My Experience With Fundbox – A Fast And Easy Small Business Lender

After applying for a loan through Fundbox, I can say that this online lending platform offers one of the fastest and most convenient loan solutions for small businesses.  

Applying for a business loan through Fundbox is a five-step process.  

1. The Online Application

This was the easiest and fastest part of the whole process. I managed to complete the whole application in roughly 5 minutes.

2. Repayment Options

As I previously mentioned, Fundbox provides two different payback options. I was able to choose between repaying my loan on a 52-week schedule or a 24-week schedule and each option had a different interest rate.  

3. Funding the Loan with Fundbox 

It’s very easy to get funds from Fundbox once your loan application is approved. After the platform informed me that my application passed the approval stage, I simply had to wait to receive the money in my bank account. 

4. Paying Back the Fundbox Loan

I had two options to pay back my Fundbox loan.The first one was to let the automatic scheduled repayment system work on its own, which meant that the interest fee would be charged weekly. The second option was to choose the 52-week repayment plan and pay off the loan faster to minimize my interest charges and gain a better return on investment.

5. The Aftermath Stage 

In my case, things went quite well. – No credit impact – because Fundbox only did a soft credit pull, the loan had no impact on my credit score. – Profits – I managed to double the amount I took the loan for. Even after I paid the interest, I made considerable profits by using the equipment loan.

Swipe up now to read the full post!