BlueVine Reviews
Compare BlueVine's Small Business Loans, including rates and terms, to popular lenders Kabbage, OnDeck, and Accion. Includes customer feedback and FAQs.
Updated on June 29th, 2022
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BlueVine Capital Inc. offers small business loans and cash advances to help companies meet their payroll, purchase supplies, or expand.
Loan Rates:
Loan Type | Loan Amount | Interest Rates | Payment Terms |
|---|---|---|---|
Term Loan | Up to $250,000 | Starting at 4.8% | 6 or 12 months |
Line of Credit | Up to $250,000 | Starting at 4.8% | 6 or 12 months |
Invoice Factoring | Factoring lines up to $5,000,000 | Starting at 0.25% | N/A |
Paycheck Protection Program Loan* | Up to $2,000,000 | 1.0% | 2 years (no payments for 6 months) |
Review:
BlueVine's services are commended for being fast and efficient. Where many lenders require borrowers to be in business for at least a year if not two, BlueVine's requirement in this respect is at least 6 months, making it a great option for startups that require fast funding. However, if you are looking for a long-term loan, you are better served elsewhere as BlueVine only offers short repayment terms.
Pros:
- Easy application process and fast approval and funding process.
- Relaxed qualification requirements.
- Suitable for startups.
Cons:
- Certain loan products are not available in all states.
- Term loans require weekly payments.
- Payment terms up to 12 months only.
Reputation:
BlueVine is BBB accredited and was given an A+ rating by the Bureau. Customer reviews on the Better Business Bureau site are overwhelmingly positive, praising BlueVine for great customer service and fast, seamless processes.
At-a-Glance:
Online Dashboard | Yes. |
Mobile App | Yes. |
Lines of Credit | Yes. |
Term Loans | Yes. |
Customer Support | Phone and email. |
24/7 Support | No. |
BlueVine vs. Kabbage:
Unlike Kabbage, BlueVine also offers term loans and invoice factoring. Both offer lines of credit up to $250,000 but differ in their qualification requirements. Kabbage accepts lower credit scores but requires the business to be operating for at least one year whereas BlueVine only requires you to have been in business for a minimum of 6 months.
BlueVine vs. Kabbage Comparison:
Offer | BlueVine | Kabbage |
|---|---|---|
Loan Type | Line of credit | Line of credit |
Max. Loan Amount | $250,000 | $250,000 |
Terms | 6 or 12 months | 6, 12, or 18 months |
Interest rate | Starting at 4.8% | Monthly fees from 1.25% to 10% |
Min. Credit Score | 600 | 560 |
BlueVine vs. OnDeck
BlueVine and OnDeck both offer credit lines and term loans, but only BlueVine also offers invoice factoring. If you are looking for a term loan, OnDeck presents the more attractive offer with longer, more flexible payment terms (up to 36 months vs. 6 or 12 months) and a greater maximum loan amount ($500,000 vs. $250,000).
BlueVine vs. OnDeck Comparison:
Offer | BlueVine | OnDeck |
|---|---|---|
Loan Type | Term loan | Term loan |
Max. Loan Amount | $250,000 | $500,000 |
Terms | 6 or 12 months | 3 - 36 months |
Interest Rate | From at 4.8% | From 11.9% |
Min. Credit Score | 600 | 600 |
BlueVine vs. Accion:
BlueVine and Accion both offer term loans up to $250,000 at reasonably competitive rates. Accion, a nonprofit community organization, stands apart by being more accessible to borrowers with low credit scores. BlueVine, on the other hand, is a good option if you are interested in invoice factoring rather than a loan.
BlueVine vs. Accion Comparison:
Offer | BlueVine | Accion |
|---|---|---|
Loan Type | Term loan | Term loan |
Max. Loan Amount | $250,000 | $250,000 |
Interest Rate | Starting at 4.8% | 7% - 34% |
Min. Credit Score | 600 | From 525 - 575 (can vary by state) |
Key Information:
Legal Name | Bluevine Capital Inc. |
Founder | |
Founding Date | Aug 01, 2013 |
Address | 401 Warren Street, Redwood City, CA 94063 United States |
Number of Employees | 250 |
Number of Customers | 25000 |
Telephone | |
Website |
FAQs:
How does BlueVine work?
BlueVine Capital, Inc offers small business loans and cash advances to help businesses meet their payroll, purchase supplies, or expand. Once your business is approved, you can request funds via your online dashboard and get paid within a few hours.
Is BlueVine safe?
BlueVine has been BBB-accredited since 2014.
What is BlueVine's loan rate?
BlueVine interest rates start at 4.8%. There are no BlueVine fees to open or maintain a line of credit, no prepayment fees, monthly maintenance, or account closure fees.
What type of financial products does BlueVine Capital offer?
BlueVine offers lines of credit and invoice factoring.
What are the BlueVine line of credit requirements?
You need to be in business for at least six months, have a 600+ credit score, and $100,000 in annual revenue. You need to pay back each draw with fixed monthly or weekly payments over six or 12 months.
Which lending company is best for my business if I compare BlueVine vs. Kabbage?
Both BlueVine and Kabbage are popular lenders for small business. Kabbage has a wider variety of business loans and asks for a lower annual revenue stream. However, BlueVine only requires you to be in business for six months.
Where is BlueVine's headquarters?
BlueVine's headquarters is located in Redwood City, CA.
What are some BlueVine alternatives?
- Dealstruck.
- Kabbage.
- LoanBuilder.
- The Loan Exchange.
- Credibility Capital.
- Bank of America Small Business Loans.
- AltLine.
- Accion.
- Fundbox.
- Lendio.
- National Funding.
- StreetShares.