BlueVine Founder Eyal Lifshitz
BlueVine Founder Eyal Lifshitz

BlueVine launches cloud-based invoice financing

BlueVine Founder Eyal Lifshitz
BlueVine Founder Eyal Lifshitz

BlueVine is growing its offerings.

The company that gives small businesses an advance on their invoices is now letting them write manual invoices online.

And business owners don’t need special software to use it.

“Our customers now have the choice to get funded in the manner most natural, efficient and flexible for them,” BlueVine founder Eyal Lifshitz told Bankless Times in a release.

It’s as easy as entering the details of paper invoices into BlueVine’s cloud-based invoice factoring program. This manually creates an online invoice without having to connect accounting software.

The Palo Alto-based platform launched the new feature today from beta, after its says more than a third of new customers successfully advanced millions of dollars on outstanding invoices.

BlueVine cites a study by Robert Half and Financial Executives that 54 percent of U.S. firms rely on manual reconciliation of accounts. Its solution gives industries such as trucking, manufacturing and field services access to online invoicing and financing.

That’s right. BlueVine’s online invoicing feature joins its online financing solution – a solution that offers credit up to $150,000 for qualified small businesses.

The credit lines – starting at $5,000 – advance cash to small businesses within 24 hours instead of waiting for Net 30, Net 60 or Net 90 payment cycles.

“BlueVine is continually expanding our maximum credit line to become more accessible to growing SMBs that want to benefit from our easy-to-use, streamlined receivables financing solution,” Lifshitz said.