Business Loans Make the most of your Bluevine line of credit
Follow the tips in this guide to help keep your credit line
active and make the most of your funds.
Applying for a Bluevine Line of Credit is quick and easy—and upon approval, you can receive your funds in as fast as 24 hours.BVSUP-00009 Here's how to make the most of your line of credit and keep your account in good standing.
Table of contents
Maintain your financial standing
Why is this important?
Your financial standing includes your FICO score, which allows us to confirm your business’ eligibility for our Line of Credit.
What you can do
Many factors impact your credit rating, and it can fluctuate over time. To maintain a good score, make on-time payments, keep a low outstanding balance compared to your total credit, and build your credit history. Also, let us know if anything happens that could impact your account.
Connect your business bank account
Why is this important?
Connecting a business bank account and maintaining a stable balance helps keep your Bluevine account in good standing. This helps us make sure you still qualify when you want to make a draw in the future.
What you can do
Connect your business bank account to your Bluevine line of credit to save time uploading bank statements manually. If you close or change bank accounts, you’ll be able to connect a new one.
Make timely payments
Why is this important?
If you miss a payment, your line of credit will be put on hold until a catch-up payment is made.
What you can do
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 into the future.
Talk to us before you apply for a loan elsewhere
Why is this important?
Taking on additional debt can affect your ability to make repayments and can negatively impact your Bluevine Line of Credit, leading to your account being put on hold.
What you can do
Contact us before applying for another loan elsewhere. We can discuss options and help you understand how additional debt could impact your Bluevine Line of Credit. Together, we can work out the best path forward for your business.
How do I increase my credit limits?
If you repay your outstanding draws on time, avoid missed payments on your personal credit profile, and maintain consistent financial activity and deposits in your linked bank account, your credit limits may proactively increase. You may also request a review for a credit line increase by contacting us.
Conclusion We’ll help you resolve any account issues
Following these guidelines will help you maximize your credit line. If you do find your account has been put on hold, we will be sure to provide information and support to help you get your business back on track. As always, you can reach out to customer support with any questions.
Learn more about line of credit
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Review or add bank connection
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