The specs
Newtek Business Services (Newtek Bank)Credibly
Product typeMulti-productMulti-product
Amount range$50K – $15M (SBA 7(a) + 504 + conventional); $10K – $250K business LOC$5K – $600K
Cost (factor / APR)SBA 7(a) Prime + 2.25 – 2.75% (variable); conventional + LOC APR variesFactor 1.11+ (MCA); APR varies (term)
Speed to fundSBA: 30 – 60 days; LOC + working capital: 5 – 10 business daysAs fast as 4 hours
Min time in business24 months6 months
Min monthly revenue$20,000+/mo typical for SBA approval$15,000
Min credit score660+ (SBA); 640+ (LOC)550+
Products
- SBA 7(a) loans
- SBA 504 loans
- Conventional term loans
- Business lines of credit
- Equipment financing
- Payment processing
- Payroll + benefits
- Insurance + web services
- MCA
- Working capital LOC
- Short-term term loan
Verdicts by use case
- Cheapest cost of capital for an SBA-eligible borrower — Winner: Newtek Business Services (Newtek Bank). Newtek's SBA 7(a) at Prime + 2.25 – 2.75% (roughly 10.5 – 11% current) is dramatically cheaper than Credibly's MCA factor (1.11+) or short-term APR. For borrowers who qualify for SBA and can wait 30 – 60 days, Newtek is materially cheaper capital.
- Speed — cash needed this week — Winner: Credibly. Credibly funds as fast as 4 hours after document review. Newtek's SBA 7(a) is 30 – 60 days minimum; even their conventional LOC is 5 – 10 business days. For genuine same-week needs Credibly is the faster path.
- Long-term capital need (3 – 10 year amortization) — Winner: Newtek Business Services (Newtek Bank). Newtek's SBA 7(a) and conventional term loans go up to 10 – 25 years. Credibly's products are 6 – 18 months — wrong product shape for multi-year capital needs like equipment, expansion, or real estate.
- B/C-paper borrower (sub-660 FICO, recent NSFs) — Winner: Credibly. Newtek's 660+ SBA / 640+ LOC credit floor declines B/C-paper borrowers. Credibly accepts 550+ FICO and routinely funds B-paper merchants. For damaged credit Credibly is structurally the only option in this pair.
- Bundled financial services beyond lending — Winner: Newtek Business Services (Newtek Bank). Newtek bundles payment processing, payroll, benefits, insurance, and web services with lending. Credibly is lending-only. Borrowers consolidating financial-services vendors prefer Newtek's bundled platform.
The honest takeaway
Newtek Business Services (Newtek Bank) and Credibly 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 need $200K for equipment — Newtek SBA or Credibly?
- Newtek SBA, if you can wait 30 – 60 days and qualify (660+ FICO, 24+ months TIB, $20K+/mo revenue). $200K SBA 7(a) at 10.5% APR over 10 years costs roughly $125K total — vs Credibly MCA at 1.25 factor on $200K = $50K cost in 9 – 12 months. Credibly looks cheaper in absolute dollars but the daily ACH debit hits cash flow much harder and the implied APR is 50%+. SBA is structurally cheaper capital for a planned equipment purchase.
- Why would I take Credibly over Newtek?
- Three structural reasons: (1) Speed — Credibly funds in hours vs Newtek's 30 – 60 days for SBA or 5 – 10 days for LOC. (2) Credit — Credibly accepts 550+ FICO; Newtek's 660 SBA / 640 LOC floor declines B-paper. (3) Documentation — Credibly is bank statements + DL; Newtek SBA wants 3 years tax returns, business plan, projections, collateral. For B-paper borrowers or genuine same-week needs Credibly is the only option in this pair.
- Can I stack Newtek SBA and Credibly MCA?
- Technically yes but cash-flow-painful. Newtek SBA monthly amortization plus Credibly daily ACH on the same revenue base can break cash flow. Most lenders also have anti-stacking language — SBA originators may call the loan if they detect a stacked MCA. If you have a Newtek SBA in flight, do not take a Credibly MCA on top without consulting your SBA loan officer first. Better path: use Newtek's own LOC (single underwriter, no anti-stacking conflict) for short-term needs alongside the SBA term loan.