BlueTape introduced the BlueTape Virtual Card, a new payment and financing tool for the construction industry.
BlueTape financing has been used by general contractors and subcontractors to purchase building materials from partner building material stores since its inception.
With this new feature, contractors across the country can begin using BlueTape to finance their building supply invoices at any construction supply store.
General contractors and subcontractors can buy supplies from any material supplier and pay them upfront with the virtual card when they check out online, by phone, or in-store. They will have the option of repaying BlueTape in 30, 60, 90, or 120 days.
Construction professionals will receive quick paperless approval with a few taps on their phone, with no impact to their credit score. They will pay no fees and make no payments for the first 30 days.
The BlueTape Virtual Card is a more versatile and cost-effective alternative to traditional credit cards. BlueTape’s approval rate is higher than that of traditional loans and in-store trade credits, making financing more accessible to construction professionals.
BlueTape’s COO and co-founder, Patrick Gannon, stated: “Our customers have enjoyed using BlueTape’s flexible financing at our partner stores, and they have requested that we make BlueTape’s Trade credit and Build Now Pay Later available everywhere. We are excited to introduce the BlueTape Virtual Card to assist our SMB customers in improving their cash flow and taking on more projects. We can assist contractor businesses, including those that may not have access to traditional financing options, with this new financing feature.”
