Credibly vs OnDeck — who wins for what.

Frequently asked questions

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

Credibly's tax lien underwriting is structurally more flexible than OnDeck's as of 2026-06-28. The realistic comparison: Credibly accepts active IRS or state tax liens under $25K with documented installment agreement + 3+ months of clean payment history + otherwise clean current credit profile, at surcharge pricing typical factor 1.28 – 1.38. OnDeck declines active tax liens for term loan and LOC products because both products' multi-year commitment structure conflicts with active tax lien exposure during the loan or line lifetime. The structural reasoning: Credibly's MCA structure has a defined 4 – 9 month exposure window with daily ACH visibility, making tax lien underwriting tractable on a case-by-case basis. OnDeck's term loan amortizes over 12 – 36 months and LOC commitment extends 12 – 24 months before line review, creating multi-year exposure to potential lien escalation that OnDeck's underwriting position declines structurally. The merchant-prep implication for tax-lien-flagged files: (1) Credibly is structurally primary in this 2-way for immediate capital access during active lien period; (2) OnDeck becomes structurally primary once the lien is fully resolved + 12 – 18 months post-release seasoning, because OnDeck's term loan or LOC pricing then materially beats Credibly MCA on cost; (3) The realistic 18 – 36 month capital strategy: take a sized Credibly MCA during the lien resolution period (factor 1.30 – 1.38 typical), pay clean while resolving the lien, refinance to OnDeck term loan at APR 27 – 35% once lien is released and seasoned, then evaluate Bluevine LOC if FICO migrates above 660+ for the cheapest long-term pricing trajectory. For broker books with multiple tax-lien-flagged files in the pipeline, Credibly is the structural primary funder option in this 2-way; OnDeck wins on long-term value for files that complete the lien resolution path.

What's the realistic Credibly pricing for a tax-lien-flagged file vs OnDeck declining the same file?

Credibly pricing for tax-lien-flagged files typically lands at factor 1.28 – 1.42 depending on lien size, payment plan status, and overall paper grade as of 2026-06-28. The realistic pricing breakdown: (1) Small active IRS lien under $10K with installment agreement + clean current credit (660+ FICO, $25K+/mo revenue, no NSF) typically prices at factor 1.25 – 1.32 — minimal surcharge over standard A-paper pricing because the small lien size and clean current profile suggest a transitional issue rather than ongoing cash management problems. (2) Mid active IRS or state lien $10K – $25K with installment agreement typically prices at factor 1.30 – 1.38 — meaningful surcharge reflecting the larger lien size and exposure risk. (3) Active lien $25K – $40K with installment agreement on borderline acceptance typically prices at factor 1.36 – 1.42 — significant surcharge reflecting the elevated risk grade. (4) Released lien within last 12 months at near-standard pricing factor 1.20 – 1.28. For OnDeck declining the same files the merchant's realistic alternatives in the broader funder market: (1) Forward Financing — B-paper specialist with reconciliation policy and lien tolerance; pricing typically factor 1.30 – 1.40 for lien-flagged files. (2) Accord Business Funding — broad B/C-paper acceptance including most tax lien files; pricing typically factor 1.32 – 1.45 for lien-flagged files. (3) Pearl Capital — deep distressed paper specialist accepting larger active liens; pricing typically factor 1.38 – 1.48 for lien-flagged files. (4) Yellowstone Capital — 3rd-position distressed specialist with broad lien tolerance; pricing typically factor 1.42 – 1.55. The structural pricing rule: tax-lien-flagged files pay material pricing surcharge across all MCA funders that accept them; the structural advantage of Credibly is the mid-tier pricing (factor 1.28 – 1.42) at a mid-tier acceptance threshold (small to mid active lien with payment plan). Files outside Credibly's box need deeper B/C-paper specialists with higher pricing; files inside Credibly's box typically get better pricing at Credibly than at the deeper specialists.

Which is right for a 3-year HVAC business with $15K released state tax lien (paid 8 months ago) and 650 FICO?

OnDeck term loan is becoming the structural primary option for this file as of 2026-06-28 with some timing caveats. The released lien situation (paid 8 months ago) puts the file in a transitional zone — Credibly will accept at near-standard pricing now; OnDeck will likely accept at standard pricing once 12 – 18 months post-release seasoning is complete (next 4 – 10 months). The realistic decision matrix: (1) If capital need is immediate (within next 30 – 60 days) → Credibly is the structural primary option in this 2-way. Expected Credibly pricing: factor 1.22 – 1.28 for $40K – $80K MCA over 6 – 9 month payback term, reflecting the recent-release status but otherwise clean credit profile. Effective APR roughly 35 – 50%. (2) If capital need can wait 4 – 10 months → wait for OnDeck approval at standard pricing once full 12 – 18 month post-release seasoning is complete. OnDeck term loan at APR 27 – 35% on $75K over 18 – 24 months produces effective interest cost approximately 50% cheaper than the equivalent Credibly MCA in the same capital amount, justifying the wait time for non-urgent capital needs. (3) Hybrid strategy: take a smaller Credibly MCA now ($25K – $40K) to address immediate capital need, refinance into OnDeck term loan in 6 – 12 months once full seasoning is complete, materially reducing long-term capital cost. The realistic HVAC merchant playbook: (1) Assess capital need urgency — if genuine same-day or same-week funding required, Credibly is structurally primary; if 4 – 10 months is acceptable, plan for OnDeck. (2) Evaluate Forward Financing as B-paper alternative with reconciliation policy and competitive lien tolerance; useful as backup if Credibly's pricing is uncompetitive on the specific file. (3) Consider equipment-specialist financing (Balboa Capital, Currency Capital) if capital need is specifically for HVAC equipment — collateralized financing at 12 – 22% APR materially beats both MCA and term loan for equipment use cases. (4) Plan the long-term migration: 12 – 18 months post-release seasoning unlocks OnDeck term loan; another 12 – 24 months of clean credit history unlocks Bluevine LOC at materially cheaper pricing. The structural rule for recently-released-lien files: short-term Credibly is the primary funder option in this 2-way; long-term value migrates to OnDeck term loan and eventually Bluevine LOC as the seasoning periods complete.