REDWOOD CITY, Calif., Nov. 1, 2017 /PRNewswire/ -- BlueVine, the online business lending pioneer, has been named Best Business Finance Provider in North America at the 2017 Trade Finance Global Awards.
The awards, given by the London-based international business finance network and information hub, cited BlueVine's "innovative credit solutions and products" and the Silicon Valley fintech company's expanding role as a provider of working capital financing to small and medium-sized businesses.
"BlueVine's invoice financing solution has certainly disrupted the U.S. market with innovative credit solutions and products such as Flex Credit," James Sinclair, editor of Trade Finance Global, said in a statement. "We have high hopes for BlueVine as it navigates the SME financing landscape in North America."
"This is a great honor for us," BlueVine CEO and Founder Eyal Lifshitz said. "We're proud and excited about our growth in North America where we've helped thousands of small and medium-sized businesses address their working capital challenges. We thank Trade Finance Global for recognizing BlueVine's achievements."
The Trade Finance Global Awards honors companies that are helping address the financing needs of small and medium-sized enterprises throughout the world. Each category was judged by a panel of professional judges and 2017 was the biggest awards to date, choosing from over 100 companies across 5 markets, Trade Finance Global said in a statement.
"With the recently announced $1.5 trillion trade finance gap, primarily due to lack of SME finance and trade financing in Asian countries, the international trade awards looked at those stepping in to bridge and address this shortfall, along with ancillary products and services helping businesses trade internationally," the organization said.
Sinclair, the Trade Finance Global editor, also said: "We were proud to nominate fintechs and disruptors who are using technology to accelerate the use of paperless trade, automation and eKYC. It's been a pleasure for the judging panel reading independent reviews, talking to experts in the sector, and reviewing websites."
BlueVine provides flexible working capital financing to small and medium-sized businesses, giving them quick access to funds needed to purchase inventory, cover expenses, or expand operations. A fintech pioneer, BlueVine developed a fully-online cloud-based platform for invoice factoring, revolutionizing the 4,000-year old financing system that allows businesses to receive cash advances on outstanding invoices. BlueVine also offers FlexCredit, business line of credit financing based on 6-month and 12-month payment terms.
Trade Finance Global is the leading authority and information hub for businesses seeking trade finance, export finance and supply chain finance.