Their system knew when it was time for me to apply for forgiveness, and sent out notifications to ensure I wasn’t forgetting. When I began the process, I was shocked by how simple it was. I thought for sure I wasn’t fully understanding what I needed to do; the simplicity was almost a little scary, because when are things ever just so easy?
Thanks to Biz2Credit, we were able to complete and submit PPP loan applications and forgiveness forms for several of our LLC’s in record time and we highly suggest other small business owners to utilize their services whenever necessary!
In the end, I decided to once again trust that their website was guiding me correctly, and that was the right decision. Within days of submitting the forgiveness application, I received notification that the PPP loan was forgiven. I am very grateful to the entire Biz2Credit team, and Anurag in particular, for guiding me so clearly through the applications and obviously watching over the entire process on their end, even if I never got to talk to anyone or see any of the behind-the-scenes effort that surely went into every single application.
Due to the emergency regulations from COVID-19 and the subsequent revenue loss, our small businesses took a huge hit as our small retail locations saw heavy decreases in sales from day to day. We’ve utilized PPP portals from other financial institutions that we bank with, but those paled in comparison to Biz2Credit! Just to highlight their incredibly functionality, I’d like to take some time to include some bullet points on their strengths (and weaknesses.
-Portal allowed applications for multiple LLCs under single username: We encountered several issues with other (unnamed) financial institutions due to their restriction against opening up multiple applications under a single email. Biz2Credit, however, allows more than one application to be completed and submitted under a single email address, making it incredibly easy for us to consolidate our applications and keep ourselves organized. We wish we had known to use Biz2Credit during the first PPP round as it would have saved us a lot of headache from the difficulties of keeping organized with each respective LLC and email address.
After we signed all our closing documents, it took only 2-3 days for the loan amount to deposit directly into our account!
-Incredibly fast submissions and responses: Any applications submitted through Biz2Credit were reviewed incredibly fast, and any changes required were noted clearly on the application in their PPP portal. Since their response and review time was so fast, our PPP loans were submitted in record time, and even their forgiveness forms were done and forgiven in a blink of an eye! To compare, Biz2Credit’s submission process took about pop over to the web-site 3-7 days to finish with all necessary changes and edits, and their forgiveness process only took about 4 days; but other financial institutions took much longer to review and ask for changes, so an application at another place would take about 7-14 days or longer, and our forgiveness forms took about the same.
-Simplified and lean process: We really wish we used Biz2Credit right away, their portal was much more simplified and eliminated excessive and unnecessary reports and document uploads! Instructions from other institutions were too vague, oftentimes we included documentation for something that did not need to be documented, which aggravated an already long processing time. Biz2Credit made their process lean, their no frills portal left no room for doubt or misinterpretation, making it easier for us to submit everything and faster for them to review!
-(Almost) Instant Deposit: We were astounded by how incredibly quick the deposit was for our PPP loans. This was especially valuable, especially during the financial uncertainty in 2020 and 2021. We were bracing ourselves and our employees for possible wage stagnation or bonus reductions, but Biz2Credit truly gave us the ability to insure our employees that they would not only receive the entirety of their wages and bonus income, but would also continue to implement promotions and wage increases during the pandemic!
