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CST: 19/05/2019 12:01:47   

BlueVine Adds Term Loan to Suite of Online Working Capital Solutions to Fuel Small Business Growth

41 Days ago

New Term Loan product provides lump sum financing to help business owners grow and invest in their business

REDWOOD CITY, Calif., April 08, 2019 (GLOBE NEWSWIRE) -- LENDIT FINTECH USA -- BlueVine, which provides small- and medium-sized businesses with access to fast and simple online financing, announced that it is making term loan financing available for business owners through its suite of online financing solutions. The BlueVine Term Loan provides small- and medium-sized business owners with fast and simple access to financing to grow their businesses through BlueVine’s advanced online platform. More than 59 percent of businesses are looking for funds to grow their business, according to the 2017 Federal Reserve Small Business Credit Survey Report on Employer Firms. With a BlueVine Term Loan, business owners can quickly pursue larger projects and investments to bring their businesses to new heights.

“With a BlueVine Term Loan, small businesses can get quick and easy access to the financing they need to grow their business and take advantage of investment opportunities,” said Eyal Lifshitz, CEO and co-founder of BlueVine. “It’s a perfect addition to our growing suite of accessible financing products that are meticulously designed to meet all of the diverse financing needs of small businesses – whether it’s flexible funds for everyday expenses or a lump sum amount for expansion. The release of BlueVine’s third financing product is an important milestone as we continue on our mission to revolutionize small business financial services.”

Fast and Simple Term Loan Financing With No Origination Fees
BlueVine provides business owners with access to term loans from $5,000 to $250,000, without charging origination fees. It offers one simple, fixed weekly rate over a six- or 12-month term. All lines of credit and term loan financing products are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC.

Business owners are often busy individuals and want access to quick and easy financing. While many business owners turn to banks to access financing, an approval can be difficult to qualify for, and the application process for a traditional bank term loan can take up to weeks and even months and require mounds of documents.

With BlueVine’s easy-to-use online dashboard, business owners can apply for a Term Loan online in minutes with just some basic information about the business owner and the business, and they can get approved in as fast as 10 minutes. Once the business owner accepts the offer, the funds are deposited directly into their bank account in as fast as a few hours.

Nearly $2 Billion & Counting: A Successful Financing Platform Uniquely Designed for Diverse Small Business Needs
The BlueVine Term Loan joins two highly successful working capital financing options on the BlueVine platform: BlueVine Invoice Factoring, which allows business owners to get advances on unpaid invoices; and BlueVine Flex Credit, a line of credit which gives small businesses flexible access to capital, on demand. Founded in 2013, BlueVine has provided thousands of businesses across the United States with access to nearly $2 billion in financing and counting.

With the addition of Term Loan, small businesses have access to a full suite of financing products from BlueVine to meet virtually all customer needs at any time during their business lifecycle -- from funding everyday operational expenses to critical long-term investments for growth.

“Last year, our senior care business experienced tremendous growth, and we needed funds to hire more employees to keep up,” said BlueVine client Uche Ohale, agency manager of UC Cares, a health care services provider in Bolingbrook, Illinois. “We were able to get a loan through BlueVine, which allowed us to employ over 25 nurses and take our business to the next level.”

To learn more about securing a BlueVine Term Loan, visit www.bluevine.com/term-loan/.

Attending the LendIt Fintech Conference? Stop by the “Building a National Brand for Small Business Lending” panel on Monday, April 8 from 11:15 - 11:55 AM PT to hear our CEO Eyal Lifshitz speak about building the BlueVine brand.

About BlueVine
BlueVine provides small- and medium-sized businesses with fast and simple access to online financing. BlueVine’s advanced online platform is intuitive and offers a fast and convenient solution for a business’ working capital needs. BlueVine offers a suite of products designed to meet the diverse financial needs of today’s business owners. With revolving Line of Credit, business owners can access flexible funds on demand; with Term Loan, business owners can get a lump sum amount to grow their business. With Invoice Factoring, business owners can unlock funds online, from their unpaid invoices. Based in Redwood City, California, BlueVine has provided small- and medium-sized businesses with access to nearly $2 billion in financing and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, SVB Capital, Rakuten, Nationwide Insurance, and M12 (Microsoft’s Venture Arm). All lines of credit and term loan products are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC.

For more information, please visit www.bluevine.com.

Media Contacts:
Ben Pimentel
BlueVine PR
510-731-8429
Ben.pimentel (at) bluevine.com

Ali Mapplethorpe
Highwire PR
415-675-1457
bluevine (at) highwirepr.com

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