What are the costs involved?
Application is free and fees are charged only when funds are disbursed
- There are no fees for application or assessment of your financing request. We charge a processing fee upon the successful disbursement of your loan, to cover our efforts in conducting the relevant credit and KYC checks
- As the processing fee depends on many factors such as the financial product, complexity, and quantum, we can only narrow down the range upon the submission of documents during your application
What are the fees charged for the different type of credits?
- It is absolutely free to open a BizBank Account and to get your credit limit accessed
- There are no monthly fees until you withdraw the money in the business line of credit. The fees are only charged on the amount used. You will always be able to preview your repayment schedule before committing to a withdrawal
The fees differ depending on the financial health of each business and based on the credit type. Our credit team assesses your bank statements to determine your risk grade and in turn, your credit limit, interest rate, and processing fee
Sign up for a complimentary credit assessment here!
Below are a few examples of the pricing range:
- Processing Fee: 1 - 4% upon the successful disbursement of your loan
- Interest Rates: It is based on the type of loan applied : a) Business Line of credit: 1%- 8% b) Invoice Discounting: 6% - 9%