We use bank connections both to make faster decisions about your line of credit application and to review your account for ongoing eligibility and increases. Without a bank connection, you’ll need to manually upload monthly statements for us to review.
What happens if my external bank account gets disconnected?
If your external bank account gets disconnected, we’ll notify you via email and on your Bluevine dashboard. There are multiple reasons your account might get disconnected, but none of them affect the pending debits and credits on your account.
For more information, see our bank connection guide.
If you miss a repayment, your line of credit will be put on hold until you make a catch-up payment. Before you draw funds, we’ll let you know what your repayment amount will be so you can plan your budget and make sure you can repay your line. Review your account regularly to make sure you’re on top of your repayments.
For what to do if you miss a repayment, see this support article.
Taking out more than one loan at a time is called loan stacking, and it can be a risky, unsustainable method for accumulating funds. Acquiring additional debt can affect your ability to make repayments and might lead to your Bluevine Line of Credit being put on hold.
Before applying for another loan elsewhere, contact us to discuss your options. For example, if you need to increase your credit line, you can ask for a review to see if you qualify. Together, we can work out the best path forward for your business.
There are a number of reasons your credit line might be put on hold. For next steps, please contact our support team.
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