Securing financing for a small business can be challenging, especially if you don’t meet traditional bank loan requirements. Biz2Credit is an online lending marketplace that connects businesses with various loan options, including term loans, working capital loans, and commercial real estate financing.
But is Biz2Credit a good option for your business? In this review, we’ll cover:
✅ Whether Biz2Credit is a legitimate company
✅ The credit score requirements for Biz2Credit loans
✅ Whether Biz2Credit does a hard credit pull
✅ How long it takes to receive funding
By the end of this review, you’ll have a clear understanding of whether Biz2Credit is the right fit for your business financing needs.
What Is Biz2Credit?
Biz2Credit was founded in 2007 and has since helped small businesses secure over $7 billion in funding. Unlike traditional banks, Biz2Credit offers an online marketplace where businesses can compare different loan options from various lenders.
Types of Loans Offered by Biz2Credit:
- Term Loans: Fixed-rate loans with repayment terms ranging from 12 to 36 months.
- Working Capital Loans: Short-term loans to cover daily operational costs.
- Commercial Real Estate Loans: Financing for purchasing or refinancing commercial properties.
- EIDL & SBA Loan Assistance: Help with government-backed loans.
Biz2Credit’s online platform allows businesses to apply in minutes, receive approval within 24 hours, and access funding quickly. However, the eligibility requirements and loan terms depend on the lender you’re matched with.
Is Biz2Credit a Legitimate Company?
Yes, Biz2Credit is a legitimate company that has been operating for over a decade. It has partnerships with various banks and alternative lenders, providing financing options tailored to small businesses.
Customer Reviews & Ratings:
- Better Business Bureau (BBB) Rating: Mixed reviews (Not BBB-accredited).
- Trustpilot Rating: 4+ stars, with many positive reviews about fast funding.
- Complaints: Some customers report issues with customer service and transparency in loan terms.
While Biz2Credit is a trusted lending marketplace, it’s always best to read loan agreements carefully and compare offers before committing.
What Credit Score Do You Need for Biz2Credit?
The minimum credit score required for Biz2Credit loans varies based on the type of loan you apply for.
- Term Loans: Require a minimum 660 credit score.
- Working Capital Loans: May accept lower credit scores, but approval depends on business revenue and cash flow.
- SBA & Government Loans: Typically require a strong credit score (680+) and extensive documentation.
Besides credit score, Biz2Credit looks at:
✔ Annual Revenue: Must be at least $250,000 for term loans.
✔ Business Age: The business must be at least 18 months old.
✔ Cash Flow: Strong revenue streams improve approval chances.
If your credit score is below 660, you may need to explore alternative financing options.
Does Biz2Credit Perform a Hard Credit Pull?
Biz2Credit’s loan application process usually starts with a soft credit pull, which does not impact your credit score.
However, once you accept a loan offer, a lender may perform a hard credit pull before finalizing the funding. This can temporarily lower your credit score.
💡 Tip: If you’re concerned about credit inquiries, ask the lender before accepting an offer.
How Long Does Biz2Credit Take to Fund?
One of Biz2Credit’s biggest advantages is its fast funding process.
Biz2Credit Funding Timeline:
✅ Application Process: Takes a few minutes online.
✅ Approval Decision: Within 24 hours in most cases.
✅ Funding Disbursement: 24 to 72 hours after approval.
Exceptions:
- Larger loan amounts or SBA loans may take longer due to additional verification.
- Delays may occur if additional documentation is required.
Overall, Biz2Credit is faster than traditional banks, making it a great option for businesses needing quick capital.
Pros and Cons of Biz2Credit
✅ Pros:
✔ Fast approval & funding (24–72 hours).
✔ Multiple loan options available.
✔ Easy online application process.
✔ No strict collateral requirements for working capital loans.
✔ Can accommodate businesses with lower credit scores.
❌ Cons:
✘ Higher credit score requirements (660+) for term loans.
✘ Higher revenue requirements ($250,000+).
✘ Mixed customer service reviews.
✘ Possible hard credit pull before funding.
✘ Interest rates & fees vary depending on the lender.
Final Verdict: Is Biz2Credit Worth It?
Biz2Credit is a solid option for small businesses looking for quick funding and flexible loan options. However, it’s best suited for businesses with good revenue and decent credit scores (660+).
Who Should Use Biz2Credit?
✔ Established businesses with strong revenue and cash flow.
✔ Business owners who need fast funding (within days).
✔ Companies looking for alternative financing options beyond banks.
Who Should Look Elsewhere?
❌ Startups or businesses making less than $250,000 per year.
❌ Business owners with credit scores below 660.
❌ Those who prefer traditional bank loans with lower interest rates.
📌 Pro Tip: Before applying, compare Biz2Credit’s loan options with other lenders to ensure you’re getting the best deal.
Frequently Asked Questions (FAQs)
1. Is Biz2Credit a legit company?
Yes, Biz2Credit is a legitimate online lending platform that has funded over $7 billion in loans for small businesses since 2007.
2. What credit score do you need for Biz2Credit?
A minimum credit score of 660 is required for term loans. Other loan types may have different requirements.
3. Does Biz2Credit do a hard credit pull?
Biz2Credit starts with a soft pull but may perform a hard pull before finalizing loan approval.
4. How long does Biz2Credit take to fund?
Biz2Credit typically funds approved loans within 24 to 72 hours, making it a fast financing option.
Final Thoughts
Biz2Credit is a great option for business owners who need quick funding and have a solid credit and revenue history. However, interest rates and loan terms vary, so it’s essential to compare offers before making a decision.
💼 Need personalized guidance? A trusted small business loan broker can help you evaluate Biz2Credit alongside other lenders to find the best fit for your unique needs.
Would you like help comparing Biz2Credit to other loan providers? Let us know in the comments!
