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Creditfy Small Business Loans: 2025 Review

Updated Jun 10, 2025

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At a glance

2025 Bankrate Awards Winner badge

Creditfy: Bankrate 2025 Award Winner Best lender for fast business loans

4.7
Rating: 4.7 stars out of 5
Bankrate Score
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Overview

Creditfy is an online lender that offers multiple business loans, including term loans, equipment financing and SBA loans. It states it has a 90 percent loan approval rating, which could help many small business owners who struggle to qualify for loans.

Lender Details

  • Money Bag Icon

    Loan amount

    Up to $10 million

  • Rates Icon

    Interest rate

    4.90%-34.00% Simple interest

  • Clock Wait Icon

    Term lengths

    Up to 25 years

  • Dollar Icon

    Min. annual revenue

    $240,000

  • Briefcase Icon

    Min. time in business

    6 months

Who Creditfy is best for

Creditfy’s business loans are a good fit for business owners who need bad credit business loans, as it offers lower-than-usual credit requirements across all its loans. Creditfy is also a top lender for equipment loans, offering high loan amounts and lenient criteria to apply.

Who Creditfy may not be best for

Creditfy may not be the best option if you’re looking for the lowest interest rates. It advertises only its simple interest rates, without mentioning additional fees that are usually included in an APR. Its representatives also offer details that conflict with its website, which can make it harder to get accurate information to compare against other lenders.

Creditfy: in the details

Creditfy pros and cons

Pros

  • Checkmark Icon

    High loan amounts

  • Checkmark Icon

    90% approval rate

  • Checkmark Icon

    Accepts bad credit or startups

  • Checkmark Icon

    Fast funding

Cons

  • Conflicting loan details

  • High revenue for most loans

Business loan types offered

Creditfy offers six business loans to help you cover temporary or long-term financing. Yet Creditfy representatives often stated different interest rates, terms or loan amounts than is listed on its website or given by another representative. 

For example, a representative initially stated that loan amounts go up to $7 million. Later, they stated that SBA loans go up to $10 million. 

Creditfy reps also said it doesn’t accept startups with under a year in business, yet also stated the SBA and equipment loans allow six months in business. You’ll also find different interest rates listed on the website than you’ll find here. You’ll want to chat with a loan specialist about the exact loan options and terms available to you.

Loan quick facts

  • Amounts: $10,000 to $2.5 million
  • Terms: up to 5 years
  • Simple interest rate: 8.00% to 28.00%

Creditfy term loan overview

Creditfy sticks with terms of up to five years, which is the average for long-term business loans. Its simple interest rates stand at the low end, though the information given by a rep is different from the website. The website states that you can get monthly rates as low as 1.06 percent.

To apply for this loan, your business can have a minimal one year in business and a personal credit score as low as 500. You’ll need a minimum annual revenue of $180,000 to qualify.

Do you qualify? 

You need to meet the lender’s basic qualifications for most loans. Those include:

  • 500 to 600 personal credit score
  • $180,000 in annual revenue ($100,000 for equipment loans)
  • 6 months to 1 year in business 

Most of Creditfy’s business loans also require at least 50 percent ownership stake in the business to qualify. But you can get an equipment loan with a minimal 10 percent stake. Creditfy doesn’t serve businesses in financial services or auto sales.

What we like and what we don’t like

Creditfy provides many types of business loans, able to serve small businesses with many funding projects. But make sure to consider the lender’s pros and cons before applying. 

What we like

  • High loan sizes. Creditfy offers maximum loan amounts in the millions. Many online lenders stop loans at $250,000 to $500,000.
  • 90% approval rate. The lender approves 90 percent of loan applications, giving you a high chance of getting accepted. 
  • Accepts bad credit. Business owners with credit scores down to 500 can apply. 
  • Fast funding. You can get your loan approved in as fast as 24 hours. 

What we don’t like

  • Conflicting loan details. Across most loans, Creditfy provided different details and loan features than you’ll find listed on its website. The mixed details make it confusing for business owners to understand what they might qualify for. 
  • High revenue requirement. Most loans require you to have $180,000 in annual revenue, which could edge out some startup or low-revenue businesses. Only its equipment loan accepts annual revenue as low as $100,000. 

How Creditfy compares to other lenders

Creditfy’s offerings stay on par with what you’ll find with other top online lenders. But some competitors may beat it with alternative business loans or the credit scores accepted. Here’s a look at how Creditfy compares with two of the best small business lenders.

Rating: 4.7 stars out of 5
4.7

Bankrate Score

  • Loan amount

    Up to $10 million

  • Interest rate

    4.90%-34.00% Simple interest

  • Term lengths

    Up to 25 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $240,000

Rating: 4.6 stars out of 5
4.6

Bankrate Score

  • Loan amount

    $10,000-$10 million

  • Interest rate

    5.25% APR

  • Term lengths

    6 months-25 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $100,000

Rating: 4.6 stars out of 5
4.6

Bankrate Score

  • Loan amount

    $1,000-$10 million

  • Interest rate

    4.63%-60.00%

  • Term lengths

    3 months-25 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $50,000

Read our review

on Bankrate

Creditfy vs. SMB Compass

Creditfy and SMB Compass both offer a variety of business loans with maximum loan amounts soaring into the millions. But Creditfy accepts applicants with personal credit scores in the 500s for term and equipment loans. SMB Compass sticks with the fair credit range. It approves a 600 personal credit score for its business lines of credit or equipment loans. 

However, SMB Compass offers more alternative types of financing. Its options include invoice, inventory, purchase order and asset-based financing, alongside conventional loans like a term loan. The only alternative types of funding Creditfy offers are invoice financing, bridge loans and SBA loans. 

Creditfy vs. Lendio

Creditfy and Lendio both cater to bad credit businesses with credit scores in the 500-to-600 range. With Creditfy, you can get a term or equipment loan with a 500 or 550 personal credit score. If your credit score is bumped up into the 600s, you can choose from a business line of credit or SBA loan. 

With Lendio, you can qualify for business lines of credit, SBA 7(a) loan or SBA microloan with poor or fair credit. Lendio also offers merchant cash advances and accepts poor personal credit scores of 500 for that loan. Which of these lenders you choose may depend on the type of business loan you’re applying for and whether you’re eligible for that type of loan. 

Keep in mind Lendio is a loan marketplace with over 75 lenders, helping you compare multiple lenders to find the best loan offer. Creditfy is a direct lender that also partners with a network of lenders to help you qualify for a loan with competitive rates and terms. It’s worth it to prequalify with both lenders to see loan offers and find the best deal for your business. 

How to apply for a loan with Creditfy 

To apply for a loan, you can either call a representative at 844-860-2288. Or you can start your application online. Creditfy states that the application takes five minutes to complete online. You’ll need to gather some information to keep that application process a speedy one.

Required application information 

What you’ll need to apply:

  • Bank information for amount of deposits
  • Credit score and credit history
  • Employer identification number (EIN)
  • Doing Business As (DBA), if it applies
  • Type of industry
  • Legal structure of your business
  • Use of funding

Creditfy frequently asked questions

How Bankrate rates Creditfy

Overall Score 4.7
Accessibility 4.9 Creditfy keeps its credit requirements low for borrowers with bad credit.
Affordability 4.1 The fintech lender offers low starting simple interest rates, but it charges an origination fee.
Transparency 5.0 Creditfy clearly lists its loan information on its website, and its customer service is responsive.
Customer experience 4.7 Representatives are responsive when you have questions about its loans.
Flexibility 5.0 Loan amounts have wide ranges to cater to different small businesses.

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.

What small business owners think

CTA Creditfy Small Business Loans has 20 reviews

Creditfy Small Business Loans has 20 reviews

Dive into community reviews below and see what others think about Creditfy Small Business Loans.

4.2 Star Icon
20 ratings
Score breakdown
5 stars
50%
4 stars
25%
3 stars
20%
2 stars
5%
1 star
0%
Score by category
Customer experience 4.2 / 5
Accessibility rating 4.1 / 5
Affordability rating 4 / 5
Transparency rating 4 / 5
Flexibility rating 4.2 / 5

Community Reviews

See what users like you are saying about Creditfy Small Business Loans.
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Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
They helped me to get the loan I need. They worked out great.
Score by category
Flexibility rating 5 / 5
Transparency rating 4 / 5
Accessibility rating 4 / 5
Affordability rating 5 / 5
Customer experience 5 / 5
Overall
What was your biggest pain point during the application process?
Having to wait for the money to come
Score by category
Flexibility rating 3 / 5
Transparency rating 4 / 5
Accessibility rating 2 / 5
Affordability rating 3 / 5
Customer experience 4 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
It was very simple and straightforward. I was able to get a real associate under 10min.
Score by category
Flexibility rating 5 / 5
Transparency rating 4 / 5
Accessibility rating 5 / 5
Affordability rating 4 / 5
Customer experience 5 / 5
Overall
What was your biggest pain point during the application process?
Just the initial response times, then again it might have just been anxiety.
Score by category
Flexibility rating 4 / 5
Transparency rating 4 / 5
Accessibility rating 5 / 5
Affordability rating 4 / 5
Customer experience 5 / 5
Overall
Were you able to contact the lender for customer support? What was the process like?
The process was quick and easy
Score by category
Flexibility rating 5 / 5
Transparency rating 5 / 5
Accessibility rating 5 / 5
Affordability rating 5 / 5
Customer experience 5 / 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
Yes, they were. The loan they gave me helped me open up a new building.
Score by category
Flexibility rating 4 / 5
Transparency rating 4 / 5
Accessibility rating 4 / 5
Affordability rating 4 / 5
Customer experience 4 / 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
We got the loan approved in a very quick efficient manner, which is exactly what we needed at the time
Score by category
Flexibility rating 3 / 5
Transparency rating 4 / 5
Accessibility rating 4 / 5
Affordability rating 3 / 5
Customer experience 3 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
We worked with Brad and he provided all the terms, the rates and the schedule. But it was a challenge to get back in touch with him when we had questions.
Score by category
Flexibility rating 4 / 5
Transparency rating 5 / 5
Accessibility rating 5 / 5
Affordability rating 3 / 5
Customer experience 4 / 5
Overall
Was the lender receptive to your business unique needs? If so how? If not, why not?
Yes.The lender provides individual unique services
Score by category
Flexibility rating 5 / 5
Transparency rating 4 / 5
Accessibility rating 4 / 5
Affordability rating 5 / 5
Customer experience 3 / 5
Overall
Did you feel that the lender was knowledgeable about their product and loan terms? Why or why not?
Yes because the lender kept me informed
Score by category
Flexibility rating 5 / 5
Transparency rating 5 / 5
Accessibility rating 5 / 5
Affordability rating 4 / 5
Customer experience 5 / 5