Credibly business loans review
Credibly business financing isn't available on Finder right now.
- Min. Amount
- $5,000
- Max. Amount
- $10,000,000
- APR
- Factor rates start at 1.11
Our verdict
A fintech lender offering fast business loans to newer companies, even with fair credit.
Credibly is a direct lender, providing merchant cash advances and working capital loans to companies with as little as six months in business. It also offers several other loan types through partner lenders. Loan amounts vary widely, from $5,000 to $10 million, and companies with six months in business and a 500 credit score can apply. But factor rates may be high, and daily or weekly payments could strain your cash flow.
Best for: Small businesses with steady monthly revenue.
Pros
-
Low minimum credit score of 500
-
Only 6+ months in business required
-
Wide range of loan types and amounts
Cons
-
High borrowing costs
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Daily or weekly repayment on certain loans
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More stringent requirements for some loan types
Is Credibly legit?
Yes, Credibly is a legitimate company. Founded in 2007, Credibly has loaned more than $2 billion to small businesses across the US. It’s accredited by the Better Business Bureau (BBB) with an A+ rating and receives high praise from past customers on Trustpilot.
It protects user data with industry-standard encryption and secure servers, but it also shares limited customer information, so you may get unsolicited marketing materials after applying.
What makes Credibly shine?
The company offers a wide range of loan types through direct loans and its partner lenders, so you’re bound to find one that meets the needs of your business. Qualifications are pretty easy to meet, especially for the merchant cash advances and working capital loans that Credibly funds; you only need 6 months in business, a 500 credit score and $15,000 in monthly revenue to qualify.
The application process is simple and straightforward, and funding is fast, with some loans allowing you to receive your funds in as little as 24 hours.
It also has a solid reputation. It’s accredited by the Better Business Bureau with an A+ rating and has more than 2,000 5-star reviews on Trustpilot.
Where Credibly falls short
Several loan types offered by the company use factor rates instead of APRs, which makes it difficult to compare the cost of borrowing. Factor rates start at As low as 1.11, which means you repay $1.11 for every dollar you borrow, but Credibly doesn’t say what the maximum factor rate is. It could be up to 1.3 or even higher, which would make this an expensive form of borrowing. But, factor rates are common with these types of working capital loans.
Another potential issue is the repayment schedule. Some loans require daily or weekly repayments, which could strain your cash flow. Plus, Credibly charges an origination fee of 2.5% on some loan types, adding to the overall cost of the loan.
Credibly loan details
| Loan amount | $5,000 to $10,000,000 |
| Terms | 3 months to 10 years |
| APR | Factor rates start at 1.11 |
| Turnaround | As soon as 24 hours |
| Minimum credit score | 500 |
| Other requirements | Business operates in the United States 6+ months in business $15,000 in monthly revenue Revenue deposited in business bank account |
| Fees | 2.5% origination/underwriting fee $50 monthly administrative fee for MCA |
| Availability | Some loan types may not be available in all 50 states |
Credibly contact information
| Phone number | 888-664-1444 |
| Text | 248-633-1277 |
| customerservice@credibly.com | |
| X, formerly Twitter | @Crediby360 |
| @RetailCapitalUS |
How to qualify for Credibly
To qualify for a loan through Credibly, you need to meet the following criteria:
- Have a US-based business.
- Be in business for at least six months. Credibly doesn’t offer financing for startups.
- Have a credit score of 500 or higher.
- Have at least $15,000 in monthly revenue deposited into your business bank account.
Keep in mind that the requirements vary by loan type. Those listed above are the minimum qualifications for merchant cash advances and working capital loans, which are funded directly by Credibly. Requirements for loans through Credibly’s partners (SBA loans, a business line of credit, equipment financing and other long-term business loans) will likely be more stringent.
How to apply
There are two ways you can start your application: through its website or by calling its phone line.
Follow these steps to apply online:
- Go to Credibly’s website. Select Apply Now in the top right corner.
- Fill out the form with basic information about you and your business.
- Follow the directions to complete your application. Required documentation may include:
- Government-issued ID
- Last three months of business bank statements
- Your most recent business tax return
- Wait while Credibly reviews your application and lets you know if you’re approved for a loan, often within just four hours.
- Receive the loan agreement, then review the terms, sign and return it.
- Wait for your funds to be deposited into your business bank account.
How Credibly compares to other lenders
Compare other products
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How we picked theseWhat is the Finder Score?
The Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.
Credibly reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 2.33 out of 5 stars, based on 3 customer reviews |
| BBB customer complaints | 5 customer complaints |
| Trustpilot Score | 4.8 out of 5 stars, based on 2,301 customer reviews |
| Customer reviews verified as of | 23 June 2025 |
Overall, Credibly has a good reputation. On Trustpilot, the company earns five-star ratings from 89% of all reviewers, with another 5% giving four stars. Customers compliment Credibly on its fast and efficient service and helpful customer service team, often calling out specific representatives by name. The few complaints mention funding not coming through, high origination fees, being penalized for stacking loans and sharing data with third parties for marketing purposes.
Credibly is accredited by the Better Business Bureau with an A+ rating. There are only three reviews on the site, but opinions are mixed, with two reviewers giving just one star and the other giving five stars. The happy customer mentioned the easy application process and clear communication as reasons for the high rating. The other two had issues with a rude customer service agent and paying off their loan.
What do people on Reddit say?
Frequently asked questions
Is Credibly a direct lender?
Yes, Credibly is a direct lender for merchant cash advances and working capital loans. The company also works with partner lenders to offer SBA loans, business lines of credit, equipment financing and other long-term business loans.
Does Credibly do a hard pull?
You can prequalify with Credibly using only a soft inquiry. If you move forward with a full application, it may require a hard credit pull, especially if you work with one of Credibly’s partner lenders.
What credit score do you need for Credibly?
Credit score requirements vary by loan type. The lowest is 500 for a merchant cash advance or working capital loan, which are funded directly by Credibly. Requirements for other loans are 550 for equipment financing, 620 for SBA loans, 675 for a business line of credit and 700 for a long-term business loan.
Your reviews
Christi Finder
Contributor
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