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Bluevine Review


ConsumersAdvocate.org Rating: 3.6 / 5 (Very good)
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Founded in 2013, Bluevine is a financial technology company that offers lines of credit (issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC) up to $250,000. The company offers a 5-minute application process online and borrowers may receive funding in as few as 24 hours of approval. Bluevine is located in Redwood, California and is rated A+ by the Better Business Bureau.

How is Bluevine rated?

Breakdown

3.0/5
Loan Options
3.5/5
Application Requirements
4.0/5
Average Rates & Fees

Overall Rating: 3.6 / 5 (Very good)

Bluevine is a great option for small business owners looking for lines of credit. The company’s credit qualifications are less strict than many competitive small business lenders. Lines of credit are available up to $250,000. The company offers loan terms of either 6 or 12 months. While APRs are not extensively mentioned, they do state that there are no penalties for terminating the service, which is great for businesses that only need help in the short term.

Additionally, their quick application and speedy funding times are convenient for making payroll, purchasing inventory, materials, and equipment, smoothing cash flow, and expanding marketing efforts.

Loan Options

Available Loan Types

SBA Loans
Revenue-based Financing
Equipment Funding
Working Capital Loans
Term Loans
Lines of Credit
Invoice Financing
Merchant Cash Advances
Equipment Loans

Business Lines of Credit

Max Loan Amount
$250,000
Min Term Length
6 months
Max Term Length
12 months
Repayment Terms
Fixed weekly or monthly payments

Invoice Financing

Loan Amount
Repayment Terms

Loan Options - 3 / 5

Bluevine offers business owners just one lending solution: the Bluevine Line of Credit, which is issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. The Bluevine Line of Credit is available up to $250,000 and can be repaid in 6 or 12 months.

With Bluevine's online dashboard, clients can draw funds from their line of credit instantly if they connect their account to any of a number of accounting applications.

ACH payments are free of charge with a Bluevine account. The company charges wire transfer fees of $15.

Bluevine Rates & Fees

Lines of Credit

Min. Simple Interest
4.8%

Lines of Credit

Fees: No long-term contracts or termination fees.

Average Rates & Fees - 4 / 5

Presently, the Bluevine Line of Credit is available with simple interest starting at 4.8%, calculated from total repayments over 26 weeks.

However, Bluevine's website states that its services do not require a long-term contract or charge early termination fees. This is great for business owners who only need help getting over a rough patch and foresee business will pick up in the near term.

Application & Qualifications

Online Application
Approval Time
As little as 24 hours
Funding Time
As little as 24 hours
Min. Annual Revenue
$120
Min. Credit Score
625

Application Requirements - 3.5 / 5

Business owners can apply for lines of credit through Bluevine's simple online application, which also involves the creation of an online account.



Applications are often approved in as few as 24 hours and funds may be available a day later via ACH electronic transfer.

Additional qualification requirements include documenting cash flow and customer base and a satisfactory credit history. Line of credit customers must have a credit score of 625 or higher, monthly revenue of $40,000, and have been in business for at least 24 months.

Bluevine Reputation

Customer Feedback

Trustpilot Score
4.3 out of 5
BBB Rating
A+
BBB Positive Reviews
0
BBB Neutral Reviews
0
BBB Negative Reviews
4
Date Collected
2022-11-30

Consumer Education - 3.8 / 5

Bluevine is accredited and rated A+ by the BBB. Only four customer reviews are posted on their profile, all of which are negative, along with 5 complaints.

However, complaints seem to be based on customers' misunderstanding of the small business loan terms, and the company is active in responding to these reviews.

On the other hand, their Trustpilot reputation is very positive, with a 4.3 out of 5-star rating. Customers praise how easy and fast it was to receive funding from the company.

Contact & Additional Information

Homepage URL
Company Phone
(888) 216-9619
Headquarters Address
401 Warren St., Redwood City, CA, 94063
Year Founded
2013

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Customer Comments & Reviews

Loading Reviews ...
rmc2sail
8/10/2022
Blue Vine has terrible customer service. I tried to open a business checking account for a DE based series LLC. I filled out the necessary paperwork and was rejected without even a telephone call. I even called them twice. The process is too automated, if they cant service the account properly when I'm opening the account, what about when I have a real problem. Avoid this poor service company at all costs. There are plenty of options....this one is heavily repped by paid promoters, rather than spending the money on customer service.


hhhcattlellc
3/26/2020
It is the worst people to do business with!!! They tried to charge 33% the first month!!! Everything is lies!!!!! beware


lemonde2244
3/5/2020
All lies. Just wasting time applying and talking to their commissioned agents, All you hear is high risk industry o three different businesses, even though credit score is 690. Just got a loan from Capital one, great company.


K
kevin b
8/28/2019
Blue Vine keeps quite a bit of leverage over you as a customer that is not initially disclosed. The company claims to not store your bank log-in credentials used to initially verify you as a qualified borrower. My initial agreement was a 6 month credit line draw that could be accessed as long as I was within my credit limit and making the agreed payments. In my case, I changed my password after being approved for $8,000 flex credit arrangement with Blue Vine and my account was put on hold within one month. When Blue Vine lost the access to look over my shoulder using my bank log-in credentials my account was put on hold. A phone call with a representative confirmed they either... Read More



Our Partner

Lines of credit up to $250,000

  • Apply online and get a decision in minutes
  • Once approved, receive funds in one to seven days 
  • No long-term contracts and no termination fees
  • Must have $10,000 in yearly revenue