BlueVine Review : Flexible Invoice factoring and Business Line of Credit

October 6, 2016 / Reading: 4 minutes

Owning a small business can be like a roller-coaster when it comes to maintaining a steady cash flow. There comes a time where you may need a little help during an untimely moment of adversity and you may feel overwhelmed by all the online financial services online that provide these types of short-term cash advances.

BlueVine is one of the most recommended services. They provide both invoice factoring services and lines of credit for businesses to get what they need, when they need it.

Let’s take a closer look at how BlueVine may be able to help your business in the future.

Loan amountUp to $500,000
Estimated APR16 – 62%
Time to Approval1 day
Time to Funding1 day
Repayment term6 months
Prepayment penaltyNONE

Advantages of using BlueVine

Speed and efficiency are top priorities for BlueVine credit lines. Thankfully, you can get a line of credit opened up in the same day as your application. Invoice factoring is just as expedient. You could be withdrawing those much needed funds in as little as 24hrs and return your business back to its former glory or perhaps something better.

BlueVine provides both invoice factoring services and lines of credit for businesses to get what they need, when they need it.

This makes BlueVine’s services ideal for businesses who handle both regular clients and consumers, but also businesses who deal with other businesses and may have most of their profits tied up in large business contracts that they need to collect on A.S.A.P. if they want to continue to grow their business. It is not uncommon for contractors or B2B organizations to become unreliable on the promptness of their payments. BlueVine’s invoice factoring is clutch when it comes to collecting past-due invoices.

How the Process Works

BlueVine pays you the value of your owed invoices, minus their fees, at up to 85% of the amount. Once those fees are ultimately collected, you will receive the remainder. It’s a pretty efficient way to keep your cash flow in the positive, if you’re serious about the growth of your business and you don’t have the ideal credit score to secure a small business loan.

Even then, those loans can take months to clear and you may have just gambled away your market penetration opportunity. BlueVine doesn’t require perfect credit, they only care about the health of your business and, when it comes to invoice factoring, what the true value is on your invoices.

Is Bluevine Right For Your Business?

If your business operates at very sharp margins, BlueVine may or may not be a bit outside your league. These credit lines come with a high APR, so it is geared towards short-term emergencies for businesses who know they can afford the premiums and just want to fill in a gap between payrolls and keep things rolling.

Invoice factoring should only considered for businesses that have a list of reputable customers that actually have the resources to pay their bill, they are just delaying for whatever reason and your business needs these funds right now. If your invoices are filled with “diner dashers” and they stiff BlueVine, that means you must repay their advance with possible fees tacked on.

All of these decisions are made with care and caution, though, BlueVine wouldn’t be in business if they didn’t look at each client with an understand of their needs and what would be most appropriate for their business.