Partnership enables easy application and fast approval for FLEETCOR customers
ATLANTA--(BUSINESS WIRE)--Apr. 28, 2020-- FLEETCOR Technologies, Inc. (NYSE: FLT), a global leader in business payments, is helping businesses apply for government relief funding through the Small Business Administration’s (SBA) Paycheck Protection Program. FLEETCOR has engaged with BlueVine, a provider of small business banking, to deliver this critical support to its small business customers.
Created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Paycheck Protection Program (PPP) provides eligible small businesses with cash-flow assistance through 100% federally guaranteed loans that can function like non-taxable grants. Through BlueVine, FLEETCOR customers can easily apply online for PPP loans. BlueVine’s technology and experienced advisors are helping businesses quickly get access to these funds, which businesses can use for payroll costs. Although the first round of $349 billion in funding for the PPP was exhausted soon after the program launch in early April, Congress has recently passed an additional $310 billion in funds for the program.
“Small businesses around the country will continue to inject their drive, ingenuity, and hard work into the communities in which they operate, but we want to make it easier for them to do so in the midst of this challenging pandemic,” said Alexey Gavrilenya, Group President North America Fuel. “Our customers need assistance to navigate through roadblocks and processes, and our engagement with BlueVine will deliver this much needed support.”
BlueVine’s loan application process, including retrieving loan numbers from the SBA, is automated and online. Most U.S. small businesses with 500 or fewer employees that have been in operation before February 15, 2020, are eligible to apply for PPP loans including sole proprietorships, independent contractors, eligible self-employed individuals, non-profit organizations, and tribal businesses.
“Our PPP loan application is fast, convenient, and available to all backgrounds and businesses, even if they haven’t worked with BlueVine before,” said Eyal Lifshitz, Co-founder and Chief Executive Officer of BlueVine. “We are excited to partner with FLEETCOR on this crucial relief effort to support and protect the millions of small businesses that are in need of help amidst the COVID-19 crisis.”
To learn more about how you can apply for a PPP loan, please visit www.bluevine.com/fleetcor-ppp.
FLEETCOR Technologies, Inc. (NYSE: FLT) is a leading global business payments company that simplifies the way businesses manage and pay their expenses. The FLEETCOR portfolio of brands helps companies automate, secure, digitize, and control payments on behalf of employees and suppliers. FLEETCOR serves businesses, partners, and merchants in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com.
BlueVine empowers small businesses with innovative banking designed for them. BlueVine’s advanced online platform is intuitive and offers a convenient solution for the banking and working capital needs of businesses. BlueVine offers a suite of products designed to meet the diverse financial needs of today’s business owners including BlueVine Business Checking, Line of Credit, Term Loan, and Invoice Factoring. Based in Redwood City, Calif., BlueVine has provided small and medium-sized businesses with access to more than $3 billion in financing and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83 North, SVB Capital, Citi Ventures, Nationwide Insurance and M12 (Microsoft’s Venture Arm). All lines of credit and term loan products are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Bank account services are provided by The Bancorp Bank, Member FDIC. PPP loans are made by one or more approved U.S. Small Business Administration (“SBA”) lenders. Loan agreements will identify the issuing lender to small businesses at signing. Funds are limited, and may not be available at this time. Once funds are available, qualified and completed applications will be submitted to the SBA. BlueVine does not guarantee that applications will be processed and submitted before PPP funds are no longer available. There are no fees for applying for PPP. Approval and loan forgiveness are subject to your ability to meet government-set eligibility requirements. BlueVine® is a registered trademark of Bluevine Capital Inc. For more information, please visit www.bluevine.com.
Source: FleetCor Technologies Inc