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BlueVine Small Business Loans: 2021 Review

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Susan Guillory
Susan GuilloryUpdated February 11, 2022

Overview of BlueVine

BlueVine offers a variety of business financing services. In addition to providing BlueVine lines of credit, the company also offers business checking accounts and payment management services.BlueVine previously operated an invoice factoring business. FundThrough, a fintech company, announced in January 2022 that it has acquired BlueVine’s invoice factoring business.
Pros and cons

Pros

  • Multiple business service offerings mean you have the option to keep more under one umbrella
  • Speed up the payment process with invoice factoring through FundThrough, which allows you to get an advance on outstanding invoices.
  • Fast funding on lines of credit

Cons

  • Lines of credit not offered in the states of Nevada, North Dakota, or South Dakota
  • Repayment period for line of credit is short: either 6 or 12 months
  • Repayments on line of credit are taken from your account weekly

BlueVine Small Business Loan Terms, Rates, and Fees

Loan amounts: Credit lines up to $250,000Simple interest rate range: starts at 4.80% for 6-month-term and 12-month-term lines of creditOrigination fee: NoneMinimum credit score: 600+ for line of credit (Updated as of Feb. 11, 2022.)Time to funding: As soon as a few hours after being approved

Other Lenders

As part of your research for the best lender for your needs, consider exploring these other small business lenders. It may be helpful to see how BlueVine compares to Kabbage and other alternative lenders.

What Types of Loans Does BlueVine Offer?

As mentioned, BlueVine has lines of credit, a business checking account, and a service allowing customers to send payments to vendors. BlueVine previously operated an invoice factoring business. FundThrough announced in January 2022 that it has acquired BlueVine’s invoice factoring business. The BlueVine line of credit provides funds up to $250,000, which can be continually used as funds are replenished.

Important to Keep in Mind

BlueVine’s line of credit comes with higher rates than traditional small business loans. Higher rates can make this financial product more expensive than small business loans, but for some businesses, there are few other options.

Applying for a BlueVine Small Business Loan

BlueVine’s application process for the line of credit appears to be straightforward and fast.

Applying for a BlueVine Line of Credit

The application for a line of credit starts with asking for some basic information about your business, such as how long you have been in business and your monthly revenues. If eligible, you can find out in minutes how much you are eligible for and at what rate.Once you connect your business bank account, you can access your funds within hours. As of Feb. 11, 2022, the BlueVine line of credit requirements include:
  • Minimum 600 FICO® Score
  • 6 months in business
  • $10,000 in monthly revenue

The Bottom Line

If you need cash fast and don’t qualify for traditional or SBA loans with lower interest rates, BlueVine provides speedy financing that may suit your needs. (Not sure who qualifies for SBA loans? Find out here.)The good news is: even if you run a startup and don’t have a long credit history or time in business under your belt, you could still qualify for invoice factoring through FundThrough, the company that acquired BlueVine’s invoice factoring business. Looking for more small business loan options? With Lantern's help, you can spend less time searching for financing and more time growing your business.

Frequently Asked Questions

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About the Author

Susan Guillory
Susan GuillorySusan Guillory is the president of Egg Marketing, a content marketing firm based in San Diego. She’s written several business books, and has been published on sites including Forbes, AllBusiness, and Cision. She enjoys writing about business and personal credit, financial strategies, loans, and credit cards. Follow her on Twitter @eggmarketing.
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