Biz2Credit

My experience with Biz2Credit have been awful. It seems that there is lack of structure on the hierarchy of the company and who is in charge of what. I could write a book of bad experiences with this company and the lack of professionalism and trustworthiness that they have to offer to their clients. I went with this company because they push a lot for you to sign with them , and the initial process seems faster than doing it with a large bank. I regret doing business with them and will tell anyone o run away from doing business with this company. I have been in business 15 years and never had such unproffesional people to deal with.

If you are a professional services based company, RUN! I have had multiple merchant advance loans with Biz2Credit. Each of which has been paid off in full. Most recently, during this holiday season, business was slow in December. My payments got behind. I was behind approximately $742. Biz2Credit sent UCC letters to individuals who I no longer did business with asking them if they owed me any money, and if they did, to send the money to Biz2Credit. My services are offered on a flat fee basis so I don't have any genuine "receivables." As such, Biz2Credit was simply sending letters to old clients who I could potentially do business with again and advising them of the arrears, potentially harming any future business I could do with said parties. I tried to explain this to my account representative and he said, "Well you've done business with them in the past so we are allowed to send them a letter." This statement was incorrect based on the contract. They are allowed to send letters out to people who owe me money, i.e. accounts receivable. They had no list of anyone who owed me money so they sent letters out to old clients and damaged my business and any potential for me to work with those parties again. They then sent a letter to my merchant Square and had all transactions held. I agreed to send letter requesting that Square turn over $800 directly to them. The language on their letter said that they wanted the full balance in my Square account. The full loan balance was $5400. The balance in my Square account that was on hold was over $8k. They wouldn't be entitled to the full amount in my account. However, they requested the full balance and have prevented any transactions from being deposited into my business account for over two weeks. They have tried to get paid more than they are actually owed from my merchant. They have sent letters to individuals and businesses who do not owe me money and interfered with any potential business relationship I could have with them. When you call the New York office you are transferred to call centers offshore. In response to the UCC letter, there is one individual, Christina B, who is US based, who you can speak with but she doesn't know anything about any files and transfers you back to the offshore team who initiated the fraudulent request for the overage. They are fine if you need a quick loan and you are maybe a restaurant or a business with regular daily transactions. If you are a professional service-based business, RUN. They do not understand how you operate, you will not understand the thick accents of anyone you speak with on the offshore team when an issue may arise, they will not take the time to understand the nature of your business or work with you on a resolution, and you will end up with compounded issues. All of the funds in my account are behind held because I was 9 days ($742) behind. The funds are in the Square account to pay and resolve the matter but cannot be released to even pay them BECAUSE OF BIZ2CREDIT. Do not do business with this offshore company unless you absolutely have to. It could make matters worse for your business. My business will likely close before the end of the year because of how they do business. Proceed with extreme caution.

STAY AWAY - for my first PPP I used Chase -- easy. Second I made the mistake of getting involved with this company. I applied in Feb they quickly lock you in with an e-tran number so you can't apply anywhere else and then disappear. For months no communication except every once they'll email you to redo a task or upload the same doc you uploaded five times already. Here is the kicker - they withdrew my app with no explanation the day before the PPP ran out. So now I'm out of luck because they wouldn't get back to me for moths. Oh and if you call them -- no one answer the phone. They did actually call me today -- 5/5/21 probably because I sent them a copy of the complaint I sent to my congressman. To add insult to injury they called me from a spoof number - we had a bad connection and when the guy called me back he went from California to New York -- on the same number. SHADY.

Applied for PPP Feb 15. SBA number received Feb 20. File kept going back and forth between "Information under review" and "More information needed" even though I had uploaded everything. Took almost 3 weeks to get a hold of someone over email, and they asked me for something I had already given. Finally got someone on the phone on APRIL 20 who went through all my documentation with me and confirmed everything was there. Then on April 23, I logged in to an "Application Withdrawn" status after I did NOT withdraw the application, and was not notified of anything by them. Look on Reddit, their FB page, Twitter, etc...they are screwing up PPP for many small businesses. UPDATE: For anyone reading this: Biz2Credit did NOT get my PPP funded. I was finally able to get my SBA number deleted, and did a completely new application through Harvest Small Business Finance, and got the PPP funded within 72 hours of application. Biz2Credit completely failed, and I was lucky I was able to send in the application through someone else after the massive, massive failure that they subjected so many people to.

Attention Business Owners: Do NOT use Biz2Credit for any form of loans and funding. Avoid them, I’m serious. After being approved by them in early February & receiving a loan number, they had me in limbo waiting for the actual funding for about a month. Then guess what? They changed their minds and declined me. After a month of having me sitting there waiting thinking I was approved. Biz2Credit is a poorly run company with no values. Their processes are faulty, their customer service reps do not speak English and do actually have real answers about what’s going on at the company, and that funding specialist, Sam Parker, you see on your dashboard doesn’t really exist. Try to email him and see. The recent positive reviews on here are fake. NO ONE is having a good experience with them. And that generic response they’re using to respond to all the bad reviews, “Hi (name), we're sorry to hear that you've had trouble during your funding request with Biz2Credit. We are proud to be helping 150,000+ business owners get access to the PPP…” just even more proves that they don’t actually care about the customers, not even enough to give individual responses. They’re just trying to save face. If you need funding, you need to run in the opposite direction of Biz2Credit. Instead look into ReadyCapital or A10 Capital. Far better experiences. If you are looking at this review, because you’ve already applied with them and are now concerned because of the issues you’re facing. Contact them immediately and have them withdraw your application. IMMEDIATELY. Once it’s withdrawn, apply with another company. IMMEDIATELY. Save yourself.

Wish I could give 0 stars. STAY AWAY! Biz2credit submitted our PPP loan to the SBA and got approved. It's now been 13 business days; 18 calendar days since they got the SBA approval, and they haven't funded the loan, nor are they responsive to my 6 emails or repeated calls. Because they got the loan approved through the SBA, I'm unable to apply through any other lender, and my time to apply is running out. They're actually in violation of the SBA terms, yet there's no one to reach to cancel my application or get clarity on how I can move the process along. I'm now at risk of not getting a 2nd PPP loan, despite other lenders willing to fund me. OUTRAGEOUS!

I submitted my PPP loan application to Biz2Credit on 2/6. I received SBA approval and SBA loan number on 2/8. Loan application accepted by SBA on 2/11. On 2/15 my PPP Loan Status changed to More Information Needed status. No requests to date have come from Biz2Credit for more information. No one has contacted me at any point in this process. This is a simple straight forward loan, and I have uploaded all required documentation. Since I started this PPP process with Biz2Credit, I have never received any human interaction from them despite my emails to my Funding Specialist, Support, Contracts, and a Senior Funding Specialist. Either my PPP loan has fallen through the cracks amongst the huge volume they are processing, or I am simply being ignored. I was forced to file a BBB Complaint on 2/21, and I truly hope that Biz2Credit steps up and funds my approved PPP loan. It is shame I had to file the complaint. I had no choice as I can not reach the company via email or phone. I have not heard back from anyone at Biz2Credit for 17 straight days now. So I am quite concerned if I will be funded at all. I am currently waiting to hear back from Biz2Credit regarding my BBB Complaint.

The company is completely unresponsive for weeks! Please stay away! Biz2credit have summitted my PPP round 2 application. I have requested them to withdraw my application from the SBA, as they are the only entity that can do that, however I did not get any response nor my application has been withdrawn. I have been trying to get in touch with their customer service for over a week now, calling, emailing and nothing. Only automated responses and voicemails. As of now I am stuck and cannot get a PPP 2 loan until they withdraw my application! I cannot submit a PPP application with a different lender as it gets rejected by the SBA since they are not withdrawing MY application! That is ridiculous. Their delay and service is hurting my business tremendously and I would not wish anyone to go through what I am going. All I am asking them is to withdraw my application and they cannot even do that? Where is their customer service?

Biz2credit was beyond what I expected. They web above and beyond to make sure all my questions were answered and where with my helping ever step of the way .

The staff at Biz2credit is very professional. I received my PPP funding very very fast. They communicated every step of the ways. I will always use Biz2credit. Thank you

While the early road to funding was somewhat frustrating, very impressed by how Biz2credit responded to such a challenging situation. Overall - very glad I choose to go with them as opposed to my bank.

What an easy process! The first round was so confusing. It was great to be able to rely on my CPA to prepare the application and guide us along the way.

Biz2Credit made the process of getting a PPP loan very easy and quite fast! I was really impressed with the whole process—I highly recommend working with them!

Fastest approval and funding compared to any other fintech company or traditional bank. I was approved and funded while my other applications sat in limbo.

Great experience got my ppp loan in about a week and a customer service rep walked me through the process to avoid mistakes that would have caused delays highly recommend