You may make draws of any amount and at any time up to your Flex Credit limit availability as long as your account is active.
In general, keep your account active by:
- Ensuring BlueVine has an active bank connection, or that you have uploaded your last three bank statements to your BlueVine Dashboard.
- Making every repayment on time and ensuring a constant positive balance in your bank account.
- Notifying us if you take on additional debt or if there are any changes to your business operations.
Your ability to draw from your credit line and your total credit line amount could be affected if:
- You have taken on additional debt with other lenders
- Your income has substantially decreased
- Significant personal credit report deterioration (Example: FICO drop from over 600 to under 600)
- Significant business credit report deterioration (Example: recent months showing over 50% of repayments to lenders or vendors being over 30 days late)
- There has been a change to your business operations (e.g. bankruptcy or closure)
- There have been material changes in your business
- You have had multiple overdraft fees or instances of insufficient funds in the last 30 days
- You have failed to make repayments on existing BlueVine obligations
- Your business entity’s status in your incorporating state has lapsed
- Your business has been subject of an IRS tax lien or levy
- You maxed out your credit line frequently.
- Your credit line is over-revolving (face value of draws are higher than approved credit line amount).
Your bank data is out of date, which means either:
- Your bank connection has failed
- Your last uploaded statement is more than 30 days old
- You have not made a draw within 14 days of our initial financing offer to you. (Our offers are only good for 14 days).