Biz2Credit Small-Business Loans Review


Biz2Credit was founded in 2007 as a platform to match small businesses with funding based on their needs by connecting borrowers with lenders that offer a range of loan credit options. The platform has arranged more than $3 billion in small business financing for thousands of U.S. companies.

Best Features

  • Uses a network of financial institutions
  • Matches borrowers with loan options
  • Offers a wide range of loans

Drawbacks

  • Functions as a platform not a direct lender
  • Allows lending guidelines to vary

Which Business Loans Does Biz2Credit Offer?

Biz2Credit offers a full suite of business loans, some of which are industry-specific, like loans for car dealerships, salons, gas stations, restaurants, hotels motels. As a credit resource, Biz2Credit connects businesses of all sizes – particularly small businesses – with loans financing options.

Biz2Credit funding choices include:

  • Merchant cash advances
  • Small Business Administration, or SBA, loans
  • Business lines of credit
  • Real estate financing
  • Equipment financing
  • Franchise loans
  • Disaster loans
  • Business acquisition loans
  • Business credit cards
  • Unsecured loans
  • Bad credit business loans
  • Working capital loans

What Are Biz2Credit’s Loans Terms, Fees Discounts?

Biz2Credit does not charge application fees, you can use any of its online tools for free. However, you will pay an underwriting fee of $250 to $400 for a nonbank loan such as a merchant cash advance if your transaction closes.

Borrowers pay a fee to Biz2Credit after closing bank loans, the cost depends on the size the type of transaction. Some commercial real estate loans require a fee at closing as well.

Interest rates on Biz2Credit loans depend on the borrower’s credit history how fast the borrower needs money. For example, SBA traditional bank loans can take longer to process than nonbank loans but tend to offer the best interest rates.

Borrowers can also use a Biz2Credit online tool that analyzes products a business may qualify for, including potential fees interest rates.

How Can You Qualify for a Biz2Credit Business Loan?

Complete the online profile, which takes just a few minutes, to qualify for a Biz2Credit loan. Based on this information, Biz2Credit matches business owners to sources of capital that can fulfill their needs.

Borrowers need a credit score of at least 580, which falls in FICO’s fair range, for a business line of credit from Biz2Credit. They should be in business for at least one year, with revenue of at least $10,000 monthly on average.

Business owners might have to provide collateral such as accounts receivable for short-term loans. Bankruptcy, foreclosure tax liens can disqualify borrowers.

Keep in mind that these are general guidelines because terms vary among Biz2Credit’s lenders.

How Long Does Biz2Credit Business Loan Approval Disbursement Take?

Biz2Credit can approve disburse loan funds in as little as 24 hours, as long as borrowers submit proper documentation.

You’ll transmit personally identifiable information, including name, address, phone number, email, financial profile, Social Security number, credit card information FICO scores, through the secure portal.

Your information is gathered only if you choose to apply for a Biz2Credit loan.

Does Biz2Credit Offer Good Customer Service?

Biz2Credit has an excellent rating on Trustpilot. The company has an A+ rating with the Better Business Bureau.

Biz2Credit has a robust knowledge center on its website stocked with e-books guides, along with an index of loan approval rates to help borrowers understbanks’ lending activity. A toll-free number for customer service appears prominently on the Biz2Credit website.

Biz2Credit Business Loans Are Best for:

  • Businesses seeking one source for many loan options
  • Businesses with monthly revenue of at least $10,000
  • Businesses looking for industry-specific loans



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