Pros

The best feature that Bluevine invoice factoring can claim is that you only pay for invoices you want funded. This means you don’t have to put every invoice you get through Bluevine, which adds a level of flexibility that will be appreciated by many companies. Bluevine’s software is also compatible with many popular bookkeeping programs, which makes it a simple task to keep track of how Bluevine’s services and your other revenue sources are working. They don’t have any hidden fees, and the only fee they do have is an optional $15 for a wiretransfer. However, customers can choose to use an ACH transfer for free, and that process only takes 1-3 business days. Finally, Bluevine has some of the most transparent pricing information in the industry. Their minimum discount rate is .85%, and their maximum discount rate is .90%. This is not only on the lower end of what invoice factoring usually costs, but also gives companies a clear range on what to expect, and is different from other companies that only provide a minimum rate.

Cons

One problem that Bluevine has is that it doesn’t work in certain industries, specifically with medical or healthcare companies, so companies in those niches will have to look elsewhere for invoice factoring services. Blueline also has a minimum requirement for factoring, though at $5,000 it’s not as high as many other companies that have minimum limits.