Credibly

Overview

Credibly is a direct lender specializing in merchant cash advances and working capital loans for small businesses, particularly those with lower credit scores or startup status. Known for competitive starting factor rates (1.11–1.15) and flexible eligibility requirements, Credibly has earned high customer ratings on Trustpilot and ConsumerAffairs.

Key Differentiators:

• Low starting factor rates: 1.11–1.15 (among industry’s lowest)
• Credit-flexible: Works with businesses with lower credit scores
• Startup-friendly: Accepts businesses with limited history
• Transparent pricing: Clear terms with prepayment discounts
• High customer ratings: 4.7/5 on Trustpilot, 4.5/5 on ConsumerAffairs

Merchant Cash Advance Details

Factor Rates & Terms

• Starting factor rates: 1.11–1.15 (best rates for strong applicants)
• Typical factor range: 1.15–1.45 (based on credit, revenue, industry)
• Advance amounts: $5,000 – $400,000
• Maximum advance: $600,000 for exceptional businesses
• Holdback percentage: 10–20% of daily sales
• Term length: 6–18 months typically
• Renewal options: Available after 50–60% repaid

Eligibility Requirements

• Time in business: 6+ months (some flexibility for strong revenue)
• Monthly revenue: $15,000+ minimum ($10K+ for e-commerce)
• Credit score: 500+ (emphasis on revenue over credit)
• Bank statements: 3–6 months required
• Industry restrictions: Most standard industries accepted
• Startups: Accepted with strong revenue projections

Funding Speed

• Application to approval: 24–72 hours
• Approval to funding: 1–3 business days
• Emergency funding: Same-day available (higher rates)
• Documentation: Digital submission, minimal paperwork

Other Financing Products

Working Capital Loans

• Amounts: $5,000 – $400,000
• Terms: 6–24 months
• Rates: 8–30% APR (traditional loan structure)
• Use cases: Ongoing working capital, expansion, marketing

Equipment Financing

• Amounts: Up to 100% of equipment cost
• Terms: 2–7 years
• Rates: 8–30% APR
• Collateral: Equipment being financed

SBA Loan Referrals

• Partner network: Access to SBA-approved lenders
• Amounts: $50,000 – $5,000,000
• Terms: 10–25 years
• Rates: 6–13% APR
• Processing time: 30–90 days (through partners)

Application Process

Step-by-Step

1. Online application: Basic business information (5–10 minutes)
2. Document submission: Bank statements, business documents
3. Underwriting review: Revenue analysis, credit assessment
4. Offer presentation: Factor rate, holdback percentage, terms
5. Acceptance & funding: Digital agreement, funding within days

Required Documents

• 3–6 months business bank statements
• Business tax returns (1 year for larger amounts)
• Personal identification (driver’s license, SSN)
• Business license/registration documents
• Credit card processing statements (if applicable)

Cost & Fee Structure

Merchant Cash Advance Costs

• Factor rate fee: Built into total repayment (1.11–1.45 range)
• Origination fee: 0–5% (often 2–3% for standard advances)
• Monthly administrative fee: $100–$300 (for some products)
• ACH return fee: $25–$50 per failed withdrawal
• Early payoff: Discounts available (reduced factor rate)

Comparison to Industry Averages

Customer Experience

Ratings & Reviews

• Trustpilot: 4.7/5 stars (based on 1,200+ reviews)
• ConsumerAffairs: 4.5/5 stars
• Better Business Bureau: A+ rating
• Google Reviews: 4.3/5 stars
• CNBC Select: Rated among top 4 MCA companies (2026)

Common Praises

• Low rates: Starting factor rates among industry’s best
• Flexible eligibility: Works with lower credit/startups
• Transparent terms: Clear pricing and conditions
• Good customer service: Responsive support team
• Fast funding: Many report 24–48 hour funding

Common Complaints

• Monthly fees: Administrative fees on some products
• Revenue requirements: Higher minimum than some competitors
• Limited customization: Less flexibility for unique situations
• Communication: Occasional delays during underwriting

Industry Specializations

Best For These Industries

• E-commerce: Online sales with bank deposit verification
• Restaurants: High credit card volume, predictable cash flow
• Retail: Seasonal businesses, inventory financing
• Service businesses: Contractors, consultants, professionals
• Healthcare: Medical practices, dental offices
• Startups: New businesses with strong revenue projections

Industries With Limitations

• Adult entertainment: Generally not accepted
• Gambling/casinos: Restricted
• Cryptocurrency: Limited acceptance
• Highly regulated: May require additional documentation

Regulatory & Compliance

Licensing & Registration

• Registered: Delaware corporation with nationwide operations
• Licenses: Licensed lender in all 50 states
• Compliance: Follows state lending regulations
• Transparency: Clear APR equivalents provided (when applicable)

Industry Affiliations

• Small Business Finance Association (SBFA): Member
• Better Business Bureau: Accredited business
• Financial Technology Association: Participant

Strategic Considerations

When Credibly Makes Sense

• Startup businesses: Limited history but strong revenue
• Credit-challenged businesses: Lower credit scores (500+)
• Cost-sensitive applicants: Seeking lowest factor rates
• E-commerce businesses: Bank deposit verification preferred
• First-time borrowers: Building financing history

When to Consider Alternatives

• Excellent credit: May qualify for better traditional bank rates
• Very large advances: >$400K may need specialized providers
• Non-standard industries: May need niche lenders
• Complex situations: Require highly customized solutions

Contact Information

Primary Contact

• Website: credibly.com
• Phone: (800) 450-8942
• Address: 2950 S. Industrial Dr., Suite 100, Las Vegas, NV 89109
• Email: info@credibly.com

Application Portal

• Online application: credibly.com/apply
• Document upload: Secure portal available
• Status tracking: Real-time application updates
• Support: Phone, email, live chat

Comparison to Other Providers

vs. OnDeck

• Credibly advantage: Lower starting rates, more startup-friendly
• OnDeck advantage: Larger advances ($500K+), more established

vs. Rapid Finance

• Credibly advantage: Lower factor rates, better for cost-sensitive
• Rapid Finance advantage: Faster funding (as quick as 24 hours)

vs. 1West Finance

• Credibly advantage: Direct lender (not marketplace), lower rates
• 1West advantage: Wider product range (SBA, term loans via partners)

vs. National Funding

• Credibly advantage: Better customer ratings, lower starting rates
• National Funding advantage: Larger maximum advances, longer terms

Final Recommendation

Overall Rating: 4.7/5 Stars

Best suited for: Small businesses with lower credit scores (500–650) or startup status seeking competitive factor rates with transparent terms.

Consider if: Cost is primary concern (want lowest factor rates), you have startup or limited history, or need flexible eligibility requirements.

Look elsewhere if: You need very large advances (>$400K), have excellent credit (680+) qualifying for traditional loans, or need highly customized solutions.

Bottom line: Credibly offers one of the most competitive starting factor rates in the industry (1.11–1.15) with flexible eligibility that benefits startups and credit-challenged businesses. While they have higher revenue requirements than some competitors and charge administrative fees on some products, their transparency and customer satisfaction ratings make them a strong choice for cost-sensitive small businesses.

Last updated: March 2026. Rates, terms, and eligibility requirements subject to change. Verify current offers directly with Credibly before applying.