What businesses need to know about factor rates
Have you ever considered an alternative way to acquire assets for your business without the hefty upfront costs? Enter lease financing.
30,000+ small- and medium-sized businesses financed… and counting
Right-sized capital
Borrowing more than enough capital can often be just as stressful as not having enough. We’ll help you get a small business loan that’s right for you.
Grow, don’t owe
Take the stress out of growing your business with continuous working capital support.
The Credibly difference
Get guidance and capital through a simple, transparent, and seamless process to get the funding you need.
Hire more staff
Hiring is one of the hardest parts of owning your business. A working capital loan for small businesses makes it easier to hire the staff you need.
Scale up your marketing campaigns
Let us help with the right small business loans so you can maximize marketing potential by investing in local ads, digital advertising, and strategic partnerships.
Business specific needs
The challenges you face are unique to you. We’re here to listen and ensure that you always have enough cash flow to seize an opportunity as it arises.
Lower credit? Not a problem
Merchant cash advances are perfect for businesses with fluctuating revenue and lower credit scores.
You can use these funds to buy inventory, pay employees, make emergency repairs, pay for marketing expenses, purchase equipment, and finance other short-term expansion projects.
Open a new location
Enjoy lower APRs and longer payback periods—perfect for making down payments for a new location.
New equipment
Unlike traditional banks that make finding financing options difficult, we’ll provide you with reasonable interest rates.
Make renovations
Don’t get bogged down in red tape, get lower interest loans that let you make the repairs and updates you need.
Capital when you need it
Get the most flexible access to working capital anytime you need it with revolving business lines of credit.
Draw only what you need
Withdraw exactly as much as you need, and don’t let your business get saddled with a loan you won’t utilize.
Pay for what you use
You’ll only pay interest on the amount you withdraw, which means the cost of capital is usually less than other types of funding.
Click the “Get Started” button, enter some basic business information, and pre-qualify for loans for your small business.
Once approved, a loan advisor will reach out to you with the options you qualify for and help you choose the best business loan or financing product for your situation.
Funds are deposited directly into your bank account so you can use your funding immediately.
Provides you with up-front funding in exchange for a portion of future receivables.
This small business financing option allows you to pay for your machine over the life of the lease with low APRs.
Have money tied up in unpaid invoices? Instead of waiting on net terms, turn them into working capital with invoice factoring.
Get lower interest rates and longer repayment periods. We’ll guide you through the application for a small business loan.
Credibly | Bank Loans | Credit Cards | SBA Loans | |
|---|---|---|---|---|
Funding Range | $5K-$400K | $100K | Credit dependent | Credit dependent |
Process | Pre-qualify online Soft credit pull only | Long application, credit inspection, business plan, and industry risk | Prequalify online Soft credit pull only | Long application, credit inspection, business plan, and industry risk |
Approval Time | Less than 4 hours | Weeks-Months | Less than 30 Days | Months |
Time to Funding | Same day from approval | 2-3 Months | 7-10 Business days | 60-90+ Days |
Approval Criterias | Overall business health | Credit score and collateral | Credit score | Credit score and collateral |
Credibly is a direct lender of working capital loans and merchant cash advances. Through our partners, we offer SBA loans, business lines of credit, equipment financing, long-term loans, and invoice factoring.
Our loan specialists can help you:
The eligibility requirements for Credibly’s small business loans and financing are loan-specific and based on a business owner’s specific credit history and creditworthiness.
Generally, you need to have:
Specific requirements will vary.
Some funding products like merchant cash advances and invoice factoring are less credit dependent because these financing products are based on sales instead of a credit report.
Similarly, equipment financing does not have as much emphasis on credit because the equipment can be used as collateral if you default on your loan. Many of our financing solutions can help you build business credit as well.
Startups almost never qualify for traditional bank loans, and that is true for Credibly’s business loans and financing as well.
However, there are a lot of options in small business loans for new businesses and startups, including:
“Flexible” means that you can use the capital to fund whatever your business needs.
Some business loans are flexible in their loan usage options, such as a working capital loan, business expansion loan, merchant cash advance, business line of credit, or SBA loan.
However, some loan and financing options are not flexible. Equipment financing can only be used to purchase or lease equipment. Any type of real estate loan will also be specific to funding a physical business location.
Before asking “how to apply for a small business loan?” you should first consider whether the capital will help your business grow or help your business survive a crisis.
If you don’t have a good reason for a business loan, the fees and interest can really add up.
However, if a business loan will help you buy new equipment, hire needed staff, or survive a crisis like the COVID-19 pandemic, then you should consider each of the following questions when reviewing the loan.
Have you ever considered an alternative way to acquire assets for your business without the hefty upfront costs? Enter lease financing.
You’re ready to take the next big step for your business
Have you ever considered an alternative way to acquire assets for your business without the hefty upfront costs? Enter lease financing.
*Some products are made available through Credibly’s network of external funding partners
**Factor rates are included in your daily estimate to simplify remittances and account monitoring. Best factor rates available to merchants with excellent credit and financial strength. Rates, pricing, requirements, and other terms and conditions are subject to change without notice.