Recent News

In October, Credibly closed its first securitization—a giant step forward for our company that will allow us to offer capital to a wider range of small business owners than ever before. Since the term might be unfamiliar to many of our customers, we’ve decided to shed some light on our securitization and what will it mean for SMB borrowers in the future.

What is a securitization, anyway?

In a securitization, a company pools together its revenue-generating financial assets, divides them into tiers by the projected value of the assets, and offers shares of those tiers to smaller investors. (In Credibly’s case, the financial assets are the business loan debts we carry on our balance sheet, and we divided them into three tiers based on a number of factors including the loans’ level of risk as well as the time and principal amount remaining on the loans.)

As Investopedia explains, “Securitization provides creditors with a mechanism to lower their associated risk through the division of ownership of the debt obligations. The investors effectively take the position of lender by buying into the security. This allows a creditor to remove the associated assets from their balance sheets.”

So, not only does a securitization generate cash-flow for the loan originator (i.e., us), it also allows the originator to sell off some of the riskier assets in its portfolio in a way that still provides a reliable return for investors. Both of those benefits put Credibly on even stronger financial footing as a provider of capital.

Why was it the right time for Credibly to securitize some of its loan assets?

In short, because we were ready for it.   

“For many years, Credibly had a large warehouse line from [SunTrust Bank], during which time both our company’s performance and the performance of its assets exceeded expectations,” Credibly founder and co-CEO Ryan Rosett said in a recent interview with Benzinga. “So, from an asset performance perspective, we knew we were ready. As did our bank, which was the [underwriter] of our securitization.”

“The number of companies in our space who have had successful securitizations can be counted on one hand,” Rosett continued. “We wanted—and needed—to be one of those select companies so that we could lower our cost of capital to be able to compete even more aggressively. Additionally, the securitization has the ability to be increased to support our anticipated growth.”

That growth includes the rollout of two new lending products that will allow us to serve an entirely new segment of business owners.

How does Credibly’s securitization affect small business borrowers?

Fueled by the new revenue stream and the ability to have greater control over the health of our balance sheet, Credibly’s securitization will be used to roll out a new Market Expansion Product, which will allow us to fund merchants with FICO scores as low as 500 and businesses that have been operating for fewer than six months.

“We believe the MXP will open up the funnel by allowing us to serve business owners that we previously couldn’t,” Rosett told deBanked last month.

In addition, Credibly plans to launch a line of credit product in 2019. “Offering a line of credit has been a goal of ours for years,” Rosett said. “We’re excited to offer business owners a flexible credit product that will provide our customers with quick working capital exactly when they need it.”

Credibly’s securitization is a financial milestone that will further secure our position as a market leader in the alternative lending space, and advances our vision of providing the most flexible funding options to the widest range of borrowers at the most affordable price. And if you’ve been turned down for business loans in the past due to a low credit score or short time in business, stay tuned…

Credibly Builds on Momentum: Recognized for Fastest Merchant Cash Advance Services

Credibly tailors funding solutions to small and medium-sized business, and has provided more than $460 million in capital since 2010. By leveraging data science and analytics to improve the speed, cost, and choice of capital available to SMBs, the company is establishing itself as a go-to option for funding.

On top of being recognized as one of Inc. 5000’s fastest-growing U.S. businesses the past three years, Credibly has been applauded for its services as both a private lender and business consultant.

Fit Small Business, an online newspaper focused on small business owner’s needs, applauded Credibly for its ability to advise and serve a variety of businesses. Just a few months after being honored as one of the best blogs for small business, Credibly was nominated as one of the Best Merchant Cash Advance providers for 2017.

What is a Merchant Cash Advance?

A merchant cash advance (MCA) provides businesses with a lump sum cash advance in return for a specific amount of money. Companies remit a percentage of daily credit/debit receivables until the amount is paid back in full. Because of this, there is no fixed satisfaction or end maturity date, and the access to funding is much quicker.

Cash advance services are an ideal funding option for companies that need smaller amounts of capital immediately. While it may be slightly more expensive than a traditional bank loan, you’re exchanging price for convenience, speed, and flexibility.

Benefits of a Merchant Cash Advance

Unlike a traditional bank loan, cash advance services are fast. Companies are able to apply for and acquire funding in as little as 48 hours.

This quicker access to funding stems from the application process. Because a merchant cash advance typically does not show up on your credit report, it’s easier to obtain with a lesser credit score. In general, MCA’s are an attractive funding option for people who are trying to build or protect their credit.

However, beauty goes beyond securing capital. Merchant cash advances have a unique benefit in their flexible satisfaction period. For cyclical and seasonal businesses, loans with a fixed repayment term may be overly harsh during slow weeks.

Cash advance payments are remitted as a portion of daily sales, so companies experience less of a burden when business is slow. Cash advances are often the best funding option for companies that experience less-frequent, higher-margin sales, as borrowers can pay back the majority of the advance when business flourishes.

Credibly Named Fastest Merchant Cash Advance Provider

Fit Small Business reviewed the most popular merchant cash advance providers (RapidAdvance, Credibly, and Fora Financial) due to their eligibility and overall cost. Ultimately, they recognized Credibly as the merchant cash advance provider with the fastest time to funding and highlighted their ability to help a wide variety of businesses and industries.

NEW YORK, NY and BURTONSVILLE, MD, January 5, 2017 – Credibly, an emerging financial technology and lending platform, and data and payment processing leader iControl Data Solutions (iControl), announced today that they have entered into a partnership to offer financing and working capital solutions to small and medium-sized businesses (SMBs).

Credibly is a best-in-class FinTech platform that leverages data science and analytics to improve the speed, cost, and choice of capital available to SMBs throughout the United States. Since 2010, Credibly has provided more than 9,000 businesses with access to over $385 million in funding, and has earned a spot on the Inc. 5000 list of fastest-growing U.S. businesses for the past three years.

Credibly is dedicated to creating a superior borrowing experience that meets the needs of all small to medium sized businesses, regardless of product need or credit profile. The company is co-headquartered in Michigan and New York, with additional offices in Arizona and Massachusetts. For more information about Credibly, visit www.credibly.com.

In order to meet a wide range of small business capital needs, Credibly offers two classes of financing products that can be funded in as little as 48 hours. Through this partnership, Credibly will offer both current and future iControl clients with:

Working Capital Loans: Featuring repayment terms from 6-17 months and automatic daily payments, these short-term loans are fast, simple, and flexible. Credibly’s Working Capital Loans are perfect for healthy businesses with steady revenue, and can be used for virtually any business-related expense or opportunity.

Business Expansion Loans: These large-scale funding products feature longer terms of 18 to 24 months, loan sizes up to $250,000, and highly competitive interest rates as low as 9.99%. Credibly’s Business Expansion Loans are designed for well-established companies, offering investment capital to take thriving businesses to new heights

“At Credibly, we believe that small businesses deserve access to right-sized capital, and our partnership with iControl makes good on our mission to help as many entrepreneurs as possible,” said Evan Rabinowitz, Vice President of Business Development at Credibly. “We’re excited to partner with iControl, and support their customers and distribution partners with access to more affordable capital for small businesses.”

“We are really excited to announce our new partnership with Credibly,” said iControl’s Chairman and Co-CEO Tal J. Zlotnitsky. “We have many clients that are SMBs looking for new ways to fund the growth of their business or to just improve the day-to-day working capital of their business. I’m proud that through our new partnership with Credibly, iControl will now offer even more resources to our valued clients.”

About iControl:

iControl is a leading provider of financial transaction facilitation and collaborative business intelligence solutions geared primarily to the food, drug and convenience value chain. We make it easier for trade partners to conduct business more efficiently and promote fact-based, timely, data-driven decisions that boost sales, reduce waste, promote efficiency, reward transparency, and align performance metrics.  We process and remit funds for over 5.4 million invoices annually, while providing real-time visibility to inventory and sales data from over 30,000 retail outlets in all 50 states, to both retailers and our network of over 3,000 distributors and manufacturers. The iControl Regulated Commerce Solution, available in all 50 states, is the choice of forward-thinking retailers and distributors within the alcohol industry who are seeking economical EFT payments and greater collaboration around data and analytics.  For more information about iControl, visit www.icontroldata.net.

Nearly 60 businesses will be honored May 5^th during National Small Business Week; honorees
recognized for role in growing Michigan’s economy and creating jobs

MICHIGAN – Small business owners and supporters are coming from all across the state to show their support for Michigan’s growing companies on Thursday, May 5th at the Twelfth Annual Michigan Celebrates Small Business awards dinner.

“Michigan Celebrates Small Business embodies Michigan’s entrepreneurial spirit,” says Jennifer Deamud – Associate State Director of the Michigan Small Business Development Center. “The program shines an important spotlight on the success of Michigan’s small business community. The awardees being honored have played a significant role in growing Michigan’s economy and creating jobs.”

Michigan Celebrates Small Business (MCSB) is the state’s premier awards program celebrating small business excellence. Over 60 businesses, including the 2016 Michigan 50 Companies to Watch, will be honored during the awards dinner. Awardees, guests, and small business supporters will gather for a cocktail reception, keynote speaker, and the awards dinner, which will be held at the Lansing Center in Lansing, MI.

The awards program will occur during National Small Business Week, May 1-7, drawing extra attention to Michigan’s role in stimulating the national and global economy.

The following companies will be honored at Michigan Celebrates Small Business:

• Main Street USA Award: Mrs. Glee’s Foods, LLC – Hillman
• Innovation Award: ContentOro – Ann Arbor
• Government Contracting Award: Central Lake Armor Express, Inc. DBA Armor Express – Central Lake, MI
• Michigan Small Business SCORE Counselor of the Year: Allen Wilson – Muskegon
• Michigan Small Business SBDC Consultant of the Year: Denise Hansen – Escanaba
• Michigan Small Business Exporter of the Year & Regional Winner: Firstronic LLC – Grand Rapids
• Michigan Women Owned Small Business of the Year: Motawi Tileworks – Ann Arbor
• Michigan Veteran Owned Small Business of the Year: Contract Professionals, Inc. – Waterford
• Michigan Small Business Person of the Year: RB Construction Company – Sterling Heights

The following companies will receive the Michigan 50 Companies to Watch Award:

• Advaita Corporation – Plymouth
• Abcor Partners LLC – Holland
• Afia Inc. – Ann Arbor
• Millendo (previously Atterocor, Inc.) – Ann Arbor
• Avomeen Analytical Services – Ann Arbor
• Banza LLC – Detroit
• BizStream, Inc. – Allendale
• Bromberg & Associates, LLC – Hamtramck
• Cash n Carry Flooring LLC – Traverse City
• Celsee Diagnostics – Plymouth
• Johnstone Supply Detroit – Orion
• Clarity Communication Advisors – Southfield
• Coastal Automotive LLC – Rochester Hills
• Code Blue Corporation – Holland
• com, Inc. – Brighton
• Credibly – Troy
• Energy Design Service Systems, LLC – Whitmore Lake
• Firebolt Group Inc. – Wixom
• foodjunky, Inc. – Detroit
• Goldfish Swim School Franchising, LLC – Birmingham
• Hayhoe Asphalt Paving LLC – Holt
• Image Data Conversion, LLC – Saline
• Inmatech, Inc. – Ann Arbor
• Innereactive Media, LLC – Grand Rapids
• IP Consulting Inc. – Kentwood
• ITC, Incorporated – Holland
• JMC Electrical Contractor, LLC – Clinton Township
• Local Orbit, Inc. – Ann Arbor
• Recruitment Management Consultants, LLC – East Lansing
• MMI Engineered Solutions, Inc. – Saline
• Modustri LLC – Grand Rapids
• Mopec, Inc. – Oak Park
• Mount Bohemia – Lac La Belle
• Neuvokas Corporation – Ahmeek
• Parjana® Distributions, LLC – Detroit
• Public Lumber Company – Detroit
• McCardel Restoration – East Lansing
• Red Level Networks, LLC – Novi
• com, Inc. – Midland
• RightBrain Networks – Ann Arbor
• Service First Logistics Incorporated – Auburn Hills
• Smart Bottoms Inc. – Ada
• STEWART Industries LLC – Battle Creek
• Stormcloud Brewing Company – Frankfort
• The Service Professor, Inc. – Grand Rapids
• Tome, Inc. – Royal Oak
• Truscott Rossman Group, LLC – Lansing
• Verdeterre Contracting, Inc. – Canton
• Web Ascender – Okemos
• ZeroBase Energy LLC – Ferndale

“Having seen almost 500 percent growth in the past year, Smart Bottoms is honored and excited to be recognized as a 2016 Michigan 50 Company to Watch,” commented Christy Malone, President of Smart Bottoms Inc. “We are grateful for the support the State of Michigan provides to its small businesses as we all work together to create more jobs and opportunities within the state.”

Tickets are available for $135 per person or attendees can reserve a table of eight for $900. Tickets can be purchased online at www.MichiganCelebrates.biz or by calling (800) 362-5461.

Michigan Celebrates Small Business is a partnership of the Michigan Small Business Development Center (Michigan SBDC), Michigan Economic Development Corporation, the Edward Lowe Foundation, Small Business Association of Michigan, the U.S. Small Business Administration and Chris Holman.

The Michigan SBDC is the managing partner of Michigan Celebrates Small Business in 2016. In the twelve year history of Michigan Celebrates, the Michigan SBDC was the managing partner ten of those years.

Michigan Celebrates Small Business is made possible with the generous support of PNC Bank, the Michigan Economic Development Corporation, DTE Energy, Accident Fund, Clark Hill, Rehmann, Varnum Law, Michigan Credit Union League, Consumers Energy, and Dynamic Edge, Inc.

For more information regarding Michigan Celebrates Small Business contact Jennifer Deamud, Executive Director of Michigan Celebrates at the Michigan Small Business Development Center – deamudj@gvsu.edu or (616) 331-7482.

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Term Loan Aimed at Prime Borrowers Seeking Growth Capital

NEW YORK — March 16, 2016 — On the heels of an industry leading $70 million credit facility led by SunTrust Bank, Credibly, a fintech and data-driven online lending platform, announces access to its first extended-term loan offering. Coined a Business Expansion Loan, the product features rates ranging from 9.99% to 36%, terms of 18 and 24 months, and multiple payment options.

“With the launch of the Business Expansion Loan, Credibly can address the funding needs of U.S. small business owners across a broad credit spectrum and various life cycle stages,” said Glenn Goldman, CEO of Credibly. “This is unique and differentiated compared to other lenders who only serve one limited segment and cannot support the small business throughout its life. The Business Expansion Loan further empowers our partners, who also serve small businesses, to satisfy the needs of all their customers, with a simple and intuitive user experience, in a single relationship with Credibly.”

The Credibly Business Expansion Loan can be approved and accessed within 24 hours, in amounts ranging from $10,000 to $250,000. The loan addresses the financing needs of small businesses in operation for six months or more, whose needs extend beyond short-term working capital to include longer-term growth capital.

“True to our financing approach of on-balance sheet, whole loan sales and securitization, we’ve partnered with SunTrust Bank and AloStar Bank of Commerce to secure one of the lowest costs of capital in the industry,” continued Goldman. “This empowers us to continue improving our product suite and serve as a consultative partner delivering access to right-sized capital to small businesses across a broad spectrum of credit profiles in the U.S.”

An online lending platform that delivers access to a broad range of short- and long-term capital to satisfy the SMB credit spectrum, Credibly has provided access to over $250 million in funding for more than 6,000 businesses in over 300 industries. In the past year, the company has increased revenue more than 100%, was recognized by Crain’s as one of the 50 fastest growing companies in New York, and made its second consecutive appearance on the Inc. 500 list of the fastest growing private companies in America.

About Credibly
Founded in 2010 and with offices in Michigan, Arizona, Massachusetts, and New York, Credibly is a best-in-class Fintech platform that leverages data science and analytics to improve the speed, cost, and choice of capital available to small businesses in the United States. Credibly’s platform is engineered to deliver its value proposition to small business customers directly, as well as through partners, who are similarly focused on delivering a best in-class user experience for their own small business customers. Certain products may not be available in all states.Certain business loan products are made available through Retail Capital LLC, a licensed California Finance Lender. Learn more at www.credibly.com.

Media Inquiries:
Ben Goldstein
bgoldstein@credibly.com

Credibly, a tech and data-inspired lending platform that makes access to capital for small businesses simple and intuitive, announces the closing of a $70 million credit facility with SunTrust Bank, one of the nation’s largest financial services firms, and AloStar Bank of Commerce, a specialty provider of asset-based loans. SunTrust served as the structuring and administrative agent, committing $50 million, with AloStar coming in as the first participant with a $20 million commitment. The terms of the deal allow for flexibility to increase the committed amount by another $30 million, bringing the total facility potential to $100 million.

An online lending platform that delivers a broad range of short- and long-term capital to satisfy the entire SMB credit spectrum, Credibly has provided access to capital for more than 4,500 businesses in over 300 industries. In the past year, the company has increased revenue 100%, was recognized by Crain’s as one of the 50 fastest growing companies in New York, and made its second consecutive appearance on the Inc. 500 list of the fastest growing private companies in America.

The new credit facility is consistent with Credibly’s three-prong financing strategy: on-balance sheet, whole loan sales, and securitization. The facility more than doubles Credibly’s on-balance sheet funding capacity, accelerating their ability to provide more small businesses with access to affordable capital, regardless of credit profile or life cycle stage.

“Being vetted and validated by a bank partner of SunTrust’s stature is one of our greatest milestones to date, and provides us with one of the lowest costs of capital in the industry,” said Glenn Goldman, CEO of Credibly. “The continued participation from AloStar – our first credit facility lender going back to 2014 – gives us increased flexibility in our product suite, which in turn provides better terms for borrowers and helps us execute on our core philosophy that all small businesses deserve access to right-sized capital.”

“SunTrust is pleased to work with Credibly to assist them in achieving their mission to fuel American entrepreneurship through access to capital,” said Tarun Mehta, Group Head, Financial Institutions Investment Banking at SunTrust Robinson Humphrey.

“The new SunTrust facility is a validation of the strength of the platform and team that Credibly has built. We remain extremely excited about our partnership with Glenn and his team,” said Steve Begleiter, Managing Director at Flexpoint Ford, LLC, a private equity firm that added Credibly to its portfolio in 2014.

About Credibly

Founded in 2010 and with offices in Michigan, Arizona, Massachusetts, and New York, Credibly is a best-in-class Fintech platform that leverages data science and analytics to improve the speed, cost, and choice of capital available to small businesses in the United States. Credibly is dedicated to creating a superior borrowing experience that meets the needs of all small businesses, regardless of product need or credit profile. All loans obtained through Credibly are made by WebBank, a Utah-chartered industrial bank and member of the FDIC. Learn more at www.credibly.com.

About SunTrust Banks, Inc.

SunTrust Banks, Inc., one of the nation’s largest financial services organizations, is dedicated to Lighting the Way to Financial Well-Being for its clients and communities. Headquartered in Atlanta, the company serves a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2015, SunTrust had total assets of $187 billion and total deposits of $146 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. Learn more at www.suntrust.com.

About AloStar Bank of Commerce

AloStar Bank of Commerce, with $900 million in assets, is a specialty lender with extensive experience in providing Asset Based Loans to middle market companies. In addition, the bank provides value for depositors, small-to-medium-sized companies and community banks across the country through on-line customer service, and unique lending products and services. Learn more at www.alostarbank.com.

(Photo via Crain’s Detroit)

Last month, Credibly Founder/Chief Revenue Officer Ryan Rosett was part of the “Race to Deliver: Strategies for Success in Payments” panel at Lend360 in Atlanta, where he discussed payment innovations in the online lending industry. We caught up with Ryan afterward to get his thoughts on the topic.

CREDIBLY.COM: Have you seen consumer attitudes towards online payments change over the years, compared to when you founded Retail Capital in 2010?

RYAN ROSETT: There’s a lot more acceptance, and I think the acceptance continues to grow. As the younger generation begins to start their own small businesses, they’re going to look more to the Internet for a frictionless way to access capital. But we haven’t reached a point where everything in our business is done online; there’s still some conversation involved. There’s a relationship and an experience that has a human touch to it. That’s important because a business loan is probably the second biggest loan that a business owner has outstanding, next to a mortgage.

How is Credibly helping to drive payment innovations in the lending space?

I feel like we’re very much at the cutting edge from a speed standpoint; we’re moving much, much faster than banks, for instance. And from a technology standpoint, we’re using so many different data feeds that are giving us real-time views into our small business customers’ bank accounts, which is giving us extremely rich data on the ebbs and flows of certain businesses.

Of course, “payment” is a big word. It encompasses credit cards, Bitcoin, cash, things like Apple Pay, and all these other mechanisms now available. Credibly still focuses on cash flow and the availability of cash flow in order to size up and analyze a small business, so that we can provide access to money prudently. The goal is to create a user experience and interface that’s seamless and elegant, where our customers can walk away and say, “Wow, that was easy.”

What do you make of payment providers like Square, PayPal, and Intuit moving into the small business lending space? Do you view it as a threat or is there long-term benefit from these companies getting involved?

I think it’s a benefit because it creates more awareness, which is one of our biggest marketing roadblocks. The margins in the credit card processing industry are diminishing — they call it a “race to zero” — and everybody’s trying to undercut everybody else. Square and some of these other payments companies are looking for different ways to get yield, but by doing that, it’s creating more opportunity. The increase in awareness will allow consumers to shop around and look for who has the best product set.

Was the topic of cybersecurity brought up at the “Race to Deliver” panel?

No, it wasn’t. Having the best security from a technology standpoint is certainly important, though I don’t think it’s a driving force for small businesses when they’re looking at accessing capital. Keep in mind, we don’t take our customers’ bank account information — we have third parties that handle anything that accesses their accounts — so we’re not really entrusted with any confidential information that would make us vulnerable to an access or breach of their accounts.

Do you have any predictions for the future of payment technology?

There’s a lot of conversation right now about the “rail system” of ACHs. There’s a credit rail and a debit rail, and consumers can access capital more quickly depending on which rail system they use; a credit effectively takes place immediately, while a debit doesn’t settle until the next business day. So if an ACH has the ability to act like a credit instead of a debit, it could give you almost instantaneous money, similar to a wire but even faster. Theoretically, a small business could get access to capital in seconds.

My feeling is that one- or two-day access to capital is fast enough. If you’re running a small business, you should have the ability to manage for two days to access capital, and if you don’t or can’t, there might be more problems with your small business than just your ability to access capital. If a small business is in need of working capital in seconds, that’s a little scary.

Alliance To Fuel Local Economic Growth

TROY, MI—November 10, 2015–Today, Credibly, a best-in-class Fintech platform that provides access to a broad range of tailored capital solutions to satisfy the entire SMB credit spectrum, announced a partnership with the Small Business Association of Michigan (SBAM), the only statewide association to focus solely on serving the needs of Michigan’s small business community.

The partnership provides the Association’s 25,000+ members with streamlined access to Credibly’s unique funding options via the SBAM Pulse platform, which provides small business owners with financial analysis and reporting tools comparable to those offered by a professional consultant. The Pulse platform is powered by BodeTree, also a Credibly partner.

“Credibly has always had strong ties to the Michigan community, and our partnership with SBAM further solidifies our commitment to provide access to capital for businesses right in our own backyard,” said Ryan Rosett, co-founder and Chief Revenue Officer of Credibly. “As both a member of SBAM – and now a partner – we couldn’t be more excited for the continued opportunity to offer access to funding that is crucial to fueling Michigan’s small businesses.”

Since its founding in 2010, Credibly has provided access to over $9 million of funding to Michigan-based businesses and over $200 million nationwide. In 2014, Credibly was named the fastest-growing company in the state of Michigan by Inc. Magazine. The company has also experienced significant growth, doubling revenue in the last year, and adding 40 jobs – for a total of 90 full-time employees – to its Troy office since January.

“It’s great to have another customer-service oriented, Michigan-based financing platform participating in our Pulse service,” said Rob Fowler, President and CEO of SBAM. “Like our small business members, Credibly is nimble. We appreciate that they provide a convenient, frictionless process that gives borrowers timely access to capital, which is crucial when you are on a fast track pursuing entrepreneurial opportunities.”

The Small Business Association of Michigan, located in Lansing, has served local businesses in all of Michigan’s 83 counties for over fifty years. The organization’s mission is to help Michigan small business owners succeed by promoting entrepreneurship, leveraging buying power and engaging in political advocacy in a variety of industries.

For more information on SBAM, visit www.sbam.org. Learn more about the Credibly Partner Program at credibly.com/partner.

About Credibly

Credibly is a best-in-class Fintech platform that leverages data science and analytics to improve the speed, cost, and choice of capital available to all small businesses. Founded in 2010, with offices in Michigan, New York, Arizona, and Massachusetts, Credibly is dedicated to creating a superior lending experience that meets the needs of all small businesses, regardless of product need or credit profile. To learn more, visit www.credibly.com.

About SBAM

The Small Business Association of Michigan is the only statewide and state-based association that focuses solely on serving the needs of Michigan’s small business community. Located in Lansing, it has served small businesses in the state since 1969. SBAM’s mission is to help Michigan small business owners succeed by promoting entrepreneurship, leveraging buying power and engaging in political advocacy. Its 25,000+ members, located in all 83 counties of the state, are as diverse as Michigan’s economy, ranging from accountants to appliance stores, manufacturers to medical, and restaurants to retailers. To learn more, visit www.sbam.org.

Media & Partnership Inquiries:
Jeffrey Bumbales, 248.633.1232
Director, Marketing
jbumbales@credibly.com

Today, Credibly, an emerging Fintech platform that provides a wide range of capital solutions to satisfy the entire credit spectrum of small and medium-sized businesses, ranked No.21 on Crain’s New York Business “2015 Fast 50” list. This marks Credibly’s first appearance on the Fast 50, which recognizes New York City’s fastest-growing and most innovative companies.

“We’re extremely honored to be recognized by Crain’s New York Business as a ‘Fast 50’ company,” said Credibly CEO Glenn Goldman. “This milestone validates our team’s hard work and commitment to fueling small and medium-sized business growth in the U.S. with tailored capital solutions.”

To date, Credibly has provided nearly $200 million in funding to more than 4,500 businesses in over 300 industries. In the last year alone, the company has grown its revenue 100%, opened offices in three states, and doubled the number of its employees to 120.

Marketplace lending has made extraordinary progress in democratizing access to capital and delivering a solid and growing value proposition to borrowers. The next frontier, and arguably the most critical, is the allocation of capital and the development of a truly efficient and transparent marketplace for the loans marketplace lenders/Platforms originate.

In an efficient and transparent marketplace, pricing will reflect the quality of underwriting (distinguishing amongst Platforms), and risk and capital will be truly aligned.

Read more at Orchardplatform.com