Fundible vs. Credibly
Both Fundible and Credibly offer a similar range of business loans, including term loans, equipment financing, lines of credit and SBA loans. Both also cater to businesses with bad credit, but Fundible approves lower credit scores than Credibly.
Fundible requires a FICO score as low as 450 and $100,000 in annual revenue. On the other hand, Credibly starts with a FICO score of 500 and annual revenue of $180,000.
Fundible also offers bigger loan sizes than Credibly, providing funding into the millions of dollars depending on the type of loan. Most of Credibly’s loans stop funding at $600,000, which is common for an online lender. The exception is its long-term loan, which provides funding up to $10 million.
Credibly also uses factor rates for several loans, which can easily translate into a high interest rate. Fundible advertises low monthly percentage rates that are charged on the outstanding principal amount each month.
Fundible vs. SMB Compass
Like Fundible, you can get a variety of loans from SMB Compass, including term loans, bridge loans and lines of credit. The main difference is that SMB Compass offers asset-based, inventory and purchase order financing that Fundible doesn’t offer.
Fundible is more lenient toward business owners with bad credit. SMB Compass approves FICO scores as low as 600 to 650, depending on the loan. Meanwhile, Fundible accepts business owners with a credit score as low as 450. For both lenders, some loans require a higher score like 600 or 650.
With SMB Compass, you’ll need funding of at least $10,000 to $25,000 to qualify, while Fundible offers lower loan sizes. For example, Fundible’s business line of credit goes as low as $1,000, and its term loans can go down to $5,000. On the other end, both lenders have maximum loan sizes that reach into the millions of dollars.
