Still thinking BlueVine sounds like a good deal? Well, lots of customers agree with you. BlueVine has pretty positive reviews across the web.
BlueVine has a 4.6 out of 5 on Trustpilot.1 It also has more than four stars (out of five) from reviewers on its Better Business Bureau page―a pretty impressive feat, honestly.2
Most BlueVine reviews praise its helpful customer service. Many borrowers rave about their account managers, with many reviewers mentioning quick and clear communication. Business owners also seem to like BlueVine’s quick application and funding process, and some of them mention BlueVine’s competitive rates.
So what don’t people like? Well, some negative BlueVine reviews complain about the automated application, saying it failed to properly identify their business’s revenue or other details. We saw several complaints about unexpected freezes on credit lines (because of revenue changes, missed payments, or surprise underwriting process problems). And at least one business owner didn’t realize that BlueVine would place a lien on their business (see the FAQs below) and was upset about that.
Again, most BlueVine reviews are positive. And while there are negative reviews out there, BlueVine does seem to actively respond to them with promises to address the problem. Whether or not it makes good on those promises, we can’t say. But at least it’s making the effort.
BlueVine doesn’t require specific collateral to secure its loans, but it does require a lien on your business assets and a personal guarantee (as most lenders do).
Yes, BlueVine does report to credit bureaus. That means that paying off your BlueVine loan on time could improve your credit score (but it also means that late payments or defaulting on your loan can hurt your credit).
Either way, you're likely to see some effect on your FICO score.
Yes, BlueVine is safe. As we discussed above, you can find many positive reviews for the company. In fact, BlueVine has funded more than 20,000 businesses.3 In other words, it’s definitely not a scam. So as long as you borrow responsibly, you should be fine.