Creditfy vs. SMB Compass
Creditfy and SMB Compass both offer a variety of business loans with maximum loan amounts soaring into the millions. But Creditfy accepts applicants with personal credit scores in the 500s for term and equipment loans. SMB Compass sticks with the fair credit range. It approves a 600 personal credit score for its business lines of credit or equipment loan.
SMB Compass also offers more alternative types of financing. Its options include invoice, inventory, purchase order and asset-based financing, alongside conventional loans like a term loan. The only alternative types of funding Creditfy offers are invoice financing, bridge loans and SBA loans.
Creditfy vs. Lendio
Creditfy and Lendio both cater to bad credit businesses with credit scores in the 500-to-600 range. With Creditfy, you can get a term or equipment loan with a 500 or 550 personal credit score. If your credit score is bumped up into the 600s, you can choose from a business line of credit or SBA loan.
With Lendio, you can qualify for business lines of credit, SBA 7(a) loan or SBA microloan with poor or fair credit. Lendio also offers merchant cash advances and doesn’t care about your credit score to get approved for that type of financing.
Keep in mind Lendio is a loan marketplace with over 75 lenders, helping you compare multiple lenders to find the best loan offer. Creditfy is a direct lender that also partners with a network of lenders to help you qualify for a loan with competitive rates and terms.