Credibly Logo

Loan Amounts


$5,000 - $400,000

Loan Term


3 - 24 months

APR Range


9.99% - 45%

Min. Credit Score



Editorial Rating

Credibly Logo

Editorial Rating

Credibly Review

Advertiser disclosure This page may contain links to our partners’ products and services, which allows us to keep our website sustainable. This means that may receive a compensation when you sign up and / or purchase a product or a service using our links. However, all opinions expressed in this article are solely ours, and this content is in no way provided or influenced by any of our partners.

Loan Amounts


$5,000 - $400,000

Loan Term


3 - 24 months

APR Range


9.99% - 45%

Min. Credit Score





2.5% origination fee

Funding Time


Up to 5 business days

Founded in



BBB Rating



Min. Revenue


$15,000 per month



All states + DC

Credibly Logo

Editorial Rating

Credibly is a financial services company that offers business loans for bad credit.

Our review will provide you with answers to all the questions you may have about this company, including:

  • What type of business loans Credibly offers and who they are best for
  • How to borrow money from Credibly
  • The Credibly terms and requirements
  • Third-party Credibly reviews
  • The pros and cons of using Credibly
  • The costs associated with Credibly loans
  • The privacy policy of Credibly
  • How to contact Credibly’s customer service
  • Frequently asked questions (FAQ) about Credibly

What Is Credibly?

Credibly is a company that provides small business loans and financing to small and medium-sized businesses.

The company was founded in 2010 and has since provided over $1 billion to more than 19,000 small and medium-sized businesses.

Credibly offers the following types of small business loans:

  • Paycheck Protection Program loans
  • Economic injury disaster loans
  • Working capital loans
  • Business expansion loans
  • Merchant cash advance

Who Is Credibly Best For?

The service is best for a business seeking fast financing. The application process is fairly straightforward, and those that have been approved receive the funds within a few business days.

Getting Started With Credibly

To start your application with the platform, visit the official website and click on ‘Get Started’.

You will then need to fill out a free application form.

First, choose the loan amount. The options from the drop-down menu range from $5,000 to $400,000.

The following information is required:

  • Business name
  • Monthly revenue
  • First name and last name
  • Phone number and email

After you have completed the online form, you will need to wait and see if you have prequalified for Credibly business loans.

The platform uses the following information to assess the health of your business:

  • Credit information 
  • Business cash flow
  • Recent bank statements and other data 

The preapproval process takes 24 hours. If you are approved, a specialist will reach out to you to discuss your small business funding options.

The whole process from applying for Credibly loans to receiving the funding can take as little as a few business days.

Terms & Requirements

In order to apply for Credibly business loans, borrowers need to meet the following requirements:

Working Capital Loan Borrower Requirements

  • A FICO score of at least 500
  • A minimum of 6 months in business
  • A minimum of $15,000 average monthly bank deposits for a three-month average and the most recent month

Required Documentation:

  • A signed business loan agreement
  • Business mortgage statement if you own or a business lease agreement if you rent
  • Unexpired government-issued picture ID of all owners
  • Recent bank statements
  • Most recent business tax return for loans over $100,000

Maximum loan amount: Up to $400,000

Term length: 6 to 18 months

Factor rates: Starting at 1.15

Automatic payments: Daily or weekly

Merchant Cash Advance Borrower Requirements

  • A FICO score of at least 500
  • A minimum of 6 months in business
  • A minimum of $15,000 average monthly bank deposits for a three-month average and the most recent month

Required Documentation:

  • A signed receivables purchase agreement
  • Business mortgage statement if you own or a business lease agreement if you rent
  • Unexpired government-issued picture ID of all owners
  • Recent bank statements — most recent 3 months
  • Most recent business tax return for advances over $100,000

Maximum loan amount: Up to $400,000

Anticipated duration: 3 to 18 months

Factor rates: Starting at 1.15

Automatic remittances:  Tied to receivables

Business Expansion Loan Borrower Requirements

  • A FICO score of at least 600
  • A minimum of 3 years in business
  • A minimum of $15,000 average monthly bank deposits for a three-month average and the most recent month
  • Average daily balance of at least $3,000

Required Documentation:

  • A signed business loan agreement
  • Business mortgage statement if you own or a business lease agreement if you rent
  • Unexpired government-issued picture ID of all owners
  • Recent bank statements 
  • Most recent business tax return for loans over $100,000 

Maximum loan amount: Up to $250,000

Term length: 18 or 24 months

Interest rates: Starting at 9.99%

Automatic payments: Weekly 

For more details about getting a Paycheck Protection Program (PPP) loan via Credibly, click here.

For more details about getting an economic injury disaster loan via the platform, click here.

User Reviews

We looked up Credibly reviews online, and we will now sum up what customers are saying about their lending experience.

There are currently more than 550 Credibly reviews on Trustpilot. The company has an average rating of 4.1 stars.

Customers are mostly satisfied with how smooth and fast the process for obtaining Credibly funding is. The current situation with Covid-19 has impacted a lot of business owners and left them looking for ways to get quick financing.

The Credibly PPP loan reviews, however, were mixed. Some customers had a positive experience, or in other words: managed to get a loan. Other business owners were not so lucky. Due to the large number of applicants for a PPP loan, most lenders take longer to process the applications. Naturally, business owners that had waited for a while were frustrated. Even more so once they found out that they were rejected.

We also noticed that some Credibly reviews on Trustpilot are hidden. They had been reported by the platform for breaching Trustpilot’s guidelines.

The company also has a profile on Consumer Affairs, though it is not accredited. There are only 17 Credibly reviews on Consumer Affairs, and the company has a 2.9-star rating.

The Credibly PPP reviews meanwhile see applicants complain that their applications were canceled, leaving them with no business funding. There is another older complaint regarding the high rates that the service charges for a loan. However, this is a common complaint about bad credit loans. Lenders take creditworthiness into account in order to evaluate the risk of lending money. Applicants with bad credit are riskier borrowers and as a result, a bad credit loan is always more expensive compared to a loan for borrowers with good credit.

Credibly also has a profile with the Better Business Bureau, and they have been accredited since 2010. The company has a 1-star average rating from 10 reviews total, while the Credibly BBB rating is A+.


There are some important features about Credibly to consider.

Rates & Fees

We will start off with the cost of working capital loans. They start off at a factor rate of 1.15. In order to calculate how much you will need to repay, multiply the loan amount with the factor rate.

For example, if your loan amount is $10,000 and your factor rate is 1.15, you will need to repay $11,500.

The lowest factor rate is offered to applicants with ьх excellent credit score and whose business is deemed financially strong.

The Credibly interest rates for business expansion loans start off at 9.99%.

You will also be charged a one-time 2.5% origination fee of the total loan amount for both working capital loans and business expansion loans.

The platform’s merchant cash advances have a factor rate of as low as 1.15. They also charge a $50 monthly fee and a one-time 2.5% of the total amount underwriting fee.

Privacy & Security

Credibly collects the personal information you submit with your applications, we well as the information needed to verify your identity and your credit details.

Your information may be shared with:

  • Government entities
  • Service providers
  • Affiliates, subsidiaries and third parties
  • Investors, partners, and auditors 

The platform takes security measures to safeguard your information.

For any questions or requests you may have regarding your personal information, you can email the Credibly company or call customer support.

Customer Support

Credibly customer support can be reached via phone, email, or the contact form on their website.

Credibly Alternatives

How does Credibly compare to other lenders?

Credibly vs OnDeck

OnDeck is another online small business lending company, which provides two types of loans for small businesses:

  • Term loans 
  • Business lines of credit

OnDeck offers a revolving line of credit from $6,000 to $100,000 and a term loan from $5,000 to $250,000.

Compared to OnDeck, Credibly has lower loan requirements. To apply for OnDeck funding you need a FICO score of at least 600.

Other loan eligibility requirements include:

  • A business bank account
  • At least 1 year in business
  • Annual revenue of at least 100,000

The APR starts at 11.89%.

For more details, check out our OnDeck lending platform review here.

Credibly vs Kabbage

Kabbage is a fintech company that offers two types of small business funding:

  • Kabbage Funding — a business line of credit
  • Kabbage Payments — an invoicing service

Kabbage’s business lines of credit range from $1,000 to $250,000.

To qualify for Kabbage Funding, your business must meet the following criteria:

  • Be at least 1 year old
  • Have annual revenue of at least $50,000 (or $4,200 per month over the last three months)

Unlike Credibly, Kabbage does not have a minimum credit requirement. When determining whether your business is eligible, they mostly focus on your revenue.

For more details, check out our Kabbage review.

Credibly vs Fundbox 

Fundbox is also a financial technology company that offers a business line of credit and trade credit to small business owners.

Fundbox and Credibly have the same credit score requirement: at least 500.

They require you to have at least $50,000 in annual revenue, though you can apply if you have less.

Fundbox has another extra requirement: business owners need to connect their business accounting software or business bank account to their Fundbox account.

You can get a line of credit of up to $100,000.

For more details regarding Fundbox, check out our review.

Final Verdict

Now, let’s sum up what we liked and didn’t like about Credibly.

What we liked the most are the low borrower requirements. You don’t need a perfect score in order to apply. The service focuses more on how well your business is doing.

After your loan has been approved, you can get your funds within 48 hours — that makes Credibly the perfect lending option for small business owners that need emergency funding.

What we didn’t like are the high fees. However, as credit scores the likelihood that person will pay their debts, it is natural to assume that bad credit loans will cost a bit more.


  • Offers unsecured loans for bad credit
  • Low borrower requirements
  • Funds can be deposited within 48 hours after loan approval


  • High fees
  • Charges an origination fee
Credibly Logo

Editorial Rating


Is Credibly legit?

Yes, this is a legitimate company that has been founded in 2010. Credibly also has a LinkedIn profile.

How does Credibly work?

Business owners have the option to borrow money online. The application process is simple: applicants need to feel out an online form to see if they prequalify. If they do, a loan specialist will contact them to discuss their options. If the applicant accepts the offer and the loan is approved, funding can be received within 48 hours.

Does Credibly check credit?

When you first apply, Credibly will only do a soft inquiry or a soft pull, which won’t affect your credit score. However, before reaching a final decision and providing you with business funding, the platform will do a hard inquiry or a hard pull. This can negatively affect your credit score by a few points.

Can I get a loan from Credibly if I have a bad credit score?

The minimum credit score required for applying for merchant cash advances and working capital loans is a FICO score of at least 500. While your score increases your chances of obtaining funding, your business’s health is considered in the assessment.

How much can Credibly lend?

The platform’s maximum loan amount stands at $400,000.

What is the interest rate on a Credibly loan?

Credibly’s interest rate starts at 9.99% for expansion loans, while their merchant advances and working capital loans have factor rates starting at 1.15.

How fast are Credibly loans approved?

According to some Credibly reviews, the approval for the PPP loans took around 10 days. This is due to the larger number of applications. In normal circumstances, customers have stated that they received funds within 2-3 business days.