Then you can look at what kinds of financing a lender offers. The same applies to things like minimum credit scores and revenue requirements. After all, if a certain online lender only funds businesses that have been around for three years, and you’ve got a one-year-old business, you’ll know to move on to a different lender. We suggest you consider a few key factors as you look at lenders:īorrower requirements may be the most obvious way to tell if a lender will work for you or not. So how do you choose the right lender and loan type for your business? That means that whether you need fast funding or just good working capital, Bluevine can help.Īs you’ll see throughout this article, you’ve got tons of business financing options. And while it has stricter revenue requirements than other lenders on this list, Bluevine has relatively lax application requirements otherwise―three months in business and a 530 personal credit score can get you invoice factoring. It offers two flexible kinds of working capital, lines of credit and invoice financing. Otherwise, your funds should show up the next day via ACH transfer.Īnd to be clear, Bluevine has more going for it than just fast funding times. Then, if you opted for the line of credit, you can pay a small wire transfer fee to get your funds in just a few more hours. You submit information about your business, and Bluevine can make a decision on your loan application near instantly or within a few hours. It all starts with an automated application process. It offers same-day funding with its line of credit and next-day funding through invoice factoring. If you need funding right away―like you can’t wait two days―Bluevine is the lender you want.
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