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BLUEVINE 2021
IN-DEPTH REVIEW

In-depth review of BlueVine business loans. Discover whether or not you qualify for a BlueVine loan and if it's the right choice for your business.

8.6

Overview

With over 5 years in business and over a billion dollars in funds delivered, BlueVine has quickly made a name for themselves when it comes to business financing solutions. They offer two funding solutions: invoice factoring services and business line of credit. Customers can easily apply online and approval can be completed in just 20 minutes.

 

 

Features

With their invoice factoring and business line of credit, BlueVine makes a great choice for businesses that require financing to cover large expenses, expansion fees, payroll, and more.

Their business line of credit loans feature allows businesses to access funding of up to $250K. Businesses draw whenever they need and only pay for what they actually use. To qualify for this type of loan, businesses require a credit score of at least 600. Furthermore, lines of credit loans are not available to those located in Kentucky, Tennessee, Nevada, Vermont, New Hampshire, North Dakota, and South Dakota.

Invoice factoring is a slightly different process and can range from $20,000 all the way up to $5M. This typically requires a credit score of at least 530 and funds can be transferred in as little as 1 day.

 

 

Application Process

BlueVine has a quick and simple online application that asks basic questions about your contact info and business. The application also requires your last three bank account statements and offers the ability to connect your accounting or invoicing software. After submitting the application, a BlueVine representative will contact you by phone to walk you through the loan process.

 

 

Repayment Terms

Like all business loan providers, exact repayment terms can vary greatly depending on the loan amount, the term length, and the business' information.

 

 

Customer Support

BlueVine is known for their excellent customer support and has representatives available by phone Monday through Friday 8AM to 8PM EST and Saturdays from 12PM to 4PM. However, they don't offer 24/7 support.

BlueVine's website also has a comprehensive FAQ section plus a business blog with helpful tips and articles.

PROS
  • 5-minute online application
  • Automatic repayments
CONS
  • Wire transfers cost extra
BOTTOM LINE
Invoice factoring and line of credit solutions for small businesses.
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Joe Schwartz

Business Loans Editor

Joe is the chief content editor of TheTop10Sites and manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.