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BlueVine Business Loans

Jessica Cotzin Jessica Cotzin Last update:
Loan Amount
$5K-$5M
Min Credit Score
690
Funding time
1-3

BlueVine is an online lending company that specializes in delivering quick access to capital for small businesses nation-wide. They currently offer three business loan products: terms loans with fixed rates and zero origination fees, revolving lines of credit for ultimate flexibility, and invoice factoring for quick advances on outstanding invoices.

All three business loan types provide fast funding—typically within just 24 hours—and the online application process is quick and easy.

What it takes to qualify for a loan is fairly comparable to other online lenders. Their lines of credit and term loans require a minimum credit score of 690 and 2 years in business. Their invoice factoring loan requires only 3 months in business. All loan types require a minimum annual revenue of $120,000.

BlueVine Types Available

  • Lines of Credit
  • Term Loans
  • Invoice Factoring

Lines of Credit Loan—Good for: Flexibility

  • Up to $250,000
  • 6 – 12 months
  • Requirements: 690+ credit score, been in business for 2 years or more, $504,000 in annual revenue

Lines of credit are great for business looking for flexible funding on demand. With BlueVine, you only pay for what you use (once approved) and there are no fees to open or maintain your credit line. As you pay off your balance and continue making repayments, the credit line will automatically replenish.

Traditional business loans typically come with fixed monthly payments, but with a line of credit, you get more flexible payment options and businesses can repay what they owe on their own schedule.

Terms Loan—Good for: Fast funding

  • Up to $250,000
  • 6 – 12 months
  • Requirements: 690+ credit score, been in business for 2 years or more, $504,000 in annual revenue

While the requirements are the same, BlueVine’s term loan is different from their line of credit in that you get a bulk sum of money up front which comes with a fixed weekly rate over 6 or 12 months. This is a good option if your business needs fast funding for a specific purchase.

Invoice Factoring—Good for: Improving cash flow

  • Up to $5,000,000
  • 1-12 week repayment terms, depending on the invoice terms
  • Requirements: 690+ credit score, been in business for 2 years or more, $504,000 in annual revenue, your business is B2B

Invoice factoring has the benefit of allowing businesses to convert invoices to cash, which can be a great solution for cash flow issues. BlueVine provides roughly 85-90% of the money upfront and, once the invoice is paid by the client, you get the remaining amount minus a fee. Their standard rate is 1% per week with a minimum of 3 weeks.

BlueVine: Pros

  • Quick and easy online application process
  • Transparent about costs and fees
  • Fast funding
  • No origination fees, prepayment penalties, or termination fees

BlueVine: Cons

  • No line of credit available in ND, SD, and VT
  • If customers fail to pay an invoice, you’re on the hook to pay it back
  • Short repayment terms

Application Process

You can apply for a business loan with BlueVine in a matter of minutes and get funding in less than 24 hours. Applying won’t impact your credit score.

Information you’ll be needing to provide:

  • How much funding you’ll need
  • Which business loan type
  • Your name and phone number
  • Contact info
  • Business name and address
  • Annual revenue
  • Entity type
  • Tax ID/EIN or SSN
  • Existing Financing

After providing some basic details about you and your business, you’ll also need to provide a bank connection or 3 months of recent bank statements to complete your application.

You’ll receive a decision as quickly as five minutes after applying.

Privacy & Security

BlueVine is a reputable online lender with an A+ rating with the BBB. They’ve been operating since 2013 and have funded over $2 billion to over 15,000 small business owners over the years.

BlueVine has strict policies in place to protect user information, such as the use of secure servers, SSL technology, SSL encryption, and upholding more safety standards required by law.

Customer Support

You can contact BlueVine via phone, email, or their online form. Their hours are Mon – Fri from 8am to 8pm (EST) and Saturday from 12pm to 4pm (EST).

They have a comprehensive FAQ page that reviews more information about their loans as well as a blog page highlighting a variety of business-related topics, such as small business tips, business stories, BlueVine updates, and more.

When reaching out to BlueVine via phone, we were able to get in touch with them immediately. Their customer support was friendly and helpful.

Final Thoughts

Overall, BlueVine has a pretty solid rep in the lending world for delivering quick funding for small businesses who need it. They offer term loans, lines of credit, and invoice factoring—perfect options for helping with those cash flow issues your business might be experiencing. They’ve been around since 2013 and have facilitated over $2 billion in business loans and have an A+ rating with the Better Business Bureau.

Their loan requirements are fairly standard compared to their competitors—690 credit score minimum, $504,000 in annual revenue, and at least 2 years in business—but certainly more relaxed than your traditional banking institution.

Their online application process is quick and easy and won’t harm your credit score. While you might find better rates elsewhere, it’s worth filling out an application to see what you qualify for.

Address

BlueVine

401 Warren Street

Redwood City, CA 94063

 

Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website. These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Jessica Cotzin Jessica Cotzin
Jessica Cotzin is a writer and the Lendstart authority on small businesses and personal loans. She has been writing about personal finance and the loans industry for a number of years, and holds a bachelor’s degree in journalism from Florida Atlantic University.
This review is based on the writer's personal opinion.