- Offers business lines of credit
- Minimum FICO score of 625
- Must earn at least $480,000 annual revenue
Bluevine is a fintech company founded in 2013 that helps businesses grow by providing access to funds to cover various business expenses.
It offers a variety of financial products for businesses, including checking accounts, credit cards, and lines of credit. Here, we’ll focus on its business line of credit.
You may qualify for a Bluevine small business line of credit if you have at least a 625 FICO score and your business generates at least $480,000 in annual revenue. Here’s a closer look at what you need to know if you’re considering this option for your business.
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About Bluevine small business loans
Bluevine offers business lines of credit funded through its partner lender—Celtic Bank. Qualified applicants can borrow up to $250,000 from Bluevine’s business line of credit to cover a range of business expenses.
A business line of credit is different from a loan in that it allows you to draw funds as you need them and repay only what you’ve used plus interest. It’s different from a small business loan, in which you receive the entire borrowed amount in a lump sum and repay it plus interest in regular installments over a specified repayment period.
A business line of credit is kind of like a credit card, but you must request to draw funds from the line. Here’s a look an at-a-glance look at more of the details of Bluevine’s business line of credit.
| Term | Detail |
| Loan amounts | $6,000 – $250,000 |
| Minimum interest rate | 6.2% simple interest rate based on a 26-week repayment period |
| Repayment terms | Weekly over 26 weeks or monthly over 12 months |
| Fees | Late fee of 5% of the overdue amount or a minimum of $35 |
| Minimum credit score | 625 |
| Funding speed | As early as the same day for a $15 fee or by the next business day for free |
| Bankruptcy | No bankruptcies in the last 3 years |
| Availability | Not available in Nevada, North Dakota, South Dakota, or U.S. territories such as Puerto Rico |
| Time in business | At least 2 years |
| Annual revenue requirement | $480,000 |
How do Bluevine small business lines of credit work?
Because Bluevine offers a small business line of credit, not a small business loan, you are approved for a total loan amount—up to $250,000—but you only need to use (and repay) what you need.
You can transfer funds from your line of credit to your business checking account via direct deposit or wire transfer. Wire transfer is generally faster than direct deposit, but the trade-off is that you have to pay a $15 fee.
You can use the funds to pay for a broad range of business-related expenses, including:
- Purchasing new inventory
- Hiring new employees
- Marketing
- Office supplies
Bluevine offers two repayment plans: a 26-week installment plan and a 12-month plan. You only need a 625 FICO score to qualify for the 26-week installment plan, while the 12-month repayment plan requires you to have at least a 700 FICO score.
The company automatically deducts payments from your bank account to repay the credit line balance. As you repay the line, it replenishes your available credit, and you can make additional draws as needed.
You can also make additional payments if you want to pay off the credit line balance early—there is no prepayment fee.
How does Bluevine’s business line of credit compare to others?
Bluevine isn’t the only small business line of credit lender in the industry. OnDeck and Fundbox are two examples of other lenders offering similar products.
While Bluevine offers a higher maximum withdrawal amount than you’ll find with other other lenders, it also requires a longer time in business and a higher annual revenue.
The following table shows key differences between Bluevine’s line of credit compared to its competitors.
| Bluevine | OnDeck | Fundbox | |
| Loan amounts | $6,000 – $250,000 | $6,000 – $100,000 | Up to $150,000 |
| APR* | 6.2% for weekly repayment | 56.2% average | Starts at 4.66% |
| Repayment terms | 26 weeks or 12 months | 12, 18, or 24 months | 12 – 24 weeks |
| Credit score | 625 | 625 | 600 |
| Time in business | 2 years | 1 year | 6 months |
| Annual revenue | $480,000 | $100,000 | $100,000 |
For more about Bluevine and its competitors, check out the best small business loans.
Is Bluevine a reputable lender?
Reading a lender’s customer service reviews can provide insight into previous borrowers’ experiences. Plus, it can help you assess whether the company is legitimate.
Here’s a table that provides Bluevine customer service ratings from two popular review websites:
| Source | Customer rating | Number of reviews |
| Trustpilot | 4.3 out of 5 | 7,711 |
| Better Business Bureau (BBB) | 1.17 out of 5 | 193 |
Many customers praise Bluevine’s customer service team for responding quickly to customer questions and commented that the application process was fast and easy.
Meanwhile, negative reviewers tend to mention having poor customer service experiences, including long response times. Some reviewers also mention a lack of transparency regarding how interest is calculated on the company’s lines of credit.
The company has responded to most complaints on both review websites. In addition, it has an A+ rating from the BBB, which reflects Bluevine can be trusted and works to resolve customer complains swiftly and effectively.
Does Bluevine have a customer service team?
Bluevine has a customer support team that can answer questions you have regarding business lines of credit or its credit cards. You can contact this department by phone or email Monday through Friday from 8 a.m. to 8 p.m. Eastern time.
- Email: Form on the company’s Contact Us page
- Phone number: 1-888-216-9619
We also found that the company will answer questions about its products if you message it on X, formerly Twitter.
How to apply for a Bluevine small business loan
You can complete the application online and have a decision within minutes, according to Bluevine’s website. If you think Bluevine is a good fit for you, follow these steps to apply.
- Visit Bluevine’s website: Go to Bluevine’s website and click on the “Business Loans” tab at the top of the page and then “Lines of credit.” Afterward, click on the “Start application” icon at the bottom left corner or top right corner of the page.
- Complete application: Fill out the application by providing information, such as your annual revenue, business name, business address, and taxpayer identification number or employer identification number. You’ll also need to provide personal information, such as your Social Security number, percent of the business you own, date of birth, and phone number.
- Connect your business bank account: Afterward, Bluevine will ask you to connect your bank account so it can review your income.
- Draw from your line of credit: Once approved, you can request to draw funds from your Bluevine dashboard.
What if I’m denied a small business loan from Bluevine?
If Bluevine denies your loan, there are actions you can take that might increase your chances of approval next time. After the lender denies you, it’ll send you a notice explaining why, according to a Bluevine representative we spoke with.
Some steps you can take include improving your credit score or increasing your business income before reapplying, which you can do after six months. You can also apply with another lender that offers small business loans or has less stringent eligibility criteria.
Bluevine FAQ
What kind of small business loans does Bluevine offer?
Bluevine offers a business line of credit up to $250,000. The flexibility of a revolving line of credit means you can draw cash as needed and only pay for what you use. It takes just minutes to apply, and Bluevine says borrowers can get funds in as little as 24 hours.
Does applying with Bluevine hurt my credit?
When you apply for a business loan, Bluevine performs an initial soft credit pull, which will not damage your credit score. It can assess your creditworthiness without harming your credit score.
Remember that later in the loan application process, Bluevine might do a hard credit pull, which will have a minor impact on your credit score.
What can Bluevine small business loans be used for?
The flexibility of Bluevine’s business line of credit allows you to use the funds for varied purposes, including working capital, covering unexpected expenses, managing cash-flow gaps, or making strategic investments.
The goal should always be to use these funds in a way that helps your business grow and become more stable.
How long does it take to receive funds from Bluevine?
If approved for a Bluevine loan, you could access the funds within 24 hours, positioning Bluevine as a practical choice for small businesses needing quick access to capital. It allows firms to act fast when new opportunities arise or to promptly handle unexpected costs.