Short-Term Loan by Credibly
Credibly leverages data science, technology, and an energetic focus on the customer experience to provide loan products that are tailored to your business’s short-term needs and long-term goals. With the ability to provide up to $250,000 in capital in as little as 24 hours, their fast, flexible capital solutions are ideal for both growth initiatives and supporting working capital. Soft credit pulls only – No collateral required.
Nav's Verdict
6/10
Bottom Line
Credibly is very comparable to other alternative online lenders. Because of their pre-qualification, you can see if you qualify and then research if it's the best option for you.
Pros
Set payments. Pre-qualification, which means you can pre-qualify without hurting your credit.
Cons
You must have at least $10,000 a month in deposits, which might be difficult if your cash flow varies from month to month.
Qualification requirements
Time in Business
At least 6 months in business
Monthly Revenue
At least $15,000
Required Documentation
Business lease agreement (or mortgage statement if you own), unexpired government-issued picture ID of all owners, most recent business tax returns, most recent 3-months of bank statements.
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