LendingAs you establish your Line of Credit history with Bluevine, you may be eligible for a credit line increase. Our underwriting team will proactively review your overall business profile, which includes recent monthly bank statements, payment history, personal credit and other factors to determine eligibility for an increase in the limit for the line of credit.
If you would like to request a credit line increase, ensure that your bank data is up-to-date, by connecting your bank or by uploading the most recent three full months of bank data, and contact customer support. Here you can find more about connecting your bank account.
If the request is for a credit line over $200,000, the following additional documentation will also be needed:
- Most recent business tax returns
- Balance sheet within the last 45 days
- Business debt schedule (see example below)
- 2021 Profit & Loss statement
Please note additional documentation may be required no matter the size of the credit line increase request.
Example Business Debt Schedule
A credit line increase can be requested after six on-time successful payments are made if you are making weekly payments. Those making monthly payments would be eligible to be reviewed after every two on-time successful payments. Accounts must be in good standing to be eligible for additional lending.
Note: Payments must be consecutive, on-time payments per the repayment schedule. Making early payments or payments above the scheduled amount would not expedite your eligibility for a credit line increase. All credit line increase requests are subject to underwriting review.
You will receive an account update with the decision via email once the review has been completed.