Exploring Bluevine Business Lines of Credit: A Guide for Entrepreneurs
You know the broad route you want to take, but you also know that there will be roadblocks, speed traps, and money concerns. And if your car is on E and you need The post Exploring Bluevine Business Lines of Credit: A Guide for Entrepreneurs appeared first on Entrepreneurship Life.
Starting a new company is akin to starting off on a cross-country car trip.
You know the broad route you want to take, but you also know that there will be roadblocks, speed traps, and money concerns. And if your car is on E and you need to pull over for a few minutes, enter Bluevine business lines of credit as a rest stop/de facto cash pump — supplying you with the quick and affordable cash flow you need in order to get back on track and head toward your ultimate destination!
What is a Business Line of Credit?
A business line of credit is a product offering that allows you to draw “a line of credit” on a business card. Basically, when you are approved, you will receive a credit limit and be able to access however little or much you’d like (up to your max) on the product. As you draw, you are charged interest. You can draw and repay on the product until the day you die or close your account. The card is like a credit card that you can only access by drawing cash, which it’s so helpful for line-of-credit payments.
The Application Process: Fast, Easy, and Convenient
The Bluevine line of credit application is made to be easy, fast, and painless. The application itself is a very straightforward web form with questions about your company, like annual revenue and how many years you’ve been around.
Once you apply, Bluevine will evaluate your application, and you’ll generally get an answer within minutes or by the end of the day. If you’re approved, you can usually access your line of credit very quickly, so you can get your hands on the cash you need fast. By bypassing the slow process often associated with bank loans, you can get back to running your business and less time on busy work.
Key Benefits of Bluevine Business Lines of Credit
A Blue Vine business line of credit is a little different. Here’s what makes it good:
Fast Cash When You Need It: Their application is online, and you can get funding in a few hours. Time matters when you need to cover an unexpected expense or jump on an opportunity.
Low Rates: Their business line of credit rates are one floor below the competition. This means it’s cheaper for business owners to borrow.
Fair Terms: Blue Vine is a fair direct lender. If you’re looking for working capital, you’ll never be nickeled and dimed with a servicing fee. There’s no annual fee. It’s just easy. All small business loans should work like this.
How to Apply for Bluevine’s Business Line of Credit
Bluevine’s business line of credit is a solid choice for small business owners and freelance workers who want a more flexible way to access working capital. Whether you need help covering the occasional gaps in cash flow, financing long-term investments, or just want some extra cash tucked away to cover your back in case of an emergency, BlueVine makes it easier for you to take greater control of your business.
Of those, the right choice is the one that best suits your borrowing needs. If you have one large funding bill to pay or you have a one-time project to finance, a business loan solution may be the better option. But if you want a designated way to borrow funds on an ongoing basis, that doesn’t mean having to make a one-time payment to gain financing, a Bluevine business line of credit is the way to go.
The post Exploring Bluevine Business Lines of Credit: A Guide for Entrepreneurs appeared first on Entrepreneurship Life.
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