Strongly not recommended
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Where does Bizfi do business?
Bizfi is based in New York, NY. It was founded in 2005 and offers access to business loans in 49 states (and Washington, DC)..
Does Bizfi charge an origination fee?
Yes, Bizfi charges a loan origination fee.
What limitations does Bizfi set on the purpose of the loan?
Some lenders only provide business loans for certain purposes. Bizfi offers considers loan applications for the following reasons:
- Equipment purchase
- New location
- Product or service expansion
- Working capital
What types of business loans does Bizfi offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Bizfi provides access to the following business loan types:
- SBA loans
- Invoice financing
Does Bizfi charge a late fee?
No, Bizfi will not charge you a late fee. Yes, Bizfi charges borrowers with a late payment fee.
Does Bizfi charge prepayment fees?
Yes, Bizfi 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 Bizfi?
Loan amounts start at $3,000 and go up to $500,000.
What is the maximum loan term you can get with Bizfi?
Bizfi offers business loans with a maximum term of 120 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Bizfi?
Applicants with a credit score of at least 300 can apply for a loan via Bizfi.
Bizfi requires businesses to be in business for at least 3 months in business. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Bizfi. Its rates and terms fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
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460 Park Avenue South, 10th Floor
New York, NY 10016 USA
- Visit Site
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- Active Duty Military
- Military Dependent
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- SBA Loan
- Line Of Credit
- Invoice Financing
- Equipment Purchase
- Lease Improvements
- New Location
- Product or Service Expansion
- Working Capital