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Credibly Review

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Reviews 753

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Kevin Mercadante
Kevin Mercadante
May. 03, 20214 min read

Credibly summary

Credibly is a dedicated business lender and marketplace catering mainly to small and medium businesses. Over the years, it has provided more than $1 billion in funding to American businesses. Credibly exists primarily to provide working capital loans, business expansion loans, and merchant cash advances. In addition, it offers a range of alternative funding options such as lines of credit, equipment financing, invoice factoring, and SBA loans.

Pros

  • Instant pre-qualification, approval within 24 hours
  • Funding within 48 hours of approval
  • Online or combined online/phone application

Cons

  • Minimum $15K+ deposits per month to qualify
  • Not all products available in all states
Credibly at a glance
4.4

Editorial score

Online experience

Has learning resources, access to rates, mobile app

5.0

Customer services and support

Multiple ways of reaching lender but limited hours

3.0

Variety of loan types

Offers all loan types*

5.0

Loan amount range

Loan amount up to $500K

4.0

Eligibility

Loans available to most credit types, revenue levels, and businesses

5.0

Credibly Credibly View Rates

Overview

Credibly is the online lending arm of Retail Capital, LLC, a licensed California finance lender. It plays the dual role of lender and lending marketplace, connecting business owners with top loan options from Credibly and a network of vetted third-party lenders. Credibly’s main selling point is its speed and customer service. It uses advanced data analytics to assess every applicant, helping it to reach a funding decision within 24 hours and to transfer the funds within an additional 48 hours. And unlike many other online lenders, Credibly’s dedicated team of Business Consultants is available to help you identify the right financing option for your business.

Why Credibly Is Good for Your Business

This service caters to small and medium business owners who need capital and need it quickly. As mentioned, Credibly gets right down to business – helping applicants to get from that initial application to funding within 48-72 hours. Credibly offers a range of funding types, making it suitable for all types of businesses. Whether you need working capital, a cash advance, or a line of credit – Credibly can help.

Loan Features

Credibly offers two tiers of loans. It mainly promotes its working capital loan, business expansion loan, and merchant cash advance products from parent company Retail Capital, LLC. In addition, it offers a wide range of other financing options through its partner network.

  • Working capital loans: Designed for businesses with steady revenue. Offering shorter repayment periods and more flexibility than other loans.
  • Business expansion loans: Built for business owners with a proven track record. Provides growth capital at more-competitive rate than other loans.
  • Merchant cash advance: Aimed at businesses with unpredictable revenue and lower credit scores. Tied to future receivables and charged as a percentage of daily revenue.
  • Third-party loans: Range of loans from network partners, including lines of credit, equipment financing, invoice factoring, and SBA loan programs.

Application Process

There are three methods of applying: online, by phone, or by a combination of online and phone. In order to pre-qualify, you’ll need to provide basic details about your business, including name, percentage ownership, desired funding amount, and monthly revenue. Next, you’ll be asked to provide basic documentation, including a copy of your driver’s license, last 3 months of bank statements, and a voided check. 

Applying for a business expansion loan is a little more complex. For example, the applicant must provide a signed business loan agreement and business mortgage or lease agreement, as well as the most recent business tax return for loans of $100,000 or more.

Credibly promises near-instant approvals, with a funding decision typically made within 24 hours. However, it comes with some caveats – namely strict qualification criteria:

  • Min. 6+ months in business (3+ years for business expansion loan).
  • Min. 500+ FICO score (600+ for business expansion loan).
  • Min $15K average deposits for a three-month average and the most recent month.
  • $1-3K + daily balance for the past 90 days (business expansion loan only).

Loan Amount, Repayment Terms, and APR

Credibly offers up to $400,000 in funding and repayment terms of up to 24 months. Maximum loan amounts and repayment terms vary from product to product. A 2.5% origination fee is applied to all Credibly and Credibly partner products.


Business expansion loanMerchant cash advance
Max loan size$250,000$400,000
Term length18 or 24 months3 to 18 months
RateAPR from 9.99%
1.15+ factor rates
Fees2.5% origination2.5% origination + $50 monthly
Automatic paymentsWeeklyTied to receivables

How Safe Is It? 

Credibly is as safe as you would expect of a company that has dished out more than $1 billion in business funding while maintaining an A+ rating from the Better Business Bureau. The website is safe and secure, and all data provided by applicants is encrypted to prevent hackers from stealing sensitive information. Only a soft credit pull is made before pre-qualification, which doesn’t affect the applicant’s credit score. Like virtually all lenders, Credibly runs a hard credit query before funding, which can negatively impact the borrower’s credit score. 

Help & Support

Credibly provides a hybrid of online and phone applications and support. When you fill out a form on the Credibly website, you are given the choice of requesting a call to have a representative help you complete your application. Credibly also offers the option of contacting it directly during regular business hours.

Phone: (888) 664-1444

Email: customerservice@credibly.com

Summary

Credibly has earned a strong reputation for safe, secure, and quick funding at competitive rates. When you use Credibly, you get access to a wide range of funding options including term loans and merchant cash advance from its parent company and alternative loans from its partner network. Credibly has stricter minimum requirements than some of its competitors. If your business meets the minimum qualification criteria, then there’s a good chance Credibly can offer a suitable loan with a suitable loan amount, repayment term, and APR.

Physical Address

Credibly

25200 Telegraph Rd., Suite 350

Southfield, MI 48033

Credibly Credibly View Rates

Kevin Mercadante
Written byKevin Mercadante

Kevin Mercadante is a freelance professional personal finance blogger, and the owner of his own personal finance blog, OutOfYourRut.com. He has extensive backgrounds in both accounting and the mortgage industry. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

Credibly
Credibly
ExcellentReviews 753
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Trustpilot reviews

See what some costumers are saying about Credibly
Credibly
AverageReviews 753
on
Excellent
84%
Great
6%
Average
2%
Poor
1%
Bad
7%
  • author
    customer
    a day ago
    The process was easy and they were very…

    The process was easy and they were very nice to work with!

    ...

  • author
    customer
    a day ago
    Very easy process

    We submitted the paperwork, went through a simple, short call and were funded within 24 hours of the call. Thank you.

    ...

  • author
    customer
    2 days ago
    Complete project from paper work to…

    Complete project from paper work to funding has always been extremely easy and well put together and very efficient.Have been using there Servlce for many years and is always on Piont.Also we’re great help with government loan programs that became necessary from COVID-19 pandemic.Thank You

    ...

  • author
    David O
    2 days ago
    The representative was very polite and…

    The representative was very polite and patient. He contacted me while I was working on a job site and he was kind enough to wait for me to go to my truck to get the information he was requesting.

    ...

  • author
    Brenda
    2 days ago
    From the very beginning to the end…

    From the very beginning to the end Credibly is wonderful people to work with. Great customer satisfaction and genuinely wanting to help in ay way they could. This is the third time I have used them for working capitol and each experience has been the same. Thank all of you for your wonderful and caring help! Oxytech LLC

    ...

  • author
    J&R CROSSROADS
    2 days ago
    Fast and excellent staff.

    Fast and excellent staff.. Todd was so amazing with us. Handled things in a very fast and timely manner..

    ...

  • author
    customer
    3 days ago
    Very polite and professional.

    Very polite and professional.

    ...

  • author
    customer
    3 days ago
    Great

    Great, Prompt service!

    ...

  • author
    customer
    Jul 15, 2021
    Loan was secured with great customer…

    Loan was secured with great customer service.

    ...

  • author
    Richard
    Jul 14, 2021
    Very helpful in the Process

    Oliver and the team was very helpful in getting the funding I needed.

    ...

  • author
    H.B.
    Jul 14, 2021
    As always Oliver was great to work with!

    As always Oliver was great to work with!

    ...

  • author
    Joey Martin
    Jul 14, 2021
    Oliver was very quick and responsive

    Oliver was very quick and responsive

    ...

  • author
    JULIANA
    Jul 12, 2021
    The team did great

    The team did great. Very professional. I am happy camper

    ...

  • author
    Adam-Business owner
    Jul 14, 2021
    Quick response and good terms

    a GREAT EXPERIENCE; FAST AND EFFICIENT SERVICE BY THE COMPANY AND BY REPRESENTATIVE JOSHUA BAKER WITH SBG FUNDING

    ...

  • author
    customer
    Jul 10, 2021
    Awesome Service.

    Great Service!

    ...

  • author
    customer
    Jul 09, 2021
    great!

    great! fast and super services

    ...

  • author
    customer
    Jul 08, 2021
    Scott Giavarini my agent has been very…

    Scott Giavarini my agent has been very professional, up front throughout the process and responds in promptly manner. Thank you

    ...

  • author
    Joanna Villela
    2 days ago
    Thank you Scott!!!

    Thank you Scott!!!! I read some reviews after my process and I don't agree with the lower ratings! Don't be discouraged to apply because I can say my process was very fast! Excellent communication! Thank you again!

    ...

  • author
    Christina
    Jul 06, 2021
    I was happy Credibly worked with my company as a first time borrower!

    I was happy Credibly worked with my company as a first time borrower. The approved loan will allow us to take advantage of purchasing inventory and expand our business. The process was quick and simple and the service has been very professional.

    ...

  • author
    Lula Frazier
    Jul 06, 2021
    The Representative was very pleasant…

    The Representative was very pleasant and helpful.

    ...

  • author
    M Black
    Jul 05, 2021
    Great Service! Highly Recommended

    The process with Credibly was fast and easy. I definitely will do business with them in the future.

    ...

  • author
    customer
    Jul 04, 2021
    Very easy and not a lot of back and…

    Very easy and not a lot of back and forth about what was needed. Very simple process.

    ...

  • author
    Robert R
    Jul 03, 2021
    Picture app

    The picture App could be more user friendly. The instructions for the picture should have a working instructional video. Hitting "finished" cause the app to close to soon.

    ...

  • author
    customer
    Jul 01, 2021
    Very fast and straight to the…

    Very fast and straight to the point...no games...they helped and gave me the best options for the funding i needed.

    ...

  • author
    Jean Rodney
    Jul 01, 2021
    Excellent service

    Credibly is an excellent company for any small business to get funded from . The company representatives are very knowledgeable and understanding. I was assigned by this gentleman Phillip Celeski, one of the company best and knowledgeable rep .

    ...

  • author
    customer
    Jul 01, 2021
    They worked with me as quickly as I…

    They worked with me as quickly as I needed them too. Highly recommended

    ...

  • author
    customer
    Jun 30, 2021
    Very easy to use

    Very easy to use. Thank you

    ...

  • author
    Ryan Erxleben
    Jun 30, 2021
    Great to work with

    Great to work with. Got everything done quickly with no issues.

    ...

  • author
    Julian Lopez
    Jun 30, 2021
    Oliver was great to work with

    Oliver was great to work with, responsive and very efficient. Thanks

    ...

  • author
    customer
    Jun 28, 2021
    Easy to work with

    Easy to work with, and quick service.

    ...

  • author
    RA STAR XPRESS
    Jun 26, 2021
    The process with Credibly was simple

    The process with Credibly was simple. Customer service was very nice and the next day money was in my account. My weekly payback is within my budget, definitely will use them again! Thank you!

    ...

  • author
    customerNasir Khan
    Jun 26, 2021
    Great Help, Great Support, Great Service

    Paul Delucia, Great Help, Great service, Great Support.

    ...

  • author
    customer
    Jun 24, 2021
    Scott Giavarini was very helpful and…

    Scott Giavarini was very helpful and continued to help the best he could again thank you

    ...

  • author
    Fred Winchar
    Jun 24, 2021
    The entire team at Credibly was great

    The entire team at Credibly did a great job. Aaron, my rep, was outstanding. A great person to talk with and a wonderful follow-up. They were reasonably fast and extremely helpful.

    ...

  • author
    DeBrigida Law Offices, PLLC
    Jun 23, 2021
    Excellent Customer Service

    I have been very pleased with my ongoing relationship with Credibly. Messrs. Bower and Mupas have been a pleasure to work with. They are prompt, direct and thorough. Each of the transactions I have done with them have been free of incident. They are accessible and professional. I recommend them to any business looking to grow.

    ...

  • author
    customer
    Jun 23, 2021
    The process was quick

    The process was quick. Rob was great.

    ...

  • author
    Jeremy
    Jun 22, 2021
    Everyone is very helpful and explains…

    Everyone is very helpful and explains the process throughly. They have helped me and my company double in size twice in the last two years!

    ...

  • author
    Robert
    Jun 18, 2021
    Highly Recommend

    Wow what a great experience working with Credibly. Smooth, easy, professional, efficient, honest, and specifically working with Todd was such a pleasure! Definitely recommend!!

    ...

  • author
    Jo Anne Powers
    Jun 18, 2021
    Working with Credibly was outstanding

    Working with Credibly was outstanding. The main person that I worked with was Meaira Bennett, a Customer Service Representative. She was just outstanding.She was polite, could answer any and all questions. She was such a wonderful person to work with.

    ...

  • author
    Mark
    Jun 18, 2021
    Always a great experience

    This is my second time borrowing from Credibly and they continue to stand out from the crowd when it comes to rates and service. When looking for funding for my businesses, Credibly will always be my first stop.

    ...

  • author
    Galahad Security Services LLC
    Jun 18, 2021
    I appreciated the thoroughness and the…

    I appreciated the thoroughness and the attention to detail. Overall, I felt confident that I was dealing with a credible company interested in the growth of other businesses.

    ...

  • author
    customer
    Jun 16, 2021
    I had a very positive experience with…

    I had a very positive experience with credibly all the way through. They are professional and stated the terms clearly.

    ...

  • author
    customer
    Jun 16, 2021
    Always very easy to work with!

    Always very easy to work with!

    ...

  • author
    customer
    Jun 15, 2021
    I worked with Credidly For the second…

    I worked with Credidly For the second time , they bit rates , fast funding and good costumer service

    ...

  • author
    customer
    Jun 15, 2021
    Excelente Service

    Greg is awesome Thanks for everything Quick and easy for me

    ...

  • author
    Carolyn White
    Jun 15, 2021
    Professional and Succinct

    Professional and succinct. From start to finish. Look forward to working with Credibly.

    ...

  • author
    Rick Susie
    Jun 11, 2021
    The guys that helped me worked very…

    The guys that helped me worked very hard to get the loan done. brcause of their actions and persistence to details i will do buxiness with your company in the future!!!!!

    ...

  • author
    Infinity
    Jun 09, 2021
    Outstanding Service from Start to…

    Outstanding Service from Start to Finish!

    ...

  • author
    customer
    Jun 06, 2021
    We had a very good experience with…

    We had a very good experience with Credibly, and working with Philip. They got back to us fast and were transparent with pros and cons of our loan offer. The process of getting the funding was also very quick.

    ...

  • author
    customer
    Jun 05, 2021
    Been using their service for several…

    Been using their service for several years now. Once the process gets to Credibly its a breeze. Very easy and straight forward.

    ...

  • author
    Mike T.
    Jun 04, 2021
    Good terms and funding

    Good terms and funding, thank you for helping to get business loan.

    ...

  • author
    Wilson Amado
    Jun 04, 2021
    Scott was of enormous help

    Scott was of enormous help, secured a loan in less than a day! We found a person to go to for loans!

    ...

  • author
    Aleksander Popach
    Jun 04, 2021
    Professional people!

    Professional people!

    ...

  • author
    ROLANDO A. NOVOA
    Jun 03, 2021
    Thank you for your help

    Thank you for your help. Excellent costumer service, they helped me with every step and I'm so grateful. I'll recommend you 100%

    ...

  • author
    customer
    Jun 03, 2021
    Great experience

    Great company to work with.

    ...

  • author
    JEFFERY LEE
    Jun 01, 2021
    The transaction went very smoothly…

    The transaction went very smoothly Thank You

    ...

  • author
    customer
    May 30, 2021
    great to work with

    great to work with

    ...

  • author
    Southern
    May 28, 2021
    The complete process was very easy and…

    The complete process was very easy and the staff always responded is a very timely matter. We would use Credibly again if needed

    ...

  • author
    Santos Sanchez
    May 27, 2021
    Second time using credible for my…

    Second time using credible for my business and again very pleased hope to continue doing business with them in the future everything explained perfectly no hidden fees and an email showing how loan is declining thanks again

    ...

  • author
    Bhuvanam
    May 27, 2021
    If it was not for Credibly, it would have been a lost opportunity!

    If it was not for Credibly I would have lost this investment opportunity, which was a rare find. The process of applying for the loan was completely online with help and support to answer any questions I had while filling the paperwork. This is the largest loan amount that I have applied for so far and I really appreciate the help and support the lender has shown to meet the seller's demands on closing. - A Happy Customer

    ...

  • author
    Dale Roley
    May 27, 2021
    The process was professional and…

    The process was professional and performed in a short time frame. Thanks Dale Roley

    ...

  • author
    customer
    May 26, 2021
    Unable to sign up online not consistent…

    Unable to sign up online not consistent with monthly statements.

    ...

  • author
    Monge Relocations
    May 26, 2021
    It was quick and I'm happy with the…

    It was quick and I'm happy with the process!

    ...

  • author
    I Great Investor, LLC
    May 26, 2021
    Always is a pleasure work with…

    Always is a pleasure work with Credibly. Once again helping me boost my business and made the process so smooth that you even notice i was requiting a loan. Thank you very much. Great team, great costumer service and always there for you. Thank you a lot.

    ...

  • author
    customer
    May 26, 2021
    Awesome company to work with!

    Awesome company to work with!

    ...

  • author
    customer
    May 25, 2021
    Great communication and customer…

    Great communication and customer service. Quick response time too, overall, you did a great job!

    ...

  • author
    customer
    May 23, 2021
    Excellent and prompt service.

    Excellent and prompt service.

    ...

  • author
    customer
    May 23, 2021
    Very friendly thank you for your help.

    Very friendly thank you for your help.

    ...

  • author
    Mark Odell
    May 21, 2021
    very straight forward and professional…

    very straight forward and professional . I feel like this will be a good relationship now and in the future.

    ...

  • author
    Bryan barnes
    May 21, 2021
    It was a pleasure working with Nick

    It was a pleasure working with Nick He was a good guy and he did what he could for us and I would recommend him to anyone Huge help he was Thank u

    ...

  • author
    customer
    May 21, 2021
    Great and effective service!!!

    Great and effective service!!!

    ...

  • author
    customer
    May 20, 2021
    great service and fast loan approval.

    great service and fast loan approval.

    ...

  • author
    Unlimited Auto Repair Corp.
    May 20, 2021
    Always very friendly and helpful i cant…

    Always very friendly and helpful i cant say more the best. Thank to them im able to proceed.

    ...

  • author
    customer
    May 20, 2021
    Best service ever Paul was really…

    Best service ever Paul was really helpful he went out of his way to help me and got my funding within 24-48 hours I would recommend if your a new business or old busines.he can get you funding. Super simple process. Thank you

    ...

  • author
    Peggy Linton
    May 19, 2021
    Very fast and easy to work with

    Very fast and easy to work with. Emily 100%

    ...

  • author
    customer
    May 18, 2021
    Michael Simpao Made this one of the…

    Michael Simpao Made this one of the easiest loans I ever recieved. Thorough and professional

    ...

  • author
    customer
    May 18, 2021
    Working with Oliver and Credibly

    Working with Oliver was a pleasure. No pressure, here is what we can do, 3 options. Easy and fast.

    ...

  • author
    customer
    May 18, 2021
    Was a simple process

    Was a simple process. Everything they said was what happened. I trust them.

    ...

  • author
    customer
    May 16, 2021
    Very professional and convenient.

    Very professional and convenient.

    ...

  • author
    customer
    May 14, 2021
    Manager

    Great Team, easy to work with and fast funding.

    ...

  • author
    Mia
    May 14, 2021
    Very easy to use and straightforward…

    Very easy to use and straightforward terms.

    ...

  • author
    JWJ
    May 12, 2021
    BEST RATES OUT THERE BY FAR

    BEST RATES OUT THERE BY FAR! WAY TO GO!

    ...

  • author
    customer
    May 12, 2021
    Fast & Efficient

    Nick Regan worked fast and efficient to help us get a working capital loan when we needed one. With the aftermath of the pandemic, Credibly, Nick, and their team were awesome in making sure we had what we needed to move forward. Thank you!

    ...

  • author
    customer
    May 12, 2021
    Prompt

    Prompt, easy to work with

    ...

  • author
    customer
    May 10, 2021
    quick efficient and easily understood

    quick efficient and easily understood

    ...

  • author
    customer
    May 10, 2021
    service was great

    service was great

    ...

  • author
    customer
    May 07, 2021
    Great service

    Great service, not time waisted

    ...

  • author
    customer
    May 07, 2021
    They were fast and easy and no hassle…

    They were fast and easy and no hassle at all and I will be referring you guys to all of my friends as well ... Thanks

    ...

  • author
    customer
    May 06, 2021
    Great customer service and fast…

    Great customer service and fast transaction time!

    ...

  • author
    customer
    May 06, 2021
    Great company to work with

    Great company to work with

    ...

  • author
    Brad
    May 05, 2021
    Easy to deal with

    They were very easy to deal with

    ...

  • author
    Damaris Rascon
    May 05, 2021
    I love working with Ryan Bianchi

    I love working with Ryan Bianchi, I called the main line and requested a call from someone to work on getting more funds, and never heard from anyone. I emailed Ryan and heard back in minutes. your company is always my go to for quick funds, and i appreciate everything Ryan does for us!

    ...

  • author
    Customer
    May 05, 2021
    easy process to secure the fund

    easy process to secure the fund

    ...

  • author
    customer
    May 05, 2021
    Just got done playing phone tag

    We were suppose to get funded no later than the end of the day 05/04/21 had to pay $45 for that and it's now 05/05/21 and still have got the funding

    ...

  • author
    customer
    May 04, 2021
    Scott was of great help

    Scott was of great help. 100% recommended.

    ...

  • author
    Zachery Tarr
    May 04, 2021
    Great experience Nick Regan

    If your business needs funding these guys can help. This is my second time getting funding and Nick Regan makes the process as easy and pain free as possible and was able to get the funds I needed quickly which was huge as I was in a tight spot. Thanks again Nick!

    ...

  • author
    RUDY PAIZ
    May 04, 2021
    Fast

    Fast , Friendly, Easy Service.

    ...

  • author
    customer
    May 03, 2021
    Everything was very smooth

    Everything was very smooth. Credibly served our company well. Thanks

    ...

  • author
    customer
    Apr 30, 2021
    Great attention

    Great attention, customer service and negotiation.

    ...

  • author
    Best line construction
    Apr 30, 2021
    Excellent service

    Excellent service

    ...

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