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Advertiser & Editorial Disclosure

Business Cash Advance by Credibly

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Credibly combines a strong focus on the customer experience with big data to offer fast funding and flexible repayments. They do this by providing capital in return for a portion of business future receivables. Borrowers do not pay more than what they can afford on a monthly basis.

Nav's Verdict

Cost

LowHigh

Effort to Apply

EasyDifficult

Funding Speed

MonthsMinutes

Repayment Terms

MonthsYears

6/10

Bottom Line

Credibly offers flexible repayment plans with fixed rates, based on future receivables. Ideal for seasonal businesses and those with high credit card processing volumes.

Pros

Fixed payments. Offers the ability to pre-qualify without affecting your credit.

Cons

Must have at least $25,000 a month in sales, Max repayment term is 15 months

Qualification requirements

Time in Business

At least 18 months in business

Annual Revenue

At least $180,000

Required Documentation

Unexpired government-issued picture ID of all owners, voided check, most recent 3-months of credit card statements, most recent 3-months of bank statements.

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Cost

Factor rates as low as 1.11

Repayment Terms

Daily debits from your bank account for 3 to 18 months

Funding Amount

$5,000 - $400,000

Origination Fee

2.5%

Funding Speed

As quickly as 1 business day

Repayment Example

$10,000 (capital amount) x 1.34 (factor rate) = $13,400 (total payback amount)

Reviews

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Personal FICO credit scores and other credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit or financing type you are eligible for. Nav uses the Vantage 3.0 credit score to determine which credit offers are recommended which may differ from the credit score used by lenders and service providers. However, credit score alone does not guarantee or imply approval for any credit card, financing, or service offer.

Editorial Disclosure

Any personal views and opinions expressed are author’s alone, and do not necessarily reflect the viewpoint of Nav. Editorial content is not those of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities.

Reviews are not provided or commissioned by the credit card, financing and service companies that appear in this site. Reviews have not been reviewed, approved or otherwise endorsed by the credit card, financing and service companies and it is not their responsibility to ensure all posts and/or questions are answered.