BlueVine doubled the credit line size for its invoice factoring product to up to $5 million and increased the limit for its business line of credit product from $150,000 to $200,000, making its Flex Credit product a more attractive financing option for larger or fast-growing companies.
“In just four years, we’ve dramatically increased our invoice factoring credit line to $5 million, and our business line of credit to $200,000,” BlueVine CEO and founder Eyal Lifshitz said. “We continue to be fully committed to providing business owners with robust financing options to help them thrive.”
BlueVine also opened a new office in Jersey City, NJ, where the company hopes to better serve customers and partners on the East Coast. Aside from its headquarters in Redwood City, CA, BlueVine also has offices in New Orleans and Tel Aviv.
In 2016, BlueVine introduced a six-month business line of credit called Flex Credit based on weekly payments. The company introduced a 12-month line of credit based on monthly payments in 2017.