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  BlueVine Business Loan

BlueVine Business Loan

in Business Loans from BlueVine

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BlueVine Business Loan

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in Business Loans from BlueVine

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Highlights
Loan Amount Up to $2,000,000
APR  (Fixed APR) 4.8% - 60%
Loan Term (Months) N/A

BlueVine Business Loan Review

BlueVine is a business financing offering by BlueVine, based in Palo Alto, CA. Founded in 2013, BlueVine offers access to small business loans in 50 states (and Washington, DC).

BlueVine FAQ

What are BlueVine’s rates?

BlueVine offers a fixed APR business financing product that ranges from 4.8% APR up to 60% APR.

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 business 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 business loan?

BlueVine considers business loan applications for business purposes, such as:

  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of small business loans does BlueVine offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. BlueVine provides access to the following business loan types:

  • Unsecured Term Business Loans
  • Secured Term Business Loans

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 business loan off early.

What do you need to qualify for BlueVine Business Loan?

BlueVine Business Loan requires companies to be in business for at least 3 months. Businesses must have a minimum annual revenue of $100,000 to be considered.

Applicants with a credit score of at least 530 and up to 850 may be eligible for BlueVine Business Loan.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the BlueVine Business Loan product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by BlueVine Business Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

What is the estimated funding time for a business loan via BlueVine?

BlueVine can approve (or deny) a business loan application within 1 hour and fund small business loans within 1 business day of approval.

Does BlueVine Business Loan report your account activity to credit bureaus?

Yes, BlueVine Business Loan reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From BlueVine Business Loan

Don't wait on net terms. Get an advance on your outstanding invoices with Invoice Factoring. Get a credit line based on the strength of your customers. As your sales grow, so can your credit limit. Unlike a traditional loan, there are no recurring payments when your customer pays by the invoice due date. You decide how many and which invoices to submit. Fund only what you need, when you need, without long-term contracts. Know exactly what you’re paying with our straightforward fees. We charge a simple weekly fee due when the invoice is paid.

Get the flexibility of a revolving line of credit. Draw as
you need and pay only for what you use. Enjoy peace of mind by having money available for any business expense. Draw funds with a click of a button. No fees to open or maintain your line. No prepayment fees, monthly maintenance fees, or account closure fees. Draw as little or as much as you want from your available credit. Your credit line replenishes as you make repayments. We support your business growth by getting you the right credit line for your business size at any stage. The Paycheck Protection Program (PPP) supported small businesses with 100% federally guaranteed loans to overcome obstacles created by the COVID-19 pandemic. Small businesses could apply for up to 2.5x their monthly payroll costs, or more in certain circumstances. A PPP loan had a maturity of 2-5 years, an interest rate of 1.00%, and could function like a grant if businesses met certain forgiveness criteria.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 8:00pm
  • Tuesday 8:00am - 8:00pm
  • Wednesday 8:00am - 8:00pm
  • Thursday 8:00am - 8:00pm
  • Friday 8:00am - 8:00pm
  • Saturday Closed

Other Services by BlueVine

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
Origination Fee (%) Starting at 0%
Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 530 - 850
Employment Statuses Considered Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 3
Minimum Revenue $100,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Social Security Number
  • Driver License (or other photo ID)
  • Employer Identification Number
Business Loan Type
  • Unsecured Term Loan
  • Secured Term Loan
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range Starting at 1 day
Payment Frequency Monthly
Payment Options Automatic Payments
Pre-Approved Soft Credit Inquiry
Loan Amount Up to $2,000,000
APR (Fixed APR) 4.8% - 60%

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