|Loan Amount||$5,000 - $5,000,000|
|APR||4.8% - 60%|
|Loan Term (Months)||N/A|
Where does BlueVine do business?
BlueVine is a direct lender based in Palo Alto, CA. It was founded in 2013 and offers access to business loans in 50 states (and Washington, DC).
What are BlueVine’s rates?
BlueVine offers business loans with fixed APRs starting from 4.8% to 60%.
Does BlueVine charge an origination fee?
No, BlueVine does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
What limitations does BlueVine set on the purpose of the loan?
BlueVine considers loan applications for business purposes, such as:
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Working capital
What types of business loans does BlueVine offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. BlueVine provides access to the following business loan types:
- Lines of Credit
- Invoice Financing
Does BlueVine charge prepayment fees?
No, BlueVine does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow from BlueVine?Loan amounts start at $5,000 and go up to $5,000,000.
What do you need to qualify for a loan with BlueVine?
Applicants with a credit score of at least 530 can apply for a loan via BlueVine. BlueVine requires companies to be in business for at least 3 months.Businesses must have a minimum annual revenue of $100,000 to be considered.
Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
What is the estimated funding time for a business loan via BlueVine?
BlueVine can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.
Does BlueVine report loan payments to credit bureaus?
BlueVine may report credit data to the following credit reporting agencies:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Origination Fee||Starting at 0%|
|Credit Score Range||
530 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||3|
|Verification Documents Required||
|Loan Amount||$5K - $5M|
|APR (Fixed APR)||4.8% - 60%|