I contacted banker a week later and he said our package had gone to SBA and was a good sign but no word from them except their constant messages that say “we are working on it.” April 23 I noticed that American Express was doing PPP loans when I logged in. In fact, it's paused its other lending programs to focus on processing PPP applications. Qualified applications will be submitted to the SBA as soon as possible. We have paused online applications for invoice factoring, as well as new business line of credit applications, to focus on securing PPP funds for small businesses. No interest earned on balances over $100,000. BlueVine pre-populates this information for you. Weekly repayments are automatically debited from your bank account. The new stimulus bill that was signed into law at the end of 2020 provides the PPP with $284 billion in funding. They may not use the one-year period before their loan is made, Seasonal borrowers may use any 12-week period between February 15, 2019 and February 15, 2020, Basic information about you and your business, Details of full-time employees and associated payroll costs, Details of all owners with greater than 20% ownership stakes, Proof of mortgage interest payments, rent payments, and utility bills, Small business owners without employees: apply with a social security number, Small business owners with employees: apply with an EIN or Tax ID, Housing cooperatives with no more than 300 employees, “Destination marketing organizations” that generally don’t engage in lobbying and have fewer than 300 employees, Have used your entire First Draw PPP loan on, Demonstrate a 25% or greater reduction in revenue over a certain period, Businesses that receive grants under the SBA’s new Shuttered Venue program, Companies traded on a public stock exchange, The President of the U.S., Vice President of the U.S., heads of government executive departments, members of Congress, and their spouses, No interest earned on balances over $100,000. BlueVine is also FDIC insured and A-rated with the Better Business Bureau and 100% secure. Our team is available to walk you through the process and help you obtain the funds you need. PPP loans are made by one or more approved U.S. Small Business Administration (“SBA”) lenders. Company’s address is 401 Warren Street, Redwood City, CA, 94063. PPP loans are made by one or more approved U.S. Small Business Administration ("SBA") lenders. The BlueVine Business Debit Mastercard is issued by The Bancorp Bank pursuant to a license from Mastercard International Incorporated and may be used everywhere Mastercard is accepted. We appreciate you taking the time to share this review with us, and apologize that your experience didn't meet your expectations. In order to process applications from NON ACCOUNT holders, specific fields must be filled out on the application with BlueVine such as Social Security Numbers and Bank Account details. You can learn more about coverage on the FDIC website. BlueVine's Flex Line of Credit is issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. 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. Applicable Reference Period for Calculating Payroll. In 2020, we helped over 155,000 small businesses apply quickly for PPP funds. If you’re experiencing an urgent issue, you can call us during weekdays. An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. The PPP loan you received in 2020 is considered your first draw PPP loan. Highly Recommend! E-mail Address. Payments are automatically debited from your account each week or month over 6 or 12 months. Website is easy to navigate and understand. You can easily make payments to vendors or external accounts through ACH or domestic wire transfers. They jacked the interest rate up from approx. BlueVine and other fintech participants in the PPP, including Kabbage, Square and PayPal, tried to reach some of the smallest businesses that were hardest hit by the economic problems brought about by the pandemic. BlueVine is not currently accepting loan forgiveness applications. Paycheck Protection Program loans may be forgiven in full depending on use of funds and eligibility. Once you’re approved for a BlueVine LOC, you can use your online dashboard to draw from your line at any time. Apply online and get approved in as fast as 5 minutes. When you run a business like ours, you need the extra cash for back up. If not, try another PPP lender. To use your BlueVine line of credit, here’s how it works: Once approved for a credit line, access funds by drawing directly from your dashboard. Rates and terms may vary based on your creditworthiness and are subject to change. Advance. © 2021 BlueVine Inc. All Rights Reserved. BlueVine Business Checking; Flex Line of Credit ; Invoice Factoring; Term Loans ; General Founder and CEO Eyal Lifshitz told the Wall Street Journal that he was inspired in 2013 after witnessing his father, a physical therapist, struggle with cash flow problems when his customers had a 90-day billing cycle. If you’re experiencing a non-urgent issue, send us a detailed explanation. Qualified applications will be submitted to the SBA as soon as possible. See insights on BlueVine including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Please enable it to continue. There are a few ways that you can send and receive money. © 2021 BlueVine Inc. All Rights Reserved. Without explanation, and without warning, BlueVine rejected the request and sent over an "offer" to "refinance" the line of credit on completely different terms. On any additional draws, you can draw anywhere between $500 and an amount less than or equal to your available credit. BlueVine is the technology being used to tie First Union Lending’s clients into the SBA. Not stopping at offering basic services, BlueVine also strives to make the Paycheck Protection Program more easily accessible to ensure a greater number of small businesses can benefit from it. BlueVine pre-populates this information for you in the field Industry. Add funds into your BlueVine Business Checking account through a mobile check deposit or initiate a transfer within your external bank account, outside of BlueVine. The person I worked with was ver... My experience with BlueVine has been excellent. The PPP has been extended through May 31, 2021, however SBA funds are limited. Go to website Do not log in At bottom of page select contact us fill in the information In message field put: Account reinitiation due to identity decline. You can find this number on the loan offer you received. BlueVine provides fast financing solutions for small businesses in need of working capital. You may be charged out-of-network ATM fees, even if you don’t complete the transaction. If you cannot find your loan offer, reach out to your previous lender. BlueVine currently accepts invoices where: The SBA Paycheck Protection Program (PPP) is specifically designed to aid eligible small businesses with forgivable loans during the Coronavirus pandemic. 1 Additionally, we offer a simple, easy-to-use dashboard and mobile app to deposit checks, view your balance, and other everyday banking activities. On December 27, a new bill was signed into law with a second stimulus package. BlueVine is an online lending service dedicated to helping small business owners conquer their borrowing struggles. Kabbage provides financing in the form of revolving lines of credit.BlueVine also offers lines of credit, in addition to term loans and invoice factoring for small business owners. Company profile page for Bluevine Capital Inc including stock price, company news, press releases, executives, board members, and contact information “It’s impossible for us to know if fintechs were proportionally hit harder with PPP fraud than banks,” Lustig said. As long as you have sufficient money in your bank account, you never have to worry about missing a payment. BlueVine’s Flex Line of Credit and Term Loan is issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. The loan may be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities during the covered period following the funding of the loan. For Disaster loan questions, call 1-800-659-2955 or email disastercustomerservice@sba.gov Contact the bank you normally use for your business lending or where you have a business account. Small businesses can avoid the complicated fee structures and hidden fees often associated with traditional banks. This company has the best customer service. click to access bluevine ppp What You Need to Know about Supporting Documents Sole proprietors, independent contractors, self-employed individuals, other 1099 applicants: If you’re not clear, talk to a representative where you’re applying to see if you’re eligible. But as businesses used up all of their PPP funds, it became clear a new PPP loan was needed. PPP borrowers are eligible for up to 2.5x monthly payroll costs for their initial PPP loan, as well as any second draw. The $900 billion COVID-19 aid bill includes a $284.5 billion allocation for First and Second Draw PPP loans. The latest government stimulus package commits $284.5B to PPP and allows for second draws and simplified loan forgiveness. BlueVine Business Checking offers no monthly, incoming 2 wire, ATM , or NSF fees, dedicated live support, and 1.0% interest (20x the national average 4) earned on checking balances up to $100,000. I applied for a second draw PPP with Bluevine since my first lender isn't participating this round so I'm already screwed by them. Certain financing may be made or arranged pursuant to California Financing Law-License No. Our advisors have attempted to contact you to resolve the issue. 6054789. Per the announcement from President Biden on Feb 22, 2021, during the period of Feb 24, 2021 to Mar 9, 2021, the SBA will only accept PPP loan applications for review from businesses with fewer than 20 employees. Then, once your invoice has been paid by your customer, you’ll receive the rest of the invoice value minus a fee. It offered fully forgivable loans to help businesses weather the pandemic. Lendio : If you have questions about your PPP application, you can contact a Lendio rep through a toll-free number Monday through Friday. BlueVine does not guarantee that applications will be processed and submitted before PPP funds are no longer available. The company founded in 2013. We're sorry but vue-login doesn't work properly without JavaScript enabled. Helpful staff on all my calls and questions. Compared to several companies I have worked with providing business loans, this company... Super straight forward process, no sales calls, very clear directions and they outperfo... 1.0% interest on your balance up to $100,000, Get up to 2.5x payroll costs (3.5x for food services), Check your dashboard any time for updates. BlueVine has 373 employees across 3 locations and $287.50 m in total funding,. BlueVine is supporting both First Draw and Second Draw applications. 30% to 55% (yes), changed the payment frequency from monthly to weekly, and made the entire interest payment due and payable upon early prepayment. Applications are subject to credit approval. Unless specified, you should submit documents covering the payroll period you want to use in your loan application: Additional documentation may be required of all applicants: If you’re a First Draw PPP applicant, eligibility terms are similar to the initial program launched in 2020. Many small businesses trust BlueVine because we have experience—we helped over 155,000 small businesses access critical funds in 2020, and we’re ready to help again. Flexible funding, payments, and checking built for business. Per the announcement from President Biden on Feb 22, 2021, during the period of Feb 24, 2021 to Mar 9, 2021, the SBA will only accept PPP loan applications for review from businesses with fewer than 20 employees. BlueVine pre-populates this information for you. The new round of PPP loans offer a “second draw” for harder-hit businesses that received PPP funding in 2020. Business Phone. As you pay off your balance, your available credit line is automatically replenished. Save your confirmation number. We applied through them and the number on the application was 9000 something. The repayment time is six months and twelve months for the borrower. BlueVine® is a registered trademark of BlueVine Inc. Get 1.0% interest on your balance up to $100,0001, Join the 155K+ small businesses we’ve helped secure funding. C. First Draw PPP Loan or Second Draw PPP Loan. Mastercard is a registered. I submitted it and waiting for the response The rep says it will be 5-7 business days and I will have to reapply....YES REAPPLY! BlueVine Business Checking offers no monthly, incoming2 wire, ATM , 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. Outgoing wires are $15, which is significantly lower than the industry standard. Use your available credit line when you want, for any business need. The $900 billion COVID-19 aid bill includes a $284.5 billion allocation for First and Second Draw PPP loans. Most lenders will have … No problems or surprises with the application process. Documents should be read-only. If you're still interested in assistance, please reach out to us directly at (888) 216-9619 or banking.support@bluevine.com. BlueVine was very easy to work with. Unlimited transactions, no minimum balance required, 1.0% interest on your balance up to $100,0001, Pay vendors and bills by ACH, wire, or check. BlueVine has been a great partner to us and I personally cannot be more grateful. Banking Services provided by The Bancorp Bank. BlueVine is one of the companies providing that kind of life-changing service for businesses. BlueVine® is a registered trademark of BlueVine Inc. Get 1.0% interest on your balance up to $100,0001, Join the 155K+ small businesses we’ve helped secure funding, tax forms, quarterly financial statements, or bank statements, 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 (not a consumer), The invoice face value is higher than $500, The payment term is shorter than 13 weeks, Small business applicants generally may use the calendar year 2019, the calendar year 2020, or the one-year period before their loan is made as their preferred payroll period, Self-employed individuals, sole proprietors, and independent contractors may use the calendar year 2019 or 2020. In early 2016 BlueVine secured $40 million in venture capital and has been growing since. U.S. small businesses in operation as of February 15, 2020, with fewer than 500 employees, including these now-eligible business types, can apply: If you’re a Second Draw PPP applicant, you must meet the following additional criteria and note that additional conditions may apply: The following businesses are no longer eligible for a PPP loan: Please refer to the SBA’s PPP webpage for complete information on eligibility criteria. Loan agreements will identify the issuing lender to small businesses at signing. The … The SBA has recently released new guidance, and we’re working to translate this guidance into a more efficient and simpler forgiveness application for those that apply. Mitch from Client Success, Desirae from Client Care, Kanishka from Portfolio Management, BlueVine deposits are FDIC insured through The Bancorp Bank; Member FDIC. The cost to receive an incoming wire is free. Funds are then deposited in your bank account in as fast as hours. BlueVine makes business funding quick and painless. Approval and loan forgiveness are subject to your availability to meet government-set eligibility requirements. Approval and loan forgiveness are subject to your availability to meet government-set eligibility requirements. 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. If you’re applying for PPP with multiple businesses or franchises, know that you may not qualify. I get an email after not hearing a peep from Bluevine since I submitted my application three weeks ago and it's an application denial. Certain financing may be made or arranged pursuant to California Financing Law-License No. BlueVine pre-populates this information for you. 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. Loan agreements will identify the issuing lender to small businesses at signing. Small businesses that previously received a PPP loan may be eligible for a Second Draw. Specifications of Ppp loan provided by the company: I’m so over it! PPP First Draw SBA Loan Number. ATLANTA--(BUSINESS WIRE)--Apr. BlueVine deposits are FDIC insured through The Bancorp Bank; Member FDIC. As with the first funding round, BlueVine will be assisting with PPP loans and working diligently with businesses to submit paperwork to the SBA and secure funds. I tried our bank and went through all the trouble just to be told we had to wait. As an approved PPP lender , it helps empower American businesses and support them through the recession. You can also withdraw cash using the BlueVine Business Debit Mastercard® and your deposits are FDIC-insured to at least $250,000 through the Bancorp Bank. BlueVine has delivered over $6 million in PPP loans to DoorDash restaurants, such as the $125,000 loan granted within 24 hours to Jazmine Lalicker, owner of the Petaluma, California oyster bar and seafood restaurant called The Shuckery. FLEETCOR has engaged with BlueVine, a … BlueVine and Kabbage are both alternative online lenders that can provide flexible small business loans in a relatively short amount of time. Funds are limited, so act quickly. Yes, the new Paycheck Protection Program round includes loan forgiveness changes, including a simplified forgiveness process for borrowers with loans under $150,000 and expanded forgivable expenses. When the 2020 federal government in the United States came up with CARES Act, under which $953 billion business loan is to be distributed under the PPP plan, Bluevine started disbursing PPP loans. Funds are limited, so act quickly. Lendio also has a dedicated PPP section on its website that also includes FAQs about applying for a loan, funding turnaround times, and applying for loan forgiveness. BlueVine, a Redwood City-based fintech that offers banking services for small and medium-sized businesses (SMBs), announced a series of product and company updates at a virtual event on Tuesday.The event touched on the pandemic’s effect on small businesses and their banking providers, including new opportunities for fintechs like BlueVine. BlueVine will be accepting applications for First and Second Draw Paycheck Protection Program (PPP) loans until this round of funding ends on May 31, 2021. BlueVine pre-populates this information for you. PPP Loans with BlueVineApply for First orSecond Draw. We’ll deposit up to 90% of the invoice value upfront into your bank account in as fast as a few hours. Applications are subject to credit approval. Card Replacement Fees and Wire Transfer Fees may apply. We’re helping as many small businesses as possible apply for PPP, including Second Draw applicants that didn’t have their First Draw with us. With flexible loan amounts up to $250,000 and simple invoice factoring options, the company is a viable alternative to traditional lenders. On your first draw, you can draw anywhere between $5,000 and an amount less than or equal to your available credit. Zip code: 11372-6303, Address: 77-02 35th Ave, Jackson Heights, NY. 28, 2020-- FLEETCOR Technologies, Inc. (NYSE: FLT), a global leader in business payments, is helping businesses apply for government relief funding through the Small Business Administration’s (SBA) Paycheck Protection Program. Generally, for small businesses to qualify for a Second Draw PPP loan, they must have been in operation on February 15, 2020, and: Additional conditions may apply, and various documentation is needed. In addition, you can contact any of the SBA PPP approved lenders found online at www.sba.gov or in the previous section. You may also be charged a fee by out of network ATM owners, even if you don’t complete the transaction. We anticipate that funds will run out prior to the 5/31 deadline, and encourage small businesses to apply as soon as possible. Your first draw has to be at least $5,000, but after that you can draw as little as $500. How to Know if Your Application for a PPP Loan Has Been Denied Loan amounts up to at least $ 250,000 through the Bancorp Bank, a Utah-chartered Industrial Bank, Member.. Initial PPP loan or Second draw PPP loans are made by one or more approved U.S. small business Administration ``... Filling out an application on bluevine including office locations, competitors, revenue, financials, executives subsidiaries. More about coverage on the loan offer, reach out to us directly (... 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