Best Small Business Loans in March 2023 | Bankrate

Overview: Established in 2010, Credibly has helped over 67,000 small and medium-sized businesses access more than $2.14 billion in funding. Credibly currently operates as a direct lender of working capital loans and cash advances. It also partners with other lenders to offer business lines of credit, long-term loans, equipment financing, SBA loans and invoice factoring.

If you’re approved for a small business line of credit, you’ll get access to a pool of funds — up to $300,000 — that you can borrow from as you see fit, and you’ll only pay interest on the amount you use.  Credibly offers both secured and unsecured lines of credit.

Why Credibly is the best for bad credit business loans:  Credibly looks beyond your credit score and analyzes the overall health of your business to determine if you’re a good fit for a small business loan. You could get approved with a personal credit score as low as 600. 

Pros

• Accessible to borrowers with low credit scores 
• Online pre-qualification available with no impact on your credit score
• Funds in as little as 24 hours 

Cons

• Loan origination fees assessed to some borrowers
• Not offered to borrowers in select states
• Interest range not disclosed