Press release

Credibly Announces Investment Grade Senior Debt Offering – Positions Itself As Leader In Risk Management

Sponsored by Businesswire

In November 2018 Credibly announced the first rated securitization of
its receivables portfolio, a large step forward in its ability to
originate and service an even larger number of SMB customers. Today,
Credibly announces the next phase in its balance sheet growth strategy
with a $10 million Investment Grade-rated senior debt offering. The
transaction closed on March 28, 2019.

Credibly and its products have been exceeding expectations for years and
securitizing its portfolio provides a means to significantly lower its
cost of capital and compete more aggressively in the SMB lending space.
The $61M asset-backed transaction announced in November is expandable to
$237.5M to support the company’s anticipated growth, but was only the
first phase of its funding strategy.

“We are proud of our growth, profitability, and the performance of our
assets,” said Michael Seneski, Chief Financial Officer. “Solidifying
the strength of our balance sheet with this $10M Senior Debt Offering is
the next step in continuing our aggressive growth trajectory.”

The Senior Debt Offering was deemed investment grade quality by SEC
registered Egan-Jones Ratings Company, reaffirming Credibly’s abilities
as both an originator and a servicer. The rated issuance further lowered
the company’s cost of capital, which will strengthen its financial
position and help to fund continued growth and profitability.

“This is a major milestone,” said Ryan Rosett, Founder and Co-CEO. “The
investment grade rating shows that we can continue to scale our
operations while maintaining reliable, stable, and predictable
performance, while financing businesses which would typically be

Since 2010 Credibly has provided over $1B in SMB financing, while
experiencing industry-leading loss and recovery rates. Only a handful of
companies in the SMB lending space have completed an asset-backed
securitization, and the investment grade rating on the Senior Debt
Offering validates Credibly’s position as the leader in risk analysis.

As Credibly continues to grow, they remain focused on improving their
product suite and data science capabilities to serve an even broader
range of SMBs throughout the credit spectrum, while maintaining their
emphasis on risk management and a strong culture of compliance.

Brean Capital, LLC acted as the company’s advisor and sole placement
agent in connection with the Senior Debt Offering.

About Credibly

Credibly is a Data Science-driven fintech lending platform which
improves the speed, cost, experience, and choice of capital to SMBs. The
company provides balance sheet, syndication, and off-balance sheet
funding options, while offering its partners access to its robust data
science capabilities.

Founded in 2010, Credibly has provided more than $1B in capital to SMBs,
while maintaining a strong emphasis on risk management and a culture of
compliance. In 2017 Credibly became the first company in its space to
acquire servicing rights to another alternative lender’s portfolio
($250M). Credibly was chosen for its proven approach in measuring and
managing risk.

Credibly’s headquarters are in Troy, Michigan, with offices in New York
and Arizona. For more information, please visit

About Egan Jones

Egan-Jones Ratings Company is a Nationally Recognized Statistical Rating
Organization (NRSRO) and is recognized by the National Association of
Insurance Commissioners (NAIC) as a Credit Rating Provider. Egan-Jones
is also certified by the European Securities and Markets Authority