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  BlueVine Business Loan

BlueVine Business Loan

in Business Loans from BlueVine

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BlueVine Business Loan

Unaffiliated

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

BlueVine Business Loan FAQ

What are BlueVine Business Loan’s rates?

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

Does BlueVine Business Loan charge an origination fee?

No, BlueVine Business Loan 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 Business Loan set on the purpose of the loan?

BlueVine Business Loan 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 Business Loan 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 Business Loan provides access to the following business loan types:

  • Unsecured term loans
  • Secured Term Loans

Does BlueVine Business Loan charge prepayment fees?

No, BlueVine Business Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the 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 Business Loan?

BlueVine Business Loan can approve (or deny) a loan application within 1 hour and fund 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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.

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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