Here are some of the most frequently asked questions we get asked. Can’t find the answer? Get in touch with us on the webchat or email us at firstname.lastname@example.org
We’ve created a calculator to help you work out how much a loan might cost, as well as how much you may be able to afford based on your profits.
We have a formal panel of over 70 lenders that we introduce clients to. We’ve carefully chosen an extensive selection of the best lenders to work with based on reputation, governance, ability to deliver and product range. Our lenders include High Street banks, leading alternative finance providers, peer-to-peer lenders, challenger banks and specialist lenders.
Our Business Finance Specialists are all experts in the field with extensive experience in helping businesses and property professionals find the right finance. On average the team has 20 years banking experience. Our specialists will take the time to understand your business and requirement and help structure a proposal to obtain the best finance offers possible. They’ll then be on hand to help you every step of the way.
We don’t undertake credit searches, so applying to us will not affect your credit score. When we approach lenders they will undertake either “soft” or full credit checks, but typically no more than two full credit checks will be carried out during this part of the process.
You can check your credit file via our partners checkmyfile.com
Our platform is 100% free for businesses looking for unsecured finance (unsecured business loans, asset finance, invoice finance and business credit cards). Currently for government-backed CBILS loans we charge a success fee of 1% of the loan amount. Where property is used as security we charge 1% success fee if the transaction completes. We believe this offering provides exceptional value for money.
Our revenue predominantly comes from commission from lenders if they arrange a finance facility. BIZL provides a great way for lenders to find good quality businesses that they want to help, and more often than not we’re a more cost-effective route for acquiring quality new customers than spending lots on direct marketing.
We’re big advocates of transparency, so if you would like to know exactly how much we will earn by helping arrange your finance, then just ask.
For more complex transactions we also charge the client a success fee.
When lenders quote through our platform they typically offer the same pricing and terms that you would get if you went direct. Very often by using BIZL our customers can get exclusive rates that are not normally available by going direct, as we can get certain lenders competing against each other for your business.
Take a read of our guide on raising finance without giving a personal guarantee.