The United States government came up with a PPP loan in the year 2020 to fight the devastating impact of coronavirus on business and employment. The PPP loan is known as a paycheck protection program and is a line of credit for small businesses to stop them from firing their employee.
In this article, we will be reviewing the PPP loan disbursed by Bluevine, how this finance company is catering to the needs and requirements of the customer.
To know all about this, keep reading Bluevine Ppp Loan Reviews till the end.
Table of Contents
What is Bluevine?
Bluevine is an online financial service and is not a bank, and it was founded in the year 2013 to help businesses cope with their cash flow problems. The core area in which this company offers its service is invoice factoring and giving a line of credit for trade.
The repayment time is six months and twelve months for the borrower. When the 2020 federal government in the United States came up with CARES Act, under which $953 billion business loan is to be distributed under the PPP plan, Bluevine started disbursing PPP loans.
Rules and regulation for Bluevine Ppp Loan Reviews:
Since many lenders provide PPP loans to the customer in the United States, Bluevine is one of the many lenders. The eligibility criteria and other regulations are almost the same for all the lenders.
Eligibility: All business organizations, whether it is a sole proprietorship, self-employed individuals, nonprofit organizations, veterans, or contractors who have employee strength of less than 500, can apply.
Documentation: All the documentation needs to be submitted with the application to the lender or the concerned bank.
Time: in general, it takes two weeks for the lender to disburse a PPP loan, but in the specific condition, it can take more time depending on the lender and bank which one selects.
What are Bluevine Ppp Loan Reviews?
Since before the pandemic, this website was dealing in invoice factoring and providing a line of credit to the business house, and it has a credible name in doing so. Still, the impact of the pandemic and care Act of the Federal government tempted it to go for a PPP loan.
Merchantmaverick.com has given a rating of four-star with 43 comments; when reading critiques of the customers, it appears that no one is happy with the PPP loan disbursement of Bluevine.
On Better Business Bureau, there are around 118 customer reviews, and most of them have given a rating of one out of five. Most of the customers are pessimistic about Bluevine Ppp Loan Reviews.
Final verdict:
Last year has taken a toll on almost everything, be it human or business, and most of them are trying to come out of this. As far as this website is concerned, the negative customer review and suspension of its regular financial product from the market has hurt its strong reputation in the financial sector.
Almost all the negative comments are related to PPP loans and non-response from executives. The company should come forward and clear the air about the delay in loan processing, which will help Bluevine and its customers.
If anyone of you has applied for a PPP loan with this lender or any other bank, please share your good or bad experience in the comment section and write about Bluevine Ppp Loan Reviews below.