85%-90% upfront cash advance on invoices.Only fund what you want - you select the invoices.Invoice factoring loans are useful when a business needs to free up cash flow to handle other business-related expenses. As you make payments, your credit limit returns, making it so you can continue to borrow funds from the credit line. You must pay the fixed minimum monthly payment to stay in good standing with the lender. It works much the same way as a credit card works both offer a revolving line of credit from which you can draw funds when necessary. When a business sells its accounts receivable (invoices) to a third party (a factor), they do so at a discounted rate to free up cash flow.Ī line of credit is a working capital loan. Each loan serves different purposes.Īn invoice factoring loan is technically not a loan but rather an advance from a factoring company for future payments on outstanding invoices. Types of BlueVine Business LoansīlueVine offers two types of business loans: invoice factoring and lines of credit. You can also learn about more funding options by visiting our guides on small business loans. You can find alternatives to BlueVine by reading our list of the five best small business loans. Recommended: Read our guide on how to build business credit. You can be approved for a line of credit loan in as little as five minutes. BlueVine offers credit lines up to $250,000 with rates as low as 4.8%. With a line of credit loan, you can draw as you need and pay only for what you use. A line of credit is the best business loan for companies needing the flexibility of a revolving line of credit.You can get approved for invoice factoring in as little as 24 hours. BlueVine offers invoice factoring lines up to $5 million with rates as low as 0.25% per week. Invoice factoring is the best business loan for companies that want to turn unpaid invoices into working capital.What you want for the future of your businessīlueVine offers two different types of loans: invoice factoring and line of credit loans.Selecting the best small business loan for your company comes down to three things: In this review, we’ll cover the types of loans BlueVine offers to help you decide if BlueVine is the right lending partner for your small business. To help match your business with the right loan, we compared BlueVine’s loan offerings and matched those to the businesses that would benefit most from them. BlueVine Business Loans Overview Our Approach:
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