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
- Established business needing $100K+ at lowest APR (660+ FICO, 24+ months TIB) — Winner: Funding Circle. Funding Circle's fixed-APR term loans (7.49 – 24.99% APR, 3 – 7 year amortization, no prepayment penalty) materially undercut any MCA factor on cost. For genuinely A-paper merchants — 660+ FICO, 2+ years TIB, $50K+/yr revenue — Funding Circle is one of the cheapest non-bank term products on the market. On a $250K, 5-year amortization the total cost differential vs Credibly's MCA can exceed $80K.
- Merchant needs capital this week — Winner: Credibly. Credibly funds in as fast as 4 hours via API V2 + Cloudsquare on approved files. Funding Circle's underwriting takes 48 hours to 1 week — closer to bank-style diligence than online-lender speed. For emergency capital Funding Circle is structurally the wrong product.
- Sub-660 FICO or sub-24-month TIB merchant — Winner: Credibly. Funding Circle's 660+ FICO and 24+ months TIB floors decline most B/C-paper merchants and any business under two years old. Credibly's 550+ FICO and 6+ months TIB floor is much wider — for the majority of MCA-cascade files Credibly is in the consideration set where Funding Circle isn't.
- Predictable monthly cash flow over a 3 – 7 year horizon — Winner: Funding Circle. Funding Circle's fully-amortizing fixed-rate structure with monthly payments matches the cash-flow profile of an established business planning multi-year capital deployment. Credibly's MCA daily/weekly ACH debits and 6 – 18 month payback aren't structured for multi-year horizon planning.
- SBA 7(a) pathway alongside conventional term — Winner: Funding Circle. Funding Circle now offers SBA 7(a) loans via partner banks alongside its conventional marketplace term products. For merchants who qualify for SBA pricing (Prime + spread, currently 11 – 13% APR), the SBA 7(a) is the cheapest non-bank capital available. Credibly does not originate SBA paper.
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
- Should I apply to Funding Circle first if I'm A-paper?
- Yes, if you meet their floors (660+ FICO, 24+ months TIB, $50K+/yr revenue) and you can wait 48 hours to a week for underwriting. Funding Circle's fixed APR (7.49 – 24.99%) on a 3 – 7 year amortization undercuts any MCA factor by a large margin — on a $100K, 5-year amortization the cost differential vs a 1.30 MCA factor can exceed $40K. The catch is the underwriting bar: most MCA-cascade files don't clear Funding Circle's diligence. Apply to Funding Circle first; if declined, drop into the MCA cascade starting with Credibly.
- Does Funding Circle still operate in the US after their 2025 strategic update?
- Yes. Funding Circle continues to originate US small-business term loans through its US platform and partner banks; the strategic updates in recent years narrowed product focus and expanded the SBA 7(a) partnership pathway but did not exit the US market. Always confirm current US origination status on FundingCircle.com before applying, since marketplace lender business models are subject to capital-availability cycles.
- What's the realistic underwriting timeline for a Funding Circle term loan vs Credibly's MCA?
- Funding Circle: 48 hours to 1 week for approval and fund disbursement on a clean application — bank-grade documentation (tax returns, business financial statements, debt schedule, P&L). Credibly: under 4 hours on approved files via API V2 + Cloudsquare for MCA, slightly longer for term and LOC products with bank statements alone. If timing matters and you're A-paper, apply to both in parallel — accept whichever quotes cleanest pricing within your decision window.