Credibly Definitive Review (2025)

Credibly Ultimate Guide

We spent several hours testing Credibly and researching what its customers are saying online. We've compiled the Credibly Reviews into a single and ultimate guide: here's everything you need to know about the company.

Who is Credibly?

Established in 2010, Credibly has positioned itself as a direct lender focused on providing small to medium-sized businesses.

Unlike traditional banks that focus primarily on credit scores and collateral, Credibly takes a data-driven approach to evaluate a business's overall health and potential.

Credibly's speed is one of its greatest strengths. The company stands out by offering approval as fast as 2 hours and funding as quick as 4 hours. This means at least 6 times faster than the industry average.

If this isn't enough, Credibly shows a real commitment to understanding your business needs. They don't just offer loans, they work with you to find the right financial solution that aligns with your short-term needs and long-term goals.

Credibly Requirements

To qualify for Credibly's financing options, your business needs to meet some basic requirements:

• Time in Business: Minimum of 6 months

• Credit Score: 500+ (varies by loan product)

• Monthly Revenue: From $15,000 ($180,000 annually)

• Documentation Needed: 3 months of bank statements and a government-issued ID

• Business Location: Must be operating in the United States

• Banking: Revenue must be deposited into a business bank account

It's worth noting that these are the minimum requirements for their most accessible products. Some financing options, like their business line of credit or long-term loans, have higher eligibility thresholds:

• Business Line of Credit: 675+ credit score, $20,000+ monthly revenue

• Long-Term Loans: 700+ credit score, 2+ years in business, $500,000+ in yearly deposits

Who is Credibly For

Okay, Credibly already seems like a good option for you, right? However, each entrepreneur has their own needs, what means that the ideal loan can be different.

But don't worry, we've got you covered. Here is the ideal profiles for Credibly borrowers:

• Small to Medium Businesses with Steady Revenue: With a minimum monthly revenue requirement of $15,000, Credibly caters to established businesses that have proven their ability to generate consistent income. These businesses can leverage Credibly's funding to manage cash flow gaps or fuel growth.

• Business Owners with Less-Than-Perfect Credit: Traditional banks often require credit scores of 680 or higher, but Credibly's minimum credit score requirement of 500 for some products makes them accessible to entrepreneurs who have faced personal financial challenges. This is a good deal because your business performance matters more than your personal credit history.

• Businesses Needing Quick Capital: When opportunity or emergency strikes, waiting weeks for bank approval isn't feasible. Credibly's same-day funding can be a lifesaver for businesses that need to act quickly to purchase inventory, replace equipment, or capitalize on a time-sensitive opportunity.

• Growing Businesses Seeking Expansion Capital: For companies with 6+ months of operation that are ready to expand, Credibly provides access to growth capital without the stringent requirements of conventional lenders.

• Seasonal Businesses: If your business experiences significant fluctuations in revenue throughout the year (like retail during holidays or landscaping companies during spring/summer), Credibly's merchant cash advances offer flexible repayment based on your daily sales. This means you'll pay less during slow periods, reducing financial strain.

• Service-Based Businesses: Professional services, restaurants, retail stores, healthcare providers, and similar businesses with regular customer transactions are particularly well-suited for Credibly's financing options, as their steady cash flow aligns with repayment structures.

• Companies That Value Personalized Service: Businesses that appreciate working with financing partners who take the time to understand their specific needs and challenges will find Credibly's customer-centric approach refreshing compared to the impersonal nature of traditional banking relationships.

On the other side, don't think of Credibly as a solution if your business looks more like:

• Brand new startups with less than 6 months in business

• Businesses with monthly revenue below $15,000

• Businesses that would struggle with daily or weekly payments

To help you better understand the best option for your current needs, check out this comparation between Credibly and other financing methods.

Feeling confident that Credibly's support can help you through your business challenges? Try a free pre-qualification in minutes.

Business Loans Available at Credibly

Credibly serves over 1,000 industries, so they probably can help your business. Let's detail Credibly's offerings.

Working Capital Loan

Credibly's working capital loans provide quick access to cash for day-to-day business operations, inventory purchases, marketing campaigns, or unexpected expenses. These short-term loans are designed to help stabilize cash flow and meet immediate business needs.

• Loan amounts: $25,000 to $600,000

• Terms: 6 to 24 months

• Factor rates: Starting at 1.11

• Origination fee: 2.5% of the total loan amount

• Repayment schedule: Automatic daily or weekly payments

Pros

• Fast funding, with approval in as little as 4 hours and same-day funding available

• Simple application process with minimal documentation required

• Available to businesses with credit scores as low as 500

• Funds can be used for any legitimate business purpose

Cons

• Higher cost compared to traditional bank loans

• Includes a 2.5% origination fee

• Shorter repayment terms mean higher periodic payments

Merchant Cash Advance

A merchant cash advance (MCA) from Credibly is not technically a loan but rather the purchase of your future credit and debit card sales. This financing option provides upfront capital in exchange for a percentage of your daily sales, making it an excellent choice for businesses with fluctuating revenue.

• Advance amounts: $5,000 to $600,000

• Estimated duration: 3 to 24 months

• Factor rates: Starting at 1.11

• Underwriting fee: 2.5% of the advance amount

• Administrative fee: $50 monthly

• Repayment: Automatic daily or weekly remittances based on a percentage of card sales

Pros

• Flexible remittances that adjust with your business revenue

• Quick access to funds with minimal paperwork

• Lower credit score requirements make it accessible to more businesses

• No fixed payment schedule, so you pay less during slow periods

• No collateral required beyond future sales

Cons

• Can be more expensive than traditional loans

• Includes a $50 monthly fee

Business Line of Credit

Offered through Credibly's partner lenders, a business line of credit provides revolving access to funds up to your approved limit. Similar to a credit card but with potentially higher limits and lower rates, you only pay interest on the amount you actually use.

• Credit limits: $5,000 to $300,000

• Terms: 3 to 24 months

• Interest rates: 3-5% monthly interest rate

• Repayment: Weekly or monthly payments

Pros

• Flexible access to capital when you need it

• Only pay interest on the amount drawn

• Revolving credit: as you repay, funds become available again

• Lower interest rates than business credit cards

• No need to reapply once approved

Cons

• Requirements: Needs a higher credit score (675+) and monthly revenue ($20,000+) than other Credibly products

• May require personal guarantees or collateral

Long-Term Business Loans

Available through Credibly's lending partners, long-term business loans provide substantial financing with extended repayment periods, making them ideal for major growth initiatives and significant business investments.

• Loan amounts: $50,000 to $10,000,000

• Terms: Up to 120 months (10 years)

• Repayment: Monthly payments

Pros

• Lower monthly payments due to extended repayment terms

• Larger loan amounts available for significant investments

• Monthly payment schedule easier to manage for many businesses

• Fixed interest rates provide payment predictability

• Funds can be used for long-term growth initiatives

Cons

• Stricter qualification requirements

• Longer application and approval process

• May require collateral or personal guarantees

• Higher total interest cost over the life of the loan

Equipment Financing

Through Credibly's partner network, equipment financing helps businesses acquire necessary machinery, vehicles, or technology without large upfront cash outlays. The equipment itself typically serves as collateral for the loan.

• Financing amounts: Up to $10 million

• Terms: 12 to 60 months

• Collateral: The equipment being financed

Pros

• The equipment serves as collateral, potentially making approval easier

• Preserve cash flow by spreading equipment costs over time

• Potential tax benefits through Section 179 deductions

• Fixed payment schedule for easier budgeting

• May qualify with lower credit scores since the equipment serves as security

Cons

• Limited to equipment purchases only

• May require a down payment

• Could involve additional fees for insurance or maintenance

SBA Loans

Available through Credibly's partner lenders, Small Business Administration (SBA) loans are government-backed financing options that offer favorable terms and lower interest rates compared to many other business financing solutions.

• Loan amounts: Up to $5 million

• Terms: Up to 10 years for working capital, up to 25 years for real estate

• Interest rates: Among the lowest available for small businesses

Pros

• Lower interest rates than most alternative financing options

• Lower down payment requirements than conventional loans

• Counseling and education resources available through the SBA

Cons

• Lengthy application and approval process (30-90+ days)

• Extensive documentation requirements

• Stricter qualification criteria than direct Credibly products

Invoice Factoring

Offered through Credibly's lending partners, invoice factoring allows businesses to convert outstanding invoices into immediate cash by selling them to a factoring company, which then collects payment directly from your customers.

• Advance amounts: Up to 95% of invoice value

• Maximum funding: Up to $400,000

• Fees: Factor rate applied to invoice value

• Term: Until invoice is paid by customer

• Immediate access to funds tied up in accounts receivable

Pros

• Immediate cash flow improvement without waiting for customer payments

• Approval based on customers' creditworthiness rather than yours

• No debt added to your balance sheet

• No fixed repayment schedule for your business

• Can scale with your business as invoice volume grows

Cons

• Can be more expensive than traditional loans

• Not all invoices may qualify (based on customer credit)

How to Apply for a Credibly Business Loan

Applying for business financing with Credibly involves a straightforward process designed to minimize paperwork while getting you funded quickly.

Conclusion

Credibly stands out in the business financing market with its accessible eligibility requirements, rapid funding, and diverse loan products. Their data-driven approach evaluates overall business health rather than just credit scores, creating opportunities for businesses traditional banks might reject.

While their financing costs more than conventional loans, with factor rates starting at 1.11, the speed and accessibility justify the expense for many time-sensitive business needs.

Ready to see if Credibly can fuel your business growth? Check your eligibility without affecting your credit score.