
Credibly Business Lines of Credit
Not enough votes for recommendation
Explore a similar product
Try this top product in Business Lines of Credit.
APR (Fixed APR) | Starting at 4.8% |
Credit Score Range | 560 - 850 |
Loan Amount | $5,000 - $250,000 |
Credibly Business Lines of Credit Review
Credibly Business Lines of Credit is offered by Credibly, a direct lender founded in 2010 and based in Troy, MI. Credibly Business Lines of Credit are available in 48 states (and Washington, DC).
Credibly Business Lines of Credit FAQ
What APRs does Credibly Business Lines of Credit offer?
Credibly Business Lines of Credit offers a fixed APR product that starts at 4.8% APR.
Does Credibly Business Lines of Credit charge an origination fee?
Yes, Credibly Business Lines of Credit charges an origination fee starting at 2.5% of the line of credit amount. Credibly Business Lines of Credit deducts the fee directly from your line of credit amount before disbursing the fund, so make sure you take this fee into account when deciding how much you need to borrow.
What limitations does Credibly Business Lines of Credit set on the purpose of the line of credit?
Credibly Business Lines of Credit considers line of credit applications for business purposes, such as:
- Equipment Purchase
- Inventory
- Payroll
- Product or Service Expansion
- Working capital
Does Credibly Business Lines of Credit charge prepayment fees?
Yes, Credibly Business Lines of Credit charges additional fees to borrowers who pay off their lines of credit sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a line of credit early.How much can you borrow from Credibly Business Lines of Credit?
Line of credit amounts start at $5,000 and go up to $250,000.
What is the maximum term you can get with Credibly Business Lines of Credit?
Credibly Business Lines of Credit offers business lines of credit with terms ranging from 3 to 24 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.
What do you need to qualify for Credibly Business Lines of Credit?
Applicants with a credit score of at least 560 and up to 850 may be eligible for Credibly Business Lines of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.Credibly Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Credibly Business Lines of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Credibly Business Lines of Credit.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Recent bank statements
- Business formation documents
- Proof of identity
What is the estimated funding time for the Credibly Business Lines of Credit?
Credibly Business Lines of Credit can approve (or deny) a line of credit application within 24 hours and fund business lines of credit within 2 business days of approval.
What are the business financing requirements for Credibly Business Lines of Credit?
To apply for Credibly Business Lines of Credit, the applicant needs to provide the following documentation:
- Business license
- Business bank account
Does Credibly Business Lines of Credit report your account activity to credit bureaus?
Yes, Credibly Business Lines of Credit reports your account activity to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
What types of business lines of credit does Credibly offer?
Credibly offers both secured and unsecured lines of credit. Secured lines of credit are typically secured by a blanket lien on your assets or a certificate of deposit.
Message From Credibly Business Lines of Credit
Contact
- Headquarters
-
1250 Kirts Blvd Ste 100
Troy, MI 48084 - (248) 633-1200
- Visit Site
- Email Support
Other Services by Credibly
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- 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
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
Origination Fee (%) | Starting at 2.5% |
Be the first to rate
Would you recommend Credibly Business Lines of Credit to your friends?
- Balboa Capital Business Lines of Credit
- Century Bank of Massachusetts Lines of Credit
- Chase Business Lines of Credit
- Consumers Credit Union Business Lines of Credit
- Fast Business Financial Lines of Credit
- Fundbox Business Lines of Credit
- InterNex Capital Velocity LOC
- Kabbage Small Business Lines of Credit
- Kalamata Capital Lines of Credit
- Kiva Business Lines of Credit
- National Business Capital Business Line of Credit
- PNC Business Lines of Credit