Whether you have big goals for your business or recently hit a rough patch and need capital to stay afloat, Biz2Credit may be able to help you. The lending platform provides capital to business owners without all the hassle. Borrowers can capitalize on Biz2Credit’s streamlined loan application process. Clients can get their loans approved in one business day. After receiving approval, it won’t take long before you receive the proceeds. The company provides quick turnaround times for its loans, with a variety of funding options available in as little as 72 hours. The company helps business owners obtain SBA loans, lines of credit, lump sum payments, and other types of loans.
What is Biz2Credit?
Biz2Credit is an online lender that has been catering to small businesses since 2007. The lending platform prides itself on providing easily accessible funding options to companies in various industries.
Nexus Venture Partners backs Biz2Credit and has helped over 250,000 small business owners secure $7 billion in loans to date. Biz2Credit also boasts an excellent rating on review sites like Trustpilot and Consumer Affairs.
How Does Biz2Credit Work?
Biz2Credit features a streamlined process to take the stress out of securing financing for your small business. Here’s how it works:
- Step 1: Create Your Profile (Less than a minute)
- Step 2: Submit Your Application For Funding (About 4 minutes)
- Step 3: Connect With Your Funding Specialist (At any time)
- Step 4: Get Approved Fast (Within 72 hours)
Small business loans are available for the following entities (but not limited to):
- Accountants
- Contractors
- Doctors
- Franchisees
- Gas station owners
- Hotels owners
- Insurance agents
- Lawyers
- Liquor store operators
- Pharmacists
- Real estate agents
- Restaurant owners
Types Of Business Financing That Biz2Credit Offers
Biz2Credit offers three funding options for small businesses:
- Working Capital: Get funding between $25,000 and $2+ million. You can use the funds to purchase equipment and inventory, pay for one-time business expenses, hire employees, cover operational costs or expand your company—pretty much any business purpose. If approved, you could get funded in just 24 hours. Payments are based on business receipts, and business owners can select from daily, weekly, or bi-weekly payment plans.
- Term Loan: Get a term loan from $25,000 to $500,000 in as little as 72 hours to expand your business. Interest rates start at 7.99 percent for qualified businesses, and your business will have anywhere from 12 to 36 months to repay what you borrow.
- Commercial Real Estate: Use the equity from your commercial real estate to qualify for a loan between $250,000 and $6 million in 48 hours. Like term loans, repayment periods range from 12 to 36 months. But the minimum interest rate on these loans starts a bit higher at 10 percent.
There’s also a feature on Biz2Credit’s website exclusively for Certified Public Accountants: the CPA Business Funding Portal. This portal is currently used by thousands of CPAs to help their clients identify viable financing opportunities.
Business Financing Eligibility
Biz2Credit offers several loan types, with working capital loans having the most generous minimum requirements. If you’re interested in funding from Biz2Credit, here’s what you’ll need to qualify:
- Working Capital: usually, business owners can qualify with a credit score of 575 or higher, although those with lower scores may also qualify subject to other criteria, at least $100,000 in annual revenue and six months or more in business
- Term Loan: a credit score of 660 or higher, at least $250,000 in annual revenue, and 18 months or more in business
- Commercial Real Estate: a credit score of 660 or higher, at least $250,000 in annual revenue, 18 months or more in business, and ownership of a commercial property
Biz2Credit’s Loan Terms, Fees, and Discounts
Biz2Credit assesses your credit history to determine what interest rate you’ll get. The speed at which your loan is funded could also determine how much the lender charges in interest.
It’s free to apply for funding, but the origination fee and closing costs apply if you get approved for a loan and decide to move forward with the transaction.
Is Biz2Credit a Good Company to Get a Business Loan From?
Yes! Not only does Biz2Credit pride itself on simplifying the funding process for small business owners, but it also goes the extra mile to provide valuable resources. You’ll find a comprehensive knowledge center and business toolkit on its website that features eBooks, financial calculators, research reports and a tool called BizAnalyzer Virtual CFO that assesses your company’s financial health.
What are Biz2Credit Reviews Saying?
Biz2Credit clients have shared their thoughts about the company’s customer service and loan application process. Browsing through reviews will give you more information and help determine if Biz2Credit is right for you. Here are some of the top Biz 2 Credit reviews:
- I was in a financial crunch and couldn’t make payroll for my business. The team at Biz2Credit came to the rescue and was extremely helpful during the entire loan application process. Thank you! —Richard P.
- I was able to buy the equipment I needed for my small business, thanks to Biz2Credit. I’m forever grateful for the opportunity and will see the company again for start-up funding and future loans. —Jason E.
- My experience with Biz2Credit was amazing. My account specialist stayed in constant contact with me about what was going on with my application and important deadlines. He was also very knowledgeable and helpful. I would definitely recommend this company to others who are looking to grow their business. —Harshil P.
- I’d definitely recommend Biz2Credit if you need quick funding. I’ve used them twice to get the money I needed for my business, and they were very fast, efficient and timely. —Khurram S.
How to Get Started with Biz2Credit
Navigate to the Biz2credit website to fill out a simple form to see if you qualify without affecting your credit score.
