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Rate On 5-Year Loans
Starting at 9.49%
Funding amount
Up to $500,000
Term
Up to 5 years
Min. credit score
650
Time to funding
As soon as 3 days
Credibility Capital offers term loans to established businesses with an easy online application process and fast funding times that can be deposited within just a few days. Loan terms last up to 5 years and are repaid with fixed monthly payments. So it’s easy to budget and you don’t have to worry about frequent daily or weekly payments.
On the downside, their minimum loan amount is $50,000. If your business is looking for a smaller amount of capital, you’ll need to look elsewhere. But if you do need a sizable injection of funding, check out our Credibility Capital review to find out if it could be a good fit for your business.
A small business term loan gives you access to a one-time lump sum. Credibility Capital reviews both your personal credit score and business health (including revenue) to determine how much you can borrow. Repayment terms last up to 5 years, and your business will make fixed payments every month.
Established companies with solid annual revenue can access fast funding with a business term loan from Credibility Capital. Repayment terms are borrower-friendly and funding fees are in line with most other lenders. Plus, the minimum credit score is flexible, and you can apply to borrow as much as $500,000 for your small business.
Expect a fast funding time when you apply for a business term loan with Credibility Capital. Approved borrowers can get money deposited in the bank within 3 days of initially filling out the application.
The online form is easy to complete. If approved, you’ll quickly receive a loan offer so you can review the terms. If you’re happy with the offer, you’re ready to sign the loan agreement and the funds will be on their way. From start to finish, the entire loan funding process takes only a few days. That’s comparable to other online business lenders and much faster than traditional small business loans and SBA loans.
Loans from Credibility Capital go as high as $500,000, which can give a lot of financial flexibility to businesses needing a lump sum of cash. Interestingly, the minimum loan amount is above average at $50,000. So this lender isn’t a realistic option for lower-revenue companies looking for a small amount of working capital. But it could be a good fit if you’re looking for a larger chunk of cash to meet your business goals.
Credibility Capital charges an annual interest rate, which can start as low as 9.49% APR on a 5-year loan. Additionally, you’ll pay a one-time origination fee when your loan closes. This ranges from 3% to 5% of the loan amount and is deducted directly from the loan funds. On a $50,000 loan, you could end up paying as much as $2,500 for your origination fee.
On the other hand, there’s no prepayment penalty for paying off your balance in full early, nor is there a maintenance fee for term loans.
You’ll find relatively average borrower requirements when looking for a term loan from Credibility Capital. The minimum credit score is 650, which isn’t terribly strict, especially when you consider that the average score in the U.S. is 698. Lenders that have even less stringent requirements likely make up for it with higher interest rates.
Loans from Credibility Capital aren’t made for low-revenue startups—in fact, you’ll need to be in business for at least 2 years with annual revenue of $200,000 or more. Also, expect to sign a personal guarantee in order to qualify for a loan with Credibility Capital. However, this is no business collateral required, as with real estate or equipment.
Credibility Capital offers business-friendly repayment terms with fixed monthly payments. You can easily plan for your loan amount, rather than constantly having your payments tied to your daily or weekly revenue. Many business lenders withdraw a percentage of sales to repay the loan. With fixed monthly payments, though, you know exactly when the loan will be paid off without having to worry about your profit margins each season.
While some of the best small business loans average a 4.5 star rating, Credibility Capital reviews top that with 4.9 stars on TrustPilot. 94% of customers give the company an excellent rating. Most reviews mention attentive service and an easy application process.
Considering Credibility Capital for your next business loan? Apply through Lendio to compare offers from multiple lenders.
*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page (October 19, 2022). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.
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