This week BlueVine announced that since partnering with the food delivery service DoorDash in late April, over 180 businesses have received funds from the Paycheck Protection Program via said partnership. 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. To meet the minimum requirements for our Line of Credit, your business must have been in operation for at least three years, be a corporation, LLC , have a personal credit score of 650 or more, and your business must generate at least $30,000 each month in revenue. BlueVine financing is not unsecured. 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.23. These include (but not limited to): IT Services & Technology, Business & Professional Services, Wholesale Trade & Distribution, Manufacturing, and Staffing Services. No interest earned on balances over $100,000. Certain financing may be made or arranged pursuant to California Financing Law-License No. For payments by credit card, there is a 2.9% fee of the payment amount. With BlueVine, you can receive fast, online financing against your accounts receivable. We typically respond to your application within 24 hours. Outgoing wires are $15, which is significantly lower than the industry standard. 7 talking about this. Massive shoutout to our partner for expanding their grant program. Neither BlueVine nor its partners are responsible for the accuracy of any content provided by author(s) or contributor(s). We do not require any minimum volume or termination fees, and you can fund as many or as few invoices as you like. These or additional documents will be required either before or during your loan forgiveness application. With BlueVine's toolkit, incorporating the benefits of financing into your platform has never been easier. Generate incremental revenue. The BlueVine portal is asking me to sign the note again. These were safeguards placed on their NEW platform portal to deter fraud. For information about the Paycheck Protection Program, please visit the SBA’s page. Yes, you will need to submit a new application and you may be required to provide additional information and documents. It probably took me no more than 10 minutes at the max to complete. Discover floor plan options, photos, amenities, and our great location in San Antonio. 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. Flint water crisis: Ex-Michigan Gov. It’s also easy to add a new vendor or payee in just a few simple steps. BlueVine partners with banks to deliver fast, simple, 100% online Invoice Factoring for small and mid-size businesses. Head over to our partnership website to learn more. You're already serving Small Businesses customers. Payments are automatically debited from your account each week or month over 6 or 12 months. BlueVine gives you an advance on the invoice amount, then on the invoice due date, your customer will simply pay the amount due to your BlueVine Account instead of sending it to your business address or account. Pay over 40,000 registered payees by credit card. But when it comes to financing options, things can get tricky. Small businesses in the Food and Accommodation industry (NAICS 72) and other eligible organizations may qualify for a PPP Second Draw if they have over 300 employees overall but don’t have more than 300 employees per location. You can learn more about coverage on the FDIC website. As you repay a draw, the principal portion (i.e. Their latest funding was raised on Sep 9, 2020 from a Debt Financing round. Proceed. When you pay with any of your existing credit cards, continue racking up points and rewards, and preserve cash. On top of its business checking account, which has many valuable features, it offers financing to business owners in the form of loans and lines of credit.This makes BlueVine great for business owners who have plans to expand and need a way to finance that expansion. For reference, Axos Bank used to have our favorite interest-bearing checking account, and it offers a maximum APY (annual percentage yield) of 0.81%. And they both realize they need to act quickly to help clients save their livelihoods. Additional fees apply. For notifications by pre-filling application fields availability to meet government-set eligibility requirements Restaurant owners. 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