BlueVine secures up to $75 M credit line

Online working capital financing provider BlueVine has secured a warehouse line of credit of up to $75 million from Fortress Credit Corporation and/or funds managed by affiliates of Fortress Investment Group LLC.

The funds allow BlueVine to expand Flex Credit, its credit financing solution, which is an on-demand, revolving business line of credit of up to $100,000. BlueVine said it expects Flex Credit to grow by more than 400 per cent in 2017.

BlueVine said it funded approximately $200 million in working capital for small and medium-sized businesses and expects to fund $500 million in 2017.

Free newsletter signup
I agree to have my personal information transfered to MailChimp ( more information )
Never miss another Bankless Times news story as we send you hand-picked articles every morning
We hate spam. Your email address will not be sold or shared with anyone else. You will only receive our daily newsletter. You can unsubscribe at any time.