| Loan Amount | $5,000 - $250,000 |
| APR (Fixed APR) | N/A |
| Minimum Months in Business | 6 |
| Minimum Revenue | $180,000 |
Credibly Invoice Factoring Review
Credibly Invoice Factoring is offered by Credibly, a direct lender founded in 2010 and based in Troy, MI. Credibly Invoice Factoring is available in 48 states (and Washington, DC).
What APRs does Credibly Invoice Factoring offer?
The cost of accounts receivable financing is typically calculated as a percentage of the invoice value, which is charged monthly. Pricing varies widely depending on several factors, such as how long you it takes to repay the invoice advance.
Does Credibly Invoice Factoring charge an origination fee?
Yes, Credibly Invoice Factoring charges a origination fee starting at 2.5% of the total amount advanced. Credibly Invoice Factoring deducts the fee directly from your merchant cash advance amount before disbursing merchant cash advance proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
How much cash can you get from Credibly Invoice Factoring?
Credibly Invoice Factoring advances 95% of the total account receivables amounts, with cash amounts start at $5,000 and go up to $250,000.
What type of invoice collection structure does Credibly Invoice Factoring offers?
Credibly collects payment for invoices directly from clients.What types of invoices does Credibly accept?
Credibly Invoice Factoring accepts the following invoice type when applying for accounts receivable financing.
- Business-to-business invoices (B2B).
What trade credit terms does Credibly accept?
Credibly accepts the following trade credit term. Trade credit terms are usually expressed as Net D, where D stands for the numbers days after which payment of the invoice is expected.
- Net 30 days.
What is the estimated funding time?
Credibly Invoice Factoring can approve (or deny) an application within 24 hours and fund within 1 business day of approval.
What are the business financing requirements for Credibly Invoice Factoring?
To apply for Credibly Invoice Factoring, the borrower needs to provide the following business document:
- Business license
- Business bank account
What limitations does Credibly Invoice Factoring set on the purpose of the loan?
Credibly Invoice Factoring considers accounts receivable financing applications for business purposes, such as:
- Product or service expansion
- Working capital
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Washington
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| Origination Fee (%) | Starting at 2.5% |
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