Quick answer
OnDeck and Credibly both fund SMBs with MCAs and term loans, but Credibly has a slightly lower factor floor (1.11 vs OnDeck's 1.11-1.49) and accepts lower paper (550 FICO vs OnDeck's 625+). OnDeck offers larger amounts ($5K-$250K term loans) and longer terms (up to 24 months). Pick Credibly for credit-recovering merchants; pick OnDeck for stronger files needing bigger checks.
Full answer
OnDeck and Credibly are direct competitors in the SMB working capital space. Both offer MCAs and term loans, both fund in 24-72 hours, both have A+ BBB ratings, and both serve the broad 'too big for credit card, too small for SBA' segment. The differences are at the margins but matter when picking the right fit.
Pricing comparison: Credibly's factor rates start at 1.11 (top tier) and typically range 1.15-1.35 for mid-paper deals. OnDeck factor rates range 1.11-1.49, with their term loans priced as APR (35-99% APR depending on profile). For top-paper merchants, the two are roughly equivalent on pricing. For mid-paper, Credibly often comes in cheaper by 0.03-0.08 in factor.
Approval requirements: Credibly is more permissive — 550+ FICO, 6+ months in business, $15K+/mo revenue. OnDeck is stricter — 625+ FICO, 12+ months operating, $100K+/yr revenue, no open bankruptcies. If your file is 550-624 FICO or under 12 months operating, Credibly is realistically your option.
Product range: OnDeck offers term loans up to $250K with 24-month terms, plus a line of credit up to $100K. Credibly's term loan caps at $400K, MCA caps at $600K. For larger checks ($300K+), Credibly's ceiling is meaningfully higher. For 24-month structured term loans, OnDeck's product is cleaner.
Prepayment: OnDeck offers prepayment discounts on term loans (interest waived on remaining term if paid off early). Credibly offers prepayment discounts on MCAs but terms vary by deal. Get the exact discount schedule in writing before signing in either case.
Bottom line: A-paper merchants needing $50K-$250K with a clean 12-24 month term loan structure → OnDeck. Credit-recovering, newer, or larger-check merchants → Credibly. Top-paper merchants should get quotes from both and pick the lower factor / APR.
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Methodology. Fundnode is an independent funding-platform that scores merchants against our 100-funder database. We earn referral fees from funders when merchants apply via Fundnode. Editorial rankings and answers are independent of fee structure. Updated 2026-06-25.