Biz2Credit

Biz2Credit

 4.3/5 (106 ratings)
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About Biz2Credit

Biz2Credit is an online lending platform. While not a direct lender itself, the company uses your online profile to match you with a lender that suits your needs. It offers an easy application process that takes as little as four minutes. Biz2Credit can help you find loans from $25,000 to $6 million. You can receive a decision in as little as 24 hours and potentially get funded in 72 hours.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Works with all types of businesses
  • Apply in 4 minutes
  • Get funds in as little as 72 hours

Cons

  • Underwriting fees
  • Not a direct lender

Bottom Line

Biz2Credit is an online lending platform that matches you with the right loan for your business’s needs. It offers quick applications and relatively fast funding. However, fees and rates can be high, depending on the lender.

Top Biz2Credit Reviews

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Rated with 5 stars
Verified

Biz2Credit has made communications and reminders down to a well-oiled machine. I am the president of a small business and ... read an article in the NY Times about Biz2Credit and ...

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Rated with 5 stars
Verified

Just a top-notch group of guys who really went out of their way to make sure my business kept running and the process itself was painless. It just feels like home when it comes to...

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What is Biz2Credit?

Biz2Credit is a lending platform designed to help business owners find loans no matter the project or industry they’re involved in. Along with lending options, Biz2Credit provides business owners with a wealth of free support. This includes a large knowledge center and business tools to make financing more understandable and approachable.

How does Biz2Credit work?

Biz2Credit has a simple process:

  1. Create a profile: Start by providing basic business information to help Biz2Credit understand your financing needs. This takes less than a minute.
  2. Submit your application: Answer a few questions and provide some business documentation. You can do this with PDFs or by connecting your business bank account. This takes about four minutes.
  3. Find funding solutions: Once you submit your application, you should get funding options within 24 hours.
  4. Get funded: Once you’ve reviewed your options and chosen one, you can receive your funding. Depending on the type of loan, you can get funded within 48 hours of final approval.

Biz2Credit products

Biz2Credit offers three main funding options for business owners:

  • Working capital is good for fast financing, and you can get from $25,000 to over $2 million. Most businesses looking for working capital have annual revenue of over $250,000, a credit score of 575 or higher, and at least six months in business. Flexible payments are available, giving you the option of daily, weekly or bimonthly payments from your business receipts. Approval is available in 24 hours or less.
  • Term loans offer stability so you can grow your revenue over time. You can apply for loan amounts between $25,000 and $500,000 with rates starting at 7.99%. This loan is suitable for businesses that have been operating for at least 18 months, have a credit score of 660+ and have annual revenue of $250,000 or more. Repayment terms are available for 12, 18, 24 and 36 months, with weekly, monthly or bimonthly payments. Approval is available in 24 hours or less.
  • Commercial real estate loans are secured by the equity in your commercial real estate. Loan amounts are available from $250,000 to $6 million with rates starting at 10%. These loans are good for customers who have been in business for at least 18 months, already own commercial property, have a 660 credit score or above and have annual revenue of at least $250,000. Terms are available between 12 and 36 months with monthly payments. You can be approved in 30 days or less.

Biz2Credit rates

Rates available through Biz2Credit depend on several factors, like your credit history, how soon you need the money and what funding option you choose. Interest rates for term loans start at 7.99%, and rates for commercial real estate loans start at 10%.

There are no application or submission fees through Biz2Credit. That said, you may have to pay closing fees and an underwriting fee that’s typically between $250 and $400. All fees are clearly laid out in a written agreement before funding.

Biz2Credit FAQ

What types of loans does Biz2Credit offer?
Biz2Credit offers business loans. The company can arrange:
  • SBA loans
  • Traditional bank loans
  • Business lines of credit
  • Equipment financing
  • Business acquisition loans
  • Commercial real estate loans
  • Refinancing
  • Merchant cash advances
  • Special lending programs for veterans, women and minorities
How long does it take to get a loan from Biz2Credit?
For working capital and term loans, Biz2Credit can get funding to you in as little as 72 hours after starting your application.
How much money can I borrow from Biz2Credit?
The amount of money you can borrow from Biz2Credit depends on the type of loan you’re choosing:
  • Working capital can provide $25,000 to over $2 million.
  • Term loans can provide $25,000 to $500,000.
  • Commercial real estate loans can provide $250,000 to $6 million.
Is Biz2Credit SBA-approved?
The Small Business Administration has approved Biz2Credit’s lending affiliate for its Paycheck Protection Program.

Biz2Credit can also help businesses find SBA-approved funders for SBA loans.

Is Biz2Credit legit?

Biz2Credit is a legitimate lending platform that can help you find the right loan for your business. Biz2Credit doesn't give out loans directly, but it can match you with an appropriate lender. The application process can take as little as four minutes, and you can receive funding 72 hours after that. Just make sure the fees and interest rate you agree to are reasonable. We recommend shopping around to see what options are available to you so you can make an educated decision.

Biz2Credit Reviews

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How do I know I can trust these reviews about Biz2Credit?
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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 19, 2022

I needed something for the running expenses I have. I applied for a loan with Biz2Credit and the process was easy. I just had to give them six months’ worth of bank statements and answer a few questions. I can download the statements through my bank and just forward them right over to Biz2Credit. Customer service was really communicative with me and let me know where everything stood. I knew where everything was at each step of the plan. They either emailed me or texted me so it was good. The process took three days at the most. There were a few hiccups on my part and it caused an extra day’s delay. But it was all pretty smooth.

Biz2Credit response

Hi Jeff,

Thank you for taking the time to give our company a positive review. We are thrilled to hear you had a positive experience using our platform. In order to improve as a company, we take our customers' feedback very seriously.

Considering your positive experience with Biz2Credit, we would love to feature your story and highlight your business's success on our company's website and social media channels. Please send us an email at info@biz2credit.com so we can discuss the next steps. We look forward to hearing back from you as we look forward to working with you again in the future.

Biz2Credit.

33 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 4, 2022

Biz2Credit has a little business credit monitor thing. It's not for exact business credit like through Dun & Bradstreet, but it's like a score they give you. It made me think that they will lend to me money and they did. During the application process, they approved me and I sent over paperwork. That was a super smooth process and they said they were going to fund me. But they called back a couple of hours later and asked, "Why did your revenue drop?" It was in the middle of the month and my client hadn't paid yet. I've never been approved for something then they say, "We don't think we're gonna approve you now." That was annoying. But in the end, they just funded it. I got up the next day and the money was there. That seemed a little bit shady and I don't like that part. Customer service seems a little bit hard to get ahold of, and there's no way to pay off the loan if I wanted to pay it off today.

Other than that, the rates were pretty fair. I expected a lot worse. If Biz2Credit continues to lend then increase the amount, I'll be very happy with them. But if all of a sudden the rates skyrocket or if they don't continue to lend more as my revenue grows, I'll go to other places. For the most part, I'm happy. The rep said to call him back in a month to see if he could give me more money. I'm interested to see if that's really true, what they offer, and what the terms look like. If the terms and rates stay like they are, I'll continue to build a relationship with them.

36 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 17, 2022

    Biz2Credit works with me all the time, so we have a good relation. Recently, I received a cash advance for 600,000 from them and the process was very good. But after financing, they’ll call every day and ask if you need more. I told them a hundred times to please don't call me. Even today, they called me and I told them that if they called me again, I'm going to put a bad review because this is harassing me. Before, it was not like that. But since I got this last payment, different people would call me every day every week with a different number.

    Biz2Credit response

    Hi Saba,

    Thank you for taking the time to give our company a positive review. We are thrilled to hear you had a positive experience using our platform.

    However, we are incredibly sorry for the repeated calls and the troubles we have caused. In order to improve as a company, we take our customer's feedback very seriously and work on improving our service.

    Going forward please contact support@biz2credit.com with any complaints, as we hope to make sure there are no future issues with your Biz2Credit experience.

    19 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 14, 2022

    I’m opening a store for our bakery and we were finishing the construction, so I got a capital loan from Biz2Credit. The rep was amazing and extremely helpful. When I was applying, it was so easy and it was so good to be true, and when I was doing it on my mobile phone, the website was mobile responsive. I was thinking it was impossible so I went online and checked to see if it was a scam. I sent it to my partner and asked him to search it. You could search everything and see credits of the company. The next day, Biz2Credit followed up and we got the loan in a week.

    I needed that cash and working with them turned out in a good way. Their interest rate is too high though. I'm not sure if we would go again, because whoever I talked with said that we should have never taken this kind of deal. But as a business owner, I needed that money. It's hard. We are able to pay but at the same time, it's not so feasible. Still, doing business with Biz2Credit was great.

    Biz2Credit response

    Hi Halil,

    Thank you for taking the time to share your experience with us here. We can understand how these fees can add up for you, and we certainly value your business and hope to retain you as a customer. But we also believe in the value of the products and services we provide, and we hope you appreciate the value of our service in terms of customer experience, convenience, and speed.

    We recognize that there may be lower interest rates options in the market, but we add the most value by maximizing speed and convenience so that you can get the funding in your account in as little as 72 hours (versus up to 3-4 weeks through traditional lenders) and reinvesting back into our products and processes. Of course, we only want what is best for your business, and we hope you will consider letting Biz2Credit assist with your financing needs again in the future.

    Biz2Credit.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Feb. 11, 2022

    Biz2Credit has made communications and reminders down to a well-oiled machine. I am the president of a small business and did the first PPP loan with my local community bank. They did well, but it took a while to finish the paperwork and get everything submitted for forgiveness (I know this is also due to the fact that the PPP loan had just been created).

    Needless to say, I read an article in the NY Times about Biz2Credit and how helpful and at the forefront they were with these loans. Well I am most certainly impressed! Their website was very clear and detailed, with Need Help and Contacts clearly shown throughout every step of the way if I needed any clarifications or help. Thankfully I didn't because everything was very thoroughly explained and noted. We received our PPP Loan in record time! They also sent several reminders for submitting our forgiveness application, and they also sent a follow-up email reminding me that their representatives would review the application before sending it to the SBA for processing. We received the forgiveness approval within a few short weeks. I highly recommend this business!!!!

    Biz2Credit response

    Hi Nicolette,

    Thank you for taking the time to give our company a positive review. We are thrilled to hear you had a positive experience using our platform. To improve as a company, we take our customers' feedback very seriously.

    Considering your positive experience with Biz2Credit, we would love to feature your story and highlight your business's success on our company's page. Please send us an email to info@biz2credit.com so we can discuss the next steps. We look forward to hearing back from you as we look forward to working with you again in the future.

    Biz2Credit

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 3, 2023

    I contacted the business for business loan, but decided not to proceed with them due to the extremely high interest rate and fee. The company then gave my tax return, contact information to other companies without my permission and call and email me day and night. It is a harassment.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 10, 2022

    I have had multiple merchant advance loans with Biz2Credit. Each of which has been paid off in full. Most recently, during this holiday season, business was slow in December. My payments got behind. I was behind approximately $742. Biz2Credit sent UCC letters to individuals who I no longer did business with asking them if they owed me any money, and if they did, to send the money to Biz2Credit. My services are offered on a flat fee basis so I don't have any genuine "receivables."

    As such, Biz2Credit was simply sending letters to old clients who I could potentially do business with again and advising them of the arrears, potentially harming any future business I could do with said parties. I tried to explain this to my account representative and he said, "Well you've done business with them in the past so we are allowed to send them a letter." This statement was incorrect based on the contract. They are allowed to send letters out to people who owe me money, i.e. accounts receivable. They had no list of anyone who owed me money so they sent letters out to old clients and damaged my business and any potential for me to work with those parties again.

    They then sent a letter to my merchant Square and had all transactions held. I agreed to send letter requesting that Square turn over $800 directly to them. The language on their letter said that they wanted the full balance in my Square account. The full loan balance was $5400. The balance in my Square account that was on hold was over $8k. They wouldn't be entitled to the full amount in my account. However, they requested the full balance and have prevented any transactions from being deposited into my business account for over two weeks.

    They have tried to get paid more than they are actually owed from my merchant. They have sent letters to individuals and businesses who do not owe me money and interfered with any potential business relationship I could have with them. When you call the New York office you are transferred to call centers offshore. In response to the UCC letter, there is one individual, Christina **, who is US based, who you can speak with but she doesn't know anything about any files and transfers you back to the offshore team who initiated the fraudulent request for the overage.

    They are fine if you need a quick loan and you are maybe a restaurant or a business with regular daily transactions. If you are a professional service-based business, RUN. They do not understand how you operate, you will not understand the thick accents of anyone you speak with on the offshore team when an issue may arise, they will not take the time to understand the nature of your business or work with you on a resolution, and you will end up with compounded issues. All of the funds in my account are behind held because I was 9 days ($742) behind. The funds are in the Square account to pay and resolve the matter but cannot be released to even pay them BECAUSE OF BIZ2CREDIT. Do not do business with this offshore company unless you absolutely have to. It could make matters worse for your business. My business will likely close before the end of the year because of how they do business. Proceed with extreme caution.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Nov. 28, 2022

    Great company with great customer service support. Everything that I requested was done fast and accurate with step by step support. Great company to do business with. Don't look any further. This is it!

    Biz2Credit response

    Hi Daniel! So glad to hear about your great experience with our support team and of course being able to save time and money. Here at Biz2Credit that is the experience we strive to provide our clients everyday. Thank you for your encouraging words and please do not hesitate to reach back out when you are in need of further assistance with your business. Have a wonderful holiday season!

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Sept. 21, 2022

    We are a small restaurant trying to make it through our first year. We’ve had rough luck with Covid and a couple serious health issues. We’ve had nothing but great reviews but haven’t had time to build up operating capital. Biz2Credit helped us with funding to keep us afloat with an interest rate and payback terms far better than what other similar companies were offering. Highly recommended for small businesses that need help. It’s tough as hell to survive. Great to know there’s a company that will work with us without much history on our end.

    Biz2Credit response

    Hello,

    Thank you for sharing your experience with us here! Reviews like yours are the reason why we do what we do. We're glad that we were able to meet your expectations.

    5 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Sept. 11, 2022

    I’ve had a fantastic experience with Biz2Credit! If you are looking for a lender who can give you results in funding, this is the company. Fast funding and affordable repayment options for us small businesses. The staff is friendly, helpful, professional and responsive. Deepak ** and Neil ** are rockstars. I look forward to growing my business relationship with them.

    Biz2Credit response

    Hello Shari!

    Thank you for sharing your experience with us here! Reviews like yours are the reason why we do what we do. We're glad that we were able to meet your expectations.

    11 people found this review helpful
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    Biz2Credit Company Information

    Company Name:
    Biz2Credit
    Company Type:
    Private
    Year Founded:
    2007
    Address:
    1 Penn Plaza, Ste. 3101
    City:
    New York
    State/Province:
    NY
    Postal Code:
    10119
    Country:
    United States
    Website:
    www.biz2credit.com