BizFly Funding is a U.S.-based alternative finance provider founded in 2019 that specialises in quick funding solutions for small and medium-sized enterprises (SMEs). The company operates as a lending marketplace, connecting businesses with private investors and institutional partners to access a variety of unsecured and secured finance options. Primarily serving U.S. businesses, BizFly Funding also accepts enquiries from non-U.S. companies on a case-by-case basis. It is important to note that BizFly Funding is not authorized or regulated by the UK Financial Conduct Authority, so UK applicants may not benefit from UK regulatory protections. Explore more about financing options and the diverse lender marketplace available.
Key Features of BizFly Funding
BizFly Funding offers a range of practical features aimed at facilitating swift and digital business funding, with a dedicated approach to supporting applicants through the process.
- Application is entirely online with e-signature capability for convenience.
- A dedicated funding specialist is assigned to each applicant for personalised assistance.
- Funding decisions are typically made on the same day, enabling rapid access to capital.
- Soft-pull credit checks are used initially, so credit scores are not affected when receiving offers.
- Integrations with popular accounting software like QuickBooks and Xero are supported for ease of drawdowns.
Funding Eligibility
You may qualify for BizFly Funding products if your business meets minimum trading period and turnover requirements that vary by product. Most loans require at least 3 to 24 months of trading history and minimum revenues generally starting from £8,000 monthly or £50,000 to £100,000 annually depending on the finance option. Excluded industries include gambling, firearms, adult entertainment, CBD/cannabis, and illicit substances. UK businesses may face additional legal requirements, with eligibility criteria further detailed in eligibility guides and application tools.
Loan Options
BizFly Funding presents a broad suite of small and medium enterprise finance products, featuring flexibility across amounts, terms, and repayment structures to accommodate diverse business needs.
- Small Business Term Loan: £4,000 to £800,000; terms from 3 months to 5 years; interest rates between 7.0% and 35.0% APR; unsecured up to £250,000 but usually requires a personal guarantee.
- Business Line of Credit: £8,000 to £400,000 revolving limit; terms 6 months to 2 years (renewable); rates from 8.0% to 25.0% APR on drawn balances; personal guarantees required.
- Merchant Cash Advance (MCA): £4,000 to £1,600,000; flexible terms 3 to 15 months; factor rates equating to 35% to 80% APR; repayments tied to card sales volumes.
- Equipment Financing: £8,000 to £4,000,000; terms 1 to 10 years; rates from 4.0% to 20.0% APR; equipment serves as collateral.
- Invoice Financing / Factoring: advances from £16,000 to £4,000,000 per invoice; typical invoice terms 30 to 120 days; discount fees 1.0% to 3.0% per 30 days.
- Startup Business Loan: £8,000 to £200,000; 1 to 5 years term; rates between 7.0% and 25.0% APR; personal credit and guarantee required even without trading history.
- Working Capital Loan: £4,000 to £400,000; 3 to 18 months term; interest from 12.0% to 45.0% APR; typically requires personal guarantees.
- Emergency / Short-Term Business Funding: £4,000 to £320,000; 3 to 12 months term; simple interest 1.5% to 3.5% per month; fast approval and funding with daily repayments possible.
How to Apply
The application process with BizFly Funding is designed for speed and digital completion, with necessary documentation focused on financial and business verification.
- Submit an online application form including financial statements and business details.
- Provide required documents such as business bank statements, government ID, recent tax returns, and a voided cheque as proof of bank account.
- Review of your application typically occurs within 4 hours to 24 hours for most products; SBA loans may take 1 to 2 weeks.
- Electronically sign the loan agreement using e-signature technology to expedite funding.
Funding Agent’s View
BizFly Funding offers a variety of products suited for SMEs needing fast capital or those with less traditional credit profiles. The platform's strength lies in its broad product range and quick decision-making. However, borrowers should consider the generally higher interest rates and personal guarantees required. UK businesses may encounter regulatory and eligibility challenges due to the U.S. focus of the lender and lack of UK FCA regulation. For businesses seeking long-term, lower-cost solutions or UK regulatory safety nets, other providers may be more appropriate. For further insight, view our loan calculators, check your eligibility, or compare business finance options.
