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BlueVine vs Kabbage

BlueVine vs. Kabbage – Find Out Which One Is the Best

BlueVine and Kabbage are two of the most popular loan services on the market. Each one offers different types of options for companies such as lines of credit, term loans and invoice factoring. Discover the similarities and differences between the two in this Kabbage vs BlueVine comparison.

Key Features:


BlueVine

Kabbage

Loan Options
Bottom line: BlueVine offers more loan types
  • Lines of credit
  • Invoice factoring 
  • Lines of credit
Interest Rates and Fees
Bottom line: BlueVine doesn’t apply maintenance fees for lines of credit
  • Weekly interest rates – 0.30%-1.50% or 1.50%-6.50% per month
  • Interest rates as low as 1.00% for PPP loans
  • Origination fees of 1.60% - 2.50% per draw for credit lines
  • Late payment fees of 2.00% to 3.00% of the due amount for invoice factoring
  • Monthly interest rates - 1/6th, 1/12th, or 1/18th of the principal plus a fee
  • Monthly maintenance fee - 1.25%-10.00% of your original principal per month
  • Interest rate - 1.50% to 10.00%
Loan Requirements
Bottom line: Kabbage offers credit lines to applicants with credit scores of under 600
  • 6+ months in business for lines of credit / 3 months for invoice factoring
  • Minimum credit score: 600 (lines of credit), 530 (invoice factoring)
  • Minimum annual revenue: $120,000
  • Minimum 12 months in business
  • Minimum recommended credit score: 540
  • Minimum annual revenue: $50,000 or $4,200 as monthly revenue 
Application Process
Bottom line: BlueVine is slightly faster
Online, fast application process (approximately 5-8 minutes)Online, fast application process (approximately 10 minutes)
Customer support
Bottom line: BlueVine offers more support channels
Great support is offered by email, phone, social media, and a comprehensive FAQ section Good support by phone, email & help center
User Reviews
Bottom line: BlueVine enjoys fewer negative reviews
4.4 rating on Trustpilot, generally good customer reviews 4.2 rating on Trustpilot, generally good reviews 

About BlueVine and Kabbage

What is BlueVine?What is Kabbage?

BlueVine has been on the market since 2013. Unlike many BlueVine competitors, besides lines of credit for businesses, this company also offers invoice factoring and checking accounts. BlueVine provides secured financing loans and flexibility in terms of collateral. The company’s highlights are rapid funding, an intuitive platform, flexibility, and great customer support. 

Kabbage is known as a generous operating capital provider that even helps entrepreneurs with no credit history. Besides this, the company’s platform has always been praised for its speed and simplicity. One of the biggest advantages of this lender that focuses on lines of credit is that it also offers help to applicants with low credit scores. In 2020, the company was acquired by American Express.

BlueVine vs Kabbage: Loan Options

KabbageBlueVine
Line of creditLine of creditInvoice Factoring
Term Length6, 12, or 18 months6 or 12 months1 to 13 weeks
Repayment PeriodMonthlyWeekly or monthlyWeekly
APR Range24.00% to 99.00%Rates starting from 4.78%As low as 13.00%
Loan AmountMinimum $1,000 – maximum $150,000Minimum $5,000 – maximum $250,000Maximum $5 million

BlueVine vs Kabbage: Line of credit

BlueVine offers lines of credit with APR rates as low as 4.78%. Compared to Kabbage, BlueVine’s lines of credit come with higher amounts – the minimum value is $5,000 and the maximum one is $250,000. The term’s length can be either 6 or 12 months and you can pay the rates weekly or monthly.

Kabbage offers lines of credit with variable terms of 6, 12, or 18 months, whereas its competitor only offers 6 and 12-months loans. Borrowers can withdraw funds as needed and the money becomes available quite fast – even on the same day as you apply. The APR ranges from 24% to 99%. The maximum amount borrowers can take is $250,000 and the minimum amount is $1,000. The repayment is done at monthly rates.

Invoice Factoring

There aren’t many companies like BlueVine that enjoy the same popularity among borrowers and also offer invoice factoring. This is a great plus for BlueVine. Their invoice factoring service allows borrowers to get their invoices paid immediately through the holding account created by BlueVine. As soon as the company generates a new invoice, a portion of its value is instantly paid by BlueVine. Then, after the company’s clients pay the invoice, BlueVine sends clients the remaining amount after deducting the fees.

BlueVine vs Fundbox: Interest Rates and Fees

BlueVineKabbage
1.60% - 2.50% per drawOrigination FeesNo
NoPrepayment FeesNo
YesLate Payment Fees
  • $10 for balances less than $100
  • $35 for balances between $100 and $5,000
  • $100 for balances over $5,000
NoMaintenance Fees1.25%-10.00% of the original principal per month

0.30%-1.50% per week (Flex6)
1.50%-6.50% per month (Flex12)

Interest RatesBetween 1.50% and 10.00%
Yes, between 0.3% and 1% per weekDiscount RateDifferent discounts through Kabbage Coupon codes  

Both companies have their pros and cons when it comes to fees. Kabbage doesn’t apply any origination or prepayment fees, whereas BlueVine has an origination fee that ranges between 1.60% and 2.50% per draw. Both companies have late payment fees, and it is not very clear what percentages BlueVine charges. According to some sources, these fees can reach up to 5%. Kabbage’s late payment fees range between 1.25% and 10.00% of the original principal per month.

The main aspect we took into account while analyzing BlueVine alternatives like Kabbage were interest rates. BlueVine wins because its interest rates can be paid both weekly and monthly. The weekly rates range between 0.30%-1.50% and the monthly rates between 1.50% and 6.50%. Kabbage’s interest rates vary between 1.50% and 10.00%.

Bottom line: The winner for this category is BlueVine for its lower interest rates.

BlueVine vs Kabbage: Loan Requirements

BlueVineKabbage
600+Minimum Credit ScoreNone
$120,000 (or $10,000 per month)Annual Revenue$50,000 (or $4,200 monthly)
6+ monthsTime in Business12 months
No bankruptcy within the past yearOtherThey also examine revenue consistency and cash flow

BlueVine Requirements

BlueVine’s line of credit requirements are a bit stricter than those of its competitors. Unlike Kabbage, this company normally requires a minimum credit score of 650. Companies should have annual revenue of $120,000 to be able to apply and be in business for the past 6 months. If the company has an annual revenue of more than $200,000, it can have a lower credit score of 600. 

Kabbage Requirements

Kabbage is one of the few lenders with no minimum credit score requirements. The minimum recommended score is at least 540. To be able to access a line of credit, your business should have been on the market for the past 12 months. The revenue requirements include $50,000 in annual revenue or $4,200 as monthly revenue. 

Bottom line: Kabbage wins because it supports borrows with low credit scores.

Loan Application Process

BlueVineKabbage
LowApplication complexityLow
A few minutesApproval time10 minutes
As little as 3 hoursFundingEven the same day

BlueVine offers a fast and easy application process for all its loans. The process includes 2 main steps. First, you have to fill in a form to provide basic details about yourself and your business. You need around 10 minutes to complete the form online. Afterward, the company will review your application, which can take as little as 5 minutes if you apply for a credit line and 24 hours if you apply for invoice factoring. After you get approved for a line of credit, you will need to use BlueVine’s online dashboard to access the funds which can be available in only 3 hours.

Kabbage also has a fast application process that requires filling in an online form. You have to provide different information such as your cash flow statements, monthly revenue, or credit score. The applications are reviewed in 10 minutes or less. If your application is approved, you can receive funds the same day. Generally, it takes 1-3 days to get money in a traditional bank account. If you use a PayPal account for your company, you can receive money faster.

Bottom line: Both platforms are fast and easy to use. However, BlueVine wins as it makes funds available faster.

Customer support

BlueVine offers good customer support, which is also why the company usually enjoys positive reviews. This service provides different customer support channels. You can reach out by phone, from Monday to Friday, from 8 AM to 8 PM. You can also email the company by accessing their contact page. Alternatively, they are also available on social media, Twitter, and Facebook and they have an FAQ page where you can find useful information.

Kabbage also offers different customer support options including a phone number and email support. The company has a comprehensive resources center where you can find multiple easy-to-understand articles. 

Bottom line: BlueVine seems to offer more comprehensive resources o its website. 

User Reviews

BlueVine generally has very good customer reviews. It boasts a rating of 4.4 stars on Trustpilot and 4 out of 5 stars on Merchant Maverick. Some of the most common reasons why customers appreciate this service include their excellent support in short-term cash flow and money shortage problems, quick turnaround, quick funding, and transparent advertising.

Kabbage usually enjoys positive reviews although since it was acquired by American Express, some of its support functions seem limited. The company has an overall rating of 3.8 on Trustpilot and 4 out of 5 stars on Merchant Maverick. According to customer reviews, the pros of this service include a quick application process, the possibility to withdraw money at any time, and useful online tools. 

Bottom line: Both companies have relatively good reviews, however, BlueVine seems to be more popular among customers. 

When to Choose BlueVine

BlueVine is an excellent option if:

  • You need quick funding
  • You want to access PPP loans or invoice factoring
  • You look for reliable customer support
  • You’re looking for lower interest rates 

When to Choose Kabbage

Kabbage is a great choice for:

  • Borrowers with a less than perfect credit score
  • Companies with low annual revenues
  • Companies with little time in business
  • Borrowers who are looking for flexible repayments 

The Bottom Line

Both BlueVine and Kabbage make it easy for businesses to access credit lines and they both offer additional loan options and financial services respectively. If you have a low credit score, Kabbage might be the only option for you. If this is not the case, you can safely apply for a credit line through BlueVine as well. Both services have similar fees and interest rates. However, BlueVine’s are lower, which is one of the reasons why it is the overall winner of this Kabbage vs BlueVine comparison.

Frequently Asked Questions (FAQ)

Is BlueVine legit?

BlueVine is an established company and a legitimate business that usually enjoys positive customer reviews. The company is accredited by the Better Business Bureau and it also has an A+ rating with BBB. BlueVine is based in California, in Redwood City and it has been on the market since 2013.

Is Kabbage legit?

Yes, Kabbage is a legitimate and well-established business. It is nowadays owned by American Express, a bank that needs no further presentation, which is FDIC-insured. Kabbage also boasts an A+ rating with the Better Business Bureau.

How long does BlueVine take to process PPP loans?

Generally, people find it easy to apply for PPP loans through BlueVine. Once your application is approved, you may have access to funding within a few days or sooner. An average of 12 hours is necessary for the company to process the application and approve it.

How to get approved for a BlueVine loan?

Approval depends on several factors and eligibility criteria such as applicants’ credit scores, their financial history, and the creditworthiness of their customers. Once loans are approved, which usually takes around 24h maximum, clients can expect to receive funds within a few hours.