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LAST UPDATED: September 10th, 2019

Bizfi is a third party lender that works with alternative lenders rather than banks to provide small businesses with loans. Bizfi works with companies such as CAN Capital, OnDeck, Kabbage, and more. If you already know you want to work with one of these companies, we recommend borrowing directly from the lender. Bizfi may overcharge for loans to cover commission. Bizfi's parent company, Merchant Cash and Capital (MCC), states it has provided over $1.3 billion in financing to over 26,000 companies since 2005. Consumers that choose Bizfi should remember that they must have a credit score of 550 or higher.

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The Good

  • Large Growth
  • Simple Application
  • Approval
  • National Service

Large Growth

Bizfi has branched out from the short-term funding its founding company MCC provided. In an interview with Crowdfund Insider in 2015, MCC and Bizfi founder Stephen Sheinbaum explained that the company has seen a 79 percent growth in funding provided to small businesses from the second quarter of 2015 versus the second quarter of 2014. The funding options Bizfi offers include lower interest options, such as SBA loans that are backed by the U.S. government. If businesses qualify for funding offers from more than one company, Bizfi shows applicants all of the funders and their funding terms, so business owners can compare payment options before selecting the loan they want.

Simple Application

You apply once for funding through Bizfi and you get a report of what types of funding are available for your business. You use Bizfi's portal to download the funding contract and upload the documents you are required to provide. Once you are approved for funding, you can use Bizfi's portal to view your payment terms, contact your assigned Bizfi funding specialist, and apply for additional funding.


Bizfi states you can be approved instantly and receive some types of funding in as little as 24 hours. Businesses can receive funding for medium-term loans in 1-2 weeks and for SBA loans in two to four weeks.

National Service

Bizfi is not limited to providing funding to certain states. The company's website also states it has located funding for nearly every type of industry since its parent company was founded in 2005.


The Bad

  • Funding Costs
  • Staff Questions
  • Limited Information on Loans
  • Lack of Education

Funding Costs

In an interview with Forbes, Sheinbaum said Bizfi charges a 3 percent commission for arranging funding, which is added to the cost of the financing, but the funding companies that partner with Bizfi may also charge fees.

Staff Questions

Bizfi also claims to partner applicants with a "funding concierge" who will assist them with selecting a financing option, but there is no information on Bizfi's website about its staff, their level or education, or their experience in the small business financing arena, so business owners cannot be sure they are working with experienced and qualified personnel.

Limited Information On Loans

Before they apply for a loan, customers should be able to access information about the rates and any fees they may be charged when applying for funding through Bizfi. With the scarce information the company includes on its site, it is not possible to determine if Bizfi provides affordable funding sources compared to other online funding marketplaces. Information the company should consider adding to its website includes:

  • Interest rates for each type of loan
  • Prepayment penalties
  • Fees (origination, closing, etc.)

Lack of Education

Bizfi's portal is a good place to include information about how and when businesses should use loans and other forms of credit. Bizfi' could also educate business owners about how their personal credit scores and credit histories can impact their businesses' ability to borrow.


The Bottom Line

With its variety of financing options, we recommend filling out an application with Bizfi to determine the types of financing that are available to your company. Bizfi's online portal offers small business owners a quick and easy way to access funding options from a variety of lenders. The company can assist with locating funding for businesses that have been in operation for a little as three months and that have very small monthly revenues. Bizfi can even locate funding for businesses whose owners have poor or no credit ratings. For businesses with a longer track record and business owners with good credit scores and credit histories, Bizfi can help you apply for lower interest rate funding options, such as SBA loans. If you apply for financing from Bizfi's portal, be aware that the company charges a 3 percent commission fee to provide this type of streamlined financing options, but if you need funding fast or want to look at a variety of funding options, using Bizfi's online portal is an attractive option.

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Simon Ghandil Virginia Beach, VA

TERRIBLE SERVICE. After hearing from my optimistic specialist, I was told I was denied because underwriters thought it was suspicious that my name was the name of my company on the statements. There were a lot of false accusations, and was told the only way to get around this was to get my online bank log in info. RED FLAG. My specialist (John) went as far as to accuse me of having fraudulent documents when I told him I was not going to give them my log in information and proceeded to be extremely rude and hang up the phone. Overall the service was TERRIBLE. I cannot believe I was asked to hand over my information, then cursed at and hung up on when I denied. Just because someone isnt going to hand over their online bank information over the phone does not mean they are a fraud.

7 years ago

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DG Calabasas, CA

Red Flag! Couldn't get anyone on the phone on my initial phone call to explain how they work. Had to leave my number???? Next!

6 years ago

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dimitir Staten Island, NY

fraud and scam, you can't contact they try to sue you for more money

7 years ago