Bizcap, a financial technology company founded in Australia in 2019, secured a $175 million credit line with a U.S. institutional credit manager to expand its loan portfolio for small and medium-sized enterprises in the United States and Canada, with Miami serving as its North American headquarters.
According to refreshmiami, the company, which claims to have channeled over 5 billion dollars to more than 100,000 businesses in eight countries, is relocating its North American headquarters to The Well, in the village of Bay Harbor Islands, Miami-Dade, where it has signed a long-term lease for nearly 15,000 square feet of Class A office space.
The establishment has around 100 employees, and according to co-founder and co-CEO Albert Gahfi, all new hires in the U.S. will be made in Miami.
"South Florida is rapidly becoming a major financial hub. Banks, financial firms, and fintechs are arriving and establishing large operations in the region. Miami has the right people and talent right here, making it the perfect base for our growth in North America," stated Gahfi.
The announcement comes at a time when Miami is home to over 500 fintech companies, and the sector attracted $909 million in 85 venture capital deals during 2025, the highest volume of any industry in South Florida.
What a business owner should know before signing
The Bizcap model—and that of quick loan fintechs in general—promises decisions in just three hours and capital available the next day, with financing of up to two million dollars per business. This speed comes at a cost that is not always clearly outlined in the contract.
Instead of an annual interest rate, these companies apply a "factor rate": a fixed charge on the borrowed capital. A factor of 1.30 on a $100,000 loan means repaying $130,000, with daily or weekly payments debited directly from the business account. When converted to an equivalent annual percentage rate, that financing can range from 40% to 350%, according to industry sources; documented cases have exceeded 700%.
CNBC reported that some businesses end up returning approximately double the capital received, and the Wall Street Journal documented a case with an effective financial cost close to 2,000%.
Daily or weekly fixed payments can strain cash flow during sales declines, and the accumulation of multiple simultaneous advances — a practice known as "stacking" — exacerbates the risk.
Cheaper alternatives, from lowest to highest cost
Before turning to a fintech, entrepreneurs in Miami-Dade have more cost-effective options that are worth exploring first.
- Grants and non-repayable public programs: el Mom and Pop program of District 9 of Miami-Dade ofrece hasta 5,000 dólares; la Miami Downtown Development Authority entrega hasta 50,000 dólares para negocios establecidos y hasta 25,000 para startups tecnológicas; y el CDBG-SPED program of Miami-Dade ofrece préstamos condonables de hasta 100,000 dólares para empresas que creen empleos permanentes.
- SBA Loans: The 7(a) programs reach up to five million dollars; the 504 goes up to 5.5 million (only for fixed assets); and Microloans up to 50,000 dollars. The process takes between 20 and 60 days, but the rates are significantly lower than those in the market.
- Fintechs like Bizcap: capital in 24 hours, but with the highest effective cost among all options.
To guide you before signing any contract, the FIU SBDC (305-779-9230) offers confidential and free business consulting in Miami-Dade and Monroe County; in 2025, it assisted nearly 1,400 small businesses with over 13,000 hours of complimentary advice.
The context is significant: 73% of small businesses in Miami reported difficulties due to rising costs of supplies and wages, 55% noted weak sales, and 54% faced challenges in covering rent, with commercial prices exceeding 100 dollars per square foot in many areas.
The speed of a quick loan can be tempting, and its cost can be devastating if the business does not generate enough cash flow to cover daily debts.
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