BlueVine Business Loan Review

Loan Types: Invoice Factoring

Availability:

Securities: Against Unpaid Invoices

Loan amount: $5,000 - $50,000

Interest: APR: 30% to 50%

Overall Rating

Quick

Quick Approval
Positive Media Coverage
Target Audience: US Merchants with Unpaid Invoices

About BlueVine


BlueVine is an American answer to the B2B ecommerce movement led by British companies.

Based in Palo Alto, California, the company exists to help businesses finance the sometimes 30 to 60 day gap between services rendered and final payment. Users link invoices directly to BlueVine software, choosing individual accounts to “get paid” for.

The invoice is paid, the money taken from a line of revolving credit, and is replenished when the client issues payment or the user pays off the balance.

Cashflow

Cashflow

BlueVine is a great way of taking anything between a $5,000 micro-loan and $50,000 SMB loan, against business unpaid invoices.

Quick Approval

Quick Approval

Approval and financing with 24 hours.

Credible

Credible

Much needed service that have been covered in magazines like Tech Crunch and Venture Beat.

The Good and the Bad


Fast. BlueVine provides a good service fast. Approval and financing can both be accomplished in less than 24 hours.

Helpful. The service really is necessary, as businesses often have difficulty maintaining cash flow while waiting for payments to come through.

A Commitment. Though BlueVine is a good service, it takes work. Users have a Bluevine checking account where payments are routed. If you are careful, the service can be effective and affordable. If you’re not, as with any line of credit, it can get expensive fast. That sky-high APR only kicks in if you don’t keep to the agreed upon repayment period of 1 to 12 weeks. There are also variable fees. It all amounts to a good service requiring a certain amount of vigilance from the user.

Which type of companies do they apply to?


BlueVine doesn’t list specific business requirements, though you must use professional accounting software like FreshBooks, among other possible options. For discounts, a user must have a minimum of $30,000 invoiced monthly.

Are bad credit businesses accepted?


 

To a point. Because some businesses have bad credit specifically because of the problem BlueVine is in business to fix, these are often approved.

Early repayments & Comparison


There is no penalty for early repayment.

 

How do they compare with other companies in the industry:

 

BlueVine provides sensible financing, with much simpler terms that several of their more prominent American competitors (cough…cough…Kabbage). If used correctly, BlueVine will be a very helpful tool for a variety of businesses and sole proprietorships.

Reputation & Feedback


 

Though still coming into its own, BlueVine has pretty universally good reviews and press. Their rise in the American B2B lending sphere has been written about in Venture Beat, Tech Crunch, and Geek Time.

Smooth, easy, and fast invoice factoring service

Bottom Line


BlueVine provides a necessary service, helping businesses maintain cash flow while awaiting pending invoice payments. Like every other similar service, this is an expensive proposition, but only if the business is long in paying off the credit line balance. Used correctly, BlueLine is an excellent option. Those who feel they may not be able to give this service the attention required to really make it work had better look elsewhere, or pay a lot of money for their inattention. All others will like the financial freedom offered by BlueVine.

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