BlueVine vs. Fundbox: Which Lender Is Better for Your Small Business?

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If you’ve been wondering whether Fundbox or BlueVine is better for your business, we’ve compared the two lenders below. Overall, we’d recommend BlueVine for businesses that need to process a high volume or dollar-amount of invoices as the company extends lines up to $2.5 million. In contrast, we think Fundbox is a better choice for businesses that want to advance 100% of their invoices, that don’t need to process high-volume or -dollar invoices or that may not meet certain eligibility criteria at other lenders.

BlueVine vs. Fundbox Summary

BlueVine and Fundbox have very similar products. Generally, we’d recommend BlueVine for financing a high volume of invoices over $100,000. On the other hand, Fundbox would be our pick for businesses that want 100% advances on their invoices or that may not meet certain eligibility criteria at other lenders.

Better for
  • Financing a high volume or dollar-amount of invoices

  • 100% advances
  • Smaller businesses
  • Borrowers with thin credit history

Minimum Age of Business
  • Invoice Factoring: 3 months
  • Six-Month Line of Credit: 6 months

  • Invoice Financing: 3 months
  • Line of Credit: 6 months

Minimum Annual Revenue
  • Invoice Factoring: $100,000 in annual revenue
  • Six-Month Line of Credit: $120,000 in annual revenue

  • Invoice Financing: N/A
  • Line of Credit: $25,000 in annual revenue

Minimum Credit Score
  • Invoice Factoring: 530
  • Six-Month Line of Credit: 600

Personal GuaranteeYesNo
Other Requirements
  • At least $1,000 average monthly bank account balance (line of credit)

  • Must use eligible account software (invoice financing)
  • At least $500 average daily bank account balance (line of credit)
  • No bankruptcies in last 2 years (both)

Products Offered
  • Invoice factoring
  • Line of credit

  • Invoice financing
  • Line of credit

Loan Amount Range
  • Invoice Factoring: $20,000 - $5 million
  • Six-Month Line of Credit: $5,000 - $250,000

$100 - $100,000
APR Range
  • Invoice Factoring: 15.00% - 68.00%
  • Six-Month Line of Credit: 15.00% - 78.00%

  • Invoice Financing: 13.00% - 60.00%
  • Line of Credit: 15.00% - 59.00%

Loan Terms
  • Invoice Factoring: Up to 90 days weeks
  • Six-Month Line of Credit: 6 months months

  • Invoice Financing: 12 or 24 weeks weeks
  • Line of Credit: 12 weeks weeks

Repayment Options
  • Weekly
  • Weekly

Prepayment PenaltyNoNo
Funding TimeAs fast as one dayAs fast as next business day
Apply NowApply at BlueVineApply at Fundbox

When to Use BlueVine Over Fundbox

BlueVine may be a better option than Fundbox if:

  • You have invoices totaling between $100k and $2.5 million that you want to finance

BlueVine provides invoice factoring up to $2.5 million, making it a good option for businesses that either have a high volume or dollar-amount of invoices. Fundbox is limited here because it only provides invoice financing lines up to $100,000. However, because BlueVine provides large factoring amounts, there are more criteria to qualify than at Fundbox. You will need to be in business at least three months with $10,000 in monthly revenue. You will also need a minimum credit score of 530 and you will be required to make a personal guarantee. In general, BlueVine will advance 85% of each invoice -- unless you have excellent credit, in which case they may advance 90% of the invoice.

When to Use Fundbox Over BlueVine

Fundbox is a better option than BlueVine if:

  • You want to receive 100% of an advanced invoice
  • Your business is smaller in volume or revenue
  • You have a thin personal credit history

We recommend Fundbox for businesses that either don’t need to process high-volume or -dollar invoices or that may not meet all of the eligibility criteria at BlueVine. Through Fundbox, you can advance 100% of your invoices or take out a traditional line of credit with a maximum line up to $100,000. And unlike traditional invoice factoring, you will repay the invoice advance plus a fee over the course of 12 or 24 weeks, and your customer will pay you rather than Fundbox.

To qualify for invoice financing at Fundbox, you’ll need to be in business at least three months with no bankruptcies in the last two years and you must use eligible accounting software. Eligible software includes Quickbooks, FreshBooks, Xero, Harvest and Clio. There are no hard credit score or annual revenue requirements. For the line of credit, there are additional business duration, revenue and bank account balance requirements. However, Fundbox states that its ideal borrower will have at least $100,000 in annual revenue, have been in business at least nine months and be profitable.

How to Choose Between BlueVine and Fundbox

Both of these companies offer very similar products, rates and terms. Both provide invoice financing solutions allowing you to receive a partial or full advance on your outstanding invoices as well as line of credit products up to $100,000. The main difference between these two lenders is what it takes to qualify. On one hand, BlueVine has higher revenue requirements than Fundbox and strict credit cutoffs. You’ll need at least $3,000 to $5,000 in monthly revenue to qualify at BlueVine, depending on which product you choose. You’ll also need a credit score of at least 530 to 650 to qualify. At Fundbox, there is no strict revenue requirement for invoice financing and only a required $25,000 in annual revenue for the line of credit.

Another key difference between the two lenders is how the invoice financing works. BlueVine offers more traditional invoice factoring. You submit individual invoices to BlueVine and receive 85% to 90% of the invoice upfront. Once your customer repays the invoice to your BlueVine account, you will receive the remaining 10% to 15% less fees charged by BlueVine. At Fundbox, the invoice financing product is more similar to a line of credit. When you submit invoices, you will receive a 100% advance on the invoice. After that, you will repay the invoice plus a fee over 12 or 24 weeks. Your customer pays you, rather than Fundbox.

Because these products function differently, think about what works best for your business. Perhaps having your customers pay your lender directly is the easiest solution. Or maybe you prefer to retain full control of how you invoice and communicate with your customers. Some business owners prefer the one-time payment structure of BlueVine over the weekly payment plan at Fundbox, and some businesses prefer the opposite. As for the line of credit, both companies have comparable products, so if you’re going to select one lender for invoice financing, you’re better off getting a line of credit from the same lender.

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