Founded in 2013, this New York-based company understands the challenges with obtaining funding, even for borrowers with strong balance sheets and good credit histories. They aim to address this issue by matching your business with the right institutional investors who can fund your loans.
Consider Credibility Capital if you:
- Need affordable funding to grow your business
- Have strong credit, but don’t qualify for traditional financing options
- Need business loans with longer payback periods
Credibility Capital Business Loans
Credibility Capital provides bank-funded loans, which are loans funded by federal or state-chartered banks. This allows them to offer some of the lowest loan rates in the small business lending industry, with APRs starting at 8%.
You can get up to $350,000 in funding with monthly fixed payments over 1-3 years. Credibility Capital term loans are fully amortizing, which means you will pay back a portion of the principal along with a portion of the interest each month. So by the end of the set term, your loan will be paid off fully.
Credibility Capital business loans have a one-time origination fee of 3-5% depending on your loan amount. There are no application fees, maintenance fees or prepayment penalties.
The medium-term business loans from Credibility Capital may be perfect for you if you have strong personal credit and have been in business for 2 or more years.
- Fully amortizing, medium-term loans from 1-3 years
- Loan amounts ranging from $25,000-$350,000
- Annual interest rates starting at 8%
- Transparent loan terms with no additional charges except a one-time origination fee
The Credibility Capital Lending Experience
To provide funding to growing small businesses, Credibility Capital works with institutional investors such as banks, family offices, hedge funds and insurance companies.
Their application process is pretty straightforward. You just need to check your eligibility on their website and then submit an online application, which takes about 5 minutes to complete. Once approved, you can get the funds within 24-hours of providing your bank routing information.
While their loans do not require any real property as collateral, they do need to be backed by a personal guarantee from the business owner. To evaluate your application, Credibility Capital will consider several factors such as your personal credit history and business performance.
They only perform a soft pull on your personal credit to assess your rates, so applying does not affect your credit score. However, a hard pull will occur when you close on the loan. If you do get approved, the company spells out your interest rates and APRs for you. This kind of transparency helps ensure that you don’t get hit with any unexpected charges.
If you don’t qualify for their term loans, Credibility Capital connects you with their network of trusted partners. These partners are thoroughly vetted and may offer loan products that are suited for your business profile.
Credibility Capital Pros
- They have a fast online application process, which takes just 5 minutes to complete.
- They provide longer lending terms than many small business lenders, with payback periods spanning 1-3 years.
- Interest rates for Credibility Capital business loans are in the lower range, with annual rates starting at 8%.
- Their loans are fully amortizing, and repayment is required monthly.
- There is some flexibility in their underwriting terms, with no hard cutoffs on business metrics. For instance, they don’t have minimum annual revenue requirements, so a healthy credit score may compensate for lower annual revenues.
- Their fees are transparent, with no additional charges except for your interest rate and one-time origination fee.
Credibility Capital Cons
- Credibility Capital does not work with businesses located in Nevada, North Dakota, South Dakota or Vermont.
- Their funding sizes are limited, ranging from $25,000-$350,000. You may want to look for alternatives if you need access to smaller or larger amounts outside of this range.
- While Credibility Capital doesn’t have an official minimum credit score requirement, they typically look for borrowers with strong personal credit. It may not be the ideal option for borrowers with a credit score below 650.
- The funding process takes a bit longer than that of many small business lenders. The entire process, from applying to underwriting to funding, can be completed in a minimum of 3 days.
Credibility Capital Business Loan Requirements
- Time in Business 2+ years
- Personal Credit Score A strong personal credit score
- Annual Revenue Currently generating revenue
- Judgements No bankruptcies (personal or commercial) in the past 5 years
What You Need to Apply
- Bank statements from the past 6 months or tax returns for the past 2 years
- Additional document requirements vary for each individual and industry
Final Say: Credibility Capital Business Loans Reviews
Most customers report that Credibility Capital provides exceptional service. The company has a 4.9 TrustScore on TrustPilot and an A+ rating on BBB. Credibility Capital is a reliable lender if you have a strong credit history and you need affordable term loans with more extended payback periods.