Lending
Weekly Payment Plan
Payment Date
Your first weekly payment occurs one week after the draw is advanced.
Pending Payments
All ACH payments take three business days to process. The payment will not reflect on your account balance until the three days have passed. For example, if your balance on a draw is $100 and a $10 payment is processed on Monday, your balance will be $90 on Thursday.
Making Additional Payments
You can make additional payments or pay-off any draw at anytime.
Monthly Payment Plan
Flex 12 allows clients to make monthly payments over 12 months, whereas with Flex 6, clients make weekly payments over 26 weeks.
How to Change Payment Date
For Flex 12, the payment date on ALL draws are automatically set to the 5th of every month. To change your payment date, go to Profile, then Payment Settings on your Bluevine Dashboard. On this page you should see a section that says "Repay my draws on the" with a spot below to choose what date you wish to have your payments initiate.
You can change the payment date once every 3 months to any date so long as the new payment date is NOT more than 37 days from the last payment date.
*Please Note - If it’s more than 37 days, a payment will be processed the day you make the change.
Example: Let’s say your last payment was on September 5th. Your next payment would normally be on October 5th. However, on October 2nd you decide to push your next payment date to October 30th. Since the new payment date is more than 37 days from the last payment date (September 5th), you will be billed on October 2nd. Your subsequent payment dates will then be changed to October 30th, November 30th, December 30th, etc.
If you decide to change your next payment date to anything less than 37 days from the last payment date, your next payment will be the day you choose.