Credibly Reviews

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About Credibly

Credibly is a financial service provider focused on small to medium-sized business loans. Founded as Retail Capital, the company now offers a variety of loan types, including working capital loans, merchant cash advances and more. Credibly stands out for its fast funding, serving over 30,000 businesses with over $2 billion in financing.

    Pros & Cons

    • Lenient credit score requirements
    • Serves a wide range of industries
    • Receive funds in as little as 24 hours
    • Variety of loan products
    • Simple application process
    • Factor rate model may confuse some
    • Not ideal for startups
    • Requires at least $15,000 in monthly income

    Our editor’s take on Credibly

    Credibly stands out in the small business lending market for its clear terms and eligibility requirements. It caters well to small and medium-sized businesses, particularly those with at least six months in operation and a credit score of 500 or higher. But you’re also required to have at least $15,000 in monthly revenue, which might be challenging for smaller or newer businesses to meet.

    For businesses that do meet these requirements, Credibly offers a straightforward and quick path to funding, with a variety of loan options to suit different needs.

    Credibly products

    As a direct lender, Credibly specializes in working capital loans and merchant cash advances. But it also partners with other lenders to provide a broader suite of services. This mix of direct lending and partnerships allows Credibly to offer tailored solutions to different businesses.

    Working capital loans

    Working capital loans are designed to support the day-to-day operations of your business. These loans can be up to $400,000, with term lengths ranging from three to 15 months. Payments are made either daily or weekly.

    To qualify, your business needs to be U.S.-based, in operation for at least six months and generating a minimum of $15,000 in monthly revenue. The application requires basic documents like a business loan agreement, ID and bank statements.

    Merchant cash advances

    Merchant cash advances provide flexible funding based on your future sales. They’re ideal for businesses with varying revenues. The maximum advance is $400,000 and is tied to a percentage of your daily credit and debit card sales. Credibly’s cash advances have three- to 15-month terms.

    SBA loans

    SBA loans are facilitated through Credibly's partner network. These loans are best for businesses with at least two years of operation, $100,000 in annual revenue and a credit score of 620 or higher.

    Approval times for SBA loans can vary, typically taking a couple of months. These loans are known for having good terms and rates for eligible businesses.

    Business lines of credit

    Credibly’s business lines of credit are offered through partner lenders. They can be unsecured or secured and provide funding up to $300,000. With lines of credit, you only pay interest on the amount you draw, much like a credit card. It’s ideal for businesses that need access to funds on an as-needed basis.

    Equipment financing

    Credibly's equipment financing options help businesses purchase or lease necessary equipment. Loan amounts vary based on how much the equipment costs and can range from $10,000 to $10 million. Because the equipment itself serves as collateral, there’s no minimum credit score or minimum revenue requirement.

    Long-term loans

    Long-term loans are accessible through Credibly's network. They can go up to $250,000 and typically have terms of 18 or 24 months.

    Invoice factoring

    With invoice factoring, you can turn outstanding invoices into immediate cash. This financing option is ideal for businesses that experience long payment delays. You sell your outstanding invoices to a lender, and then receive up to 95% of the invoice value upfront, for a maximum loan amount of $400,000. The factor company then collects the payment from your clients.

    Credibly rates

    Like many small business lenders, Credibly uses a pricing model based on "factor rates" rather than the traditional annual percentage rate (APR). A factor rate is a straightforward way to represent the cost of borrowing. It's expressed as a decimal figure rather than a percentage.

    Credibly mentions factor rates as low as 1.11 for many of its products. This means that for every dollar borrowed, you pay back $1.11. So, if you borrow $10,000 at a factor rate of 1.11, the total amount you'd repay is $11,100. This method differs from APR, which annualizes the total cost of borrowing, including both interest and other fees.

    Credibly fees

    In addition to factor rates, Credibly also charges certain fees associated with its loan products. A 2.5% origination fee is common. It’s typically deducted from the total loan amount. So, if you receive a $10,000 loan with a 2.5% origination fee, the fee would be $250, and you'd actually receive $9,750 in funding.

    Other fees may include a 2.5% underwriting fee for merchant cash advances and a $50 monthly admin fee. The exact fee structure can vary depending on the financial product you choose. Ask about all possible fees to understand the total cost of borrowing.

    How to apply for a Credibly loan

    You can apply for a Credibly business loan online. The steps usually look like this:

    1. Fill out a pre-qualification form on Credibly’s website. This process involves entering some basic information about your business.
    2. Provide essential documents. This typically includes a signed business loan agreement, a mortgage statement or lease agreement for your business property, government-issued ID and recent bank statements. For loans over $100,000, your most recent business tax return is also required.
    3. Receive approval. Credibly often approves loans in less than four hours. If you’re approved, a loan advisor will contact you to discuss your loan options.
    4. Receive funding. Once your loan is finalized, the funds are deposited directly into your bank account, often available on the same day.

    Specific requirements vary by loan product, but you generally need to meet these criteria for a Credibly business loan:

    • At least six months in business
    • 500-plus minimum credit score
    • $15,000-plus in monthly revenue

    How does Credibly compare?

    Compared with some competitors, Credibly has a low credit score requirement but also short loan terms. Its loan amounts and required revenue fall somewhere in the median range. For example, here’s how Credibly’s working capital loans compare to two competitors, OnDeck and Quickbridge.

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    Credibly FAQ

    What does Credibly do?

    Credibly provides a variety of financial products, including loans and advances, to small and medium-sized businesses. It specializes in working capital loans, merchant cash advances and other business financing solutions.

    What is the minimum credit score for Credibly?

    The minimum credit score requirement for Credibly’s products typically starts around 500, although it can vary. SBA loans, for example, usually require a score of 620 or higher.

    Is Credibly the same as Retail Capital?

    Yes, Credibly was formerly known as Retail Capital. It continues to provide similar financial services to small businesses under the new name.

    Is Credibly legit?

    Credibly has established itself as a legitimate player in the small business lending space. Since its inception, when it was known as Retail Capital, the company has grown significantly in both scope and scale. Over the years, Credibly says it has serviced more than 30,000 businesses, extending over $2 billion in funding across 325 industries.

    Credibly Reviews

    Stars Rating

    • 13%
    • 32%
    • 17%
    • 1%
    • 38%

    Popular Mentions

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      How do I know I can trust these reviews about Credibly?
      • 4,461,922 reviews on ConsumerAffairs are verified.
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      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.
      Page 1 Reviews 0 - 10
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      Customer ServiceStaff

      Reviewed Aug. 4, 2023

      Brien is extremely unprofessional and not polite! It seems like only 3 people work there and almost every time you call you’ll get the same person! Apparently Unprofessional and illegitimate company! I have a balance I am trying to pay and they’re pushing me off the edge to send it to outside collection company.


      Reviewed June 21, 2023

      Got a loan on June 7th 2022- the loan was for 14 months. Payable weekly! Before you agree to a loan find out how many weeks they consider in a month. Credibly sees 5 weeks per month which means you are paying more than 14 months! In 2020, 2021, 2022 and 2023 only 4 months out of the year have 5 weeks. Sounds unfair to me. In 2024 there will be 5 months that have 5 weeks in it! So be prepared! Good Luck. I’m almost done & will not repeat that mistake. They also charge you $775 origination fee to take your money oh and $50 each month they withdraw from you to boot. A girl trying to Peter & Paul.


      Hi Irene, thank you for taking the time to leave us feedback on your experience. The weeks you are referring to include days from both months. We looked into your account and saw that there were no additional charges made and that you only paid for the days included in that week. If you have additional concerns, please contact your sales representative or contact Credibly's customer service department at

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        Contract & Terms

        Reviewed Sept. 9, 2022

        I received a Small Business Loan through another company from them at 60 percent interest. I was having to pay $110 everyday to them. I made it through 6 months with no concerns but my business plummeted from Covid. In January, when I went to contact them about my account to ask to have my payment decreased, I discovered they had breached contract by collecting payment on a Saturday in January and a holiday as well. The following Monday they collected a payment on President's day. Of course, both payments were in presentments Saturday and Monday. Tuesday morning they posted because the bank was closed Saturday and Monday. I immediately put a stop payment on their collections.

        We went back and forth all of January and February before they posted a judgement against me with the state of Arizona where I do not live or do business. I was in the throws of Covid sludge and was not even given an address by the state to tell me where to send my info to prove their breach of contract and harassment of me. Because of this, the state ruled in their favor and tried to garnish monies from the same checking account. My bank went to bat for me and told them they could garnish nothing since they had two pieces of information including the account name incorrect. They filed a UCC with My state against me even though they were shut down on collection. This business only cares about money and will not work things out with their clients! DO NOT DO BUSINESS WITH THEM!!!!


        Hi Jennifer, we have no record of collecting payments on those days mentioned and you refused to provide the documents showing us this to be true. We attempted to work with you on lowering your payments but you demanded an even lower monthly payment than what we could offer and proceeded to retain an attorney. You also have not provided us with contact information for this attorney so that we could resolve this matter and we were forced to take legal action for your breach of contract.

        Customer ServicePunctuality & Speed

        Reviewed Feb. 12, 2022

        I applied online and was declined. Someone by the name of Cecil called me and promised that he would help me obtain a loan from Credibly that he worked for the company. Even though, I told this man that I had an already approved loan but wasn't too impressed with its payback offer, he told me to cancel the loan and promised that he must get me approved with his company. I went ahead and did as he asked. He asked me for more documents and I went ahead to forward him more documents. At the end, it so happened that he couldn't fulfill his promises and started sending all my calls to his voice-mail. Afterwards, I received an email asking me to fill out an application for a loan pre-qualification from this same man. I was in shock, didn't know this level of unprofessionalism existed. Please don't waste your time with this company. A complete waste of time. Move on to other companies.

        Customer ServiceStaff

        Reviewed Dec. 30, 2021

        I read the bad reviews but I still submitted a loan to Credibly….. Rob ** was completely unprofessional and handling my application. He did not communicate anything. I had to text him and ask him what was going on and when I did he told me that they had denied my loan because there was only one deposit per month, but that isn’t true. There’s actually a minimum of two deposits and I asked him why they didn’t consider that and he did. Again stated that there is only one deposit for the same amount. Apparently he cannot read a bank statement and he should not be working in a lending institution.

        I asked for the name and contact for his supervisor instead he gives me the call center, so of course I can’t really contact Chad, his manager. We need to step it up and get these people fired seriously, there’s nothing like someone wasting your entire week erroneously and then sending you a rejection letter because they can’t read your bank statement that clearly has more than one deposit.

        Punctuality & Speed

        Reviewed Nov. 12, 2020

        They will tell you they can fund your business, after knowing the details of your company, financial picture, and credit. Then, they will decline you for the same things you already told them and they said were well within the underwriting parameters for an approval. Waste of time, and effort.

        Customer ServiceSales & Marketing

        Reviewed May 28, 2020

        #Credibly cancelled all the loans that were being processed thru #LibertyBank then thru #Celticbank and I only found out by a #Celticbank insider per email from **. Nothing connects all 3 Companies, I saw thru my spam that #Liberty and #celticbank were connected. This email went on May 21, 2020. The Applicants got Nothing, Nada, Zip. #ClassAction #LibertyBank #CompletelyScrewed #CARESAct #AttorneyGeneralOfOhio #AttorneyGeneralofNewYork #Uncredibly #NoCredibly #LawSuit #ThisIsWhyPublicHatesBanks

        Customer Service

        Reviewed May 20, 2020

        Almost no customer service. I waited for 3 weeks for an update on the application for PPP. They outsourced it to a different service, which outsourced it to a different service, which denied my loan information. It turns out my monthly payroll was too low to be considered by this service, so it was a complete waste of time. 0/10. Do not recommend.

        Customer ServiceStaff

        Reviewed April 11, 2020

        Moe Ghani CEO, whatever, is dishonest. He makes promises he can't keep. I had 3 days to cancel a loan and I was on my way to the bank to cancel. He told me he would look like a real ** (you fill in the symbols) if I did and give it a few months and he would make things right. He never did. He said he could get me a better loan, not interested. Now during this crisis they've drained my account and keep trying to get more and are sending me threatening emails. Avoid this company, they are not good, BEWARE!!

        Customer ServiceStaff

        Reviewed April 9, 2019

        I was contacted several times by Dante ** from this company regarding a business loan. He was so rude and offensive that I asked to speak to his supervisor & his sarcastic answer was, "good and while you are at it you can tell him I said hi". He put me on hold and then hung up on me. I called him back and he just would pick up and hang up, but is continuing to text me about a loan deal! None of the phone numbers to Credibly's business work, they all just ring with no answer. I tried contacting Ryan Rosett or Edan King who are the Co-CEO's of the company but they are unreachable. The company name should be Scamily not Credibly!

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          Credibly Company Information

          Company Name:
          Year Founded:
          25200 Telegraph Rd. #350
          Postal Code:
          United States