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2023 Biz2Credit Reviews: Services, Pros & Cons


  • Low borrower qualifications
  • Multiple types of funding
  • Free website business resources


  • High rates and some additional charges
  • Personal guarantee required for some loans

Average Rating: 4

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Biz2Credit might be just what you need.

In this Biz2Credit review, I’ll go over the following:

  • Biz2Credit bio and history
  •   Biz2Credit loans and offers
    • Merchant cash advances
    • SBA loans
    • A business line of credit
    • Equipment financing
    • Unsecured business loan
    • Business acquisition loans
  • Biz2Credit application process
  • Competitors
    • Biz2Credit vs. Lendio
    • Biz2Credit vs. Credibly
    • Biz2Credit vs. LendKey
  •  Customer service
  •  Biz2Credit user reviews
    • Negative reviews and complaints
    • Positive reviews and testimonials
  •  Pros and cons
  •  Conclusion

Biz2Credit Bio and History

Biz2Credit is an online direct funding provider for small businesses headquartered in New York. It also serves as a bridge between money lenders (who offer various funding options) and small business owners in need.

Who’s behind it?

The founders of this company are Ramit Arora and Rohit Arora. They’ve been carrying out their purpose of supporting small businesses for 14 years now—the company was launched in 2007.

If you want to be considered for a loan from Biz2Credit, the only requirements you have to fulfill are:

  • At least six months in business
  • Solid revenue

Biz2Credit Loans and Offers

Biz2Credit offers a variety of loans and funding options:

  • Merchant cash advances
  • SBA (Small Business Administration) loans
  • A business line of credit
  • Equipment financing
  • Unsecured business loan
  • Business acquisition loans
  • Real estate financing
  • Franchise loans
  • Disaster loans
  • Business credit cards
  • Bad credit business loans
  • Working capital loans

If you want to find out even more about the services of Biz2Credit, take a look at some details on the company’s main offerings.

Merchant Cash Advances 

Merchant cash advances (MCAs) involve the purchase of future credit card receivables for a lump sum.

  • Loan amount: $2,500–$250,000
  • Payment terms: daily deduction from the merchant account
  • Factor rates: 1.14–1.45
  • Funding time: as little as 24 hours

SBA Loans

SBA loans are helpful for two reasons: they have better rates and terms, and they’re more accessible than other types of loans.

  • Loan amount: $5,000–$5,000,000
  • Loan terms: 5–25 years
  • Interest rates: starting at 6.5%
  • Funding time: within 30 days

Business Line of Credit 

With a business line of credit, lenders establish a credit limit for the maximum amount of money they will lend you.

  • Loan amount: $10.000–$1.000.000
  • Loan terms: 6 months–5 years
  • Interest rates: 7–25%
  • Funding time: within 48 hours

Equipment Financing 

You can buy business tools and supplies with the equipment financing Biz2Credit offers.

  • Loan amount: up to 100% of equipment value
  • Loan terms: estimated life of the equipment
  • Interest rates: 8–30%
  • Funding time: within 48 hours

Unsecured Business Loan

An unsecured business loan is a credit that doesn’t require the borrower to pledge assets of the company to borrow funds.

  • Loan amount: up to $100.000
  • Loan terms: up to 7 years
  • Interest rates: 4–36%
  • Funding time: as little as 4 days

Business Acquisition Loans

With a business acquisition loan, you can buy out an existing business, acquire a partner, or even expand or buy a franchise.

  • Loan amount: up to $5 million
  • Loan terms: up to 25 years
  • Interest rates: 3%–10% fixed or variable
  • Funding time: within 48 hours

What about fees?

Depending on the loan amount, among other factors, Biz2Credit creates daily, weekly, or monthly repayment plans. But the fees and rates vary mainly on the funding you qualify for.

Fees that come with the different types of loans include:

  • Underwriting fee
  • Closing fee
  • Activation fee
  • Application submission fee

These charges may apply as soon as you accept financing from Biz2Credit.

Biz2Credit Application Process

What people like about Biz2Credit is the quick and easy application process, which takes around four minutes.

Let’s go over a step-by-step guide of the whole procedure:

  1. Complete a PPP (Purchasing Power Parity) application
  2. Submit an application to the SBA
  3. Upload documentation, including:
  • Personal background statement
  • Personal credit score
  • Business credit report
  • Personal tax returns
  • Legal documents
  • Use of loan
  1. The SBA will either accept or decline your application
  2. Get funds

What’s even better is that this isn’t the only option. You can also get help through the chat feature on the webpage. After only a few minutes, you’ll be paired with a Biz2Credit representative who will lead you through the process and answer all your questions. They’ll also give you options to find the best product for you and your business.


Though Biz2Credit is one of the most reliable and fast financial solutions for small businesses, having another option or two is never a bad thing. We compared Biz2Credit’s services to two alternatives: Lendio and Credibly.

Let’s check them out!

Biz2Credit vs. Lendio

One of the best-known alternatives to Biz2Credit is Lendio. It works basically the same way—it connects business owners with loan providers. You can use Lendio for free; there aren’t any fees. But you might incur some charges by the lender, depending on the terms you agree to.

Compared to Lendio, Biz2Credit offers lower interest rates—APRs range from 4% to 26%, while Lendio’s rates are from 8% to 24%.

Biz2Credit vs. Credibly

Credibly is another company that offers very similar services to Biz2Credit. Both platforms allow you to get approved for a loan within 24 hours. You can use both for free and find lots of helpful information on their websites. What’s more, they both have excellent customer service.

There are a couple of differences when it comes to fees and rates, though:

  • Credibly has a 2.5% origination fee, and interest rates are between 9.99% and 36%
  • Biz2Credit has a $250–$400 underwriting fee, and interest rates are in the 4%–26% range.

Biz2Credit focuses mainly on small businesses, whereas Credibly focuses on medium-sized companies too.

Customer Service and Technical Support

You can reach Biz2Credit in any of the following ways:

  • By filling out a contact form on its website
  • Through its official social media accounts:
    • Facebook
    • Twitter
    • LinkedIn
    • Youtube
  • You can also take advantage of its:
    • eBooks
    • Blogging community
    • Financial calculators
    • Glossary
    • BizAnalyzer

Biz2Credit User Reviews

The Better Business Bureau doesn’t accredit Biz2Credit. In the period between 2017 and 2020, there have been only six complaints.

But Biz2Credit has a 1.9 rating on Consumer Affairs, which is pretty low. Most of the negative reviews are from frustrated customers who say customer representatives stopped responding to them.

Let’s check out the main reason customers give the service a low rating.

Negative Reviews and Complaints

  • Miscommunication

There are complaints about confusion regarding the process of application, fees, or credit checks.

  • Hard inquiry on the credit

Biz2Credit eventually requires a hard pull on your credit, which several customers found unacceptable.

  • Expensive

Some people complain that the fees can be high compared to banks. Biz2Credit’s interest rates are between 4% and 26%, while banks usually have lower interest rates.

Positive Reviews and Testimonials

Biz2Credit’s reviews on Trustpilot are excellent—the company has a 4.2/5 rating.

Let’s see what people like most about Biz2Credit’s services:

  • Great customer service

Many users say client support reps were really helpful.

  • Variety of offers

There’s a wide range of services with different types of loans through Biz2Credit.

  • Fast funding

Many customers are pleased with how quickly they received funds. With Biz2Credit, you can get funding within 24 hours after approval.

Pros and Cons

Now that we covered some user reviews let’s check out the service’s advantages and disadvantages.


  • Low borrower qualifications
  • Multiple types of funding
  • Long-term financing options
  • Straightforward application process
  • Quick funding
  • Free website business resources


  • High rates
  • Some additional charges
  • Personal guarantee required for some loans


Let’s reiterate the benefits of this online service mentioned in our Biz2Credit review:

  • Low borrower qualifications
  • Quick funding
  • Easy application process

What’s more, Biz2Credit offers long-term financing options and a wide range of loan types. Although there are conflicting customer reviews online, most clients seem to be satisfied with the platform.

Check out Biz2Credit to find out if its services are right for you.