How can I upload ACH information?
ACH, or automated clearing house, is an electronic network used for transferring payments. Using the ACH network allows Biz2Credit to direct deposit funds into your business account when the funds become available.
ACH set up can be accessed in the application flow. Once your loan application is accepted by the SBA, your dashboard will show an action button 'Add ACH Details.' You will have 10 days to complete this step. ACH details are needed to move forward to loan verification and closing.
To add details: upload a voided check. You can also provide a bank direct deposit letter with the account and routing number. The name on the account used for ACH deposit must match the business information entered on your application. For loan amounts over $75,000 borrowers must attach a bank statement corresponding to the voided check or bank direct deposit letter.
Borrowers can edit saved ACH details. Update ACH details by clicking "View ACH Details" in the dashboard to access "Your ACH Details" page.