The specs
CrediblyFunding Circle
Product typeMulti-productTerm
Amount range$5K – $600K$25K – $500K
Cost (factor / APR)Factor 1.11+ (MCA); APR varies (term)APR 7.49 – 24.99% (fixed-rate, fully-amortizing term loans)
Speed to fundAs fast as 4 hoursFunding in 48 hours to 1 week after approval
Min time in business6 months24 months
Min monthly revenue$15,000$50,000+/yr business revenue (~$4,000/mo floor)
Min credit score550+660+
Products
- MCA
- Working capital LOC
- Short-term term loan
- Fixed-rate business term loans (3 – 7 years)
- SBA 7(a) loans via partner banks
Verdicts by use case
- Cheapest cost of capital if you qualify — Winner: Funding Circle. Funding Circle's fixed-APR term loans (7.49 – 24.99%) crush a Credibly MCA at 1.20 – 1.40 factor on total cost. For A-paper borrowers who can clear the 660+ FICO and 24+ months TIB bar, this is not close.
- Need cash this week — Winner: Credibly. Credibly funds in as fast as 4 hours; first-deal funding typically lands within 24 hours. Funding Circle takes 48 hours to a full week — bank-style underwriting.
- Newer business (6 – 24 months operating) — Winner: Credibly. Credibly's 6-month TIB floor is reachable. Funding Circle requires 24+ months without exception — sub-2-year merchants are auto-declined.
- No prepayment penalty / predictable amortization — Winner: Funding Circle. Funding Circle is a fixed-rate, fully-amortizing term loan with no prepayment penalty. A Credibly MCA has no APR concept and the factor is owed in full regardless of early payoff timing.
- Larger deal size ($500K+) — Winner: Credibly. Credibly underwrites up to $600K MCA. Funding Circle caps conventional term loans at $500K. Credibly edges on the headline cap, though both rarely fund at the top end.
The honest takeaway
Credibly and Funding Circle 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
- Why is Funding Circle's APR so much lower than a Credibly MCA's APR-equivalent?
- Different products with different risk profiles. Funding Circle underwrites bank-style against 24+ months of financials and a 660+ FICO — that lower risk lets them price in single-digit to mid-20s APR. Credibly's MCA accepts 6-month-old businesses with 550+ credit; that risk gets priced into a 1.20 – 1.40 factor, which is 40 – 100% APR-equivalent on a 12-month hold.
- I'm a 1-year-old restaurant at $30K/mo — which one?
- Credibly. Funding Circle's 24-month TIB floor declines you outright. Worth applying again at month 25 if you've kept clean financials — Funding Circle will be materially cheaper if approved.
- Does Funding Circle still do SBA loans?
- Yes — they offer SBA 7(a) loans via partner banks alongside their conventional term loans. SBA timelines are 30 – 60 days but rates are even lower than their conventional product. Worth asking which path your file qualifies for.