Required
Collateral Blanket UCC-1 Filing Blanket UCC-1 Filing

Rates and Penalties Compared


The Annual Percentage Rate (‘APR’) for the Bluevine line of credit is between 15% – 78%, (identical to Kabbage, another lender in the online lending industry). But it’s hard to judge a lender from the APR range alone, and all of the rates and penalties must be considered. There are no prepayment penalties or maintenance fees with Bluevine, but there is an origination fee on one product and a $15 fee for wire transfers. The Bluevine invoice factoring rate operates at a 4.66% discount rate and advances 100% of the invoice. The invoice factoring credit facility ranges up to $5 Million, and the weekly rates are as low as 0.25%.


The Annual Percentage Rate for Fundbox is estimated to be between 10% – 80%. Fundbox does not charge any draw fees or money transfer fees when you request funds. This is a revolving line of credit, which means that your credit line replenishes as you repay borrowed money.

Repayments are made in equal installments over 12 weeks or 24 weeks. The borrowing fee begins at 4.66% for 12-week terms and 8.99% for 24-week terms. There is no prepayment penalty. This means that if you pay your loan off before the 12 or 24 weeks are up, you can save on fees.

 Winner: Bluevine. Bluevine rates are a little cheaper, though not by much.

Criteria bluevineBluevine fundboxFundbox
APR 15% – 78% 10% – 80%
Borrowing Fee 0.3% – 1.5% per week or 1.5% – 6.5% per month 4.66% for 12 week term or 8.99 for 24 week term.
Prepayment Penalties None None
Maintenance Fees None None
Origination Fees 1.50% for the Flex Credit product. None
Withdrawal Fees None None
Draw Fee 1.6 – 2.5% per draw None
Discount Rate Invoice Factoring 4.66% N/A
Lowest Weekly Invoice Factoring Rate 0.25% N/A
Advance Percentage Invoice Factoring 100% N/A

Which Lender Is Cheaper?

It might seem a little tricky to judge which of the 2 is cheaper, as loan interest rates are complex. It seems that Bluevine has a few more fees in comparison, such as an origination fee and draw fee. However, on average, Bluevine will offer cheaper rates. But this is not the only consideration. Bluevine is slightly cheaper, but what matters is the type of loan you need. Fundbox caters better to the short-term market with a fast turnaround. Bluevine is better, but it also offers longer-term lengths.


Bluevine’s fees can get a little expensive, but despite the potential for high costs, Bluevine offers fantastic and transparent services that are easy to qualify for, convenient, and useful for merchants who struggle with cash flow problems. And it is cheaper than Fundbox (neither of these lenders is the cheapest in the market).


With Fundbox, the fee for borrowing starts at 4.66%. The reality is that the final interest rate will be a lot higher, despite no more additional charges. They have a very clear calculator on their site which indicates how much you will pay depending on your loan amount and term length (12 – 24 weeks). Fundbox is a very transparent lender and has clean and streamlined sites that outline all of the associated fees.

Winner: Bluevine is a little cheaper.

Which Has a Smoother Application Process?


The application for BlueVine’s services is simple. You just create an account via the website and answer some basic questions about yourself and your business. You’ll also have to provide either the most recent three months of bank statements or allow read-only access to your bank account. According to the BlueVine website, your initial approval for a loan, line of credit, or invoice financing will take about 24 hours. When approved, you will receive your loan within a few hours, or you can begin drawing from your credit line or selling invoices immediately.


Fundbox’s application is fully automated. Some borrowers will receive a funding decision within a few minutes (though it can take longer in many instances, depending on the product and amount). If you are approved, and you like the rates you’ve received, you can begin requesting funds immediately. Funds generally hit your bank account the next business day, depending on the time of day you make the request. However, a couple of users report that it sometimes takes up to three days for processing – it depends.

Winner: This one is a tie. Both Bluevine and Fundbox has a flawless application process.

Underwriting Process Comparison


At the end of the underwriting process, approved borrowers will be given a set credit line. For instance, if you’re approved of a credit line of $100,000, you can get advanced for invoices worth a combined total of $100,000 at any given time. BlueVine can complete the underwriting process within 24 hours, and once you’re approved, you’ll get the funds for your invoice(s) in a few hours. While it’s not an application requirement for BlueVine, the underwriting process is much more efficient for borrowers who use accounting software. If you do use accounting software, BlueVine allows you to connect it to their platform to assist in the underwriting process.


The Fundbox underwriting process is excellent. It won an award in 2018, and the judge (MD James Johnson) stated that “Fundbox stood out from the competition with its artificial intelligence-based underwriting platform. By fully automating the underwriting process with a data-driven risk model, Fundbox promises to underwrite faster, more cost-effectively and with greater accuracy than many other lenders—opening up lending possibilities for more customers”.

Winner: Fundbox. It has awards for its superb underwriting procedures.

Customer Reviews and Feedback


Bluevine has excellent customer reviews and feedback. It is rated A+ with the Better Business Bureau. There are some negative reviews on the various sites, relating to inconsistent customer service. Many reviews are critical of the mobile application, which is not running as smoothly as it should. But, overall, the reviews are positive, with a 4.2 Star rating on Trustpilot. Most of the negative reviews are in relation to the Bluevine business checking account, a new product that is still having some difficulty.


Fundbox has several support options, including phone, email, and a support center. The support center is basically a well-developed FAQ that explains everything you need to know about Fundbox, including troubleshooting. There is also a more general FAQ section on the Fundbox website that covers basic information. In addition, Fundbox has fantastic customer reviews and feedback. They really started to gain popularity when they focused solely on the line of credit instead of invoice factoring. Currently, they have been rated 4.7 Stars out of 2250 reviews on Trustpilot USA. This is an outlandishly good rating in a hard space. Many lenders drastically dropped ratings due to the financial fallout of the COVID-19 pandemic. The customer service has a great reputation.

Winner: Fundbox. The customer reviews are overwhelmingly positive.

When to Choose Bluevine

Online lender BlueVine offers small-business owners multiple loan options to address short-term financing needs. The company also offered Paycheck Protection Program loans to assist businesses during the COVID-19 pandemic. That program ended on August 8, 2020. BlueVine’s business line of credit and invoice factoring may be right for your business if you:

  1. Need Cash Fast – Funding times for BlueVine’s products range from 12 to 24 hours.
  2. Have Slow B2B Customers – Bluevine invoice factoring is perfectly suited to businesses that want a more fluid cash flow due to slow-paying merchants and customers.
  3. Prefer Lower Requirements – BlueVine considers borrowers with bad credit, though requirements are not so low in comparison to Fundbox.

Applying with Bluevine is quick, and once approved, you may have access to funds by the same day. Here’s how long the approval process typically takes for BlueVine’s products:

  • Line of credit: An average of 12 hours.
  • Invoice factoring: A few minutes to a day.

When to Choose Fundbox

Choose Fundbox if you want cash immediately, and are not all that bothered about how it is supplied! The Fundbox application process is top of the line and you can get your cash within 24 hours. The primary reasons to use Fundbox are:

  1. Favor The Lowest Eligibility Requirements – Fundbox has no ‘official minimums’, but a 500 credit score and $50,000 in annual revenue are recommended.
  2. Appreciate Customer Service – In the past 12 months, Fundbox approval has greatly increased. They restructured their loan process to focus on the line of credit. And the customer is raving about an exceptional quality of care.
  3. Need Cash Fast – The requirements with Fundbox are low to non-existent, and you can get approved in minutes. Bluevine is good, but Fundbox is a little better in terms of speed and eligibility.

Of course, Fundbox is not an ideal lender if you are looking for anything other than a line of credit, as this is all that’s on offer. They are also not ideal in terms of the loan amount, only extending up to $150,000. But for many small business owners, it may be enough. But keep in mind that Fundbox does not report to the credit agencies, which is a major blow to somebody who is trying to raise their credit score.

The Bottom Line

It should be clear to you right now what both of these companies offer. Fundbox is for businesses who need money fast to get up and running, without delay. There are a few minimum requirements and lightning-fast approval times. Money, with no questions asked.

For those looking for better rates and longer repayment terms, the Bluevine line of credit is superior in most respects. It also has the invoice factoring option, making it a superior option in many regards, for those who pass the minimum eligibility criteria.


Does Fundbox Check Credit?

Fundbox will check your credit during the application process for a line of credit. This is to ensure you meet its minimum requirements. However, it will only conduct a ‘soft pull’ which will not have an effect on your credit score. If you are approved for the line of credit, Fundbox will then proceed with a ‘hard pull’. This will affect your credit score, though not by much. A hard pull will most likely reduce your credit score by about 5 points. This is acceptable for accepted submissions – be wary of lenders that conduct a hard pull merely for applications, not acceptance, of your loan.

Does Bluevine Check Credit?

Like Fundbox, Bluevine does not conduct a hard credit check until acceptance of an offer. For corporations, no hard check is ever conducted. As per the website: “For businesses organized as a limited liability company or a corporation, we do not conduct a credit check at any stage during the process. For businesses organized as partnerships and a sole proprietorship, we will only perform a hard credit pull after you review and accept our offer”.

Is BlueVine a PPP Lender?

When the Paycheck Protection Program took off, Bluevine helped facilitate PPP loans, like many other online lenders. The PPP is since closed, however, its forgiveness applications are still open. This means that if you took out a PPP loan through Bluevine when the program was open, you can send your forgiveness application to Bluevine. They will check the criteria and see whether or not you qualify for forgiveness. If you do, then Bluevine will send the approval on to the SBA, who will release the funds. The whole process should be complete within 90 days at the latest, though a lot will depend on the complexity of your application.

Does Fundbox Require Personal Guarantee?

One of the advantages of Fundbox is that it does not require a personal guarantee for lines of credit below $50,000. This means that business owners are not on the hook for any failure to repay debt. There is also no requirement to put down any collateral. Of course, your credit rating will still be destroyed if you default on your debts, but the personal guarantee ensures that your personal assets are safe against claims.

Does Bluevine Require Personal Guarantee?

Bluevine does require a personal guarantee, like many other lenders in the space. According to the website “BlueVine financing is not unsecured. However, we do not require any specific amount, type, or value of the collateral, and no appraisal or specific assets are required. Financing is secured by a general lien on the assets of the business and backed by a personal guarantee. We do not take personal assets as collateral.”

What Bank Does Bluevine and Fundbox Use?

Bluevine (and many others in the online lending space) uses Celtic Bank, Utah, to facilitate loans. All deposits are insured by the Federal Insurance Deposit Corporation (‘FDIC’) up to $250,000. Fundbox uses First Electronic Bank, which is also based in Utah. The lender processes the loan, though the capital is usually provided by a third-party financial institution, such as Celtic Bank or First Electronic Bank.

How Long Does Bluevine/Fundbox Approval Take?

Fundbox approvals are done in record speed, even by the fast standards of the online lending space. You can get a decision within 3 minutes, and you can fill out the questionnaire within 10 minutes. The approval process will vary, depending on the type of loan application and the amount. The higher the loan amount, the more documentation that will be required. Generally, however, both lenders can facilitate approval in less than 10 minutes if everything is in order. However, times can vary. Most often approval will take about 12 hours, on average, with both lenders. There is a great level of variance.

Who Offers Better Loans, Bluevine, or Fundbox?

It is impossible to say for definite who offers better loans, as they have different loan offerings. The interest rates are a little better with Bluevine, but the application criteria are more difficult to pass. This is often the case with online loans – better rates require better credit ratings. And many small business owners do not have a high credit rating to qualify for such loans. It takes a few years to get a good credit rating, and a couple of wrong steps can really serve to reduce this rating.

Who has a better platform, Bluevine, or Fundbox?

It is Bluevine that offers a better line of credit, on average. The rates are a little lower and they are also more opaque with their terms. Bluevine also has a number of additional products such as the business checking account, which can be very useful. Overall, Blue is a more reputable lender that has stricter conditions, with a wider range of services. But Fundbox does very well in its own niche of lines of credit, to a maximum of $150,000. In terms of usability and interface, the overall platform is a tie. Bluevine tends to provide more functionality, but many customers are complaining about the mobile application and the checking account.

Daniel Lewis
Daniel Lewis
Daniel Lewis is an MBA accredited investment professional who wants to assist small business owners to gain access to finance. After going through many channels for funding, Lewis has found that getting the first loan right is vitally important for future success.

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