You’ll typically repay your draws via automatic debits from your primary bank account, either weekly or monthly, depending on your repayment plan. You may also repay your draws early, in full or in part, as long as the funds have been in your account for at least 48 hours.
With a Bluevine Line of Credit, we’ll only charge you for the funds you use, with no penalties for prepayments on your loan. Partially paying off a draw early reduces both the fees and the next regularly scheduled payment(s) amount. Paying off a draw in full stops fees from accumulating on that draw. To pay off a draw in full, select the Full balance option when making a payment.
To make a payment, follow these steps:
- Sign in to your Bluevine dashboard
- Navigate to the Line of Credit tab
- Select which draw you would like to make a payment on
Select Make Payment in the upper right corner
Choose the type of payment amount you would like to make: minimum due, full balance, or another amount
A catch-up amount will be visible if you’ve missed a payment on this draw
- A catch-up amount will be visible if you’ve missed a payment on this draw
- Select Submit
Payments take three business days to clear and post to your account.
Canceling a payment
Once your payment has been submitted, it can’t be canceled.