Credibly (company)

CrediblyCompany type| Private Limited

|

Industry| Finance
Founded| 2010
Founder| Ryan Rosett, Edan King
Headquarters|

Southfield, Michigan

United States

Area served

| United States
Services| Working Capital Loan, Merchant Cash Advance

Credibly is an American financial services company based in Michigan. It provides financing to small and medium-sized businesses (SMBs).[1][2][3][4]

Over 46K small businesses have received over $2.25B from Credibly in over 1,000 industries. Credibly also provides business lines of credit, long-term loans, and equipment loans through financing partners.[5][6][7]

## History[edit]

Credibly, formerly known as RetailCapital LLC was founded in 2010 in Michigan by Ryan Rosett and Edan King. It has offices in Southfield, MI, New York, NY and Tempe, AZ. Credibly was founded after the 2008 financial crisis, a period after which small business owners had difficulties securing financing from traditional banks. RetailCapital LLC had a joint venture with Crestmark Bank, member FDIC, until 2014 when they received an investment from Flexpoint Ford, a private equity firm. The company’s first financial offering was focused on Merchant Cash Advances (MCAs) and soon expanded to offer Working Capital Loans (WCLs).[8]

In 2015, Retail Capital LLC rebranded as Credibly, expanding its product offerings to Business Expansion Loans (BXLs). The company also started offering merchants $100 million in funding year over year.[9]

Credibly partnered with the Small Business Association of Michigan to support small businesses.[10]

In 2017, Credibly repositioned its WebBank, (a Utah chartered industrial bank headquartered in Salt Lake City, Utah, member FDIC) loan origination program to offer loans directly through Credibly.[11]

## Awards[edit]

* 2015 became one of New York’s fastest growing companies in the Crain’s New York Fast 50.[12]
* 2023 Credibly named a USA Top Workplace by Employees[13]

## References[edit]

1. ^ "Best Small Business Loans For Veterans". Money.
2. ^ "Best Startup Business Loans For Bad Credit Of 2024 – Forbes Advisor". Forbes.
3. ^ "Credibly Continues Growth With $500M Origination Milestone, BizFi Portfolio | Bank Automation News". bankautomationnews.com. 31 August 2017.
4. ^ Ludwig, Sean (4 May 2020). "List of Fintech Companies Offering PPP Loans". www.uschamber.com.
5. ^ "Credibly Business Loans Review 2024 – Newsweek Vault". Newsweek.com. 19 February 2024.
6. ^ "Credibly Business Loan Review of 2024". Investopedia.
7. ^ "Best Fast Business Loans Of March 2024 – Forbes Advisor". Forbes.
8. ^ Penn, David (27 September 2023). "Credibly Teams Up with Green Dot to Bring Better Banking Services to SMEs". Finovate.
9. ^ "RetailCapital Rebrands – Credibly is Born". AltFi. 22 June 2015.
10. ^ "Fuelling Economic Growth in the Midwest – An interview with Ryan Rosett". AltFi. 17 November 2015.
11. ^ "Credibly Announces Second Offering Of Asset-Backed Securities – The First ABS Within The SMB Lending Space Since The Onset Of The COVID-19 Pandemic". Yahoo. 21 April 2021.
12. ^ "2016 FAST 50". crainsnewyork.com.
13. ^ "Credibly Profile". Top Workplaces.