Biz2credit
| Company type | Private |
|---|---|
| Industry | Financial services, Fintech |
| Founded | 2007 |
| Founder | Ramit Arora, Rohit Arora |
| Headquarters | New York City , United States |
Area served | United States |
| Products | Small business loans (term loans, working capital loans, commercial real estate financing), financial management software (BizAnalyzer Virtual CFO) |
| Website | biz2credit |
Biz2Credit operates as a digital financing platform dedicated to small enterprises, delivering direct capital solutions throughout the United States. The firm provides a variety of lending products, alongside educational resources like the BizAnalyzer, and releases analytical reports such as the Small Business Lending Index. Its affiliate, Biz2X, runs a software-as-a-service (SaaS) platform designed for business lending.
Utilizing advanced big data analytics and predictive algorithms, Biz2Credit enhances cash flow management strategies tailored for small business clients.
History
Established in 2007 by Ramit Arora and Rohit Arora, Biz2Credit initially functioned as an alternative lending marketplace but pivoted in 2013 toward offering direct loans. Key investors include Nexus Venture Partners and Tata Capital. In 2014, the company obtained a $250 million funding pledge from Direct Lending Investments aimed at broadening its small business loan offerings.
In 2019, Biz2Credit secured $50 million through Series B financing and introduced its global SaaS platform, Biz2X, which was also rebranded that same year.
The company collaborated with CPA.com to create a dedicated CPA portal and rolled out a PPP Loan Forgiveness Tool in July 2020. In response to the COVID-19 crisis, Biz2Credit organized virtual discussions featuring members of the U.S. Congress and launched pppforgivenesstool.com to assist small businesses with PPP loan forgiveness and cash flow challenges.
By December 2020, Biz2Credit began accepting preliminary applications for an additional PPP funding round. As of July 2022, it has facilitated more than $8 billion in loans and financing to small business owners. The company actively engages with the OCC Project REACh initiative and holds membership in the Innovative Lending Platform Association (ILPA), promoting capital accessibility for small enterprises.
Services
Biz2Credit offers online financing solutions through three primary loan categories: term loans, working capital loans, and commercial real estate financing. Interest rates are determined based on borrowers’ financial profiles and applications submitted via Biz2Credit.com. The company’s focus remains exclusively on lending products without providing traditional banking services.
Moreover, Biz2Credit supplies financial management software tools aimed at enhancing small business performance, including the BizAnalyzer Virtual CFO solution.
Operations
Operating from its headquarters in New York City, Biz2Credit employs Amazon Web Services’ machine learning technologies to streamline loan processing by extracting relevant information from submitted documents.
The firm consistently releases proprietary research utilized by journalists, data analysts, and industry associations to assess the economic health of small businesses. Notable publications include the Annual Women-Owned Business Study, Latino-Owned Business Study, Top 25 Small Business Cities Report, and Small Business Industries Report.
Clients
- 2016: Tata Capital
- 2018: HSBC Bank
- 2018: Tally Solutions
- 2019: Andromeda
Partners
- CPA.com & the AICPA
- Paychex
- The Hartford Insurance
- America's Women Business Centers
- Nationwide Insurance
Awards
- 2022, The LIT Commercial Awards: Platinum Award for Commercial & Marketing - Financial Services
- 2022, The American Business Awards: Recognized as Fastest Growing Tech Company & Social Video
- 2022, The Muse Creative Awards: Honors for Advertising Campaign & TV Advertisement
- Named among Best Places to Work in New York
- Recognized as Best Places to Work in Fintech by American Banker
- 2021 Finovate Award: Excellence in Pandemic Response
- Biz2X – IBS Intelligence Global Fintech Innovation Award recipient
- CNBC Money’s Best Small Business Loans Provider, December 2021
- Listed in Top 100 Best Midsize Companies to Work for in NYC, 2021