Biz2Credit Business Loans

Biz2Credit Business Loans Review

Biz2Credit is a business financing offering by Biz2Credit Inc, based in New York, NY. Founded in 2007, Biz2Credit Inc offers access to small business loans in 50 states (and Washington, DC).

Biz2Credit FAQ

What are Biz2Credit’s rates?

Biz2Credit offers a fixed APR business financing product that ranges from 5.99% APR up to 30% APR.

Does Biz2Credit charge an origination fee?

Yes, Biz2Credit charges a loan origination fee of $250 to $400

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

Biz2Credit considers business loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• New Location
• Payroll
• Product or Service Expansion
• Technology Investment
• Working capital

What types of small business loans does Biz2Credit offer?

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

• Unsecured Term Business Loans
• Secured Term Business Loans
• Lines of Credit
• SBA Loans
• Merchant Cash Advances
• Commercial Real Estate Loans
• ACH Cash Flow Loans
• Bridge Loans

Does Biz2Credit charge a late fee?

Yes, Biz2Credit charges borrowers with a late payment fee of up to $25.

Does Biz2Credit charge prepayment fees?

No, Biz2Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

How much can you borrow from Biz2Credit?

Business loan amounts start at $25,000 and go up to $6,000,000.

What do you need to qualify for Biz2Credit Business Loans?

Biz2Credit Business Loans requires companies to be in business for at least 24 months. Businesses must have a minimum annual revenue of $100,000 to be considered.

Applicants with a credit score of at least 560 and up to 670 may be eligible for Biz2Credit Business Loans.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Biz2Credit Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Biz2Credit Business Loans.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity

What is the estimated funding time for a business loan via Biz2Credit?

Biz2Credit can approve (or deny) a business loan application within 24 hours and fund small business loans within 1 business day of approval.

Does Biz2Credit Business Loans report your account activity to credit bureaus?

Yes, Biz2Credit Business Loans reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.