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Biz2Credit Review

Founded in 2007, Biz2Credit has provided over $7 billion in loans to thousands of small businesses nationwide. If you’re a small business owner seeking funding in the form of a term loan, working capital loan, or secured commercial real estate loan, Biz2Credit should be taken into consideration. Use this guide to learn more about Biz2Credit, including its benefits, drawbacks, pricing, and financing options. 

Biz2Credit logo for Crazy Egg Biz2Credit review

Biz2Credit Compared to the Best Small Business Loans

In addition to Biz2Credit, our team here at Crazy Egg researched and reviewed the best small business loans on the market today—recommending three as our “Golden Eggs.”

Lendio connects your business with a loan specialist to help you find the best loan type and lender for your specific needs. You can sign up in less than 15 minutes and qualify for a loan of up to $5 million. 

OnDeck offers lines of credit and term loans with flexible financing options and reasonable qualification criteria. Complete your application now and get funded as soon as the same day.

Bluevine shines for businesses seeking low-interest credit lines with no maintenance fees. Apply now to get a credit line of up to $250k and get a decision in under five minutes. 

Biz2Credit: The Good and The Bad

Understanding where Biz2Credit shines and where it falls short can help you determine whether this is the right funding solution for your small business. We’ll take a closer look at the pros and cons of Biz2Credit below, using information and reviews from real customers. 

What Biz2Credit Is Good At

Compared to other lenders and loan marketplaces for small businesses, Biz2Credit definitely has some strengths that stand out from the crowd. We’ll take a closer look at those strengths and explain what Biz2Credit is good for below.

No Industry Restrictions: Thanks to its wide lender network, Biz2Credit accepts loan applications from businesses across every industry. This isn’t something you’ll find from other online lenders and small business loan marketplaces out there. 

Biz2Credit even offers special financing options for high-risk businesses, including those of you who operate liquor stores, car dealerships, insurance agencies, gas stations, and more. If you’ve been turned away by other lenders because your business falls into a unique industry bucket, Biz2Credit is still a viable option for you. 

Flexible Borrowing Qualification Criteria: Many online lenders require small businesses to meet strict borrowing qualifications before they can apply for a loan. For example, you’ll likely find lenders that require you to have a credit score above 700 and be in business for at least two years to qualify.

But Biz2Credit offers working capital loans to small business owners who have been operating for six months and have a credit score above 575. You can also get a term loan or commercial real estate loan if you’ve been in business for 18 months and have a credit score higher than 660. 

Dedicated Funding Specialists: When you apply for any type of loan from Biz2Credit, you’ll be matched with a dedicated funding specialist to help streamline the process. They’ll help you determine what loan amount is best for your small business and help you navigate through each step of your loan and financing options.

You can connect with your specialist at any time to ask questions or verify certain details. These specialists take a consultative approach and genuinely have your best interest in mind to walk you through the process—which is crucial for small business owners who have never applied for a loan. 

Simple Application Process: Business owners who have used Biz2Credit for a loan in the past point to the platform’s simplicity. While getting a loan can be intimidating for some, Biz2Credit is very transparent and makes it easy for anyone to apply. You can create your profile in less than one minute by answering some basic questions about yourself and your business.

The application process itself takes about four minutes to complete and involves information related to your small business’s finances and banking. After you submit an application, you should receive a decision in less than 24 hours and get funded as soon as 72 hours. Although this mostly applies to working capital and term loans, as secured commercial real estate lending tends to take a bit longer. 

Helping Small Businesses Grow: Many Biz2Credit customers explain that the loans they received helped take their businesses to the next level. From serial entrepreneurs and established business owners to first-time startup owners, Biz2Credit can accommodate a wide range of small business lending needs. 

Several reviewers also mention that they’ve used Biz2Credit for multiple loans over the years. This includes multiple loans in the same category, such as working capital, and loans in different categories, like working capital and term loans. 

What Biz2Credit Is Lacking

While Biz2Credit is a reputable and reliable lending option for small business funding, it’s not perfect. There are a handful of areas where Biz2Credit could use some improvements, and it has some weaknesses compared to other small business loan options on the market today.

High Annual Revenue Requirements: Biz2Credit is flexible when it comes to your credit score and how long you’ve been in business. However, your business must generate at least $250,000 in annual revenue to apply for a working capital loan, term loan, or commercial real estate loan.

This qualification criteria is a bit higher than other online loan options on the market today and will disqualify some newer small businesses immediately. In short, if your business doesn’t gross a quarter million per year, you probably won’t be approved for a loan from Biz2Credit. 

Fee Transparency: Biz2Credit is not a direct lender. The platform matches small businesses with lenders in its network to help you find a loan that best fits your needs. There are no hidden fees for using the Biz2Credit service, but you will have to pay a fee of up to $400 when the loan closes.

Biz2Credit can show you the minimum and maximum amounts you can borrow, along with the rates of the loans. However, it’s not always clear if your lender is charging other direct fees beyond the interest rates on the loan. So you’ll be forced to do some extra digging on your own to get these answers, which can be a little frustrating. 

Additional Information Required for Large Loan Amounts: Biz2Credit advertises a seamless signup, application, and approval process—and most reviews concur with this. However, this is generally for small business owners borrowing less than $100k and who have been in business for at least 13 months. 

For those of you seeking loans larger than $100k, you’ll likely need to provide some additional information that adds some time to the application process. This might include personal tax returns, business returns, the cost of the equipment you plan to purchase, financial plans, and more. Fortunately, your dedicated loan specialist can help walk you through each step and explain what statements you need to provide. 

Marketing and Email Spam: A small portion of Biz2Credit reviews point to the unsolicited emails they’ve been receiving after creating an account. This is even true for customers who created a profile but ultimately did not apply for a loan.

These reviews also say it’s impossible to delete your account once it has been created, and emails don’t give you an option to unsubscribe. It also seems like direct requests for marketing data removal have been unsuccessful, and emails continue to come from multiple addresses pitching loan options. 

Biz2Credit Options and Pricing

Biz2Credit offers small business loans and funding options across three main categories—working capital loans, term loans, and secured commercial real estate loans. All of these loan options are great for small businesses, but they each have slight variations, qualification rules, funding amounts, and other differences that we’ll cover in greater detail below.

Biz2Credit Working Capital Loans

Biz2Credit offers working capital loans that can be used for a wide range of different use cases. Many small business owners turn to this funding option to hire employees, cover one-time expenses, purchase equipment, buy inventory, pay for operating costs, and more. It’s a great way to get some extra cash to grow your business.

Screenshot of working capital financing webpage from Biz2Credit

Working capital funding options from Biz2Credit range from $25,000 to $2+ million. It takes just minutes to apply, and you should have an answer within 24 hours. Funds are typically released within 72 hours of your application submission.

To qualify for a working capital loan from Biz2Credit, you need a credit score of 575 or higher. You must also be in business for at least six months and have an annual revenue greater than $250,000 to apply. Depending on the loan you get, Biz2Credit can set you up with a repayment schedule that ranges from daily to weekly or bi-weekly from your receipts. 

Biz2Credit Term Loans

Term loans from Biz2Credit are great for businesses that want to expand. You’ll have access to the full amount of your cash upfront, which can be used for a wide range of operational needs to and free up your cash flow. It’s also worth noting that term loans are typically eligible for tax-deductible interest, so you also get some relief when it’s time to file your taxes. 

Screeshot of term loans webpage from Biz2Credit

Repayment plans range from 12 to 36 months. You can make these payments either weekly or bi-weekly based on your needs. Working with a dedicated funding specialist from Biz2Credit can help you determine the best loan terms that fit your business’s needs based on what you’re using the money for and the timeline you plan to repay it.

You can use Biz2Credit to secure a term loan of as little as $25,000 or as high as $500,000. Biz2Credit works with lenders offering rates as low as $7.99%, depending on your credit score and other factors. To qualify, you’ll need to have at least 18 months in business, a minimum credit score of 660, and annual revenue greater than $250,000.

Biz2Credit Commercial Real Estate Loans

If you own commercial real estate, you can borrow against your property with a secured loan from Biz2Credit. This gives you access to larger sums of cash for varying business needs. Many small business users use a secured commercial real estate loan to fund renovations, refinance existing loans, acquire new businesses, and otherwise expand their operations. 

Screenshot of secured commercial real estate loans webpage from Biz2Credit

To qualify, you must already own commercial property and have a credit score of at least 660. You need to be in business for at least 18 months and generate a minimum of $250,000 per year to apply. Terms range from 12 to 36 months, and the payment timeline is also flexible. You can make monthly payments on your loan, and in some cases, make interest-only payments. 

In terms of available capital, Biz2Credit’s commercial real estate loans offer the largest funding amounts. These loans start at $250,000, but you can borrow up to $6 million for larger projects or refinancing options. Rates start at 10%, and you can qualify in less than 48 hours. 

Biz2Credit in Summary

Biz2Credit is an excellent option for small business owners that need a working capital loan, term loan, or secured commercial real estate loan. The signup process and application can both be completed in less than five minutes, and you’ll likely get a decision in less than 24 hours. 

Small business owners love that Biz2Credit connects them with a dedicated loan specialist to answer all of their questions and help them find the funding option that’s right for their business. 

In addition to Biz2Credit, there are several other viable options you can find in our reviews of the best small business loans. Lendio is great for small businesses that want to work with a specialist that can help them find loans of up to $5 million. OnDeck is ideal for those of you who want flexible financing options without strict qualification terms, and Bluevine offers low-interest lines of credit for up to $250,000.


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