Last Updated: 04/18/2025
Credibly Merchant Cash Advance
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in Merchant Cash Advance from Credibly
Last Updated: 04/18/2025
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Highlights
Factor Rate
Starting at 1.15
Amount Range
Up to $400,000
Minimum Revenue
$180,000
APR (Fee-Based Product)
Starting at 15%(Verified 06/21/2024)
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Credibly Merchant Cash Advance Review
Credibly Merchant Cash Advance is offered by Credibly, a direct lender founded in 2010 and based in Troy, MI. Credibly Merchant Cash Advance are available in 48 states and Washington, DC.
Credibly Merchant Cash Advance FAQ
What APRs does Credibly Merchant Cash Advance offer?
The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Credibly offers merchant cash advance with a factor rate starting from 1.15 . The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.25 will have a total repayment of $25,000, which includes $5,000 in fees.
that ranges from 15% APR. Does Credibly Merchant Cash Advance charge prepayment fees?
Yes, Credibly Merchant Cash Advance charges additional fees to borrowers who pay off their Credibly Merchant Cash Advance 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 Credibly Merchant Cash Advance early.What types of repayment method does Credibly Merchant Cash Advance accept?
Credibly Merchant Cash Advance accepts the following repayment method from the Merchant:
- Split withholding
- ACH withholding
How often does Credibly Merchant Cash Advance process payments?
Credibly Merchant Cash Advance processes payments daily based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to Credibly Merchant Cash Advance as payment for your cash advance until the full amount is paid.
Does Credibly Merchant Cash Advance charge an origination fee?
Yes, Credibly Merchant Cash Advance charges a origination fee starting at 2.5% of the total amount advanced . Credibly Merchant Cash Advance 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.
What is the minimum repayment amount required by Credibly Merchant Cash Advance?
There is no minimum repayment amount.
What is the estimated funding time for a merchant cash advance via Credibly Merchant Cash Advance?
Credibly Merchant Cash Advance can fund your merchant cash advance within 2 business days of approval.
What are the business financing requirements for Credibly Merchant Cash Advance?
To apply for Credibly Merchant Cash Advance, you need to provide the following business documentation:
- Business license
- Business bank account
What do you need to qualify for Credibly Merchant Cash Advance?
Applicants with a credit score of at least 500 and up to 850 may be eligible for Credibly Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Credibly Merchant Cash Advance does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Credibly Merchant Cash Advance.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Bank account information
- Business formation documents
- Proof of identity
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed