13:37 PM

Growth financing now available online: Nationwide teams up with BlueVine to help businesses

A venture capital investment made by Nationwide last year is really taking off. Now, small business owners can qualify for fast, flexible financing thanks to our relationship with small business lending company BlueVine.

Available through Nationwide’s Business Solutions Center, small businesses can access the BlueVine’s innovative online lending platform by applying here. The BlueVine platform offers approvals in as fast as 10 minutes.

Nationwide is No. 1 in customer satisfaction with small commercial insurance1 , and we’re committed to small business owners and proud of the connections we make with companies like BlueVine to help them move their businesses forward. Helping those business owners protect what’s most important to them and plan for a secure financial future is at the core of what we do.

According to recent data2, most U.S. small- and medium-sized businesses have less than one month’s cash buffer. Cash buffer days are the number of days of cash outflows a business could pay out of its cash balance were its inflows to stop.

And while access to working capital is critical to business growth and stability, small businesses traditionally struggle to get the financing they need. From a 2017 Federal Reserve Bank study3:

  • 40 percent of employer firms applied for financing in the previous 12 months
  • 75 percent sought less than $250,000
  • 54 percent of applicants failed to get the full amount they needed
  • 24 percent received no funding at all

Business Financing Made Easier

BlueVine’s online platform provides business owners with fast and easy access to working capital financing, without the hassle of visiting a branch or submitting mountains of paperwork. Completing an application takes minutes, and approvals can be delivered in as little as 10 minutes. The company provides lines of credit up to $250,000, and invoice factoring up to $5,000,000 in funding availability.

BlueVine’s platform was designed specifically for business owners who are looking to take their business growth to the next level but need flexible working capital support to get there. This mission-driven focus is a strong compliment to Nationwide’s stewardship in the small business community.

Online lending powered by BlueVine is just one of several products and resources Nationwide provides a variety of businesses through its Business Solutions Center.

Nationwide innovation efforts gain momentum

In addition to the relationship with and investment in BlueVine, Nationwide has also announced the following innovation related efforts over the past year:

  • Nationwide’s venture capital team has made 12 investments to date, including SocotraBetterviewNexarblooomInsurifyNext InsuranceMatic and Sure.
  • Nationwide plans to open a new innovation center in the Arena District near its Columbus-based headquarters in 2019.
  • Nationwide is committed to driving innovation that helps members:
    • Live comfortably in retirement
    • Meet their insurance and financial needs in novel and digital ways
    • Protect their data and digital assets
    • Protect them in the evolving area of mobility
1 J.D. Power 2018 Small Commercial Insurance Study
2 JPMorgan Chase Institute Study, September 2016
3 Federal Reserve Bank, SBCS 2017