Business Finance Services Terms & Conditions

Last Updated: 12/17/2019

1. Applicability and Scope

These Business Finance Services Terms & Conditions ("Terms & Conditions") are applicable in connection with the business funding application ("Request for Funding") submitted by or on behalf of any business on Biz2Credit's website. As used herein, “Biz2Credit” refers collectively to Biz2Credit Inc. and its subsidiaries, including its direct funding subsidiary Itria Ventures LLC.

These terms and conditions are applicable as soon as you submit
your documentation in connection with a Request for Funding

The purpose of these Terms & Conditions is to set out:

  • The representations
  • The authorizations
  • The waivers
  • The obligations, and
  • The disclosures

that each applicant is required to make in order to allow Biz2Credit to obtain credit reports and other information and documents, and to disclose information in connection with a Request for Funding.

In connection with any Request for Funding, each person submitting an application and the business seeking funding (collectively, "Customer" or "you") hereby accepts Biz2Credit's Terms of Service. These Terms & Conditions form a part of those Terms of Service, which together constitute a legally binding agreement between you and Biz2Credit.

2. Terms & Conditions

You further agree that:

  • The information contained in all documents of any kind provided or to be provided, directly or indirectly, to (i) Biz2Credit Inc. and/or (ii) any bank, financial institution, factor, company providing merchant cash advances or receivables financing or other business funding, or other funder (such funders and other funding providers, collectively, "Funders") in connection with or following a Request for Funding"), including without limitation credit reports from one or more consumer or business credit reporting agencies, credit score, credit history, investigative reports, consumer reports, statements from creditors or financial institutions, bank statements, tax returns and credit card statements regarding Customer, and any other business or personal information so provided (collectively, "Information and Documents"), is true, complete and accurate.
  • You authorize Biz2Credit and each Funder to (i) use such credit reports and other Information and Documents to verify your identity and credit history and for the other purposes specified below; (ii) do one or more hard pulls of your (and your business') credit report(s) in connection with any Request for Funding; and (iii) do soft pulls of your (and your business') credit report(s) both in connection with any Request for Funding and thereafter from time to time.
  • You authorize each Funder to conduct background checks and obtain personal and business credit reports from any credit reporting agencies and any other investigative report or statement from any creditor or financial institution, from time to time in connection with any financing at Funder's discretion. You understand that such credit reports and any other Information and Documents as Funder deems appropriate will be used by Funder in making a credit decision.
  • You authorize (i) Biz2Credit to disclose any or all of such Information and Documents to any and/or other third parties that may be associated with any Funder or otherwise involved in the facilitation or provision of the business funding related to your Request for Funding (collectively, "Funder Parties") and (ii) each Funder to disclose any or all of such Information and Documents, and share any or all of such Information and Documents with other Funder Parties in connection with such potential transactions. Customer understands and agrees that Biz2Credit and/or Funders may share and/or retain Request for Funding information and any other information provided by Biz2Credit or received by them, whether or Customer qualifies for a funding or other funding product and whether or not Customer enters into a credit or other transaction. Customer further agrees to notify any Funder directly if Customer no longer wants to receive communications from that Funder.
  • You acknowledge and understand that Itria Ventures LLC ("Itria Ventures"), a Funder that provides a variety of financing products, is a subsidiary of Biz2Credit.
  • Biz2Credit and each Funder and Funder Party shall be entitled to rely upon the accuracy and completeness of such Information and Documents provided by or on behalf of Customer, and Biz2Credit is not responsible for any inaccuracy contained therein that may be incorporated into a Request for Funding.
  • You will immediately notify Biz2Credit if the information contained in any Information and Documents is no longer accurate and/or of any change in any of such Information and Documents or Customer's financial condition.
  • You hereby authorize Biz2Credit and each Funder to request, receive and forward to any Funder and/or Funder Party, as applicable, any such Information and Documents, together with any related information or documents or verification thereof, in each case as they may deem necessary in connection with your Request for Funding.
  • You hereby waive and release any claims against Biz2Credit and each Funder and Funder Party or any provider of credit reports, credit score or other information-provider, together with their respective and each of their respective representatives, officers, directors, employees, agents, affiliates, successors and assigns arising from any act or omission relating to the request, receipt, release or use of any such Information and Documentation (including without limitation the hard or soft pull of credit reports or credit score) in connection with any Request for Funding.
  • You hereby acknowledge and agree that:
    • Biz2Credit is not an agent or broker of Customer or any Funder, provided Biz2Credit has commercial arrangement with Itria Ventures for the use of Biz2Credit's online platform;
    • Biz2Credit does not take or complete applications for credit on behalf of any Funder or make funding or credit decisions in connection with any Request for Funding or related commercial financing;
    • Biz2Credit does not issue commitments on behalf of any Funder;
    • A Request for Funding application constitutes an inquiry to be matched with Funders interested in obtaining funding applications from Customer and will be deemed "completed" only when all required Information and Documents have been submitted as determined by the relevant Funder;
    • A Funder selected by the Customer may require Customer to pay an application or other fee to cover the costs of an appraisal, credit report or other items; and
    • Any application for credit will be subject to final approval by the selected Funder and signed credit agreements and other related documents at Funder's sole discretion.
    • Any credit decision made will be at the sole discretion of the Funder.
  • In connection with any Request for Funding, you authorize Biz2Credit and any Funder or Funder Party to review your bank statements, including via remote online service such as Yodlee.
  • Each Owner/Officer identified above represents and warrants to Biz2Credit, intending to be legally bound, that he or she is authorized to sign this form on behalf of Customer.

3. Changes to Terms & Conditions

This Business Finance Services Terms & Conditions were last modified on December 17, 2019. This document can be revised on the periodic basis to reflect the changes in our business and practices, and so you should review this page periodically. When we change the policy in a material manner, we will let you know and update the 'last modified' date directly above.