The specs
Square CapitalCredibly
Product typeMCAMulti-product
Amount range$300 – $250K$5K – $600K
Cost (factor / APR)Single fixed fee (10 – 16% of loan amount); no APR / no compoundingFactor 1.11+ (MCA); APR varies (term)
Speed to fundAs soon as next business dayAs fast as 4 hours
Min time in business12 months6 months
Min monthly revenue$10,000+ in Square card sales typical floor$15,000
Min credit scoreNo FICO pull — underwrites entirely against Square sales history550+
Products
- Embedded seller working capital (Square sellers only)
- MCA
- Working capital LOC
- Short-term term loan
Verdicts by use case
- Restaurant on Square for Restaurants POS with A-paper profile — Winner: Square Capital. Square Capital's single-fee structure (10 – 16% of advance, no APR) and embedded dashboard offer beats Credibly on simplicity and transparency for Square-native restaurants. No FICO pull, no application, no broker markup.
- Restaurant not on Square or needing larger advance ($150K+) — Winner: Credibly. Square Capital is Square-sellers-only and caps at roughly 1.4× monthly Square sales. Credibly underwrites against bank statements regardless of POS and goes to $600K MCA — accessible to non-Square restaurants and to larger advance amounts.
- Fastest funding into operating account for Square-active restaurants — Winner: Square Capital. Square funds as soon as next business day after acceptance, with the offer already pre-qualified in the dashboard. Credibly funds in as fast as 4 hours but requires submitting bank statements and FICO pull first. For Square-active restaurants with an existing Square Capital offer, Square is the faster path end-to-end.
- Newer restaurant (6 – 12 months operating) — Winner: Credibly. Square Capital typically requires 12+ months of Square processing history. Credibly's 6+ month TIB floor is reachable for newer restaurants that don't yet have Square's preferred sales runway.
- Restaurant wanting broader product set (LOC + term + MCA) — Winner: Credibly. Credibly offers MCA, working capital LOC, and short-term term loans under one underwriting umbrella. Square Capital is one product (embedded MCA) — useful for one-shot working capital, not for recurring or revolving capital needs.
The honest takeaway
Square Capital 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
- Why would a Square-active restaurant take Credibly instead of Square Capital?
- Three reasons: (1) Larger advance — Credibly's $600K cap dwarfs Square's typical $50K – $100K cap for mid-size restaurants. (2) Product choice — Credibly's LOC fits recurring needs better than Square's one-shot MCA. (3) Square hasn't extended an offer — Square chooses who gets offers, so a restaurant without a Square Capital pre-qualification has to look elsewhere anyway.
- Does Credibly pull a FICO score for a restaurant deal?
- Yes — Credibly does a hard credit pull with a 550+ floor. Square Capital does no FICO pull at all. For restaurants with damaged credit (sub-550 FICO) who are otherwise running healthy Square processing, Square Capital is structurally accessible where Credibly isn't.
- Which one is cheaper for a $40K/mo restaurant taking a $50K advance?
- Square at 12% fee on $50K = $6K total cost (factor equivalent 1.12). Credibly at 1.20 factor on $50K = $10K total cost. Square wins on headline cost for A-paper Square-native restaurants. Credibly becomes more relevant at larger advance sizes (per-dollar cost compresses) and for restaurants who'd otherwise pay broker markup on a non-Square MCA.