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.