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SMALL BUSINESS LOANS REVIEWS
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Credibly Small Business Loans: 2025 Review

Written by
Jerry Brown
Edited by
Rob Watts

Updated Mar 17, 2025

At a glance

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4.5
Rating: 4.5 stars out of 5
Bankrate Score
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Accessibility
Rating: 4.7 stars out of 5
Affordability
Rating: 4.4 stars out of 5
Customer experience
Rating: 4.1 stars out of 5
Transparency
Rating: 5 stars out of 5
Flexibility
Rating: 4 stars out of 5
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Overview

Through direct lending or partnering with other lenders, Credibly offers an array of business loans with relaxed eligibility requirements, such as six months in business. Loan options include working capital, business lines of credit, merchant cash advances, equipment loans, long-term loans and SBA loans.

Lender Details

  • Money Bag Icon

    Loan amount

    $5,000-$10 million

  • Rates Icon

    Interest rate

    1.11 Factor rate

  • Clock Wait Icon

    Term lengths

    3 months-10 years

  • Dollar Icon

    Min. annual revenue

    $180,000

  • Briefcase Icon

    Min. time in business

    6 months

Who Credibly is best for

Credibly loans are best for businesses that need fast, short-term funding and relaxed business loan requirements. Unlike traditional banks and credit unions, Credibly provides business loans to business owners with poor credit and a minimum amount of time in business. It may be possible to secure a loan with a credit score of 500 or higher and only six months in business.  

Who Credibly may not be best for

Credibly does not offer loans to brand new startups. If you don't have at least six months' time in business, you'll need to look for a different startup lender. Plus, this lender states on its website that business owners need an annual revenue of $180,000 to qualify.

However, a spokesperson told us that you need a minimum of $300,000 in annual revenue, or $25,000 in monthly revenue, deposited to your business bank account. If you don't have a business bank account or don't show an average minimum monthly deposit of $25,000 when Credibly reviews your bank statements, you'll likely be denied and need to look elsewhere.

While Credibly’s loans could be a good fit for business owners looking for bad credit business loans, well-qualified borrowers might want to shop around for lower rates. Credibly’s rates are higher than other lenders like traditional banks.

Credibly: in the details

Loan amount
$5,000-$10 million
Interest rate
1.11 Factor rate
Term lengths
3 months-10 years
Fastest funding
1 business day
Min. annual revenue
$180,000
Min. time in business
6 months
Personal credit score
500

Credibly pros and cons

Pros

  • Checkmark Icon

    Fast funding

  • Checkmark Icon

    Relaxed credit requirements

  • Checkmark Icon

    Variety of loan options

Cons

  • Potential fees

  • High revenue requirement

  • Potentially high factor rates

Business loan types offered

Credibly offers many types of business loans. You can choose from traditional options like unsecured business lines of credit and alternative lending options like merchant cash advances and more.

Loan quick facts

  • Amounts: $25,100 to $600,000
  • Terms: 6 to 24 months
  • Factor rate: Starting at 1.11

Credibly working capital loan overview

Credibly is a direct lender of working capital loans, loans that help you cover short-term working capital expenses such as operating costs. This loan works best if you are able to pay back the loan relatively quickly within 24 months or less. This loan requires a daily or weekly repayment schedule, so you’ll need to manage the loan effectively to avoid getting behind. 

Loan quick facts

  • Amounts: $5,000 to $600,000
  • Terms: 3 to 24 months
  • Factor rate: Starting at 1.11

Credibly merchant cash advance overview

Credibly is also a direct lender of merchant cash advances. With this option, you can borrow against your future credit and debit card sales. Then you repay the amount borrowed along with fees and factor rates through automatic daily or weekly payments. This is one of the most accessible forms of business financing available to business owners, even if you have bad credit or little time in business. 

But it can also be one of the most expensive, especially if you don't qualify for the lowest possible rate. This MCA charges a factor rate, which gets multiplied by the entire loan amount and often converts to high interest rates such as double digits or higher. You may only want to use this loan in case of an emergency.

Loan quick facts

  • Amounts: $5,000 to $600,000
  • Terms: 3 to 24 months
  • Interest rate: 3.00% to 5.00% monthly rate

Credibly business line of credit overview

Credibly offers secured and unsecured business lines of credit through its partner lenders. You can borrow up to $600,000 as needed to fund operational costs, equipment, inventory or other purchases. Repayments can be made weekly or monthly. To qualify, you’ll need at least a 675 personal credit score and at least $20,000 in monthly revenue. These requirements are much steeper than Credibly’s other loans, catering to strong credit borrowers.

Loan quick facts

  • Amounts: $50,000 to $10 million
  • Terms: Up to 120 months
  • Interest rate: Not stated

Credibly long-term loans overview

Through its lending partners, Credibly offers the chance of getting a long-term loan with terms up to 10 years. These longer repayment terms can stretch out the monthly payments to make them more manageable for borrowers.

To qualify, you will need at least two years in business, $500,000 in annual revenue and a strong personal credit score of 700. Credibly offers some of the highest loan amounts available for this type of loan. But you may want to compare interest rates with other loans to make sure you’re getting the best deal.

Loan quick facts

  • Amounts: $10,000 to $10 million
  • Terms: Not stated
  • Factor rate: Not stated

Credibly equipment loan overview

Credibly’s website is light on information about its equipment loans. Typically, these loans come with competitive interest rates because they’re secured by the equipment as collateral. Credibly offers high loan amounts for its equipment loans up to $10 million if you need it and can qualify. Credibly states that you can apply for this loan within minutes and be contacted by one of its loan specialists to go over your options.

Loan quick facts

  • Amounts: Up to $5.5 million
  • Terms: Up to 10 years
  • APR: 10.50% to 15.50%

Credibly SBA loans overview

SBA loans are guaranteed by the U.S. Small Business Administration and administered through SBA-approved lenders. These loans are designed for businesses that can demonstrate the ability to repay but cannot find reasonable terms and rates from a conventional business loan. SBA loans are also popular because they offer long repayment terms, and the SBA sets a low maximum interest rate that lenders are allowed to charge. 

The benefit of applying through Credibly is that Credibly will match you with one or more of its lenders if you qualify. Usually, you would have to apply one by one through approved SBA lenders. The downside is that this loan typically takes 30 to 90 days to receive approval and funding.

Do you qualify? 

Eligibility requirements for Credibly loans vary by loan product. You may qualify for a business loan with Credibly if you meet these minimum requirements.

  • Based in the U.S.
  • In business for least six months
  • No bankruptcies in the last three years
  • A credit score of 500
  • Minimum annual revenue of $180,000
  • Revenue must be deposited in a business bank account

Credibly notes that not all business loan products are available in all states.

What we like and what we don’t like

While Credibly offers accessible and fast business loans, it has a few drawbacks worth considering. Make sure you compare an offer from Credibly with other lenders before making a final decision.

What we like

  • Fast funding. Credibly states approval can be in as little as four hours with same-day funding also an option.
  • Relaxed credit requirements. Credibly’s loan products are accessible to business owners with poor personal credit scores as low as 500, though it can vary with some loan products.
  • Variety of loan products. From SBA loans to merchant cash advances, Credibly offers a range of loans to satisfy the needs of many small business owners.

What we don't like 

  • Potential fees. Depending on the loan, you may have to deal with origination, administrative or underwriting fees, which increase your borrowing costs.
  • High annual or monthly revenue requirement. Credibly's website states its minimum annual revenue is $180,000, but a spokesperson stated it's at least $300,000 in annual revenue or $25,000 in average deposits for the past three months to qualify.
  • High factor rates. Factor rates can add significant borrowing costs to your loan. For example, a $100,000 loan with a low factor rate of 1.09 will cost at least $109,000, but a factor rate of 1.50 would increase that same loan to $150,000. And that doesn’t include additional fees.

How Credibly compares to other lenders

Credibly is known for providing fast and flexible financing solutions for small businesses looking for $5,000 to $600,000 in capital. If you get a long-term loan through Credibly’s partners, you can get funding up to $10 million. 

With its lenient lending requirements and streamlined application process, Credibly has become a reliable choice for entrepreneurs looking for accessible funding options to support their business growth. But it may not be the perfect fit for all businesses.

Rating: 4.5 stars out of 5
4.5

Bankrate Score

  • Loan amount

    $5,000-$10 million

  • Interest rate

    1.11 Factor rate

  • Term lengths

    3 months-10 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $180,000

Rating: 4.4 stars out of 5
4.4

Bankrate Score

  • Loan amount

    $5,000-$1.5 million

  • Interest rate

    Not stated

  • Term lengths

    Up to 24 months

  • Min. time in business

    6 months

  • Min. business annual revenue

    $240,000

Read our review Arrow Right Icon

on Bankrate

Rating: 4.5 stars out of 5
4.5

Bankrate Score

  • Loan amount

    $10,00-$25 million

  • Interest rate

    7.49%

  • Term lengths

    6 months-30 years

  • Min. time in business

    24 months

  • Min. business annual revenue

    $50,000

Read our review

on Bankrate

Credibly vs. Fora Financial

Credibly and Fora Financial are both suitable for borrowers with poor credit and short-term financing needs. 

Credibly offers more types of business loans, including working capital loans, merchant cash advances, business lines of credit and invoice factoring up to $600,000. Its partners’ long-term loans offer funding up to $10 million. Fora Financial offers short-term business loans and revenue advances up to $1.5 million. Credibly might be the preferable option since you can apply and get matched to the right loan from multiple partnering lenders.

For the credit score and annual revenue requirements, there are other differences to consider. Credibly's credit score requirement is 500, and Fora's is 570. And the minimum monthly revenue for Credibly is $15,000 compared to Fora's $20,000 in monthly revenue required. Some Credibly loans may require at least $25,000 in monthly revenue. Plus, Fora has a maximum term of 24 months, while you can get a long-term loan through Credibly with terms up to 10 years.

When choosing between these two short-term lenders, it could help to focus on the loan type and funding amount needed to determine the best fit for your business.

Credibly vs. SMB Compass

Credibly and SMB Compass offer a variety of business financing options that would be a good fit for businesses with a need for significant capital. Businesses can choose between invoice factoring, working capital loans, business line of credit and merchant cash advances between $5,000 and $600,000 with Credibly. Long-term loans through Credibly go up to $10 million. 

SMB Compass offers nine types of loans, including term loans, business lines of credit, equipment financing, invoice factoring and bridge loans, ranging from $10,000 to $10 million. All nine of SMB Compass’s loans offer loan amounts in the millions of dollars compared to Credibly’s one long-term loan that offers high loan amounts.  

Credibly only requires a personal credit score of 500, while SMB Compass requires a 600 personal credit score or higher for its loans. Credibly may give you a better chance of approval if you have a poor credit score. But SMB Compass better aligns with businesses with fair to good credit and long-term financing needs since it offers low interest rates that start at 5.25 percent annual percentage rate (APR) and repayment terms that go up to 25 years. 

How to apply for a Credibly loan

For a Credibly loan, you can submit a quick online application to prequalify. This involves a soft credit pull, which doesn’t impact your credit. After you prequalify, you can compare the terms with other lenders. If you like Credibly’s offer, funds could be deposited in as little as a day into your business bank account. Before applying, make sure you have the following information available:
 
  • Last 3 months of business banking statements 
  • Recent tax returns for loans higher than $100,000
  • Copy of driver's license or government-issued ID for all business owners 
  • Federal Tax ID number (EIN)
  • NAICS or SIC code

Credibly frequently asked questions

How Bankrate rates Credibly

Overall Score 4.5
Accessibility 4.7 Credibly offers loans and fast funding to a wide range of borrowers.
Affordability 4.4 Credibly’s wide range of loans include SBA loans, which typically have affordable rates.
Transparency 5.0 You’ll find plenty of loan details on Credibly’s website.
Customer experience 4.1 Credibly offers a fast online application and online account management.
Flexibility 4.0 Credibly’s wide range of loan products can meet the needs of many small business owners.

Methodology

Clock Wait Icon
47
years in business
Credit Card Search Icon
30+
lenders reviewed
Loan Icon
22
loan features weighed
Rates Icon
770+
data points collected

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

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