BlueVine - Line of credit
15.00 - 78.00%
Min. Credit Score
Pros & Cons
- Cash can be available within 12 to 24 hours.
- Multiple term lengths for different financing needs.
- Short repayment term results in higher payment amounts.
- Requires personal guarantee.
- Not available in North Dakota, South Dakota or Vermont.
Online lender BlueVine offers small-business owners multiple loan options to address short-term financing needs. BlueVine’s business line of credit or invoice factoring may be right for your business if you:
BlueVine's works best for short-term financing needs, like managing cash flow or buying inventory.
Loan amount: $5,000 to $250,000.
APR: 15% to 78%.
Loan term: 6 or 12 months.
How to qualify:
BlueVine’s invoice factoring works best for financing larger invoices, but only if your customers reliably pay on time.
Loan amount: $20,000 to $5 million.
APR: 15% to 68%.
Loan term: 1 to 13 weeks.
How to qualify:
Applying is quick, and once approved, BlueVine may offer you a . Here’s how long the approval process typically takes for BlueVine’s products:
If your customers are other businesses or organizations, they may not always pay you promptly. BlueVine’s invoice factoring, also known as invoice financing or accounts receivable financing, could ease cash flow hiccups caused by such delays.
Here’s how BlueVine invoice factoring works: You receive funding against invoices due in one to 13 weeks. BlueVine advances 85% to 90% of the invoice amount and then the remainder when a customer pays you, minus fees.
Poor credit can be an obstacle to obtaining small-business financing, but BlueVine considers you even if your credit score is below 630. The lender focuses on your business’s cash flow and, if you’re applying for an invoice factoring account, the creditworthiness of your customers.
With annual percentage rates of up to 68% on its invoice factoring accounts, BlueVine is more expensive than many business loan options.
BlueVine invoice factoring lets you tap unpaid invoices as a source of capital, but you must have reliable customers who have strong credit and pay their bills.
BlueVine gives your customer two weeks to directly pay your BlueVine account. If a customer fails to pay, you have to pay back the invoice.
BlueVine's line of credit carries short repayment terms of up to 12 months, which results in higher payment amounts.
Its line of credit is repaid weekly or monthly. The high frequency of payments can pose an issue for businesses that have uneven sales or don't hold much cash in a bank account.
If you’d like to compare loan options, NerdWallet has a list of that are best for business owners. All of our recommendations are based on the lender’s market scope and track record and on the needs of business owners, as well as rates and other factors, so you can make the right financing decision.
Frequently asked questions
The short answer is yes. BlueVine is an online lender that provides business financing. It also offers a through The Bancorp Bank. The private company has raised $767.5 million in funding, according to , which tracks startups.
BlueVine is an online lender that provides multiple financing products for small-business owners. You can apply online in a few minutes, and once approved, you may have access to cash by the same day.
BlueVine accepted business loan applications for the U.S. Small Business Administration’s until the program ended on May 31, 2021. The first and second-draw forgivable loans were intended to help small businesses hard hit by the coronavirus pandemic to cover payroll costs and other expenses.