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Biz2Credit is focused on funding what’s next for small business. We leverage data, cash flow insights, and the latest technology to give business owners an automated small business funding platform. Biz2Credit has provided over $3 billion in small business loans and financing. With over 350 employees globally, our team – made up of top-notch engineers, marketers and data scientists – is building the next generation in business lending solutions.
Overall Satisfaction Rating
- 5 stars28
- 4 stars6
- 3 stars6
- 2 stars6
- 1 stars140
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I am reading the horror stories and I am in the same situation - got approved by SBA 03/14/2021, e-tran was issued, today is 05/04/2021 - no funding, numerous emails with the same answer to provide something that was provided several times before. We need this funding to make our payroll. Someone suggested class action lawsuit, I think it’s a great idea. In these difficult times they should make things easier. Instead they frustrate people, get approvals from SBA and don’t fund businesses that are in desperate need of this funds. They need to be investigated and prosecuted for negligence. I repeatedly asked them to cancel my loan and release the e-tran number so I can apply with another lender - no response. FRAUD!!
Where do I start? I have been approved for first round of PPP and signed the documents 04/06/2021. Today is 05/03/2021. Still nothing. I emailed them millions times but nothing. Finally they send me that I have to connect my bank account through Yodlee. Come on. For the sake of getting my loan, I connected my bank account. Still NOTHINGGG. SOMEONE NEEDS TO STOP THEM FROM OPERATING. I wish I used different bank to apply for PPP when you need the funds to support your struggling business and family. They don't care about the small businesses and their families behind these businesses.
This has been by far the most frustrating experience! I had my first draw with Biz2Credit without any issues. I applied for a 2nd draw with the same company. After applying on April 10th, I was informed via email that I was approved, given a loan number, submitted my bank account information for deposit, and signed the required 2483 form. After doing that, the application was stuck in the approved (pending re-verification stage) for weeks.
I have been emailing both the customer service email as well as my funding specialist Tommy Q. After a few weeks of no response, I find that my application was withdrawn without warning even though I submitted everything that was required of me. If there were any issues, I would've been happy to correct it. If they needed more documentation of anything, I could've sent it in no problem. However, there was absolutely no contact until the application was withdrawn.
Lastly, they said that I was free to apply with other lenders, but when I look on the CAWEB system, it still says that it is active un-disbursed. I submitted many requests for email into why all of this happened, but still no response. This is money that was desperately needed for my business and yet this is how they treated small businesses who need the most help. I warn anyone who goes with this company that you may experience the same thing I did or worse. It is so sad to see lenders like this who are preventing people from getting the funding they need.
So this company is impossible. I applied in 01/21 for 2.0 ppp loan that I qualified for. Then I asked them to withdraw the application as I thought I was approved by another lender. They stated they withdrew. I have been trying for 3 months to get my second draw. All because Biz2Credit said they withdrew and they did not from the sba. Not only that but you cannot get a live person to respond to you. I think I am going to lose out on money that is desperately needed to continue to operate all because of this company. Do your homework. Beware.
We applied for PPP thru them six months back, we even got approved by SBA but this company kept on asking to download all the tax papers, we sent everything in very timely manner but this people never worked on it and there is very poor communication skill they have, you can not call them and they never call you. It is only thru email, every time you get an email asking for the same document from different people. Ultimately we got an email informing us that SBA DENIED OUR REQUEST, WHICH IS NOT TRUE, WE GOT IT APPROVED BY ANOTHER LENDER. I am not sure if they are legitimate, if they are then they have to reorganized their set up, very poorly handle. I THINK THEY ARE INTERESED IN A BIG COMPANIES, IF YOU ARE A SMALL BUSINESS THEY ARE NOT INTERESTED IN YOU.
Don’t paid Biz2Credit/Itria Ventures to use their system if you are not a CPA, they will steal your money. They have this subscription, called the premium subscription, it cost 1,500.00 and only after 2 months of use they denied me the right to process application for PPP. Because they claim that they want to help the SBA to prevent fraud. So what this mean if you are not a CPA, every one else is a crook? I have been an EA in good standing for over 20 years and I have never been treated like garbage by so an uncrumples bank. If you have been abused and robed, we should find the way to sue these crooks.
In my opinion the AICPA is working with Biz2Credit/Itria Ventures so CPAs are the only ones allowed to process PPP applications. This is discrimination and racketeering from the Biz2Credit/Itria Ventures by allowing only CPAs. They signed hundreds of accountants and now they are closing the accounts and not refunding anyone. In my opinion they should be investigated by the Justice department, the SBA and the banking department for racketeering. What they are doing now is dishonest and fraudulent business dealings.
I applied for a PPP loan and was told I was approved. Since then I have received absolutely no communication. I as other on this feed, have emailed multiple times and received nothing!!! I go to the Dashboard today and there is no evidence that I applied. It's as if my information was completed wiped out. Where are the documents I uploaded? Can anyone tell me anything? Horrible service, communication, follow-through...
I have been trying to apply for the loan for three months and they have not been doing it! I emailed them. No response. They have no phone number. I went down the main building and they wouldn't let me in! They are stealing our money! I tried applying someplace else and I can't because Biz2credit is holding it hostage! The other company that I tried applying totally said I was approved ! What is happening!
I don't even know where to start. It has honestly become almost a traumatic experience working with BIZ2CREDIT. I have been a part of a forum where some have even had to close down permanently after being in limbo. Here is a summary of my experiences... 1.) 1st round PPP successfully funded 2/2/21. 2.) Application submitted with ALL documents for 2nd round. 3.) Signed form 2483 on April 5th.
4.) Over a week later, I was informed I needed to connect my bank account to verify they will not return the funds if deposited. (Even though I used the exact same banking information as 1st round.) This turned into quite an ordeal. First off, on Yodlee, my bank wasn't on their webpage as a choice for verification, even though on their master list of accepted banks it was listed. I was informed that I needed to enter it in manually, although the option to do that was no longer available.
5.) Finally, they said to verify through Decision Logic, but sent me a link that was for the wrong division of my bank. I informed them that being a sole proprietor, my account was a personal account. Then I received an email where an employee straight out LIED to me. He said, "The link I sent you is functioning for both personal and business accounts." The issue was that they were sending me directly to the business login portal, and I had repeatedly told numerous individuals that this was wrong. (AxosBank.com/business)
I called Decision Logic and spoke to their client support department directly. They said that not only were they sending me to the wrong portal, but the employee from Decision Logic looked further into it and saw that many others had also had the same issue, and were not able to verify. She went on to tell me that as far as she could see, no one from BIZ2CREDIT had contacted them about this, and I was the first to bring it to their attention. I was then told the steps for BIZ2CREDIT to take to correct this. I passed this information on and continued to receive random emails telling me to upload documents I already had done...etc.
Finally weeks later I was asked for my updated phone number, repeatedly again, and I had replied within minutes of receiving their request. A few days later I received a phone call, and I explained what I needed him to do, (send me a link to verify account through axosbank.com/personal, not AxosBank.com/business). He did that and I was logged in and verified within minutes. (Had they done this 3 weeks earlier it would have saved everyone the wasted time.)
6.) After my bank was verified on Friday 23rd of April, I was told to expect closing documents. 7.) Monday 4/26 After I emailed for an update, I logged into my account and it kept saying to upload documents again that I already had uploaded a month previously, almost. 8.) Tuesday 4/27 I received another request for me to go through my bank statements and highlight which items were expenses paid for PPP forgiveness. 9.) Replied with requested statements highlighted approx 2 hrs later.
10.) Wednesday 4/28 I logged into my account and my application is now missing and there is a NEW BUTTON asking if I WANTED TO APPLY FOR ROUND 2!!! Even though my Caweb still shows my Etran number as active undisbursed. So I'm praying it is a glitch. I will update as soon as I know. All of this occurred while I sent daily emails asking for updates and never received replies except when they were seeming to stall and sent emails that were repeats of previous emails and already done. The first round was flawless, so I am beyond upset about how the 2nd round has gone. I hate writing online business reviews as I know the damage that can occur from them, but I owe it to fellow small business owners to make them aware.
Every negative review here is spot on!!! I applied for my first PPP draw in January. I had questions, emailed them several times and never got a response. Fortunately after a few weeks, I received my PPP. I applied for my second draw a couple weeks ago and am stuck in this "More Information Needed" limbo. They don't respond to emails and if you have any questions or concerns, you are on your own. Getting your money will be 50/50 odds....Do not apply with Biz2Credit!
Biz2Credit Company Information
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- 1 Penn Plaza, 45th Floor
- New York
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- United States
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