The specs
CrediblyBeacon Funding
Product typeMulti-productTerm
Amount range$5K – $600K$5K – $500K (equipment); $250K+ on documented collateralized deals
Cost (factor / APR)Factor 1.11+ (MCA); APR varies (term)APR 8% – 30% depending on file grade and equipment class
Speed to fundAs fast as 4 hoursSame-day app-only sub-$150K; 3 – 7 days documented deals
Min time in business6 months0 months
Min monthly revenue$15,000Not strictly required — underwrites on equipment + experience
Min credit score550+600+
Products
- MCA
- Working capital LOC
- Short-term term loan
- Equipment financing
- Equipment leasing
- Working capital (limited add-on)
Verdicts by use case
- Working capital for general business uses — Winner: Credibly. Credibly is a working capital-first funder with API V2 + Cloudsquare infrastructure. Beacon is equipment-finance only — no general working capital product. For non-equipment uses, Credibly is the only realistic option in this pair.
- Equipment financing, especially trucking or tow — Winner: Beacon Funding. Beacon is an equipment-finance specialist since 1990 with deep trucking, tow-truck, and vocational vertical expertise. Credibly has no dedicated equipment product. For known equipment purchases, Beacon is materially cheaper on APR and structure.
- Start-up (0 – 6 months TIB) — Winner: Beacon Funding. Beacon accepts start-ups (0 TIB) when applicant has industry experience plus strong personal credit and collateralized equipment. Credibly requires 6+ months TIB. True start-ups are Beacon-only in this pair.
- Fastest cash-in-account — Winner: Credibly. Credibly funds in as fast as 4 hours on clean working capital files. Beacon's same-day funding applies to app-only equipment under $150K; documented deals land 3 – 7 days. For pure speed on cash, Credibly wins.
- Vertical specialization in transportation, vending, or embroidery — Winner: Beacon Funding. Beacon has named vertical programs in transportation (trucks, tows), vending, and embroidery with specialist underwriters. Credibly is vertical-agnostic. Vendors in these specific niches favor Beacon for both pricing and underwriting comfort.
The honest takeaway
Credibly and Beacon Funding solve overlapping but distinct problems. The right choice depends on three things you already know about your business: how fast you need the money, how long you've been operating, and whether the capital need is one-time or recurring.
Frequently asked questions
- I'm starting a tow company with no business history but 15 years industry experience and 720 FICO — which?
- Beacon. Their start-up program is built for exactly this profile — industry experience plus strong personal credit plus the tow truck itself as collateral. Expect APR in the 12 – 22% range on a 36 – 60 month term. Credibly's 6-month TIB floor declines a true start-up. Once Beacon funds the equipment and you have 6 months of revenue, Credibly becomes available for working capital — natural sequence.
- I run a trucking business at $35K/mo and need $80K for a new tractor and $40K working capital — split or single?
- Split. Beacon for the tractor at 10 – 16% APR collateralized by the truck title (cheap, asset-secured). Credibly for the $40K working capital at MCA factor rates (general purpose, deploys anywhere). Trying to bundle both at one funder typically means worse pricing on at least one piece — match the product to the use case and use two funders.
- Beacon accepts start-ups with 0 TIB — what's the actual catch?
- Three structural requirements: (1) personal credit needs to be strong (typically 680+ for start-ups, harder than Credibly's 550+ for established cash-flow files); (2) industry experience is documented and underwritten — first-time operators in unfamiliar verticals get declined; (3) the equipment itself is the primary collateral — Beacon's loan is secured against the asset, and on default they repossess. Different risk model than Credibly's unsecured working capital — easier on TIB, harder on personal credit and asset specificity.