Credibles provides a platform for food businesses to access working capital to fund operations and growth.
Based in San Francisco, Credibles works at the intersection of financial innovation, the sharing economy, and food systems. Credibles empowers communities to take control of their economic fate by enabling small & medium-sized food businesses to issue their own credits, or “credibles.” Using the Credibles online platform, businesses can issue credits to customers who prepay to purchase goods from their business (like a gift card), which serves as a mechanism for food businesses to access working capital to fund operations and growth.
As of 2016, Credibles has facilitated approximately $700,000 in prepaid credits for its participating food businesses (around 150 in 10 states). Also of note, 2016 was the first year that Credibles processed more than $500k in redeemed credits. The boost was largely driven by its Fresh Creds program at Mandela Marketplace in Oakland.