BlueVine Review - Small Business Banking
- What is BlueVine?
- How does BlueVine work?
- How much does BlueVine cost?
- BlueVine features
- Who is BlueVine best for?
- Who shouldn’t use BlueVine?
- Pros & cons
- BlueVine vs. Kabbage vs. Fundbox
- The bottom line
What is BlueVine?
How does BlueVine work?
Opening a business checking account with BlueVine
Applying for BlueVine’s Paycheck Protection Program (PPP)
How much does BlueVine cost?
Checking account fees
Business line of credit fees
Invoice factoring fees
Integration with popular accounting software
Robust business checking
Lines of credit
Who is BlueVine best for?
Small business owners
Companies that rely on invoices
Who shouldn’t use BlueVine?
Businesses that aren’t U.S.-based
Pros & cons
- Easy to get started. Setting up an account with BlueVine is fast and simple. Plus, its user interfaces within its banking platform and invoice factoring are clean and straightforward.
- Multiple services from one company. BlueVine offers funding, invoice factoring, and business checking all under one online roof. This means that you have one less vendor or platform to learn and deal with, simplifying your accounting workflow. Fast disbursement. Funds are generally available in under a business day, meaning that you can access your credit and other financing options fast. Especially in a world where small business owners must be increasingly agile, this is a major pro.
- Interest rates can get high. Depending on your credit score, you may pay a pretty penny in interest for your funding. Especially on the higher end of interest rates you may be better off seeking financing from a different funding source.
- No financing options for VT, ND, SD. If you currently own and operate your business in Vermont, North Dakota, or South Dakota, you’re out of luck when it comes to using BlueVine in your business’ workflow.
BlueVine vs. Kabbage vs. Fundbox
|Max line of credit||$250k||$250k||$100k|
|Available in all 50 states||No||Yes||Yes|
Are BlueVine accounts FDIC insured?
What qualifications must be met to use BlueVine’s invoice factoring?
Is invoice factoring similar to a loan?
The bottom line
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