Credibly vs OnDeck — who wins for what.

Frequently asked questions

How does Credibly's BK underwriting compare to OnDeck's in practice?

Credibly's BK underwriting is structurally more flexible than OnDeck's as of 2026-06-28. The realistic comparison: Credibly accepts discharged Chapter 7 BK 4+ years post-discharge plus Chapter 13 with completed plan + 2+ years post-discharge at surcharge pricing factor 1.28 – 1.40. OnDeck typically requires Chapter 7 BK 5 – 7 years post-discharge and Chapter 13 with completed plan + 3 – 5 years post-discharge depending on product (term loan vs LOC). The 1 – 3 year window between Credibly's acceptance threshold and OnDeck's is the structural pricing premium for merchants in mid-seasoning. The structural reasoning: Credibly's MCA structure has 4 – 9 month exposure window with daily ACH visibility, allowing earlier post-BK acceptance. OnDeck's term loan amortizes over 12 – 36 months and LOC commitment extends 12 – 24 months, requiring deeper credit history visibility for the multi-year commitment. The merchant-prep implication for post-BK merchants: (1) Credibly is structurally primary in this 2-way for capital access during years 4 – 5 post-discharge; (2) OnDeck becomes structurally primary at year 5 – 7 post-discharge depending on product; (3) The 5+ year post-BK capital strategy: use Credibly MCA during years 4 – 5 post-discharge, refinance to OnDeck term loan once 5+ year seasoning completes for material cost reduction, then evaluate Bluevine LOC at 7+ year seasoning for further cost reduction. For broker books supporting merchants through post-BK capital migration, structured guidance on each seasoning period's funder options provides material value-add vs transaction-by-transaction MCA cycling.

What's the post-BK pricing trajectory across Credibly, OnDeck, and Bluevine?

The post-BK pricing trajectory follows the seasoning period structurally as of 2026-06-28. The realistic pricing breakdown by seasoning window: (1) Years 0 – 4 post-discharge — no mainstream MCA/LOC funder approval available; realistic alternatives are deep distressed paper specialists (Pearl Capital, Yellowstone Capital, World Business Lenders) at factor 1.40 – 1.55 effective APR 70 – 100%+. Focus during this period should be credit rebuilding rather than capital access. (2) Years 4 – 5 post-discharge — Credibly MCA at surcharge pricing factor 1.28 – 1.38 effective APR 45 – 70%. Structurally the primary funder option in the 2-way against OnDeck which typically declines at this seasoning level. (3) Years 5 – 7 post-discharge — OnDeck term loan at surcharge pricing APR 35 – 48% becomes available for files with clean post-BK credit rebuilding history. Credibly MCA remains an option but OnDeck is structurally cheaper for the same file. Material cost reduction migrating from Credibly to OnDeck at this seasoning threshold. (4) Years 7+ post-discharge — Bluevine LOC at surcharge pricing APR 18 – 27% becomes available for files with established post-BK credit. Material further cost reduction vs OnDeck term loan. (5) Years 10+ post-discharge — BK falls off credit report; pricing converges to standard A-paper rates if other credit profile elements are clean. For broker books supporting post-BK merchants through the capital cost migration, the structured staging by seasoning period provides material value vs assuming all post-BK files require the same funder approach. The realistic pricing reduction trajectory: $50K capital cost over 5 years declines from approximately $35K interest (Credibly MCA cycling) to $20K interest (OnDeck term) to $10K interest (Bluevine LOC) as the seasoning periods complete. The structural takeaway: post-BK capital access starts expensive and gets meaningfully cheaper as seasoning completes; planning the migration path is structurally important for managing long-term capital cost.

Which is right for a service business with Chapter 7 discharge 4.5 years ago and 640 FICO?

Credibly is structurally the only option in this 2-way for this file as of 2026-06-28. The 4.5-year post-discharge Chapter 7 status falls below OnDeck's typical 5 – 7 year requirement, structurally ruling out OnDeck in this 2-way. Credibly's underwriting accepts the file at the 4+ year post-discharge threshold; the 640 FICO suggests reasonable post-BK credit rebuilding. Expected Credibly pricing: factor 1.28 – 1.36 for $30K – $75K MCA over 6 – 9 month payback term, reflecting BK-flagged credit surcharge but otherwise B-paper profile. Effective APR roughly 50 – 70%. The realistic service business playbook: (1) Route to Credibly as structural primary in this 2-way; provide documentation of post-BK credit accounts showing 2+ years clean payment history. (2) Evaluate Forward Financing in parallel as B-paper alternative with reconciliation policy. (3) Evaluate Accord Business Funding for broadest B/C-paper acceptance. (4) Plan the 6-month wait for OnDeck eligibility — if capital need can wait 6 months until full 5-year post-discharge seasoning completes, OnDeck term loan at APR 35 – 45% becomes available and materially beats continued Credibly MCA cycling on cost. (5) Plan the longer-term migration to Bluevine LOC: full 7-year post-discharge seasoning completes in 2.5 years; Bluevine LOC at 18 – 27% APR becomes available, providing further material cost reduction. (6) Continue building business and personal credit profile during all migration windows — FICO push toward 680+ unlocks better pricing tiers at each funder; D&B Paydex and Experian Business credit profile building supports better business credit access independent of personal credit. The structural rule for the 4 – 5 year post-discharge window: Credibly MCA is the realistic primary option; the 6-month wait to OnDeck eligibility followed by 2-year wait to Bluevine eligibility represents the structural pricing migration path for the file.