SuperMoney

Biz2Credit

in Business Loans

Unaffiliated Visit Site

Biz2Credit

Unaffiliated

in Business Loans

SuperMoney Net Recommendation Score -100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly not recommended

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4 users don't recommend
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Overview

Where does Biz2Credit do business?

Biz2Credit is  a lending platform based in New York, NY. It was founded in 2007 and offers access to business loans in 50 states (and Washington, DC).

What are Biz2Credit’s rates?

Biz2Credit offers business loans with APRs starting from 5.99% and up to 7.5%.

Does Biz2Credit charge an origination fee?

Yes, Biz2Credit charges a loan origination fee of 250% of the loan amount. Biz2Credit deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow. 

What limitations does Biz2Credit set on the purpose of the loan?

Some lenders only provide business loans for certain purposes. Biz2Credit offers considers loan applications for the following reasons:

  • Equipment purchase
  • New location
  • Product or service expansion
  • Working capital
  • Business debt refinance

What types of business loans does Biz2Credit offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Biz2Credit provides access to the following business loan types:

Does Biz2Credit charge a late fee?

No, Biz2Credit will not charge you a late fee. Yes, Biz2Credit charges borrowers with a late payment fee.

Does Biz2Credit charge prepayment fees?

Yes, Biz2Credit charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from Biz2Credit?

Loan amounts start at $5,000 and go up to $1,000,000.

What do you need to qualify for a loan with Biz2Credit?

Applicants with a credit score of at least 560 can apply for a loan via Biz2Credit.

Biz2Credit does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Biz2Credit. Its rates and terms fall within the limits of The Military Lending Act.

U.S. citizens, permanent residents, and non-residents can all apply for a Biz2Credit loan.

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Contact

  • Headquarters
  • 462 Seventh Avenue, 20th Floor
    New York, NY USA
  • Visit Site

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee
250%
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Credit Score Range
560 - 850
850 300 560
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Loan Amount
$5K - $1M
$25 $1M+
APR
5.99% - 7.5%
0% 100%+

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