Biz2Credit is an online business lender and marketplace. The company started in 2007. This makes it one of the more experienced alternative business lending companies. In this Biz2Credit review, we will go over what Biz2Credit offers borrowers. Then, we will look at their pricing, terms, and minimum requirements. Lastly, we will go over the factors you need to keep in mind with online business lending platforms.
Biz2Credit Special Qualities & Features
Finding and applying for business loans takes a long time. But Biz2Credit is particularly fast with their 4-minutes application process. Biz2Credit offers extra convenience with its four-minute prequalification process. Once you finish the application, you should hear back from them within 24 hours.
After you are approved, Biz2Credit sends your funds within 72 hours.
Biz2Credit is a trusted lender according to previous borrowers. They have a 4.9/5 rating on Trustpilot and
Biz2Credit Review: Pricing & Terms
|Lender||Minimum Revenue||Time In Business||Minimum Credit||Next Steps|
|Varies||Varies||560+||See if you qualify|
As a diverse business lender, Biz2Credit can set you up with a wide range of loans. The many business loans on the platform carry dramatically different prices and terms.
The loan types you can find on Biz2Credit are:
- Business term loans
- Business lines of credit
- Merchant cash advances
- Commercial real estate loans
- SBA loans
- Working capital loans
As usual, you can expect to get the best rates with SBA loans. Merchant cash advances are a fast loan option, but they end up costing the most in most circumstances. Biz2Credit charges an origination fee and high interest rates. They provide easy-access unsecured business loans. But this level of risk (from their point of view) requires them to charge higher rates.
The repayment terms for Biz2Credit loans also vary. Except for SBA loans, the loans you’ll find on Biz2Credit last anywhere from 3 to 36 months. Individual APRs vary more widely than many other lenders. They don’t list their exact requirements, but you can expect lower rates if you bring a higher credit score, more experience, and higher revenues to the table.
Do I Qualify For Biz2Credit?
It is very easy to qualify for Biz2Credit. There are no stated time-in-business or revenue requirements. Also, if your credit score is 560 or higher, you should qualify for at least one of their loans.
Biz2Credit is available in all 50 US states. But some of their loan options are limited to only some of the states.
Factors To Keep In Mind With Biz2Credit
Potentially Higher Rates
Biz2Credit can offer very reasonable rates on par with other alternative lenders. But if you don’t have a great credit score, you can expect higher rates that you’ll have more trouble paying. The riskier you appear to lenders, the higher the rates they’ll offer you.
The Last Word On Biz2Credit
Biz2Credit is an older and more experienced online business loan platform. They are accredited with the Better Business Bureau and have a strong reputation for their customer service.
So, if you’re looking for business lenders appropriate for your business, you can give Biz2Credit a try.