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Biz2Credit Review 2022: What to Know Before You Apply

Biz2Credit offers a variety of funding options for small businesses, including merchant cash advances, term loans, commercial real estate loans, and more.

8.4 / 10
Editorial Score
Andrew Koopman
Finance Writer
June 20, 2022


Biz2Credit is an online lender focusing on providing small businesses with various types of funding to meet any need. The company offers funding as a direct lender, and also partners with a network of lenders to present you with a range of loan offers to choose from.

Biz2Credit offers merchant cash advances, term business loans, and commercial real estate (CRE) loans among other funding options, ranging from $25,000 to $6 million. No matter the needs of your business, it should be easy to find a solution that works for you.

As a small business owner myself, I was excited about the opportunity to review Biz2Credit and see what rates and terms I could find. During my time researching the company, I’ve come across a number of things you’ll want to know about before you begin the application process.

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Products & Services

Working Capital Funding

If your business has been in place for under 18 months, the only type of funding you’ll qualify for from Biz2Credit is working capital funding. This type of funding is not actually a loan, but rather the company’s way of offering merchant cash advances (MCAs). With MCAs, the lender purchases a certain amount of your future sales, based on a factor rate.

The factor rate associated with working capital funding from Biz2Credit is unknown and will vary depending on the amount you’re looking for, how long you’ve been in business, how much annual revenue your business brings in, and more. In short, the factor rates that you’ll see from Biz2Credit and its lenders should be compared like you would compare interest rate – i.e., lower is better.

Using Biz2Credit, you can apply for working capital funding for any sum from $25,000 to $2 million or more. The site claims that most applicants will receive an approval decision within 24 hours after submitting the application.

For the best chance of getting approved for working capital funding from Biz2Credit, your business should bring in at least $250,000 in annual revenue, your credit score should be at least 575, and you should be in business for at least 6 months before applying. If you don’t meet any one of these terms, you may have a hard time qualifying for a loan.

Term Loans

A term loan is the standard business loan that you would apply for at a bank or on any other online lender. Biz2Credit’s term loans have stricter requirements than MCAs, but you can often get better rates this way.

You should be in business for at least 18 months before applying, with at least $250,000 in annual revenue, and a credit score of 660 or higher. These requirements typically negate the use of Biz2Credit for startups and newer businesses.

Biz2Credit lets you apply for a term loan for any amount between $25,000-$250,000. Similar to the above, you can expect to hear an approval decision within 24 hours of submitting your application. If you’re approved, Biz2Credit claims that it will disperse the funds to your account within 72 hours.

One of Biz2Credit’s biggest drawbacks is the high rates that it charges on its loans. As you are comparing the offers of your term loan, you’ll only find rates starting at 8.99% and higher. The typical payback period is between 12-36 months.

Apply for a Term Loan with Biz2Credit

Commercial Real Estate (CRE) Loans

Biz2Credit offers commercial real estate loans to businesses for amounts ranging from $250,000 up to $6 million. You’ll typically find out if you qualify for a loan within 48 hours of applying, and you’ll be able to start working with a CRE loan specialist that day to get the funds to your business as quickly as possible.

With CRE loans from Biz2Credit and its network of lenders, the rates are even higher than for term loans – don’t expect to see any rates lower than 10%. Similar to the term loans above, CRE loans have 12-36 month payback periods.

To take advantage of a CRE loan from Biz2Credit, you need to own commercial property to begin with, in order to secure the loan. You also need to have been in business for at least 18 months, bring in at least $250,000 per year in revenue, and have a credit score of 660 or higher to have the best chance of being approved.

Rates and Terms

The rates and terms for the main funding types that I discussed above will vary depending on which type you’re looking at. So will the amount that you’re able to receive in funding from Biz2Credit.

Within each specific type of funding, the rates and terms vary further based on a number of factors, such as your credit score, the amount of funding you’re looking for, your business’s annual revenue, how long you’ve been in business, and more.

Funding Type Loan Amount Rates (APR) Terms Additional Details
Working Capital Funding $25,000-$2 million+ N/A N/A Approval in less than 24 hours
Term Loan $25,000-$250,000 Starting at 8.99% 12-36 months Funding within 72 hours
Commercial Real Estate Loan $250,000-$6 million Starting at 10% 12-36 months Qualifying in 48 hours or less
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Biz2Credit does not charge any application or submittance fees, and viewing loan offers is completely free.

However, once you accept funding from Biz2Credit itself or one of the network lenders, you might face a few fees, including:

  • Underwriting Fee – the cost of evaluation and the approval process of your application. On Biz2Credit, the fee typically ranges from $250 to $400.
  • Closing fee – a fee that you’ll pay to Biz2Credit when the transaction closes, which will depend on the type of financing and size of the loan.
  • Origination fee – the upfront cost required to process a loan application. It will depend on the size of the loan. For CRE loans, this isn’t due until closing.

In addition to the fees above, the partner lenders can have their own additional fees, so always be sure to read the fine print.

Application Process and Qualifications

To apply for financing with Biz2Credit, simply head to the homepage and click the Apply Now button. You’ll need to fill out the following information in a quick form:

  • Funding amount you need
  • The time you’ve been in business
  • Your annual revenue
  • Your credit score

Once you submit the initial form, you can get a quick idea of the loans you pre-qualify for.

To move forward with your application and see actual offers, you’ll need to create an account and provide more information, including:

  • How much money you need
  • The type of funding you’re requesting
  • Business name
  • Business address (utility bill, bank statement, etc.)
  • Phone number
  • Email address
  • Proof of business revenue (bank statement,  Form 1040, etc.)

According to Biz2Credit, the entire application process should take 4 minutes or less. In my experience, it took closer to 10 minutes. Either way, once you provide all the information needed, the platform will match you with financing options for your situation. The offers will include direct funding from Biz2Credit itself as well as other offers from its network of lenders.

During the application process, Biz2Credit will only perform a soft inquiry on your credit, which doesn’t affect your credit score. But once you accept an offer, the lender will perform a hard inquiry into your credit before they can officially approve the loan.

A hard inquiry does affect your credit score, so once you accept an offer and the lender moves forward with the process, your score will take a small hit. These inquiries go away after about two years, but be prepared for a slight decrease in your credit score – around 5 points or so.

Apply for a Loan with Biz2Credit

Approval Time

With the various types of financing offered by Biz2Credit, the time it takes to get approved and for the funds to arrive in your account will differ. For any of the three funding types I’ve described in this guide, however, Biz2Credit is among the fastest in the industry at both approvals and disbursement of funds.

Here’s a quick look at the timeframes that you should expect depending on what type of funding you’re going after:

  • Working capital funding: Approval within 24 hours and funding within 72 hours
  • Term loans: Approval within 24 hours and funding within 72 hours
  • CRE loans: Approval within 48 hours and you start working with a CRE specialist that day to begin the funding process

As you can see, Biz2Credit gets you approved and funding dispersed within 3 days of submitting your application. The industry average for all types of loans is typically between 5-7 days, so Biz2Credit is a good option if you need to get your funding fast.

Customer Service

Biz2Credit is said to have had 24/7 live chat customer support at one time, but during my review, I was unable to find an option to chat with a representative anywhere on the site. With most similar sites having that option, that was a bit of a letdown with Biz2Credit. I don’t know about you, but I prefer not having to call customer support.

All that combined with the fact that customer service is only available by phone Monday-Saturday from 8 a.m. to 9 p.m. ET, it can get frustrating trying to reach Biz2Credit. But if you do get in touch with customer service – like I did, pretending to be looking for a term loan – a representative can help point you in the right direction.

During my phone call, I pretended to own a relatively new company (in business for about a year) in need of a standard term business loan. The representative was polite on the phone and asked me for the same information that the instant pre-qualification form asks for on the site.

After saying that I was looking for a $50,000 loan and my business was projected to make around $200,000 per year, I was informed that I did not qualify for the amount requested. But I did pre-qualify for a loan of $30,000 (60% of what I was looking for).

Overall, once I got hold of customer service, the experience was fairly average. The representative was polite and was able to quickly tell me what I did and didn’t qualify for, but I could have gotten the same information in just a couple of minutes on the site myself.

Other than via phone, there is also the option to contact customer support via email. I did not see any way to directly email customer support, but you can fill out a form on the website, with the promise that a representative will reach out. After filling out the customer support form, I waited three business days but was never contacted via email.


All things considered, Biz2Credit is an option worth keeping in mind during your search for business financing. Designed for small businesses, Biz2Credit is a good way to get funding quickly if your business is in need of cash, no matter what type of funding you’re looking for.

The entire process is done online, and Biz2Credit can get money into your account within just 3 days of submitting the application. And with amounts ranging from $25,000 to $6 million, you can quickly take care of any issues you need money for or take advantage of a business opportunity that you don’t want to miss out on.

Frequently Asked Questions

Is Biz2Credit SBA-approved?

Biz2Credit as a lender itself is not SBA-approved. That said, the platform can help match you with an SBA-approved funder through its network of banks and lenders. Available solutions include SBA Express Loans, SBA 7(A) Loans, and SBA 504 Financing.

What credit score do you need for Biz2Credit?

To qualify for working capital funding through Biz2Credit, you’ll need to have a credit score of at least 575. For term loans and commercial real estate loans through this platform, your credit score needs to be at least 660.

Is Biz2Credit a direct lender?

Since 2013, Biz2Credit has been a direct lender to small businesses. Before changing its business model to become a direct lender itself, Biz2Credit operated only as a marketplace offering a network of lenders to small businesses looking for funding.

What bank does Biz2Credit use?

Biz2Credit uses TD Bank, which is one of the ten biggest banks in the United States.

Apply for a Loan with Biz2Credit

Andrew Koopman
Written by

Andrew Koopman is a freelance finance writer. He's written hundreds of articles over the years, specializing in topics such as improving credit, paying off debt, and applying for loans. Andrew graduated from Miami University with a Master's degree in mechanical engineering. He loves watching sports and enjoying the great outdoors with his friends and family.

  • Easy application process that takes just minutes
  • Various funding options for all types of business needs
  • Fast approval and disbursement of funds
  • Additional fees may apply after you accept funding
  • High factor rates and interest rates
  • Not suitable for startups
Bottom Line

Biz2Credit is an online lender specializing in funding solutions for small businesses. The service is very convenient and it’s a good option if you’re looking (or struggling) to receive funding for your business, but you should expect higher rates than you’ll find elsewhere. Biz2Credit usually requires substantial annual revenue and at least six months of operation, so it’s not a good choice for startups.