Results 1 to 20 of 20
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01-16-2019, 12:07 PM #1
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
Someone please explain Blue Vine selling point to me
So i have tried to sell Blue Vine's program and run into all types of issues.
1. They charge is.5%-1.5% weekly. That ends up being more than most MCA's
2. Qualification is very difficult.
So my question is, what is the selling point, besides that fact that you are only paying on what you use.
Thanks for any input.I put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
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01-16-2019, 12:27 PM #2
- Join Date
- Feb 2017
- Posts
- 3,429
Simple interest on Bluevine's products are in the 24% range. That's a 1.24 amortized over 6 or sometimes 12 months.
The .5-1.5% rate is for factoring not the LOC. Those are pretty high rates for factoring, TBH, but the can "spot" factor.
Besides that, whatever they pay back, they can draw again.
https://www.abfunders.com/business-l...ine-of-credit/
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01-16-2019, 12:34 PM #3
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,485
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-16-2019, 12:36 PM #4
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,485
Correction-We will select factor if there is enough volume to make it worth our time. Example: I was approached by a company yesterday that does $50Mil/year in revenue and would like to factor 4 of their customers that account for 40% of revenue.
We have also done true sales.....not many have pulled those off efficiently.Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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01-16-2019, 12:43 PM #5
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
I put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
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01-16-2019, 01:40 PM #6
- Join Date
- Oct 2018
- Posts
- 99
Who else does LOCs besides Kabbage, BluVine and FundBox?
Adam Ward
911 Ave U
Brooklyn NY 11235
adam@Funding-Zone
347-269-1598
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01-16-2019, 02:13 PM #7
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01-16-2019, 02:18 PM #8
- Join Date
- Dec 2013
- Posts
- 4,713
Lots of new companies in the pre-pop-out stage going to be offering LOC.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
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01-16-2019, 02:35 PM #9
- Join Date
- Nov 2018
- Location
- Phoenix AZ
- Posts
- 90
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01-17-2019, 02:32 PM #10
- Join Date
- May 2016
- Location
- San Francisco & New York City
- Posts
- 75
Warning: I work at BlueVine, so I'm a bit biased
Rates
- 12 month LOC: Simple interest of 8.7% - 47% (equivalent to a 1.09 - 1.47 factor rate over 12 months)
- 6 month LOC: Simple interest of 4.8% - 22% (equivalent to a 1.05 - 1.22 factor rate over 6 months)
- Factoring: 0.25% - 1.5% per week. This is a large range in price that allows us to work with a broad range of customers.
@skideeppow: The customer value proposition on the LOC is the following:
1) It's an interest rate, so there is no pre-payment penalty (like you see with a factor rate)
2) As the customer pays back the principle, they can re-draw those funds without the need for a "renewal" (it's an LOC after all!)
3) The LOC can co-exist with another loan or MCA; we don't require 1st position
Essentially, any customer who is optimizing for flexibility will prefer the LOC.
One other comment on pricing - on average, we tend to be much less expensive capital vs. other MCA and TL options for like-for-like customers.
@kevinhenry0527
These days, I mostly target customers with annual revenue of $5M - $50M. Considering we're a spot factor (i.e. don't lock customers into minimums & other fees) and that we're 100% online software-enabled, we tend to win many more deals than we lose.
We quote one weekly rate with NO hidden fees in long-term contracts. Once you add in the hidden fees that most factors pepper into contracts, we tend to beat those factors on price (i.e. least expensive cost of capital all in). CFOs of lower middle market are sophisticated to the point where they'll run that math on total cost of capital.
Matt Estes
Head of Originations
partners@bluevine.com
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01-17-2019, 03:20 PM #11
- Join Date
- Feb 2016
- Posts
- 242
call blue vine and have them explain it to you instead of coming on daily funder lol
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01-17-2019, 04:49 PM #12
I just saw a Flex Line of Credit from Bluevine a few days ago:
Monthly rate: 2.75%
12 pmts
Simple interest rate: 18.76%
When I did the math from an example of total paid vs. net after the 1.60% draw fee, it was about 20% total interest paid.
you need a selling point? Here's one: There is NO COMPARISON between a simple interest loan & a cash advance. If you can get a simple interest loan, you grab that ASAP.
Another thing to consider is that a cash advance funder will usually approve for more than Bluevine will. It's just that the money is a lot more expensive.
Bluevine money, just like IOU, and whoever else does simple interest (Quarterspot..., etc...) make it that if you're able to pay early, you don't have to pay the entire interest.
On any cash advance, you're paying full payback, minus maybe 7% discount if you pay it back on full term or in 2 weeks. So that's your selling point right here. Simple interest on top of the fact that you have a true line of credit, no matter how expensive it may seem to be. I can't believe I'm still not signed up w/ Bluevine!
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01-17-2019, 05:04 PM #13
It's a solid program if your client fits. The payout is pretty nice if the client keeps dipping in.
They can pay off and use as needed. (selling point)Jonathan Kohanoff
B.R.E. #01962090
Diamond Business Loans
Beverly Hills, CA 90211
jon@diamondbl.com
www.DiamondBL.com
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01-17-2019, 06:58 PM #14
- Join Date
- Feb 2017
- Posts
- 3,429
No COJ
Like I said in another string, Bluevine is not the product that "sales floors" sell to their clients, since it's residuals. Unless there's a W2 employee, a rep can't be paid 1-1.5 on every draw if they're only there for 6 months! Hard shoes to fill.
I for one personally love Bluevine. It's a product most don't offer because of this "problem" that they are selling money on the phone. Lenders (not just funders) deserve business, too!
It's good for me at least!
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01-17-2019, 09:31 PM #15
- Join Date
- Dec 2018
- Posts
- 3
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06-05-2019, 06:10 PM #16
- Join Date
- Apr 2013
- Location
- Basalt CO
- Posts
- 867
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06-05-2019, 06:14 PM #17
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
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06-05-2019, 08:18 PM #18
- Join Date
- Jul 2017
- Posts
- 105
speak to NICHOLAS.ZORTEA@bluevine.com
Direct Funder | MCA | Public Companies | Convertible Notes | Hard Money
D. 516-667-6817
paul@coolidgecapital.com
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06-06-2019, 12:17 AM #19
- Join Date
- May 2016
- Location
- San Francisco & New York City
- Posts
- 75
The 12 month LOC is fully amortizing with a monthly payment. The 6 month LOC is fully amortizing with a weekly payment. We offer calculators that include their products' respective amortization schedules. Reach out to your rep if you'd like to see either Excel calculator.
Matt Estes
BlueVine
partnerinquiry@bluevine.com
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06-06-2019, 12:23 AM #20
- Join Date
- May 2016
- Location
- San Francisco & New York City
- Posts
- 75
I'd like to help you, but would need to know who you are so I can look at your account. Send an email to 'partners@bluevine.com' if you'd like to discuss.
We can give you eligibility criteria (FICO, NSFs, TIB, monthly revenue, etc.) where we can fairly confidently predict you'll hit a 70%+ approval rate...
Matt Estes
BlueVine
partnerinquiry@bluevine.com
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