Funding to cover expenses up to $400,000 with daily or weekly repayments.

Credibly mainly offers working capital loans to young businesses that need help covering overhead costs. Funding time is relatively quick — you can typically get your money within a business day of signing your loan documents. But you might want to look elsewhere if you don’t have steady, daily revenue coming in — this lender charges daily or weekly repayments. Read on to learn how Credibly can help your business.


Min. Amount


Max. Amount


Product Name Credibly Business Loans
Min. Amount $5,000
Max. Amount $250,000
Loan Term 6 to 17 months
Min. Credit Score 550
Requirements 6+ months in business, $180K annual business revenue, 500+ credit $15K+ in monthly deposits

Application Criteria

  • 6+ months in business,
  • Have $180,000+ annual business revenue
  • 500+ credit score
  • $15K+ in monthly deposits

First, do I qualify?

To qualify for a Credibly working capital loan, your business must:

  • Be at least six months old. Credibly doesn’t offer financing for startups.
  • Have a credit score of 500 or higher. Bad credit doesn’t necessarily mean you’ll be denied.
  • Have at least $15,000 in monthly deposits. This can be an average of the amount your business’s bank account receives in deposits each month — not net revenue.

When considering your eligibility for a working capital loan, Credibly places a lot of emphasis on your business’s cash flow. It considers both the amount of money your business puts in its bank account each month as well as how many negative cash flow days it has each month.

What is Credibly?

Credibly is a direct lender that specializes in unsecured business loans. It opened its doors in 2010 and has since won spots on two lists for the fastest growing companies: Crain’s New York in 2014 and Inc. 5000 in 2014 and 2016. The application process can be done entirely online and can take as little as a day or two from start to finish.

Credibly’s working capital loans are its most popular financing option. These work something like a merchant cash advance, where instead of interest, your business pays a fixed fee between 15 and 30 cents on the dollar. Loan amounts range from $5,000 to $250,000, though typically your business can qualify for up to 150% of its average monthly deposits. Once it gets its funds, your business makes daily repayments on the loan over 6 to 17 months.

Business expansion loans

More established businesses might want to look into Credibly’s business expansion loans. These are closer to a traditional business loan with APRs ranging from 8% to 25% — including a 2.5% origination fee. Loan terms can be as long as two years.

To qualify, your business must be around for at least three years and make an average of $35,000 in monthly deposits. Owners also must have a personal credit score of 660 or higher and Credibly has its own way of calculating your business’s credit score, thanks to a close relationship with Experian.

These loans might be less expensive than working capital and come with more forgiving weekly repayments. But they also come with limited lending amounts from $35,000 to $150,000 or up to 100% of your business’s average monthly deposits — a significantly smaller range than its working capital loan. This combined with the fact that they’re more difficult to qualify for might be the reason why it’s a less popular choice.

What makes Credibly business loans unique?

Credibly’s business loans come with a wide range of loan amounts and flexible uses. They’re also available to a few industries that can have a hard time finding funding, including used car dealers, doctors, lawyers and real estate companies. It’s not open to everyone though — less traditional high-risk industries like cannabis won’t qualify.

Its turnaround time is quick compared to banks and credit unions, though it’s not necessarily the fastest online lender out there. And while daily repayments let your business chip away at the loan balance in smaller, more regular amounts, your business might not qualify if it doesn’t have regular cash flow coming in each day.

Credibly has office locations in New York, Arizona and Michigan.

What are the benefits of a Credibly business loan?

  • Wide range of amounts. Loans start as low as $5,000 and can go as high as $250,000.
  • No collateral required. Credibly’s business loans are unsecured so you don’t need to provide a personal guarantee or lien on your business’s assets.
  • Open to some high-risk industries. This financing option is available to doctors, lawyers, real estate companies and some other legitimate industries that lenders consider high risk.

What to watch out for

  • High cost. Your business could end up paying as much as 30 cents on the dollar for your business loan.
  • Daily repayments or weekly repayments. These less-flexible options mean that your business needs to have a history of steady cash flow to qualify.
  • Short terms. Shorter loan terms typically translate into higher repayments.

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