Bluevine Small Business Financing Review

Home Business Loan Reviews Bluevine Small Business Financing Review

Bluevine

Interest rate

Starting at 5.9% for weekly repayment schedule, 7.8% for monthly repayment schedule

Funding amount

Up to $250,000

Term

6 or 12 months

Min. credit score

650

Time to funding

As fast as same-day

Bluevine is a fintech company that specializes in providing small businesses with fast and simple access to funding. Founded with the aim to help small businesses succeed, Bluevine offers business lines of credit, business term loans, and business credit cards. Bluevine’s focus on speed and efficiency, leveraging cutting-edge technology to offer quick application processes and rapid funding decisions sets it apart from other lenders. This makes it an ideal partner for small businesses that require immediate financial support to manage cash flow, cover unexpected expenses, or invest in growth opportunities.

 

Pros

  • Fast funding
  • Option for monthly or weekly payments
  • Relatively low credit score requirements
  • Can borrow up to $250,000

Cons

  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Repayment terms limited to 6 or 12 months
  • $40,000 monthly revenue requirement

Bluevine

Apply through Lendio How it works

Interest rate

Starting at 5.9% for weekly repayment schedule, 7.8% for monthly repayment schedule

Funding amount

Up to $250,000

Term

6 or 12 months

Min. credit score

650

Time to funding

As fast as same-day

Bluevine is a fintech company that specializes in providing small businesses with fast and simple access to funding. Founded with the aim to help small businesses succeed, Bluevine offers business lines of credit, business term loans, and business credit cards. Bluevine’s focus on speed and efficiency, leveraging cutting-edge technology to offer quick application processes and rapid funding decisions sets it apart from other lenders. This makes it an ideal partner for small businesses that require immediate financial support to manage cash flow, cover unexpected expenses, or invest in growth opportunities.

 

Pros

  • Fast funding
  • Option for monthly or weekly payments
  • Relatively low credit score requirements
  • Can borrow up to $250,000

Cons

  • Not available to businesses in Nevada, North Dakota, and South Dakota
  • Fees for drawing on your line of credit
  • Repayment terms limited to 6 or 12 months
  • $40,000 monthly revenue requirement

Loan offerings through Bluevine.

Bluevine presents a variety of loan products tailored to meet the unique needs of small businesses. The primary offerings include:

Both of these products are designed with flexibility in mind, providing small businesses with the financial support they need to thrive in today’s competitive environment. However, this review will focus mainly on Bluevine’s business line of credit offering.

Bluevine business line of credit quick facts
Loan amount rangeUp to $250,000
Time in business24 months
Minimum credit score625
Minimum monthly revenue$40,000
Repayment scheduleWeekly or monthly
Fees$15 fee to receive funds via wire transferPotential for late fees
Funding speedAs quickly as same day depending on your bank

See if your business is eligible for financing.

How much money are you looking for?

Things to consider.

Fast funding

One of the standout features of Bluevine’s financing solutions is the quick funding it offers to small businesses. Businesses can receive a decision within minutes and, upon approval, access funding as fast as the same day. 

Low credit requirements.

Bluevine’s relatively low minimum credit score requirement of 625 makes it accessible for small businesses that might not qualify for financing through traditional banks. This inclusivity is crucial for newer businesses or those with a few financial hiccups in their history, allowing them a chance to secure the funds needed for growth or operational expenses. 

Limited repayment terms.

Bluevine’s terms are restricted to short terms of 6 or 12 months, which can lead to higher monthly payments compared to loans with longer repayment periods. This could potentially strain a business’s cash flow, especially if the business encounters unexpected financial hurdles. 

Option for weekly or monthly payments.

With the option to choose between weekly or monthly repayments, businesses can select a schedule that best aligns with their income streams and financial planning. This feature is particularly beneficial for businesses that experience seasonal fluctuations in revenue or those that receive payments from clients at irregular intervals. By choosing a payment plan that mirrors their cash flow, businesses can manage their finances more effectively, avoid liquidity issues, and maintain a positive working capital.

Great customer reviews.

Bluevine has an excellent A+ rating with the Better Business Bureau and a 4.3 out of 5 star rating on Trustpilot. Customer reviews typically praise Bluevine’s great customer service and highlight how easy it is to work with the lender.

Evaluation

Bluevine is best for:

When considering Bluevine for your small business financing needs, it’s valuable to understand who stands to gain the most from their offerings. Here are things that Bluevine does well:

Where Bluevine might fall short:

While Bluevine stands out for its strengths in fast funding, moderate credit requirements, and flexible repayment options, it’s equally important to understand areas where its offerings might not align perfectly with every business’s needs. Here are some considerations to keep in mind when evaluating Bluevine as your small business financing partner:

How to apply for financing from Bluevine through Lendio.

Applying for financing through Bluevine via Lendio is a streamlined process designed to connect your business with the funding it needs with minimal hassle. Lendio is a small business loan marketplace with multiple lenders that will help match small businesses with loans that suit their unique needs. Here’s how you can get started:

  1. Complete Lendio’s online application form: You will need to fill out a brief online application on Lendio’s website. The form asks for basic information about your business, such as its name, how long it’s been in operation, your monthly revenue, and the amount you’re looking to borrow.
  2. Documentation submission: Alongside your application, you will be asked to submit documents that verify your business’s financial standing. These could include recent bank statements, income statements, balance sheets, and tax returns. Having these documents ready in advance can speed up the process.
  3. Review and acceptance: Once your application is submitted, Lendio will match you with potential lenders that fit your needs. If Bluevine is a good fit for your financing requirements, you will receive an offer outlining the terms of the loan. Review these terms carefully to ensure they align with your business goals and repayment capabilities.
  4. Finalize the deal: If you decide to proceed with Bluevine, you will work directly with their team to finalize the loan details. This may involve additional verification steps or documents.

The bottom line.

Bluevine stands out as an exceptional choice for those seeking quick, accessible funding solutions with flexible repayment terms.

Ready to compare Bluevine with other financing options? Check your eligibility and get multiple financing offers for your small business in one place.

*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page (October 24, 2022). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.

Fueling the
American Dream

$12,000,000,000+

DOLLARS FUNDED THROUGH LENDIO

74+

LENDERS IN Lendio’s NETWORK

300,000+

LOANS FUNDED

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Applying is free and won’t impact your credit.

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