Biz2Credit Reviews - Financial Lender Pros & Cons

tamara-cohen writer
By Tamara Cohen
Updated November 5, 2020
Editor's Rating
Marketplace Lender
Customer Rating 16 Reviews
  • Quick and easy application process
  • No need to send financials for smaller loan amounts
  • Open to startups and businesses in every industry
  • Hard to know what the rates will be in advance
  • High closing fee as well as any fees from direct lenders


Biz2Credit is a lending platform that connects business owners with direct lenders. It's not a direct lending platform itself, which means that you'll find a wide range of loan types, rate, conditions, and amounts, depending on which lender you work with. 

Biz2Credit helps small business owners in every industry access the funding they need, including SBA loans, equipment funding, business lines of credit, and merchant cash advances. 

Services Offered 

Biz2Credit connects you with lenders who provide a whole range of business financing services, including:

You can also find special lending programs for businesses owned by women, minorities, or veterans. 

There are no limits to the kinds of equipment you can fund with Biz2Credit's equipment financing, including:

Industries Served

Thanks to its wide network of lenders, Biz2Credit doesn't place any restrictions on the industries it serves. You will even find special lending programs for high-risk industries like gas stations, insurance agents, car dealerships, and liquor stores. 

Biz2Credit serves startups as well as more established businesses.

Borrower Qualifications

Biz2Credit is quite flexible about who can receive equipment financing loans. Most lenders look for applicants with at least 2 years in business, but the minimum requirements are:

Startups can apply for equipment funding too, for amounts between $25,000 and $100,000. Because of your shorter business history, it's more important to have a good business credit rating. 

Biz2Credit doesn't serve businesses in Nevada, South Dakota, or North Dakota. 

Terms & Fees

Terms and Fees Summary/considerations.

The amount you can borrow and rates you'll receive depend on the direct lender, not Biz2Credit, so it's hard to predict what kind of terms you'll end up with. You also can't select between $1 buyout, FMV, or other deal types upfront - you'll have to wait and see what the lender offers. 

However, thanks to the large network of lenders, you are likely to find a suitable loan option with Biz2Credit, even for startups that don't have a long business history yet. 

Application Process

Applying for any Biz2Credit loan is quick and easy. It takes about 4 minutes to complete the simple online application form, which asks basic questions like how much you need to borrow and for what purpose, how long you've been in business, your revenue, credit score, and contact details. 

Biz2Credit Biz2Credit

Then you wait for loan offers to appear in your Biz2Credit dashboard, which takes as little as 24 hours. You can log in anytime to check your options, and Biz2Credit's advisors will help you complete lender-specific requests for the offers that appeal to you. Your funds come through in as little as 72 hours, but it can take up to 2 weeks depending on the lender and your business circumstances. 

If you're borrowing less than $100,000 and have more than 13 months in business, you're unlikely to have to provide any more information beyond the online application form. If you're looking to borrow more than that, you'll need to share your business credit score and business tax returns. 

Startups with under 13 months in business will usually need to send 2 years of personal tax returns, estimates of the cost of equipment that you want to buy, and a financial plan. You'll be assigned a Biz2Credit case manager to help you through the process. 

Sales & Advertising Transparency

It's clear that Biz2Credit values transparency and does its best to give you all the information you need to make informed borrowing decisions. The privacy policy and terms and conditions fine print are both easy to find from the website home page. 

Biz2Credit isn't a direct lender, but it does share the minimum and maximum rates and amounts that you can borrow. There are no hidden fees for the service; although you'll have to pay a $250-$400 fee when your loan closes, Biz2Credit is upfront about it. However, the platform can't tell you what fees the direct lender might charge, so you'll need to do your own research there. 

Customer Service & Technical Support

Biz2Credit has a number of customer service channels, including a click to call phone support line and click to email, as well as an online webform. The phone lines are manned from Monday to Saturday, 8am to 9pm ET. The company has offices in both the US and India. 

You'll find a sizable knowledge base and a number of free resources, financial tools, and calculators on the site, to help you make your business as efficient as possible. These include the BizAnalyzer, which creates a financial health and credit worthiness scorecard so you can see which loan products you qualify for.  

Biz2Credit Biz2Credit

You can use the equipment value calculator, which helps you work out the value of the equipment you need to buy and how much it will be worth after a certain number of years, so that you can plan your loan amount more carefully. 


User Reviews

Biz2Credit has an overall rating of 4.9 stars on TrustPilot, from almost 1,500 reviews, and 4 stars on BBB. The company is not accredited by the BBB but it does have an A+ rating. 

Negative Reviews & Complaints

Biz2Credit does have a number of negative complaints across a few review sites, but the vast majority of them relate to SBA and PPP loans during the COVID-19 pandemic. Biz2Credit is very responsive and replied to as many negative reviews as possible, doing their best to resolve them and explaining that most of the issues are due to SBA bureaucracy and delays in funding loan requests. 

There are also some unhappy customers who encountered rude or unprofessional customer service agents. In most cases, the company apologized on behalf of the agent. Some reviewers flagged that loan payments were still taken out even once the loan was paid off. 

Positive Reviews & Testimonials

The positive reviews far outweigh the negative ones for Biz2Credit. Biz2Credit's happy customers highlight the quick, simple process, and appreciate that it is so straightforward and easy to use. Many are grateful that Biz2Credit was able to connect them with a he[ful lender when they weren't able to get funding from any other source, and some mention the affordable and upfront fees that Biz2Credit charges. 

Final Verdict

Biz2Credit makes it so easy for small to medium businesses to get the funding they need, especially if you've struggled to find equipment financing from a traditional bank or other online lenders. The application process is simple, and it's unusual in opening up lending options to startups as well as more established businesses. Although the platform fee is high and it can take up to 2 weeks for funds to come through, Biz2Credit is still an excellent option for companies that need reasonable rates and improved cash flow. 


16 User Reviews

Cathrineolkman V

Nov 27, 2020 9:56 PM

I applied for a merchant cash advance with Biz2Credit. The deal I got was pretty good and I am quite satisfied with it. The only problem I faced was that they took too long to process the business loan. Took them almost a month, which is a lot of time. The only reason I stuck with this company was the reviews I had read and heard about Biz2Credit's business loan product and how it had proved beneficial for many businesses. And the reviews were right indeed. The time of delivering could have been faster though...


Heaven Toy MD

Dec 18, 2020 9:56 PM

The application process is easy and hassle-free. My small business in Minnesota did not have to send financials as the business loan I was looking for was small. I was seeking $25000 to pay a couple of vendors. The process was easy and I was able to pay the vendors on time. If you are looking to get small amounts for business loans, Biz2Credit is definitely your best choice.


Louvenia Robel

Jan 23, 2021 9:58 PM

I liked their equipment financing product but they took too long to approve the loan. Almost 2 to 3 months which is quite a lot if you look at other lenders like Ondeck, Cardiff, FORA etc.. They take just a couple of days at max. I did get the deal from Biz2Credit but I had to wait so much and so did the merchant I was buying from. If you are looking for instant financing, you better check other lenders but if you can wait, Biz2Credit is definitely a great choice of lender as you know, good things come to those who wait...


Gianni Bechtelar

Feb 3, 2021 9:58 PM

I had a great experience with Biz2Credit but later I came to know they were selling my information to affiliates and that felt like a huge invasion to my privacy. If they had to do this, they could have disclosed this in the contract or at least talked to me about it or asked my consent but none of that happened. They stealthly just forwarded my information or whatever! I am really disappointed! I would have given them a 4 or 5 star rating for their excellent services but after this revelation, I would definitely file a suit against them!!


Mona Medhurst

Mar 11, 2021 10:00 PM

Biz2Credit is most definitely the greatest business loan provider out there. I discovered this lender via the Small Business Association. I immediately contacted them as I was looking for equipment leasing for my landscaping business in Jamestown. On receiving my query, they called back within 24 hours. It was Tenzin who contacted me back and I remember it was a weekend, when most banks have closed and you cannot bother them. So, Tenzin called back and we had a brief discussion on the equipment financing the lender provided. He made the process very easy and straightforward and completed documentation and review in just 2 days. The third day, my loan was approved and I received the capital in a couple of hours. I had no broke or financial expert to assist me through the process - just me and Tenzin. It has been a great experience!


Sabrina Jast

Mar 26, 2021 10:01 PM

I worked with Tenzin too and you are right about him. He indeed makes the loan process pretty easy, takes care of the documentation and reviews the application - all of this in just a couple of days. But after that, my story was not as satisfactory as yours. After the application was reviewed, it took them a long time to approve it, some 2 to 3 weeks. I was expecting a week at max but they took a lot of time. My merchant got impatient. I talked to Tenzin about it and he was happy to help. He talked to the merchant and got him to trust us. After that, it got better and when I received the capital and paid my merchant, the ride got smoother and more satisfactory!


Braeden Denesik

Apr 7, 2021 10:02 PM

I had an awesome experience with Biz2Credit! Two times!!! And both times it has been just satisfying! I applied for a PPP loan for the first time with these guys and boy, is the whole procedure totally hassle-free!! I had no one assisting me, I was on my own and I must praise their we interface which is not only user-friendly but also keeps track of the whole application process as you keep applying, one step after another. There was a list of documents that were needed and then I knew how many steps were remaining until the application process would be complete. The system they designed is so easy and engaging that you don't need to call them or ask them for assistance, at least that was the case with me. The system also prompted me if I had missed a document and when the application would be reviews. I must have done everything correctly, followed the right steps because my business loan application was approved in no time. After I sent the application, it was reviewed and approved in two days. The capital was in my business account the next day. I was over joyed. Without going through any conversation with a representative, I was able to get my online business loan approved. Not only that, the next time when I applied for loan forgiveness, It was easier still. I am amazed with their service! I would, without a doubt, work with these people again!


Rico Jerde

Apr 29, 2021 10:02 PM

My PPP loan was approved but the funding they sent me was debited back but they still billed me for the loan. It was all too confusing and frustrating. I contacted them and demanded an explanation and they were "very concerned" and said they were "looking into the matter". I'm sure they are concerned and looking into it but they wasted so much of my time and cost me a lot of money. They better offer a compensation for all this!!!


Polly Hodkiewicz DVM

May 28, 2021 10:02 PM

I was seeking a machinery loan and I applied at a couple of banks and equipment financing lenders but the processes were too tedious and overwhelming. Got bogged down in the application process and all the crazy documentation. Biz2Credit's online business loan process is just great - so easy, simple and involves no hassle!


Kiara Kreiger

Jul 25, 2021 10:02 PM

I was satisfied with their service fully. From application of the merchant cash advance to getting the credit in time, everything was great except that they don't offer good communication and the customer service is pretty slow. Thank God for the good web interface, you don't really need much assistance but sometimes, you really do and all they do is send you emails and stuff. That doesn't suffice all the time.


Justus McKenzie

Aug 4, 2021 10:02 PM

I applied for an SBA PPP loan for my cosmetics and skincare retail company in Boston. The whole process was okay but there were a couple of glitches and delays on the online application process but I got the hang of it and it got better until the time for the loan forgiveness came. The process got smoother and easier. I must say I had a better experience with Biz2Credit's online business loan application than I had with regular banks or lenders. There is just so much unnecessary talk there and it takes so much time. But with Biz, it was easy, to-the-point and simple.


Toby Jaskolski

Aug 21, 2021 10:02 PM

Poor service!! Not everyone find their online application easy and they should have an alternative for people like me who are not so learned in technology!


Ova Davis

Sep 3, 2021 10:02 PM

I understand the huge demand that this lender has to deal with but that is no excuse for their constant unresponsive behavior. I had a bunch of questions and I sent multiple emails and tried to make an appointment with their representatives but I never got a call or email back. Pathetic customer service!


Helene Boyer

Sep 22, 2021 10:09 PM

Excellent service! Everything is transparent and you get the business loan in a matter of days. I have recommended Biz2Credit to my friends who are looking for equipment financing or merchant cash advance deals. As for me, I look forward to apply for an equipment leasing deal with Biz for my technology firm in Manhattan.


Adeline Macejkovic

Sep 29, 2021 10:10 PM

My insurance company in Seattle was seeking a business line of credit to help managing routine operations at the company. I had to streamline the finances and manage payroll. The application process was not too straightforward. I found it very difficult to keep sending emails back and forth because I had queries that I needed answers for and it took them days to respond. But after the process was complete and my business loan got approved, everything was good. I was able to get my business in line. Thanks!


Layne Kilback MD

Oct 15, 2021 10:08 PM

In my experience, the online business loan process was a tiring one. The portal did not load the first couple of times I tried and when it did, I struggled with the application procedure. I was unsure which documents were required and which weren't and it took me a lot of time. Had it been a representative from the lender to guide me through the documentation, it would have been so easier and would have saved a lot of my time. So, after a number of mistakes, I was able to upload the required documents and complete the application procedure. I understand it's my lack of technological sense or whatever but they should have help for people like me too. Not everybody here is good at using technology. So, anyway, after this tedious process, my application got approved rather quickly and I got the merchant cash advance in my account within 2 weeks. But this was not over yet. I had to apply for forgiveness and again the process seemed unclear and it took a lot of time. They asked for my profit/loss statement which according to my SBA accountant was not necessary. I was a bit confused as to why did they ask for the statement then. But anyway... I got through this process slowly too. I rated them 3 stars for the fast deposit of the business loan and that the rest of the deal was pretty straightforward and reasonable. Please, work on your application system and derive a way to help people who are not that technology learned.