Credibly vs OnDeck — who wins for what.

Frequently asked questions

How do Credibly and OnDeck underwrite law firms as of 2026-06-30?

Credibly and OnDeck underwrite law firms with materially different posture as of 2026-06-30. Credibly accepts law firms at B-paper or A-paper pricing at 550+ FICO floor and $15K/mo revenue floor accommodating solo and small-firm files. OnDeck accepts law firms at 625+ FICO floor with both term loan and LOC products; OnDeck term loan structure (12 – 24 month amortization at APR 28 – 48%) offers cleaner predictable payment vs Credibly MCA factor structure for borrowers preferring fixed-term loan amortization. The realistic law firm Credibly vs OnDeck framework: (1) B-paper law firm files (FICO 550 – 624) route to Credibly structurally — OnDeck declines on credit profile; (2) A-paper law firms preferring term loan structure for major capital deployment evaluate OnDeck; (3) A-paper law firms preferring MCA structure or needing higher capital amount evaluate Credibly; (4) Specialty litigation finance (Esquire Bank, Counsel Financial, Advocate Capital, Law Finance Group, Apex Legal Funding) structurally primary for contingency-fee case-cost advance; (5) Specialty law firm banking (Esquire Bank, City National Bank legal vertical, Bank of America practice solutions) for relationship-priced lending at 7 – 11% APR for qualifying firms; (6) SBA 7(a) for law firm acquisition, partner buyout, or major capital deployment at 11 – 14% APR. Law firm industry-specific considerations: trust account (IOLTA) vs operating account separation and bar-mandated compliance; contingency fee revenue volatility and case-duration cycle; case-cost advance and disbursement cycle; expert witness deposit and deposition cost cycle; partner draw vs salary compensation structure; malpractice insurance and bar dues; bar association ethical rules constraints on financing structures.

What capital structure makes sense for a 7-year personal injury firm doing $100K/mo with 685 FICO partner credit needing $200K for office buildout?

SBA 7(a) and specialty law firm banking are structurally primary for this office buildout file as of 2026-06-30 with OnDeck term loan as parallel structural option. The realistic law firm office buildout capital playbook: (1) Route to SBA 7(a) Small Loan as structural primary — file qualifies cleanly for SBA 7(a) (685 FICO above SBA standard 640 minimum, 7 years TIB, $100K/mo). Expected SBA 7(a) offer: $200K – $500K at 11 – 13% APR over 7 – 10 year term for office buildout (lease deposit and tenant improvement, office furniture, technology infrastructure, signage, working capital reserve through ramp). Materially cheaper than alternative financing. SBA timing 60 – 120 days. (2) Evaluate specialty law firm banking as parallel — Esquire Bank, City National Bank legal vertical, Bank of America practice solutions for relationship-priced lending at 7 – 11% APR for qualifying firms; SBA-backed structures may apply. Materially cheaper than OnDeck term loan but slower timing. (3) Evaluate OnDeck term loan as parallel — 685 FICO above OnDeck's 625 floor; expected OnDeck term loan offer: $150K – $400K term loan at APR 28 – 45% over 12 – 24 month term. Term loan structure beneficial for buildout ROI with longer payback than MCA but materially more expensive than SBA 7(a) or specialty law firm banking. (4) Credibly MCA as backup capital for fastest buildout timing — expected offer: $150K – $300K MCA at factor 1.18 – 1.28; 4-hour funding if buildout deadline imminent. (5) Office buildout considerations — law firm office buildout typically requires lease deposit and tenant improvement ($30K – $80K), office furniture and conference room equipment ($30K – $100K), technology infrastructure including legal research platforms and document management ($30K – $80K), signage and brand investment ($10K – $40K), working capital reserve through ramp ($30K – $80K). (6) Long-term capital strategy — pursue SBA 7(a) for major capital deployments at materially cheaper cost than MCA or term loan; build specialty law firm banking relationship for ongoing capital infrastructure; pursue litigation finance for contingency-fee case-cost infrastructure; evaluate firm succession planning for partner perpetuation transactions.

Which is right for a 4-year solo criminal defense firm doing $35K/mo with 620 FICO needing $40K for case-cost advance on three active matters?

Credibly is structurally primary for this file as of 2026-06-30 because 620 FICO falls below OnDeck's 625 floor — OnDeck declines structurally on credit profile. The realistic solo criminal defense firm capital playbook: (1) Route to Credibly as structural primary — file qualifies for Credibly's box (620 FICO above 550 floor, 48 months TIB above 6-month minimum, $35K/mo revenue above $15K floor). Expected Credibly MCA offer: $30K – $50K MCA at factor 1.24 – 1.34 for 6 – 9 month payback reflecting law firm B-paper risk profile. Effective APR roughly 45 – 65%. (2) Evaluate Forward Financing and Greenbox Capital as parallel B-paper alternatives. (3) SBA Microloan for sub-$50K capital needs through nonprofit intermediary lenders at 8 – 13% APR with technical assistance support. (4) Criminal defense flat-fee revenue model considerations — criminal defense practice typically operates on flat-fee per matter (typical $5K – $25K per misdemeanor matter, $15K – $50K per felony matter, $50K – $250K+ per serious felony or federal matter) generating predictable revenue per matter with full payment upfront for most matters; trust account discipline critical (most criminal defense retainers flow through trust until earned by milestone); minimizes case-cost advance need vs contingency-fee plaintiff practice. (5) Case-cost advance considerations — criminal defense case-cost (expert witness deposits, investigator fees, deposition costs, transcript costs, court costs) typically modest vs contingency-fee plaintiff practice; flat-fee revenue model often covers case costs from upfront retainer; advance financing primarily needed for cash flow management between retainer collection and case work cycle. (6) Long-term capital strategy — at 625+ FICO graduate to OnDeck term loan or Bluevine LOC for revolving working capital; pursue specialty law firm banking (Esquire Bank) for relationship-priced lending; pursue SBA 7(a) for major capital deployments; consider partner addition or firm expansion if revenue and matter volume supports. The realistic recommendation: route to Credibly MCA or SBA Microloan if timing fits; improve retainer discipline for cash flow management; evaluate Forward Financing and Greenbox in parallel; plan FICO migration for future OnDeck, Bluevine, or specialty law firm banking graduation.