Company Research Report: Credibly
Company Overview
- Name: Credibly
- Mission: Credibly believes in small and medium-sized businesses and the people who make them grow. They leverage cutting-edge data science, technology, partner relations, and customer support to provide business owners with accelerated access to right-sized capital solutions.
- Founded: 2010
- Founders: No specific founder is mentioned in the available data.
- Key People: Ryan Rosett (Founder & Co-CEO), Nathan Wray (Chief Technology Officer), Joshua Creem (General Counsel).
- Headquarters: Southfield, Michigan, USA
- Number of Employees: 51-200 employees
- Revenue: No information is available.
- Known For: Credibly is known for providing fast and flexible financing solutions for small and medium-sized businesses. It offers a suite of financing products to accommodate various stages of business development or credit profiles.
Products
- Working Capital Loan
- Description: Direct lender of working capital loans to cover short-term working capital expenses such as operating costs.
- Key Features:
- Loan amounts from $5,000 to $600,000
- Requires daily or weekly repayment
- Term lengths: 6 to 24 months
- Factor rates starting at 1.11
- Merchant Cash Advance
- Description: Provides quick access to cash based on future sales.
- Key Features:
- Fast funding
- Lenient credit requirements
- Ideal for businesses with poor credit scores
- Business Line of Credit
- Description: Offers flexible funding that can be drawn upon as needed.
- Key Features:
- Access up to $600,000
- Flexible repayment options
- Long-Term Business Loans
- Description: For business expansions and larger capital needs.
- Key Features:
- Loan amounts up to $10 million
- Longer terms for repayment
- Equipment Loans
- Description: Financing for purchasing business equipment.
- Key Features: Tailored for the credit profile of different businesses
- SBA Loans
- Description: Loans backed by the Small Business Administration for more secure and potentially lower interest rates.
- Key Features: Available for businesses with a solid credit history
Recent Developments
- New Products Launched:
- Credibly Business Checking® with no monthly maintenance fees, designed to support business growth.
- New Features Added:
- Credibly Revolutionizes Underwriting Process with GenAI to improve speed and accuracy.
- Introduction of a New Online Checkout Experience for a streamlined application and approval process.
- Partnerships:
- Partnership with Green Dot on Small Business Banking to enhance customer options.
- Awards:
- Credibly recognized as the Best Overall Business Lending Company by Fintech Breakthrough Awards.
- Featured in numerous "best of" lists by Forbes in terms of loans for bad credit and fast cash solutions.
This report provides an in-depth review of Credibly based on available data. For any missing information, further specific inquiries or data sources are necessary.
