Credibly Merchant Cash Advance Review 2025
Startups and bad-credit borrowers may get a short-term advance as high as $600,000, but will need strong revenue.
Overview
The bottom line:
Credibly offers up to $600,000 and can be a good fit for startups or owners with bad credit, but your business will need to generate at least $15,000 in monthly revenue. Like all merchant cash advances, expect steep borrowing costs.
Loan details
Min. Loan Amount
$5,000
Max Loan Amount
$600,000
Qualifications
Min. credit score
500
Min. Time in Business
6 months
Min. Annual Revenue
$180,000
Pros & Cons
Pros
Low starting factor rate compared with other MCAs.
Startups and bad-credit borrowers may qualify.
Prepayment discounts available.
High customer ratings on platforms like Trustpilot and ConsumerAffairs.
Cons
High minimum revenue requirement compared with other MCAs.
Can’t be used to build business credit.
Charges an origination fee and a monthly administrative fee.
Credibly offers merchant cash advances
Editor’s note: Credibly also offers other types of loans, like equipment loans or business lines of credit, through its lending partners. This review will focus on its MCA offering.
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IN THIS REVIEW
Credibly is best for borrowers who:
- Have strong credit card sales. You’ll need to show an average of $15,000 in monthly sales over the past three months to qualify. You’ll also want a strong enough profit margin to handle repayments alongside your other business expenses.
- Need fast cash. Funding can arrive as soon as the same business day. This is common among online lenders, whether they offer MCAs or other types of
online business loans - Can’t qualify for other types of business financing. Credibly’s MCA may be a viable option if you can’t secure traditional forms of financing due to a low personal credit score, limited time in business or lack of collateral.
❗ Nerdy Tip
Merchant cash advances are one of the most expensive financing options. Business owners should explore all other small-business loan options
Credibly requirements
To qualify for an MCA from Credibly, you’ll need to meet the following minimum requirements:
- Credit score: 500.
- Time in business: 6 months.
- Annual revenue: $180000, although a representative told NerdWallet they may accept applicants who make a bit less.
Credibly features
| Advance amount | $5000 to $600000. |
| Factor rates | Start at 1.11. |
| Fees |
|
| Terms | Borrowers repay their advances in 3 to 24 months, on average. |
| Repayment schedule | Daily or weekly. |
| Funding speed | As fast as the same business day. |
Calculate MCA costs
Curious what a merchant cash advance from Credibly might cost? Plug your numbers into our MCA calculator and find out.
» MORE: Merchant cash advance calculator
Where Credibly stands out
Relatively low starting factor rate
While Credibly’s MCA will still be pricier than most non-MCA funding options, it offers a fairly low starting factor rate of 1.11. However, only the most qualified borrowers will likely see that rate.
Credibly’s cash advance also offers a discount for early repayment, which can help save money.
Low credit score and time in business requirements
Many traditional lenders set high bars to clear before you qualify for a business loan or line of credit. For example, bank loans typically require a personal credit score of 700 or higher and a minimum of two years in business. They can also take weeks to fund.
With Credibly’s MCA, you may qualify with a credit score as low as 500 and just 6 months in business.
Still, it’s worth checking out alternatives that may be more affordable for startups and bad-credit borrowers, such as microloans
Helpful customer support
Credibly offers three ways to reach customer support: phone, email and text message. When NerdWallet tested all three, we found representatives to be helpful, well-informed and friendly.
However, there were a couple of times when no one answered the phone, and one text reply took 18 hours and required a follow-up.
Where Credibly falls short
High revenue requirements
To qualify for Credibly’s MCA, your business will need to generate at least $180000 a year. That’s relatively high compared with some other MCAs NerdWallet analyzes. However, a representative told NerdWallet that in certain cases, businesses earning less may still be eligible.
Extra fees
Credibly charges a 2.5% origination fee and a monthly $50 administrative fee. While $50 may not sound like a lot, it adds up to $1,200 if it takes 24 months to repay the advance. That said, Credibly’s origination fee is slightly lower than those charged by some other merchant cash advance providers.
Alternatives to Credibly
Expansion Capital Group
Consider if: You make less than $180000 a year.
Expansion Capital Group may be another viable option for startups and borrowers with bad credit. Like Credibly, its MCA requires a minimum credit score of 500 and 6 months in business.
Businesses may qualify with as little as $100000 in annual revenue, making it a potential alternative for those who don’t meet Credibly’s $180000 revenue requirement.
However, Expansion has a slightly higher starting factor rate of 1.18 and charges a 3.9% origination fee, which could result in higher overall costs compared with Credibly.
eLease
Consider if: You need to buy business equipment.
If you need cash to buy business equipment — such as vehicles, office furniture or machinery — eLease’s equipment financing may be an option.
The lender accepts startups and borrowers with personal credit scores as low as 550, and possibly even lower. There is no minimum annual revenue requirement. Because eLease and other equipment financing options
However, applications must be made by phone, and you may pay a prepayment penalty if you try to repay your loan within the first year.