Biz2X

Biz2X is the B2B lending software platform launched in 2019 by Biz2Credit, a New York small business finance company founded in 2007. Biz2X is headquartered at 1 Penn Plaza in New York with further offices including Noida, India, and is sold to banks and financial institutions rather than to borrowers. It addresses the cost and cycle time of underwriting small and midsize business credit.

The white-labelled SaaS platform has four module groups: digital loan origination, decisioning and risk automation, embedded finance, and portfolio monitoring. It supports business term loans, lines of credit, business credit cards, SBA loans, trade finance, commercial real estate lending and business account opening. Biz2X states that about $8bn in funding has been processed through the platform and that it holds three patented fintech solutions. Named clients include HSBC in Canada, KeyBank, Popular Bank, Central Pacific Bank, BayFirst, Owners Bank, TAB Bank and Australian Finance Group.

1. Digital loan origination: white-labelled application and document collection for SME borrowers.

2. Decisioning and risk automation: rules and analytics that Biz2X reports cut decisioning time by 40%.

3. Portfolio monitoring: post-disbursement tracking that the company links to about a 10% reduction in defaults.

4. Embedded finance: lending journeys placed inside partner and marketplace platforms.

5. Product coverage: SBA loans, term loans, lines of credit, business cards, trade finance and commercial real estate.

6. Track record: about $8bn in funding processed through the platform and three patented solutions.