Bluevine Line of Credit Review
 | Estimated interest range: Starts at 6.20% simple interest for a -week repayment term Best for: Small business owners who need quick funding and are bringing in at least $40,000 per month |
Pros and cons of Bluevine
| Pros | Cons |
|---|---|
Quick funding options Limited fees Competitive starting interest rates compared to other online lenders Accepts fair credit scores | Same-day funding could incur a fee High monthly revenue requirements Must operate for at least two years to qualify Doesn’t list maximum interest ranges Third-party term loans are managed by other lenders, not by Bluevine itself |
Bluevine small business loans review
Bluevine offers a range of small business solutions, including small business financing, business credit cards, business checking accounts and an automated bill management system that syncs with QuickBooks Online. You can access up to $250,000 in revolving funds with its business line of credit or explore financing options through its network of partner lenders.
Founded in 2013, Bluevine offers quick funding times. If you already have a Bluevine Business Checking account, you could access your cash immediately after approval. Otherwise, it generally takes one to three business days to receive your line of credit funds.
While Bluevine offers competitive starting rates and accepts credit scores as low as 625, it doesn’t disclose maximum interest rates in advance, making it hard to estimate how much its business line of credit or partner loans could cost you. And it requires businesses to operate for two years and have at least $480,000 in annual revenue to qualify, making it a better choice for established businesses than early-stage startups.
Note that Bluevine only directly offers business funding in the form of a line of credit. If you want a term loan, it’ll be offered through one of Bluevine’s third-party partner lenders, and you’ll have to work directly with that other lender — not with Bluevine itself.
Who is Bluevine for?
- Established businesses with relatively high revenue. You need 24 months of business history to qualify for a Bluevine line of credit, plus at least $40,000 in revenue per month.
- Those looking for quick funding. Bluevine can get your loan funded instantly to a Bluevine Business Checking account, or as little as a few hours to another bank — if you’re willing to pay a $15 wire fee. Otherwise, fee-free funding can take one to three business days.
- Borrowers with less-than-perfect credit who want to pay reasonable rates. While starting interest rates aren’t the lowest at Bluevine, they are competitive with other online lenders — and the minimum credit score is only 625.
Bluevine small business financing at a glance
| Product | Loan amounts | Repayment term | Starting interest | Fees |
|---|---|---|---|---|
| Line of credit | $6,000 to $250,000 | 6 or 12 months | Starting at 6.20% simple interest for a -week repayment term | $15 wire transfer fee for same-day draws to non-Bluevine account |
Line of credit
Businesses needing flexible funds can access between $6,000 and $250,000 with a Bluevine business line of credit. Repayment terms are 6 months with weekly repayments or 12 months with monthly repayments. Similar to a credit card, you can borrow up to your credit limit as often as needed, repay the debt and borrow again — only paying interest on the amounts withdrawn.
Bluevine’s interest rates start at 6.20% simple interest for a -week repayment term. However, it doesn’t disclose maximum interest rates so there’s no way to predict how high your rate will go until you submit an application.
For those needing same-day funding, Bluevine claims you can get approved in as little as five minutes, with funds instantly delivered to your Bluevine Business Checking account. This checking account offers a 2% APY on the standard plan with no monthly fee, and there are account options with higher APYs as well.
To get same-day funding to a non-Bluevine checking account, you will need to use a wire transfer with a $15 fee. Alternatively, you can receive your loan proceeds for free via ACH, which can take up to three business days to complete.
Bluevine borrower requirements
| Minimum annual revenue | $480,000 |
| Minimum time in business | 24 months |
| Minimum credit score | 625 |
Your business needs to operate for at least 24 months and pull in a minimum of $40,000 a month to qualify for a Bluevine line of credit. You must also be registered as a corporation or LLC — sole proprietors are not eligible.
Bluevine accepts credit scores as low as 625, but your business must be in good standing with your secretary of state and have no bankruptcies.
Businesses in the following industries are prohibited from receiving a Bluevine line of credit:
- Auto dealerships
- Nonprofits that operate through donations
- Financial institutions and lenders
- Insurance companies
- Cryptocurrency businesses
- Penny auction companies
- Businesses involved in illegal or controlled substances, including marijuana-related products
- Businesses dealing with firearms and related paraphernalia
- Political campaigns
- Pornography and related paraphernalia businesses
- Illegal gambling operations
Regardless of industry, businesses based in Nevada, North Dakota, South Dakota, Puerto Rico or other U.S. territories aren’t eligible for Bluevine lines of credit.
Required documents
When applying for a business line of credit, Bluevine will ask for permission to access your business checking account data through Plaid. Alternatively, you could opt to provide bank statements from the past three months.
You will also be asked to provide basic contact and personal information and documents for yourself and your business, including your business tax ID or Employer Identification Number (EIN), annual revenue and information about any existing financing.
Alternatives to Bluevine
| Bluevine | Fundbox | American Express Business Line of Credit | |
|---|---|---|---|
| Minimum credit score | 625 | 600 | 660 |
| Loan products offered | Line of credit | Line of credit | Line of credit |
| Time to funding | Instant or up to three business days | As soon as next business day | One to three business days |
| Starting interest rates | 6.20% simple interest for a -week repayment term |
|
|
| Maximum loan size | $250,000 | $150,000 | $250,000 |
| Minimum annual revenue | $120,000 | $100,000 | $36,000 |
Bluevine vs. Fundbox
If you like the idea of a business line of credit but can’t meet Bluevine’s $480,000 annual revenue requirement, Fundbox is another online lender worth considering.Fundbox only requires a six-month business history, making it a great choice for startup business financing. However, Fundbox’s $100,000 annual revenue requirement could be a challenge for newly established companies.
Like Bluevine, Fundbox also offers quick business financing — delivering funds as soon as the next business day. When comparing interest rates, Fundbox’s line of credit starts at 4.66% compared to Bluevine’s lowest rate of 6.20%. That said, you won’t know your final rate with either lender until you submit an official application.
One advantage to Fundbox is its Flex Pay program, giving your business an extra three days to pay with no additional fees. You can also upgrade to Fundbox Plus to unlock 20% off fees and other exclusive benefits, although its website doesn’t give specifics about these perks.
Those needing access to more funds might prefer Bluevine since it offers up to $100,000 more than Fundbox.
Bluevine vs. American Express Line of Credit
If your company has been operating for at least one year with a minimum credit score of 660, the American Express Business Line of Credit could be a good fit. The max borrowing limits are the same as with Bluevine — up to $250,000 in revolving funds. However, you only need $36,000 in annual revenue to qualify, while Bluevine requires at least $480,000.
Business owners with a business credit card from American Express might already be pre-approved for its business line of credit. You can sign into your account to view your options.
One benefit of the American Express Business Line of Credit is its range of flexible payment options. You can pick between a 6-, 12-, 18- or 12-month term with a corresponding monthly fee — allowing you to choose what works best for your business’s current needs. However, the fee structure can be a bit confusing, with each draw becoming a separate installment loan.