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8 User Reviews
LAST UPDATED: June 9th, 2021

New York based company Creditfy provides financing options to businesses of all sizes across the United States. Loan products include the following: 

  • Business line of credit
  • Equipment financing
  • Business term loan
  • Invoice financing
  • Bridge loan
  • SBA loan 

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The Good

  • Quick Application Process
  • Variety of Loan Options 

Quick Application Process 

Credify’s biggest strength is in fast and easy business financing. The company’s application is simple, taking less than five minutes to complete. And you can receive your funds as soon as 24 hours after your application has been approved. 

Creditfy does not perform a hard credit pull during the preapproval process, so your credit won’t be negatively impacted when you apply. It only performs a hard pull upon funding, after you’ve already received and accepted your offer. 

Finally, Credify approves loans for 82 percent of all applicants. And some of the individual loan products have even higher approval rates. 

Variety of Loan Options 

With a Creditfy loan, you can secure a rate as low as 5.6 percent with funds up to $2 million. Keep in mind that loan rates and approvals are based on your individual creditworthiness, revenue, and other factors. 

A loan advisor will review your individual funding options with you in detail after you apply, but there are several products to consider. 

Business term loan

  • Unsecured financing 
  • Rate as low as 14.5%
  • Loan term 3–18 months
  • Loan amount up to $1 million 
  • Few documents needed to apply: only requires a credit application along with 3 of your most recent bank statements

Business line of credit 

  • Rate as low as 8.5%
  • Loan term 6 months to 3 years 
  • Loan amount up to $250,000
  • Interest paid only on the amount you use
  • Builds your business credit

Equipment financing

  • 100% financing with no down payment required 
  • Loan term 3–7 years
  • Rate as low as 6.5%
  • Loan amount up to $2 million 
  • Serves the following industries: Agriculture, Automotive, Construction, Energy, Fitness, Hospitality, Industrial, Manufacturing, Media, Medical, Technology, Transportation and Waste Management

Additional financing solutions include SBA loans, bridge loans, and invoice financing. 


The Bad

  • Drawbacks of Some Loan Types 

Drawbacks of Some Loan Types

Prospective borrowers should be aware of the risks of each loan type in addition to the benefits.

For business term loans, since the product is short-term, the balance must be fully repaid within one year. 

For SBA loans, a lien on business assets is required for funding. 

Though unsecured loans may seem less risky than loans requiring collateral, the lender does need to find a way to get their money back if you don’t repay the loan. This may involve collections, additional charges, dings to your credit profile, and in some extreme cases, lawsuits. 


The Bottom Line

Creditfy’s application and approval process are fast and easy so, if approved, you can count on getting funded quickly. As you consider applying, you can play around with the company’s product calendar on the corporate website, which estimates your monthly payment based on your desired loan amount and term. 

Creditfy is a direct lender but also maintains a network of unaffiliated third-party funding providers with varying eligibility requirements and conditions. So, as you should with any loan, make sure you fully understand all loan details prior to signing an agreement. 

View Best Business Loan Companies 

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Andre Neyrey Millbrook, NY

Working with Creditfy is always a great experience. They are very knowledgeable and communication is great during the process. I refer all my restaurant clients to them now because of the rates and service. Andre N.

11 months ago

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Lisa McCarthy ,

Me and my husband applied for a loan with Creditfy and the process was very simple and straightforward. Andrew helped us with the process and we are happy we found this type of financing that is fairly fast.

11 months ago

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Joseph Bushard Dallas, TX

I am very satisfied with Creditfy. I applied and received an approval in couple of hours and received funding the next day. The funding for CAT 416 Backhoe would help me gain more traction in near future. I would like to say thank you to Creditfy team for assisting me with financing. Joe B. - DHS Excavating

1 year ago

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Tracy Yeager Metairie, LA

Was recommended to Credify by a business associate, handled my loan for my commercial equip easily and in a very timely manner. Would definitely recommend them!

11 months ago

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Olivia San Jose, CA

Andrew helped us with a line of credit and we are very thankful for his quick response and getting us money fast and they also waived fee to lower our interest.

11 months ago

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Mariel ,

I took short term financing, got loan very fast - all i need was voided check and phone call. Thanks for getting me funds.

11 months ago

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Charlotte Spencer Miami, FL

Great customer service, fast approval and communication, provided good advice.

7 months ago

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Debbie Stansbury Metairie, LA

Excellent service, knowledgeable people. Will definitely recommend.

11 months ago