At a Glance
Rating Breakdown
Performance Overview
Scores out of 5, based on our editorial analysis
About BizFi
Founded in 2005 and headquartered in New York City, BizFi operates as both a direct merchant cash advance funder and an online lending marketplace, a dual model that gives it flexibility most competitors lack. The company has moved over $2 billion in funding to small businesses across the United States through a combination of direct balance-sheet funding and connections to a network of third-party lending partners. Originally operating as 1st Merchant Funding, the company rebranded to BizFi as it expanded from pure direct funding into the marketplace model. BizFi's marketplace model is its primary differentiator and the reason a business might choose them over applying to a single direct funder. When you apply through BizFi, your application is simultaneously analyzed against BizFi's own underwriting criteria and submitted to their network of lending partners. Within hours, you receive multiple competing offers from different funding sources, each with their own factor rates, advance amounts, and repayment structures. This competitive bidding dynamic can drive rates down because funders are competing for your business rather than making a take-it-or-leave-it offer. BizFi assigns a dedicated financing advisor who walks you through each offer, explains the differences, and helps you select the option that best fits your situation. Through the marketplace, BizFi can connect businesses with MCAs, term loans, lines of credit, SBA loans, invoice factoring, and equipment financing. The downsides are transparency and cost. Because BizFi operates as a marketplace, your application data is shared with multiple third-party funders, which raises privacy considerations that direct-to-lender applications do not. Factor rates through the marketplace can vary widely (1.10 to 1.50) depending on which funder wins your business, and the marketplace model introduces intermediary costs that may not be present when going directly to a funder. BizFi's B+ BBB rating is lower than top-tier competitors like OnDeck (A+) or Kapitus (A+), which suggests mixed customer experiences. However, for businesses that have been declined by individual funders or want to comparison-shop without submitting separate applications to a dozen companies, BizFi's one-application-multiple-offers model saves significant time and often surfaces funding options the business would not have found on its own.
Key Features
Marketplace Model
One application is submitted to multiple lenders simultaneously, generating competing offers that allow you to compare rates and terms before committing.
Direct Funding Available
BizFi also funds advances directly from its own balance sheet, giving it the flexibility to fund deals that its marketplace partners may decline.
Wide Range of Products
Through its marketplace, BizFi connects businesses with MCAs, term loans, lines of credit, SBA loans, invoice factoring, and equipment financing.
Business Financing Advisor
Each applicant works with a dedicated financing advisor who helps evaluate offers, explain terms, and guide the selection process.
How It Works
Single Application
Complete one online application that is shared across BizFi's direct funding arm and its network of lending partners.
Multiple Offers
Receive competing offers from multiple funding sources, allowing you to compare factor rates, advance amounts, and repayment structures.
Advisor Consultation
Work with a BizFi financing advisor who explains each offer, highlights the differences, and helps you select the best option.
Choose & Fund
Select the offer that best fits your needs, sign electronically, and receive funds within 1-3 business days.
What They Do
- Merchant Cash Advance
- Term Loans
- Line of Credit
- SBA Loans
- Invoice Factoring
- Equipment Financing
Debt Types They Take On
- Merchant Cash Advance
- Short-Term Loan
- Revenue-Based Financing
- Working Capital
- Invoice Factoring
- Equipment Financing
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Clothing Retailer Seasonal Inventory After Two Declines
A clothing retailer in the Bronx doing \$48K/month in revenue with seasonal spikes to \$85K in November-December needed \$75K for fall inventory. Two direct MCA funders had declined the deal because the monthly revenue fluctuated between \$32K (summer lows) and \$85K (holiday highs), and their automated underwriting systems flagged the inconsistency as high risk.
Trucking Company Equipment Financing Match
A small trucking company in northern New Jersey with 4 trucks generating \$110K/month needed \$250K to purchase two additional Freightliner Cascadias. The company had been quoted 1.35 to 1.42 factor rates by MCA providers, but the owner wanted to explore equipment financing where the trucks themselves could serve as collateral to reduce cost.
Pros & Cons
Pros
- One application generates multiple competing offers from different funders, saving the time of applying separately to each
- Dual model provides both direct BizFi funding and third-party marketplace matches, increasing the odds of approval even after individual declines
- Wide range of financing products beyond MCAs including term loans, SBA loans, invoice factoring, and equipment financing through marketplace partners
- Dedicated financing advisors walk you through each offer and explain the differences, which is valuable for first-time borrowers
- Competitive bidding among funders can drive factor rates lower than you would receive from a single direct application
Cons
- Marketplace factor rates can range as high as 1.50, meaning the worst offers through BizFi may be more expensive than going to a competitive direct funder
- B+ BBB rating is lower than top-tier competitors like OnDeck (A+) or Kapitus (A+), suggesting mixed customer satisfaction
- Application data is shared with multiple third-party funders, raising privacy considerations that do not exist with direct-to-lender applications
- Marketplace intermediation may add broker fees or commissions that are not always transparently disclosed to the borrower
User Reviews (29)
impressed
Third advance with BizFi. They keep dropping my rate. $5K this time.
decent but expensive
they were ok
never ever again
Save yourself the headache, stay far away from BizFi. Desperate for supplies money and they took advantage. $25K at 1.30. Now I'm in worse shape.
solid but not perfect
got the money fast
overpriced and slow
never again
exactly as advertised
worked for us
impressed
Shoutout to Alicia for making this painless.
clutch
Omar picked up every time I called. That alone is worth 5 stars imo.
clutch
Didn't think I'd get approved bc my credit is garbage but BizFi looked at my bank statements and said yes. Got $45K for my IT consulting firm. Carlos was super helpful.
solid option
Overall positive. $7,500 for my auto shop. Stephanie was responsive. Wish they had weekly payment options.
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Frequently Asked Questions
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Related Companies
Important Merchant Cash Advance Disclaimers
- A merchant cash advance is not a loan. It is a purchase of future receivables at a discount. Factor rates, not APRs, are used to express the cost of capital. Effective APRs on merchant cash advances can range from 40% to over 350% depending on the term and factor rate.
- Repayment is typically collected daily or weekly via automatic ACH debits or a percentage of credit card sales. This means your repayment amount fluctuates with revenue but withdrawals occur every business day, which can strain cash flow during slow periods.
- Most MCA agreements require a personal guarantee from the business owner. In the event of default, the MCA provider may pursue the owner's personal assets, including bank accounts and property.
- MCA providers commonly file UCC-1 liens against your business assets. This lien may prevent you from obtaining additional financing until the advance is fully repaid and the lien is released.
- Merchant cash advances are not regulated by federal lending laws such as the Truth in Lending Act (TILA). State regulations vary widely, and some states have limited consumer protections for MCA products.
- Stacking multiple merchant cash advances (taking a second advance before the first is repaid) significantly increases the risk of default and can lead to aggressive collection actions including confessions of judgment in some jurisdictions.
- Zogby does not provide merchant cash advances or business financing. We are an independent comparison service. We do not fund advances, process applications, or guarantee approval on your behalf.
This page is informational, not financial or legal advice. Talk to a qualified professional before making any big money decisions.
Editorial Independence
We make money from some companies on this page. That doesn't change our rankings -- the editorial team scores every product independently, and the business side has no say in what we recommend.