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Biz2Credit Reviews

8.5

bestfor-icon Flexible Terms and Quick Funding

willw
Written by Will Weisenfeld

About Biz2Credit | Read More

8.2

LS Score

8.3

Credibility

9.2

Support

8.3

Accessibility

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Opening Hours Opening Hours drop-down-btn
Mon - Fri 9:00 AM - 6:00 PM ET
Sat/Sun Closed
Contact Information Contact Information drop-down-btn
  • info@biz2credit.com
  • (800) 200-5678
  • 1 Penn Plaza, 49th Floor, New York, NY 10119
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Biz2Credit Business Loans Review

Biz2Credit understands the need for flexibility and the challenges small businesses and entrepreneurs face when funding and growing their businesses. Therefore, Biz2Credit offers a variety of financing products, including term loans, revenue-based financing, Commercial Real Estate (CRE) loans, and Employee Retention Tax Credit (ERTC) loans. Biz2Credit also works with a network of participating lenders that may offer access to additional financing products.

Biz2Credit offers tools and calculators for business owners to estimate loan terms and repayment options. A great tool they have for businessowners is BizAnalyzer by Biz2Credit; a virual assistant tool that tracks your business metrics, rates its financial health, and gives you tips to improve. When you create an account with Biz2Credit, you get access to:

  • A dynamic dashboard
  • Automated analysis of financials
  • Loan calculators
  • BizAnalyzer by Biz2Credit
  • Secure document storage

Biz2Credit Business Loans Highlight

575

Min Credit Score

Min 10%

APR. Fixed Rate

$25K-$6M

Loan Amount

12-36 months

Repayment terms

N/A

Soft Credit Pull

Marketplace

Lender Type

Dependent upon commercial financing type

Other Fees

$250-$400

Origination Fee

N/A

Prepayment Fee

72 Hours

Funding Time

$250K

Annual Revenue

12+ Months

Time in Business

Pros & Cons

drop-down-btn
  • con-icon Funding possible within 24-72 hours of a signed and approved contract.
  • con-icon Variety of financing options available from Biz2Credit and other participating lenders.
  • con-icon Free online application and free use of business tools.
  • con-icon Dedicated support from financing experts.
  • con-icon May be an expensive option due to closing fees.
  • con-icon Financing options may differ from state-to-state.
  • con-icon No live chat option on their website.
  • con-icon Undisclosed interest rates and fees

Business Loan Types

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  • Business Term Loan
  • Working Capital Loans
  • Term loans
  • Short-Term Business Loan
  • Merchant Cash Advances
  • Commercial Real Estate Loans
View Rates

Biz2Credit Business Loans Terms & Requirements

Terms and requirements can vary depending on the loan size and type. Most borrowers don’t need the best credit score, but they need an annual revenue greater than $250k and have been in business for at least 12 months (6 months for revenue-based financing). Of course, a better credit score and a business having been open for 2 years or longer will net applicants better terms on loan products. Bankruptcies, foreclosures, and tax liens may disqualify borrowers. Their loans can be costly due to fees but are quickly available. Biz2Credit offers unsecured and collateralized business loans.

Biz2Credit offers a variety of business lending products, including traditional term loans, working capital/revenue-based financing, CRE, and ERTC loans.  The same and other financing products (subject to availability and eligibility) may be offered through their network of participating lenders, including SBA loans, business lines of credit, equipment financing, business acquisition loans, and refinancing for small business owners.

 *Not all financing products from Biz2Credit are classified as loans.

Term Loans

A term loan is a great option for businesses with good business credit. Monthly repayments may be higher than other loans for the term, but the total financing cost is lower overall. Businesses can use term loans for various needs, including freeing up operational cash flow. For qualifying businesses, this may be a preferable option as potential tax benefits might be available.

To qualify for a term loan from Biz2Credit, a business must be operational for at least 18 months, have a credit score of 650+, and have an annual revenue of at least $250k.

  • $25k to $1M in funds
  • Payment plans range from 12 – 36 months

Revenue Based Financing

Also known as a merchant cash advance, this flexible financing option is best for businesses with fluctuating cash flow, as repayment terms are based on a percentage of monthly revenues. 

To qualify for revenue-based financing from Biz2Credit, a business must have been operational for at least 6 months, have a credit score of 575+, and have an annual revenue of at least $250k.

  • Up to $2,000,000 in funding
  • Repayment terms: Daily, weekly, bi-weekly auto ACH payments

Commercial Real Estate (CRE) Loans

CRE loans are great for businesses that need to secure funding for big projects. Businesses can leverage commercial real estate equity to reinvest capital in their next opportunity. Some common reasons to seek a CRE loan include business growth and/or acquisition, renovation, and business loan refinancing.

To qualify for a CRE loan from Biz2Credit, a business must be operational for at least 18 months, have a credit score of 650+, have an annual revenue of at least $250k, and have equity in commercial property. If your business qualifies, you can get:

  • Up to $6M in funding
  • Terms ranging from 12-36 months

Employee Retention Tax Credit (ERTC) Loans

ERTC loans are great for businesses with pending IRS credit. Businesses can use these access funds upfront instead of waiting on the IRS for a range of needs for continued growth.

To qualify for an ERTC loan, a business must be operational since February 2020, have a credit score of 650+, and have a pending IRS credit of $100k or above.

  • Up to 85% of IRS credit
  • Interest-only payments for up to 12 months.

Although the qualifications are flexible, some businesses may be denied funding. If this is the case, Biz2Credit offers feedback so businesses can work on improving their financial health and creditworthiness, which improves their chances of qualifying for a loan in the future.

How to Apply

The Biz2Credit application process is simple and intuitive. To submit an application, you need to create an account profile. The application takes just minutes to complete, especially if you have the right documentation at the ready. Keep reading to see the required information section.

In the meantime, to apply for a business loan with Biz2Credit, follow the link on this page to fill out the start of a short questionnaire, click “Get Started,” and follow these steps:

  1. Create an account — Fill in your name, email, and phone, create a password, and verify your email. You’ll also need to provide some basic business information.  
  2. Prequalify — Once you set up an account, you may receive a prequalification estimate of the amount of Revenue-Based Financing your business could get.
  3. Submit application — You can start an application for funding from your Biz2Credit account. Provide the necessary business information and describe your business structure. 
  4. Upload financial statements — Submit financial documentation validating your application, including recent business bank statements and/or transaction records, and a copy of a valid government-issued photo ID for all owners in the business.
  5. Connect with a funding specialist — You should hear back from a loan specialist within hours of submitting your application. They may collect more information or ask you to submit extra documentation. They’ll also help you ensure you’re applying for the right financing product.
  6. Get approved and close an offer — Biz2Credit can approve loans in as fast as 24 hours, pending the submission of proper documentation with the application. You will receive updates on your application status on the online dashboard.
  7. Receive funding — Your business can be funded within 72 hours after accepting and signing a valid financing offer. 
Biz2Credit_LP

Go to Biz2Credit's website, complete the form, and click "Get Started."

Biz2Credit_app_scrn_2

Fill out the short questionnaire to complete account creation.

Qualification Requirements

Biz2Credit examines 3 main metrics to determine loan eligibility through its subsidiary Itria Ventures, LLC. They usually take into consideration factors such as annual revenue, credit score, and age of the business. Note that bankruptcies, foreclosures, and tax liens may potentially disqualify borrowers. If Biz2Credit is unable to offer financing, they may connect businesses with other lending partners whos financing requirements may differ. 

To qualify for a commercial financing product from Biz2Credit a business should:

  • Have a minimum credit score of 575
  • Be operational for at least 6 months for revenue-based financing and 12 months for loan products.
  • Have a minimum annual revenue of at least $250,000.

Note that Biz2Credit qualifies loans based on a business’s overall performance, so exceptions may be applicable.

Required Information

Biz2Credit requires personal and business information, including but not limited to:

  • Name
  • Address
  • Contact details
  • Social Security Number and/or Employee Identification Number
  • Financial statements
  • Description of ownership structure
  • Annual revenue
  • Time in business
  • A copy of a valid government-issued photo ID is required for all with business ownership.

Required Business Documents

Biz2Credit only requires business bank statements in order to proceed with the initial underwriting process for a term loan or revenue-based financing. Other business and financial documentation you may need to provide include:

  • Recent bank statements or transaction records
  • Business tax returns (from the past 2-3 years)
  • Revenue reports
  • P&L statements
  • Relevant licenses and/or permits
  • Copy of lease agreement (if applicable)

Application Steps & Time Frames

Biz2Credit has designed its online platform and process to be smooth, streamlined, and efficient. The application steps and the estimated time it takes to complete each step are as follows: 

  1. Create an account — 5 minutes
  2. Prequalification — Automatic upon account creation. Prequalification is not a financial approval; it is just an estimate.
  3. Application submission — 7 minutes
  4. Gathering and submitting validating financial documents — Less than 30 minutes if you are organized.
  5. Connect to a funding specialist — (Optional) within 24 hours
  6. Approval — Approx. 24 hours after application submission
  7. Receive funding — Up to 72 hours of signed contract.

Additional Considerations

It may take additional preparation time if your documents are not readily available or need to be updated.

If you choose or need to consult with a funding specialist, depending on the specialist’s availability and the length of the consultation, this could add some time.

Biz2Credit typically takes a few hours to a few days to review your application and present you with loan options. This review time varies based on the complexity of the application and the completeness of documentation.

Remember that applying for a business loan with Biz2Credit can be completed relatively quickly, especially if you have all the necessary documents prepared in advance. 

State Availability

Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming

Not Available - Nevada, North Dakota, Rhode Island, South Dakota, Vermont

willw
Written by Will Weisenfeld

Will is an expatriate from Arizona, USA, who studied Political Science at Arizona State University. As a passionate personal finance enthusiast, he combines his expertise with a keen interest in current events to create engaging and insightful financial content. Outside of his professional pursuits, Will enjoys the nostalgia of old-school video games, adding a unique touch to his multifaceted profile.

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FAQ’s

What loan options are available through Biz2Credit?

Biz2Credit offers revenue-based financing, term loans, CRE Loans, and ERTC Loans. Additionally, they may offer other loan products through their network of 3rd party lender partners.

How quickly is financing available?

If applicants provide the necessary documentation and information, they can receive approval in as little as 24 hours and funding within 24-72 hours of a signed and approved contract.

How much financing is available?

Biz2Credit can arrange funds between the amounts $25,000 to $6,000,000 depending on the loan type. Typically, available loans range between 75% and 125% of your monthly business deposits.

Are Biz2Credit loan options available in all states?

Biz2Credit financial loan products may be limited in Nevada, North Dakota, Rhode Island, South Dakota, and Vermont.

Customer Support

On its website, Biz2Credit has a Contact Us form, a phone number, and a customer service email you can use. The company is based in New York, and they have standard business hours from 9 AM to 6 P EST, Monday through Friday.

Biz2Credit is incredibly responsive through all points of contact listed on its website. In most cases, a specialist will reach out to you within 24 hours. Currently, there is no LiveChat option.

Privacy & Security

Biz2Credit is a reputable business with 4.6 out of 5 stars on Trustpilot and over 15,000 customer reviews. They have a slightly lower rating on BBB of a B, but customer reviews give them 4.52/5 stars.

Most positive reviews indicate quick funding, excellent customer service, and a straightforward user experience. Others praise the company for its extensive collection of free educational resources, which are available on the website. Some negative reviews mention a confusing application process.

Both the website and application are secure. Biz2Credit has a team of software engineers, quality analysts, and security experts who regularly monitor the platform’s security. They also adhere to standard safety and privacy criteria, which helps keep consumer data confidential.

Biz2Credit is also transparent about gathering, using, and disclosing consumer information. The company requires users to give sharing permission with its third-party business partners and lenders to help find the best financing solution.

Overall, this company does take user security and privacy seriously, whether you’re borrowing directly from them or not.

In Conclusion

Ultimately, Biz2Credit is an excellent option for businesses and entrepreneurs who want different loan options ranging from $25,000 to $6,000,000.

They directly offer term loans, revenue-based financing, commercial real estate (CRE) loans, and employee retention tax credit (ERTC) loans with competitive rates and transparent pricing.

Additionally, they can offer a range of financing products through their extended network of participating lenders. With a variety of tools to use and a helpful support team, businesses can seize opportunities.

Brand Disclaimer

Biz2Credit Disclosure: By accessing or applying for Business Finance Services from Biz2Credit relating to your potential business funding or other business financing products, you expressly accept and agree to both our Terms of Service and the Business Finance Services Terms & Conditions. The rates and terms and conditions here in are not a commitment or guaranty by Biz2Credit Inc. or any of its affiliates to provide financing, and are subject to change at any time. Not valid in all states. All products and services are subject to eligibility and other conditions and restrictions. Biz2Credit Inc. is not a lender. All terms and conditions and credit decisions are at the sole discretion of the lender. Offered for commercial uses to businesses only. Other terms, conditions, fees and restrictions may apply.

You acknowledge that you do not own the account you use to access the Service, nor do you possess any rights of access or rights to data stored by or on behalf of Biz2Credit on Biz2Credit servers. You agree that Biz2Credit has the absolute right to manage, regulate, control, modify and/or eliminate any such data as it sees fit in its sole discretion, in any general or specific case, and that Biz2Credit will have no liability to you based on its exercise of such right. All data on Biz2Credit’s servers are subject to deletion, alteration or transfer. Notwithstanding any value attributed to such data by you or any third party, you understand and agree that any data, account history and account content residing on Biz2Credit’s servers, may be deleted, altered, moved or transferred at any time for any reason in Biz2Credit’s sole discretion, with or without notice and with no liability of any kind. Biz2Credit does not provide or guarantee, and expressly disclaims, any value, cash or otherwise, attributed to any data residing on Biz2Credit’s servers.