Revenued Flex Line Review

What Is Revenued?

Revenued is a financial institution that was founded in 2015 to help provide small business financing for businesses that might not qualify for traditional bank loans. It’s an alternative financing company that offers two financing options for small businesses with lower credit scores, all wrapped in one package: Revenued Business Card and Revenued Flex Line. 

What Is Revenued Flex Line?

Revenued Flex Line is a business line of credit offered by Revenued as an additional feature of the company’s Revenued Business Card. While it may appear like a credit card, the Revenued Business Card is actually a merchant cash advance (MCA), so when you pay with the card, the amount you spent is repaid daily from your connected bank account based on your forecasted sales.

As with other lines of credit, Revenued Flex Line allows you to draw cash in real-time from your credit line up to your spending limit. The cash is deposited into your business bank account within 24 hours of approval. You can use this cash draw for your business needs, such as improving cash flow, buying equipment, or boosting your spending power. As with a business credit card, you pay back the amount you’ve used and pay interest on whatever you haven’t paid back. This also opens up the availability of that credit to be used again.  

Revenued Flex Line does not charge any annual fees or monthly fees, and does not charge an application fee. Approval for the line comes from approval for the Revenued Business Card, meaning there’s no hard credit pull, so it won’t affect your credit. However, there is a soft credit inquiry to make sure the small business has never defaulted on a merchant cash advance in the past. 

What Are the Advantages and Disadvantages of Revenued Flex Line?

As with any business line of credit, there are pros and cons.

Nav’s Verdict: Revenued Flex Line

Revenued is adding some new financing options for small businesses that may not have access to traditional business financing. If you’re already interested in a Revenued Business Card because your personal credit or business credit scores are less than stellar, Revenued Flex Line can give your business more flexible spending power through access to cash. Because it’s an automatic add-on for any cardholder of the Revenued card, the Revenued Flex Line can be a great option for small businesses that prefer to use cash to pay for items rather than a business credit card. However, because it’s technically a merchant cash advance, it’s important to understand rates and repayment before you start spending. You can find out more at Revenued.com.

Frequently asked questions About Revenued Flex Line

Can I get a Revenued Flex Line without getting the Revenued Business Card?

No, you must first qualify and be approved for the Revenued Business Card before you can access the Revenued Flex Line. The line of credit is like an extension of your Revenued card, allowing you to withdraw cash to your business bank account, up to your credit limit.

How can I qualify for the Revenued Flex Line?

In order to access the Revenued Flex Line, you must first qualify for the Revenued Business Card. Because Revenued does not base eligibility on your credit score, you can qualify for the card even with less than stellar FICO credit scores. Other qualifications for the card include:

• Must be a U.S.-based business
• Must have at least six months in business operations (no startups)
• Must have a business bank account
• But not have gone negative in your bank account for more than three days in a month
• Bring in at least $10,000 in revenue each month
• Maintain a daily bank balance of at least $1,000 

How do I apply for Revenued Flex Line?

In order to apply for the Revenued Flex Line, you’ll apply for a Revenued Business Card. The application is completely online and includes basic questions about your company, such as revenue and time in business. They’ll do a soft credit check to make sure that you aren’t in default with any merchant cash advances. You’ll know you’re approved quickly — often within an hour — and be able to use your funds in as little as 24 hours.

Is Revenued Business Card a credit card?

No, it’s actually a merchant cash advance. Instead of paying an annual percentage rate (APR) or interest on your purchases, you pay a factor rate. Because it’s not a variable interest rate, you’ll have a better idea of how much you’ll owe up front. 

Will I pay interest on my Revenued Flex Line cash withdrawals?

No, you won’t pay an APR or interest rate on the cash withdraws from your Revenued Flex Line. Instead, you’ll repay it as you would any spending with the Revenued Business Card — as a percentage of your daily forecasted sales based on your factor rate. 

Does Revenued offer other business financing options?

Currently, Revenued offers its Revenued Business Card and Revenued Flex Line.