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Credibly Review

Kevin MercadanteByKevin MercadanteFeb. 16, 2020

In a Nutshell

Credibly is a fast and convenient lender offering small business loans and cash advanced, providing working capital to small- and medium-sized businesses. It has service across all 50 states.


  • Approval in 24 hours
  • Over 90% prequalify


  • Long term loans unavailable
  • Some early repayment restrictions

Credibly Credibly Visit Site

Company Profile 

Credibly provides small-to-medium sized businesses with access to working capital. You can apply for either a small business loan or a cash advance. Credibly provides loans to many different businesses including restaurants, medical offices, professional services and home services. It combines the advantages of online processing speed with the personal touch of generous phone contact conducted by a live representatives. Once loan is authorized, funds can be used in any way with no restrictions or terms made by Credibly.

Credibly was started in 2010 and has since provided over $200 million in loans to more than 4,500 businesses in over 300 industries. The company has offices in Michigan, New York, Arizona and Massachusetts, but offers its services across all 50 states.

Service Profile 

You can apply for either a business loan or a cash advance of up to $250,000. You can be pre-qualified in a matter of minutes, and the site offers a calculator that will help you determine what your daily return will be. Certain products may not be available in all states. Certain business loan products are made available through Retail Capital LLC, a licensed California Finance Lender.

Rated A+ (on a scale of A+ to F) by the Better Business Bureau, Credibly also holds a score of 8.9 from TrustPilot (on a scale of zero to 10). Credibly has likewise been featured in notable media outlets including The Street, Reuters, The Wall Street Journal, and Inc. 500.

Loan Features 

  • Terms: 6 months to 15 months*
  • $5,000 to $250,000 limit*
  • APR from 9.99% to 36%*
  • No teaser rates or hidden fees*
  • Approval in one day*
  • Funding within 48 hours*
  • No prepayment penalties
  • 2.5% set up fee for business loans*

Loan Application Information

To qualify for a loan with Credibly you must be in business for a minimum of 6 months and average at least $10,000 per month in business deposits (or at least $4,000 per month in credit card sales for a cash advance).

You will also need to provide the following:

  • Signed business loan agreement
  • Business Lease Agreement (if you rent) or Business Mortgage Statement (if you own)
  • Picture ID of all owners
  • Business Tax Return (only for loans over $100,000)
  • Bank Statements - 3 months for loans less than $50,000; 6 months for loans between $50,000-$74,999; and 9-12 months for loans above $75,000

The loan will be secured by a lien filed on the assets of your business as well as your personal guarantee in the event your business is unable to repay the loan. Both the lien and the personal guarantee are released when the loan is repaid.

Repayment Terms 

Business loans are repaid in daily fixed installments.  Repayments on cash advances (better known as Merchant Cash Advances or MCAs) are based on paying a fixed percentage of your daily credit card sales.

Interest rates range from 9.99% to 36% APR. The actual rate received will depend on your individual circumstances. 

Interest rates are not provided onsite (the "Rates & Fees" link actually takes you to the Business Capital 101 page without providing rates and fees). You must complete a pre-qualification application in order to view rates, as these are based on individual circumstances. Credibly executes a soft-pull on your credit score, thereby ensuring no inquiry will be counted against you by your credit provider.

For business loans, Credibly has a single setup fee of 2.5% of the total loan amount.

For cash advances, Credibly charges a filing fee, underwriting fee and administrative fee as well as a collateral/site visit fee if necessary.

Help & Support 

Credibly can be contacted by toll free phone at (888)664-1444, by email or through the site's Customer Contact page. Credibly is also available on the following channels.

Credibly Credibly Visit Site


Credibly is a loan source for those small-to-medium size business that may find it difficult to obtain financing from banks. You can handle the entire loan process online and complete it in just a few days.  

Short-term business loans or a cash advance of up to $250,000 are available at Credibly, offering businesses the hassle-free benefits of online banking and the personal touch of a private banker.

Physical Address 

Credibly, Inc.

1250 Kirts Blvd.

Suite 100

Troy, MI 48084

* Data is subject to change at any time. Please visit for details.

Kevin MercadanteByKevin MercadanteJun. 20, 2019
Kevin Mercadante is a freelance professional personal finance blogger, and the owner of his own personal finance blog, He has extensive backgrounds in both accounting and the mortgage industry.