FAQs

The SBA Paycheck Protection Program (PPP) was specifically designed to aid eligible small businesses with forgivable loans during the Coronavirus pandemic. The latest government stimulus package committed $284.5B to PPP and allowed for second draws and simplified loan forgiveness.

No. If BlueVine was managing your loan forgiveness process, we’ve sent you additional information by email. If your loan was provided through our bank partner Celtic Bank and your loan is under $150,000, you may apply directly with the Small Business Administration. If your loan was provided through Celtic Bank and your loan is over $150,000, we’ve sent you more details about how to apply through Celtic. You may contact them at (800) 509-6191 or PPPForgiveness@CelticBank.com. 

If your loan was provided through Cross River Bank, you should have received a welcome email from Scratch, a loan servicer working with Cross River Bank to manage your loan forgiveness and repayment process.

No. The program has concluded. However, we hope to help strengthen your business through our other banking and lending services. 

BlueVine Business Checking offers no monthly, incoming wire, ATM2, or NSF fees, dedicated live support, and 1.0% interest (20x the national average4) earned on checking balances up to $100,000.1 Additionally, we offer a simple, easy-to-use dashboard and mobile app to deposit checks, view your balance, and other everyday banking activities. You can also withdraw cash using the BlueVine Business Debit Mastercard® and your deposits are FDIC-insured to at least $250,000 through Coastal Community Bank, Member FDIC.

You can sign up for a BlueVine Business Checking account in a few minutes5 with some basic information about you and your business. After you sign up, you have the option to deposit funds into your account with reliable, fast, and responsive customer service – all while earning 1.0% interest on your balance up to $100,000.

Interest is calculated as simple interest daily and credited monthly. Interest is computed on a calendar year basis. We pay interest only in whole cents. Therefore, at the end of each monthly interest payment period, any fractional amount of interest less than half of one cent will be rounded down and any fractional amount of interest equal to half of one cent or more will be rounded up to the next whole cent.

All business owners are invited to apply for a bank account. To open an account, you must be:

  • A small business owner
  • At least 18 years old
  • A U.S. citizen or a resident with a verifiable U.S. address
  • Not in the following industries: Adult Entertainment, Gambling, Weapons and Firearms, Illegal Substances, Virtual Currency

Other restrictions may apply. Full terms and restrictions may be found in the agreement at the time of application.

Yes, BlueVine Business Checking accounts are offered through Coastal Community Bank, Member FDIC. Your deposits are insured to at least $250,000. You can learn more about coverage on the FDIC website.

There are a few ways that you can send and receive money. You can easily make payments to vendors or external accounts through ACH or domestic wire transfers. Add funds into your BlueVine Business Checking account through a mobile check deposit, initiate a transfer from external accounts within the BlueVine Dashboard, or initiate a transfer within your external bank account, outside of BlueVine. At this time, BlueVine does not have the ability to accept incoming wire transfers. Outgoing wires are $15, which is significantly lower than the industry standard.

Customers also receive 200 free checks by ordering through their BlueVine dashboard, so you can write checks from your balance.

Small businesses can avoid the complicated fee structures and hidden fees often associated with traditional banks. BlueVine Business Banking offers unlimited transactions, no monthly fees, no minimum balances or deposits, no ACH payment fees, no NSF charges, nor ATM fees at 38,000 locations.

The only fees associated are with expedited debit card replacements, cash deposit fees at Green Dot® retail locations ($4.95) and outgoing wires ($15), which is significantly lower than the industry standard. You may also be charged a fee by out of network ATM owners, even if you don’t complete the transaction.

Yes, you can withdraw cash for free using the BlueVine Business Debit MasterCard® from any of our 38,000 in-network ATM branches through our partnership with the MoneyPass® network. For a list/map of ATMs, please visit MoneyPass’ network’s ATM locator.

You are also able to withdraw cash from out-of-network ATMs; if you do, there may be an ATM fee determined by the owner, even if you don’t complete the transaction.

Yes, you can deposit both cash and checks with your BlueVine Business Bank account. Mobile deposit allows you to deposit checks from the comfort of your home or office. All you need is the BlueVine mobile app (available in both the Apple App store and the Google Play store), a properly endorsed check, and a well lit area. Or deposit checks and cash at 90,000+ retail locations with our partnership with Green Dot. For a list of locations, visit https://www.attheregister.com/locations.

Funds become available between 1 to 4 business days. Please note that once the depositing process has begun you cannot cancel the deposited check.

Opening a BlueVine Business Checking account does not explicitly improve your chances of being approved for a loan. However, by opening up a BlueVine Business Checking account, small businesses will be able to build transaction and credit history with us – which will help us smoothly and efficiently evaluate these customers for loans.

BlueVine Business Banking is currently only available in the U.S. and Puerto Rico (Guam, US Virgin Islands, American Samoa).
BlueVine cannot accept or initiate international wires.

Today, business customers request longer and more flexible payment terms. As a result, you are constantly waiting to be paid by your customers while operational expenses, such as rent and payroll, need to be paid today. This gap in cash flow can limit your ability to hire more employees, buy more inventory and take on more customers. BlueVine’s invoice factoring solves your cash flow challenges by giving you money for your outstanding invoices today.

Here’s how BlueVine’s Invoice Factoring works. First, pick and choose an invoice(s) that you want to fund and submit it via the BlueVine dashboard or sync your favorite accounting software. We’ll deposit up to 90% of the invoice value upfront into your bank account in as fast as a few hours. Then, once your invoice has been paid by your customer, you’ll receive the rest of the invoice value minus our fee. Throughout the entire process, you’ll be guided by one of our dedicated and knowledgeable representatives.

To meet the minimum requirements for Invoice Factoring, your business must have been in operation for at least 3+ months, have a personal credit score of 530+ or more, and your business must generate at least $10,000 in monthly revenue. Any business whose customers are businesses or governments is eligible for Invoice Factoring. Invoice Factoring is available in all states.

See our restricted industries list

BlueVine currently accepts invoices where:

  • The service or product was completed, delivered and accepted by your customer
  • The customer is based in the US or Canada (English speaking provinces)
  • The customer is a business or government (not a consumer)
  • The invoice face value is higher than $500
  • The payment term is shorter than 13 weeks
  • The due date is at least 1 week away

We fund based on invoices, but that’s where the similarities with traditional invoice factoring end. Our solution is transparent, fast, 100% online, and there is a dedicated representative to help you every step of the way. In addition, BlueVine is very flexible, letting you pick and choose both the invoices and clients you wish to use, allowing you to maintain full control of your financing and your customer relationships as long as you are in good standing. This allows you then to take on those additional projects, take on extended net terms, and pay your vendors quicker.

BlueVine serves businesses in a wide variety of industries. These include (but not limited to): IT Services & Technology, Business & Professional Services, Wholesale Trade & Distribution, Manufacturing, and Staffing Services. Certain medical and healthcare industries may be restricted as BlueVine is not HIPPA certified.

You can request advances for as many invoices as you like and as often as you like, within your available credit facility. For example, if your credit facility size is $175,000, you can get funded on invoices worth a combined total of $175,000 at any given time. These funds can be in your account in as little as a few hours from approval and confirmation.

Yes. Our decision process is different than a bank’s. While banks typically provide credit lines to businesses based on their credit history, we take multiple factors into consideration. The biggest difference is that we’re able to review a businesses future projects and accounts receivables to help increase an overall credit offer. A great advantage of BlueVine’s invoice factoring is that you can leverage the credit-worthiness of your customers. Plus, we’re 100% online, which means you experience a faster, more convenient application process.

A business line of credit gives you the ability to access funding when you want, up to your credit limit. And unlike a traditional loan or merchant cash advance that is one-time, BlueVine’s Flex Credit is “revolving credit.” This means that as you repay back your outstanding funds, your available credit replenishes, and you can draw additional funds again as you like.

To use your BlueVine line of credit, here’s how it works: Once approved for a credit line, request funds directly from your dashboard. Funds are then deposited in your bank account in as fast as hours. Payments are automatically debited from your account each week or month over 6 or 12 months. As you pay off your balance, your available credit line is automatically replenished. Plus, because your repayments are calculated with simple interest, you can save on interest when you pay early. BlueVine doesn’t charge prepayment, or early repayment, fees.

To meet the minimum requirements for our Line of Credit, your business must have been in operation for at least six months, be a corporation or LLC, have a personal credit score of 600+ or more, and your business must generate at least $10,000 each month in revenue.

Due to regulations, we also cannot provide lines of credit to the following states:

  • Nevada
  • North Dakota
  • South Dakota
  • Vermont

If you don’t meet our Line of Credit requirements, you may be eligible for Invoice Factoring, which allows you to get a cash advance based on your outstanding invoices.

See our restricted industries list

Weekly repayments are automatically debited from your bank account. As long as you have sufficient money in your bank account, you never have to worry about missing a payment.

As quickly as a few hours once approved. With BlueVine you can choose between ACH electronic transfers or bank wire transfers. ACH transfers are free and the funds usually appear the next business day (but may take up to three). A bank wire costs $15 per wire and funds are typically available in your bank account the same day.

Payment fromPayment TypeProcessing TimesInformation Needed
Checking AccountWire*1 business dayPayee (or vendor) address and bank account details
Checking AccountACH1-3 business daysPayee (or vendor) address and bank account details
Credit Card or Checking AccountePayment1-3 business daysPayee (or vendor) in database, payee zip code, and your account number with payee
Checking AccountCheck5-7 business daysPayee (or vendor) address

All payments initiated after 6 pm PST will be processed the following day. 

*The cost for each outgoing wire is $15

Make one-time or recurring payments today, or a day in the future. Visit this support article for details on how to set up recurring or scheduled payments:

https://support.bluevine.com/hc/en-us/articles/360047313871-Payments-Overview#h_01EEWWQAKKW8G0P2Z7DBN0C0RP

Pay any vendor by your bank account. Or, pay over 40,000 registered payees by credit card (2.9% transaction fee) or debit card.

Pay any of your vendors or bills through your bank account. You can schedule a payment to be sent at any time to any US business or bank account. To make sending payments easy, if the payee is one of 40,000 companies in our directory (referred to as a “registered payee”), all you need is their zip code to send an ePayment (similar to an ACH). Otherwise, you can simply enter the payee’s address to send a check. All registered payees may also be paid by credit card.

For payments by credit card, there is a 2.9% fee of the payment amount. For outgoing wires, there is a $15 per payment fee.

BlueVine Payments is paired with BlueVine Business Checking. Seamlessly access both Payments and Business Checking from your BlueVine Dashboard. Use Payments to easily pay bills, vendors, or suppliers. Deposit funds into Business Checking to earn 1.0% interest on your balance, or use your BlueVine Business Debit Card anywhere Mastercard is accepted for your business expenses.2

Have more questions?

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Applying will not affect your credit score1