Best for fast prequalification
- Loan amount
- $25k- $400K Term: 3 - 15 months
- Interest rate
Interest will typically be quoted as an annual percentage rate (APR), which reflects interest rate and any other charges and fees you may have to pay.
- 1.11 factor rate
- Fastest funding
- 1 business day
- Full financing application takes just ~10 minutes
- Enjoy some of the most competitive pricing in the alternative lending space
- Factor rates* as low as 1.11
- Daily, weekly, and monthly** payment and remittance options
- Approvals as fast as 4 hours
Bankrate Rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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*Factor rates are included in your daily estimate to simplify remittances and account monitoring. Best factor rates available to merchants with excellent credit and financial strength.
**Some products are made available through Credibly’s network of external funding partners
- Potential early repayment discount
- Prequalify in as little as 10 minutes
- Funds in as little as one day
- Unavailable in 13 states
- High minimum revenue requirement
- High minimum borrowing amount
WHAT TO KNOW
For Credibly’s working capital loan, your business needs at least $25,000 in average monthly deposits for the last three months. Applicants must total at least a 51% stake in the business. Payments can be made daily or weekly. Credibly charges a 2.5% origination fee.
This loan is unavailable in the following states: CO, DE, GA, Ml, MT, NV, NJ, ND, OK, OR, SD, TX and VT.Business credit score:N/A
There are four companies that assess business credit scores: Dunn & Bradstreet (D&B), Experian, Equifax and FICO. Each calculates their own scores based on various scales. D&B and Experian rank on a 1-100 scale. FICO scores on a 0-300 scale. Equifax generates 3 separate scores based on business payment index (1-100), business credit risk (101-992), and business failure (1,000 - 1,880).Personal credit score:550
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator of the loans you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.Personal guarantee requirement?:No
This is a form of protection for lenders requiring the borrower to repay the loan from their personal assets if the business defaults. A personal guarantee can help some businesses access credit that typically wouldn't qualify.Minimum time in business requirement:6 monthsMinimum business annual revenue:$300,000