The specs
CrediblyOnDeck
Product typeMulti-productMulti-product
Amount range$5K – $600K$5K – $400K (term); $6K – $200K (LOC)
Cost (factor / APR)Factor 1.11+ (MCA); APR varies (term)Term APR 27%+; LOC APR 30%+
Speed to fundAs fast as 4 hoursSame-day for approved files
Min time in business6 months12 months
Min monthly revenue$15,000$8,000
Min credit score550+600+
Products
- MCA
- Working capital LOC
- Short-term term loan
- Term loan
- LOC
Verdicts by use case
- Independent restaurant at $25K/mo card sales with 8 months TIB — Winner: Credibly. Credibly's 6-month TIB minimum and $15K/mo revenue floor accept this file; OnDeck's 12-month TIB requirement structurally declines anything under one year of operating history. For sub-12-month independent restaurants Credibly is the structural fit; OnDeck won't open the file.
- Multi-location restaurant group seeking $400K growth capital — Winner: Tie. Both Credibly ($5K – $600K MCA) and OnDeck ($5K – $400K term) can fund $400K. As of 2026-06-28 Credibly's MCA factor on clean restaurant A-paper (1.18 – 1.26) and OnDeck term APR (27 – 45% on this size) often land within 5 – 8 percentage points effective APR — for a multi-location group with 24+ months TIB and 680+ FICO either is structurally viable; pick OnDeck for fully-amortizing term structure with known payoff date, Credibly for faster funding and renewal flexibility.
- Restaurant emergency repair — fund this week — Winner: Credibly. Credibly funds in as fast as 4 hours via the API V2 + Cloudsquare flow (March 2026 launch). OnDeck markets same-day funding for approved files but documentation review typically pushes restaurant deals to next-business-day or longer when health-department permits and lease documentation are pulled. For restaurant equipment failures (walk-in cooler, exhaust hood, POS) Credibly is the structural same-week option.
- Seasonal restaurant managing summer-to-winter cash flow — Winner: OnDeck. OnDeck's LOC ($6K – $200K, APR 30%+) is structurally better for seasonal cash flow management than Credibly's MCA lump-sum structure — draw against the line during slow months, pay down during peak season. Credibly does offer a working capital LOC product but the underwriting bar and pricing typically lands above OnDeck's LOC for seasonal-restaurant use cases. For waterfront / ski-town / tourism-dependent restaurants OnDeck LOC is the structural fit.
- Restaurant with 580 FICO owner and recent NSFs — Winner: Credibly. Credibly accepts 550+ FICO. OnDeck's 600+ floor declines this file. For credit-recovering restaurant owners Credibly is structurally the only option in this pair.
The honest takeaway
Credibly and OnDeck 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 run an independent pizzeria doing $30K/mo at 14 months TIB with 620 FICO — Credibly or OnDeck?
- Both can fund this file; the structural choice depends on cash flow predictability. OnDeck term loan at this paper grade likely lands at APR 32 – 45% on a $40K – $80K loan with daily ACH and a defined 6 – 18 month payoff. Credibly MCA likely lands at factor 1.22 – 1.30 (effective APR 38 – 60%) on a similar size advance with daily ACH and revenue-aligned payoff (typically 9 – 14 months). For pizzeria operators who want a known payoff date and slightly cheaper headline pricing, OnDeck wins; for operators who want renewal flexibility and don't want to be locked into a fixed amortization schedule, Credibly wins. As of 2026-06-28 the realistic playbook: apply to both in parallel via your ISO, compare actual offers on your specific file, take whichever comes back materially cheaper on effective APR. Avoid stacking — pick one and pay it down before taking a second.
- Toast Capital is offering me $40K at factor 1.18 — should I take it instead of Credibly or OnDeck?
- Yes if you're committed to Toast POS long-term; verify the offered factor against Credibly and OnDeck on your specific file first. Toast Capital factor 1.18 on $40K equals $7,200 in fees vs typical Credibly factor 1.22 – 1.26 ($8,800 – $10,400 in fees) and OnDeck term APR 32 – 45% ($4,000 – $6,000 in interest on 12-month amortization). The headline math favors OnDeck if you qualify (12+ months TIB, 600+ FICO, $8K+/mo revenue), then Toast Capital, then Credibly in that order. The structural catch: Toast Capital ties repayment to Toast POS processing — switching processors triggers immediate payoff. For restaurants committed to Toast take the Toast offer at factor 1.18 (genuinely competitive); for restaurants evaluating POS alternatives in the next 12 – 24 months OnDeck term loan offers processor-portability that Toast Capital doesn't. Square Capital is structurally the same trade as Toast Capital for Square-processing restaurants — embedded UX, processor-tied repayment.
- My restaurant got declined by OnDeck — does that mean Credibly will decline too?
- Not necessarily — the underwriting boxes overlap but aren't identical. OnDeck declines most commonly come from: sub-12-month TIB (Credibly accepts 6+), sub-600 FICO (Credibly accepts 550+), or sub-$8K/mo revenue (Credibly requires $15K+/mo so this one cuts the other way). If OnDeck declined on TIB or FICO Credibly is structurally likely to approve. If OnDeck declined on revenue (under $8K/mo) Credibly will also decline. Beyond pure box criteria OnDeck weights cash flow stability (Plaid-pulled bank statements showing consistent deposits) more heavily than Credibly does — if your bank statements show irregular deposit patterns or recent NSFs OnDeck declines; Credibly's 550+ FICO floor accepts files with NSFs more readily. The realistic playbook: if OnDeck declined and you have 6+ months TIB plus $15K+/mo revenue plus 550+ FICO, apply to Credibly. If you're below all three bars look at Greenbox Capital or Accord Business Funding which underwrite deeper B/C-paper than either Credibly or OnDeck.