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Biz2Credit small business loans review
Get connected banks and online lenders — with options for high-risk businesses.
finder.com’s rating: 3.7 / 5.0
★★★★★
Bottom line: Biz2Credit makes it easy you compare bank and nonbank financing offers, even if you’re in a high-risk industry. But it’s one of the few connection services that charges a fee at closing.
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Details
| Max. Amount | $250,000 |
|---|---|
| Loan Term | Up to 36 months |
| Min. Credit Score | 670 |
| APR | 8.99% to 36% |
| Requirements | Varies by lender; typically 2+ years in business; profitable; good personal credit history |
Pros
- Works with high-risk industries
- Works with bank and nonbank lenders
- Multiple funding options available
Cons
- Underwriting fee of $250 to $400
- Website isn’t transparent about rates
- 72-hour turnaround slower than direct online lenders
Biz2Credit accepting PPP applications at a limited capacity
Biz2Credit is still accepting applications for the Paycheck Protection Program (PPP) and will until the programs closes on May 31, 2021. But its partner SBA lender is prioritizing applications that have already been submitted. It also warns business owners that it typically takes between 12 and 14 days to process the application.
If you'd prefer to work with Biz2Credit, you can get started by clicking the Go to site button on this page. Or, consider another PPP lender.
Biz2Credit rates, fees and terms
Biz2Credit's partners offer term loans with rates from 8.99% to 36% APR. While there's no fee for using the service, most of its nonbank providers charge a fee of around $250 to $400 at closing. If you get connected with a bank, Biz2Credit charges an origination or closing fee based on the size of the loan.
You can borrow up to $250,000 with terms as long as 36 months. Use our calculator to see how much a term loan from this provider might cost.
Business loan calculator
See how much you'll pay
| Your loan |
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| Loan amount |
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| Loan terms (in years) |
| Interest rate |
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Fill out the form and click on “Calculate” to see your
estimated monthly payment.
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Based on your loan terms…
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This breaks down to…
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charged, with a total cost of $Compare business loans now
Biz2Credit merchant cash advances
In addition to term loans, you can find an advance on up to $250,000 of your business's future sales through Biz2Credit's partners. Instead of interest, they charge a flat fee that's wrapped into the balance of the loan. Typically you'll repay between 1.14 to 1.45 the amount you borrowed with a percentage of your daily receipts.
How Biz2Credit compares to other providers
Here's a snapshot of how this connection service compares to other business loans available online.
★★★★★
| Check eligibility |
|---|
Loan amount Up to $250,000 |
APR 8.99% to 36% |
Loan term Up to 36 months |
Requirements Varies by lender; typically 2+ years in business; profitable; good personal credit history |
★★★★★
| Find out more |
|---|
Loan amount $5,000 to $1,000,000 |
APR Fee based |
Loan term 3 to 60 months |
Requirements Steady flow of credit card sales, bad credit OK |
★★★★★
| Check eligibility |
|---|
Loan amount $500 to $5,000,000 |
APR Starting at 6% |
Loan term 12 to 300 months |
Requirements Operate business in US or Canada, have a business bank account, 560+ personal credit score |
Compare more business loans lenders
Biz2Credit reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | NR |
| BBB customer reviews | 4.36 out of 5 stars, based on 119 customer reviews |
| BBB customer complaints | 78 customer complaints |
| Trustpilot Score | 4.3 out of 5 stars, based on 2,898 customer reviews |
| Customer reviews verified as of | 22 February 2021 |
Biz2Credit gets many positive customer reviews. Customers are mostly pleased with the quality of service at Biz2Credit. Many are also happy with how fast and easy the process was, calling it “smooth” and “efficient.”
However, a handful complain of hidden costs and were turned off by some of its marketing tactics. And several reviewers also complain about the service around the Paycheck Protection Program.
How to qualify
Requirements vary depending on the lender, but you’re more likely to have more options if you meet the following criteria:
- At least two years in business
- Profitable
- Good credit score of at least 670
Biz2Credit offers products to borrowers with bad credit or in the startup phase. But you’re likely to land with rates on the higher end, and might not qualify for the largest loan amounts.
How it works
You can sign up for Biz2Credit's by filling out quick form on its website. After you've submitted the form, you can view your potential offers by logging in and visiting your dashboard. If any stand out to you, Biz2Credit will give you directions on how to complete the application.
It can take anywhere between 24 hours and two weeks to get your funds, depending on your loan type and lender. Most unsecured term loans come with monthly repayments, though some lenders might require weekly or even daily repayments.
Check in on your account regularly. If you have any questions or concerns, reach out to your lender's customer service team as soon as possible.
What sets it apart?
Biz2Credit is one of the few providers that works with businesses in industries that can struggle to qualify for financing — like insurance. Its network of bank and nonbank providers also means you can find financing with a fast turnaround or at a low cost. But it's one of the few connection services that charges a closing fee if you decide to go through with the loan.
Like most connection services, it's also not transparent about the rates its partners offer before you have to hand over personal information. If this is something you'd like to avoid, consider applying with a direct lender instead.
Is Biz2Credit legit?
Biz2Credit is not a lender, but it is a legitimate connection service. In fact, it’s more transparent about the range of costs that a business may face with one of its partners’ products than many other connection services — and even lenders.
It also takes steps to protect your information. Its website is verified by Entrust and encrypts and secures data to keep your information private. But by using a connection service, you’re agreeing to let Biz2Credit share your information with its partners — which you won’t be able to verify ahead of time.
See how Biz2Credit compares to other services with similar offers. Or, read about other options with our business loans guide.
Frequently asked questions
Answers to common questions about Biz2Credit's connection service.
When will I receive my funds?
You can get funded as soon as 72 hours after submitting an application. But it depends on your lender — banks tend to be slower than nonbank lenders.
Are there any restrictions on how I can use my funds?
Generally, no. You can typically use your business loan funds for any legitimate purpose, as long as it’s business-related.
See other top business loan options
Compare more online business loan providers to see how Biz2Credit stacks up to the competition.
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Business loan ratings
★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor
We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.
Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.
Review by
Rhys Subitch
rhys.subitch@finder.comRhys Subitch is the loans editor at Finder, guiding Americans toward smart borrowing decisions. With over half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info in the lending sphere. They make frequent appearances on Finder's YouTube channel to talk through loan topics that range from the very basics to the latest government assistance programs. Before specializing in lending, Rhys was a personal finance writer for Finder’s credit cards, insurance, banking and mortgage verticals. They hold a BA in sociology and a certificate in editing from the University of Washington, Seattle.
Expert review
Biz2Credit is an online connection connection service that can help your business find a loan from an online lender or bank. Your business can borrow up to $250,000 with rates as low as 8.99% — or up to $6 million on commercial real estate loans.
It’s also one of the few places you can find funding if you want to buy another company or are in a high-risk industry, like insurance. But you’ll pay an underwriting fee of at least $250 at closing.
