Minimum credit score: 670
Overview
Biz2Credit, a loan provider for small businesses, offers loan terms, startup financing, and commercial real estate loans. The business offers an easy and quick application process, and its loans are often granted in less than 24 hours.
A direct finance source for small enterprises, Biz2Credit offers term loans, company cash advances, and loans for commercial real properties. Biz2Credit utilizes a quick application process to spot several pre-approved loan financing to help you with your business.
For term loans, Biz2Credit has rather strict criteria, such as $250,000 in yearly revenue and an 18-month business history. The advantage of the situation is you will enjoy interest rates as low as 8.99%. Newcomer companies can also benefit from financing in exchange for a share of their future profits.
What Does Biz2Credit Offer?
The goal of Biz2Credit is to provide developing companies with the funding they require. The fact that this finance source serves a wide range of companies is what sets it apart. Traditional term loans, for instance, are an option for well-established companies, whereas newcomers can avail of loan financing which will be paid back with a portion of their future revenues. The partners of Biz2Credit often approve loans in less than 24 hours, and you can have your money in three business days.
Biz2Credit facilitates a variety of financing options. Low-interest rates, weekly or biweekly payments, and flexible terms are all features of small business term loans. Young businesses with fewer than 18 months of operation are eligible for startup finance, which can be repaid based on future income rather than through set payments. For companies who own their own property, commercial real estate loans provide cheaper interest rates and greater financing.
• Low-interest rates of 8.99%
• Term loans, starting capital, or loans for commercial property
• Loan approval within 24 hours
• Pick from a number of loan offerings
How to Apply for Funding?
An online application is available from Biz2Credit’s website, and it would only take under 5 minutes to complete the process. Simply provide information about yourself and your company, and Biz2Credit will show you financing choices for which you have already been pre-approved right away. The lender will do a hard credit check once you decide to accept a loan offer, and there is a possibility that they may request additional documentation. The majority of Biz2Credit partners can complete your application in less than 24 hours and disburse your funds within three business days.
The amount you can lend in Biz2Credit relies on your company’s business history and on how you are going to utilize your loan. You may borrow anything from $25,000 and $250,000 with a typical term loan. Financing for startup businesses can range from $25,000 to $5 million. If your company owns its real estate, you can borrow anywhere from $250,000 to $6 million using a commercial real estate loan.
• A 660 credit score is needed as a minimum requirement
• For term loans, a $250,000 income is required and the business must be in the market for 18 months
• For new businesses, a $100,000 income is needed and the business must be in the market for six months
Repayment
The payback period for both term loans and commercial real estate loans in Biz2Credit runs from 12 to 36 months. Biz2Credit offers interest rates as low as 8.99% APR, but your rate will vary depending on your credit history as well as the lender. For term loans, payments are made weekly or biweekly; for commercial real estate loans, payments are made monthly. If you select startup financing, your lender will take a certain proportion of your profits every day, every week, or every two weeks in order to settle your debt. Your loan’s repayment period will be determined by the size of the percentage and the amount of profit your company generates.
Data Security
The website and application for Biz2Credit are protected with SSL encryption by Entrust. The company does share information about your company with partners, but it has a very thorough privacy policy.
Customer Support
Biz2Credit’s customer support is available 5 days a week. Customers can reach their customer service via phone, email, and live chat. In order to monitor the financial health of your company and calculate the cost of a loan, Biz2Credit also provides a business toolkit.
Phone number: (212) 644-4555
Email address: info@biz2credit.com
Bottom line
It is simple to find the ideal loan or finance option for your company using Biz2Credit. Through this funding source, you can get in touch with lenders who work with a variety of business types and who can approve loans in as little as 24 hours. An easy application process, top-notch customer service, and large borrowing limits are all provided by Biz2Credit.
