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Funding Circle Review
Reviews 13,873
Funding Circle
Funding Circle
Excellent
Reviews 13,873
Michael Graw
Jun. 27, 2021
2 min read
Michael Graw
Funding Circle Summary
Funding Circle is a direct to small-business lender founded in 2010. Since its inception, the company has lent over $15 billion to more than 100,000 small businesses. Funding Circle offers small businesses flexible business term loans with affordable monthly payment options and competitive rates. The lender offers online applications and can make a funding decision in just 24 hours. Funding Circle has a 4.5-star rating with Trustpilot.
Pros
  • Funding decision within 24 hours of applying
  • Apply for all funding options with a single application
  • No prepayment penalty
Cons
  • Requires personal guarantee for most loans
  • Stringent qualifications for borrowers
  • Does not currently fund Nevada based businesses

Funding Circle at a glance

8.4
Editorial score

Online experience

Has learning resources, access to rates, mobile app
10.0

Customer services and support

Multiple ways of reaching lender, wide range of hours
8.0

Variety of loan types

Offers all loan types*
10.0

Loan amount range

Loan amount up to $500K
8.0

Eligibility

Loans only available to excellent credit, high-revenue businesses
6.0

Overview

Funding Circle specializes in business term loans of 5 years, but offer terms from 6 months to 10 years. They also offer a wide range of additional loan types including SBA loans, merchant cash advances, business lines of credit, invoice factoring, and working capital loans. Depending on which type of loan you choose, you can borrow between $5,000 and $500,000 and repay your loan in weekly, biweekly, or monthly installments.

Funding Circle has a unique model for offering loans. The company handles the application, approval, and loan management process, but your funds come with one of Funding Circle’s network lenders. That means that the terms of your loan, such as your interest rate and repayment options, can vary based on which lender your loan comes from. 

Why Funding Circle Is Good For Your Business


Funding Circle offers a wide range of loan options, including SBA loans, business term loans, and more. Part of what helps Funding Circle stand out is that it works with a network of lenders, so it can offer funding to a wider range of businesses than most individual lenders.

On top of that, you can apply for any type of loan with Funding Circle using a single online application. Funding Circle makes loan decisions in 24 hours and can deliver funds as soon as the next business day. So this service is suitable if your business needs money quickly.

Loan Features


Funding Circle loans range in size from $5,000 to $500,000. Repayment terms vary depending on the type of loan you choose. For example, business term loans can be repaid over a maximum of 10 years, while working capital loans must be repaid in 18 months. No matter what type of business loan you need, Funding Circle enables you to apply online and receive a funding decision within 24 hours.

  • Borrow $5,000 to $500,000
  • Receive funds in 1 business day after approval
  • Must be in business for at least 2 years
  • Cannot have filed for bankruptcy in the last 7 years
  • Minimum credit score of 700 to qualify
  • Minimum monthly revenue of $20,000
  • Origination fee from 3.49%-6.99%
  • No prepayment penalty

Application Process


You can apply for a small business loan with Funding Circle online. The application takes just 6 minutes to complete and asks for information about the size of the loan you’re looking for, your business, and your financial history. Funding Circle runs a soft credit check, which doesn’t impact your credit score, as part of your application.

Once you submit the application, Funding Circle will contact you within 24 hours with a decision. You can choose from one or more loan offers and submit your supporting documentation online. Depending on the type of loan you select, funds can be available by the next business day.

How Much Can You Borrow? 


Funding Circle offers loans ranging from $5,000 to $500,000. However, the exact amount you can borrow varies based on your business’s revenue and the type of loan you need. Working capital loans are available from $25,000 to $400,000, while business lines of credit range from $6,000 to $250,000.

  • Must be in business for at least 2 years
  • Minimum 700 credit score required
  • Minimum monthly revenue of $20,000

Repayment Terms

Funding Circle offers repayment terms from 3 months to 10 years for business term loans and SBA loans. For working capital loans, the repayment term ranges from 6 to 18 months. Interest rates vary from 4.99%-27.79% APR and Funding Circle charges an origination fee of between 3.49% and 6.99% of your loan amount. There is no prepayment penalty for any loans. Most Funding Circle loans require a business lien and personal guarantee.

Privacy and Security 

Funding Circle uses SSL (Secure Socket Layer) encryption to protect your application information and the online loan management portal. The company has an A+ rating with the Better Business Bureau and a 4.5-star rating on Trustpilot.

Help & Support

You can contact Funding Circle’s customer support team by phone or email from 6 am-5 pm (PT), Monday to Friday. The company’s website also has a detailed FAQs page that answers questions about rates, repayment, and the application process.

Phone: (855) 385-5356

Email: loanquestions@fundingcircle.com

Physical Address

Funding Circle, 85 2nd Street, Suite 400, San Francisco, CA, USA 94105

Summary

Funding Circle is a direct small business lender specializing in business term loans of 5 years. They also offer SBA loans, business term loans from 6 months to 10 years, merchant cash advances, business lines of credit, invoice factoring, and working capital loans. You can apply online in minutes and get a funding decision and money transfer in as little as 24 hours. Funding Circle has funded over $15 billion in business loans to date and has an A+ rating with the Better Business Bureau. 

Methodology

This review was created with information from the Funding Circle website, the Better Business Bureau, and Trustpilot.


Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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See what some costumers are saying about Funding Circle
Funding Circle
Excellent
Reviews 13,873
on
Excellent
84%
Great
6%
Average
1%
Poor
1%
Bad
8%
v
vic yorke
20 hours ago
Everything was made very clear and easy…
Everything was made very clear and easy from the beginning and felt any questions I had where well explained James was great and very easy to contact. He was sharp with replies/responses even if he was busy
A
alan powell
2 hours ago
Easy to use and great service.
Easy to use and great service. The paper work is a bit of a pain but they talked me through every step. Would use again.
J
jeremy snyder
17 hours ago
Funding Circle either has a Crook in…
Funding Circle either has a Crook in their midst or a hacker gaining information from their Portal. I applied for a Refinance loan on FC's Portal. Later that day I was called and told they did not have a "product" for me at this time but would reach out in the future when something was available. A week later that "product" arrived to my email as a "Conditional Offer". They requested more info at that time....which I provided (normal items like a bank statement and a DL). Time passes and they inform me my debt ratio is off and I may need to pay off 1 or both of my outstanding loans off to secure the new refinance loan. I receive pay off requests aligning with my loans followed by payoff notices. All looking identical to FC's current Docs. Everything I received looked exactly like FC paperwork, emails, and Docu-signs. Turns out the money was transferred to a Crypto account and is lost. For this person to know my account numbers and amounts owed they must have had access. Some time had passed and I logged back into the portal. Every loan I ever applied for with FC is on my FC homepage listing Date, Amount, and Outcome (funded or denied). The loan I applied for resulting in Fraud says "withdrawn". I never withdrew the loan request. Whoever at FC that switch my application to withdrawn is likely responsible for this Fraud. FC has allowed my personal and business information to be compromised. Be careful with them. They have a serious problem currently.
J
james
a day ago
The process was good and well managed…
The process was good and well managed but it became a bit protracted
S
sharon mcfarlane
a day ago
Very impressive service
I was amazed at how efficient and quick the whole process was. I filled in the application on the Thursday afternoon and the money was in the bank by Tuesday afternoon, having your own personal account manager is great too. James Pompei is mine and he was excellent at keeping me informed every step of the way. A far better service than any bank would give.
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nigel rogers
a day ago
Efficient
Efficient, polite, great result.
A
a.b
a day ago
Thank you James for assisting me
Thank you James for assisting me. You did a good job 👏
K
katie evans
2 days ago
The process was very easy and simple…
The process was very easy and simple and communication was great.
R
richard bray
2 days ago
Jack was very efficient and proactive…
Jack was very efficient and proactive with our interactions.
R
rory mckeever
3 days ago
Overall the process was quick and the…
Overall the process was quick and the our point of contact Philip Arnett really helped us get through the application quickly and efficiently.
c
customer
3 days ago
Swift communication
Swift communication, great customer service, easy application process, and money received ahead of schedule.
T
tracey geraghty
3 days ago
Top Service
Sherry was very helpful, and very efficient. Cannot fault the service received from start to finish. All in all my funding was arranged in under a week and funds in the bank. Thank you for your help!
D
darren greenhaf
3 days ago
Amazing service for a Business loan
Amazing service for a Business loan, need not look anywhere else. And David was fantasic in keeping me updated with everything.
J
jo caesar
4 days ago
Excellent customer service
Excellent customer service, I was kept fully informed throughout the process and felt very well supported.
R
rose
5 days ago
Good Experience
Paul, the advisor, totally understood our needs
G
gareth burchell
6 days ago
The relationship Manager was efficient…
The relationship Manager was efficient and the customer service from him was very good. The application process was also positive, quick, easy and self explanatory. The documentation process was unspecific, without consistency and undefined. That caused frustration.
P
pete smale
6 days ago
Our acocunt manager Sherry Habib made…
Our acocunt manager Sherry Habib made the experience great. Keeping us informed of the options available to us, promptly calling back when arranged and going through everything clearly.
M
mr howell
6 days ago
Fast affordable funding made available…
Fast affordable funding made available with a straightforward application process. You get assigned an account manager that is there to guide you through the process and answer any questions you may have.
M
matthew miraut
6 days ago
Good company with clear guidelines
Great company to help the business, persistent for sure but polite and respectful. quick to act
A
alexander amery
7 days ago
DO NOT USE FLEXIPAY!
Funding circle cannot be trusted with their flexipay service. I had my account suspended for 90 days today. Why? I hear you asking? Well...because I cancelled my direct debit with my CBIL loan with them to reinstate with another bank. WHY DOES THIS EFFECT MY FLEXIPAY ACCOUNT? They will not say. But they suspended me. Absolutely disgraceful and I am writing an official complaint. Good thing I had the funds for payroll today otherwise I would have had a very embarrassing conversation with my staff. Do not use this service, they will withdraw it without just cause. They cannot be trusted
C
customer
7 days ago
3rd time now with Funding Circle
3rd time now with Funding Circle, and the process is much easier than with the banks. Good communication throughout.
A
april meredith
7 days ago
Very helpful
Very helpful
H
holly sutcliffe
7 days ago
Quick and Easy
It was a very quick and easy process made even simpler with the help from George.
P
patient guard ltd
7 days ago
Great customer service
Phil was very attentive and helped us understand the process from start to finish. Excellent customer service.
G
ganesh kabilan
7 days ago
The fastest loan available in the…
The fastest loan available in the market for a genuine business . The interest rates is higher than Main Street lenders however for the people using the fund wisely is good . We didn’t have to fill out business plan and forms after forms . James was chasing me to get the things done even when I am in holiday 😁. Took almost 3 days .
G
graham lyons
7 days ago
Mohammad done his very best for me and…
Mohammad done his very best for me and was prompt, helpful and guided me through the process very well
K
kristian kinch
7 days ago
James was very clear
James was very clear, helpful and polite whilst dealing with my application Very professional all the way through !!
A
alan
7 days ago
Very satisfactory
Every stage went smoothly. Communication was clear and Sherry and Piers were both very helpful. Very pleased with the whole experience.
K
karl scott owen
8 days ago
A pleasant easy experience
A pleasant easy experience, made easier by Sam, who was there every step of the way, following up and giving guidance and was very thorough.
C
caroline grimes
8 days ago
Farhan was extremely helpful during the…
Farhan was extremely helpful during the loan process & I would definitely recommend Funding Circle for anyone looking for a loan.
N
niyas alappurathu muhammed raf
8 days ago
James was so helpful
James was so helpful. Explained everything in detail. Easy process. Thank you so much James and Fund Circle!!
C
c grey
8 days ago
Thoroughly helpful and friendly…
Thoroughly helpful and friendly service. Well done Funding Circle.
S
swati naidu
8 days ago
Very prompt and efficient team and very helpful
James was amazing and the paperwork was easy and simple. It dint make you feel overwhelmed
F
frank deer
8 days ago
Very friendly
Very friendly, good communication - 5star!
J
john richardson
9 days ago
Super easy to work with and so helpful…
Super easy to work with and so helpful throughout the process!
D
david newell
9 days ago
Dragana made the whole process of…
Dragana made the whole process of getting my business loan a great easy and very professional. All in all a very good experience.
S
simon
9 days ago
Really professional service
Really professional service, assigned a good account manager that helped with our application and very speedy result! Highly recommended!
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ola
9 days ago
Wonderful Service
I applied for a business loan from funding circle after receiving numerous letters through the post. I was assigned an account manager (Felix) from the start. From application to funds being released took 6 days in total. Felix was very helpful throughout the process and kept in contact constantly to provide updates. I couldn't praise the company and Felix enough - highly recommend!
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sally lugg
10 days ago
excellent service from James
excellent service from James. Kept me informed throughout the process.
V
valentin
10 days ago
Took a while but when in need it's a…
Took a while but when in need it's a reliable company.
L
leonard drane
13 days ago
Excellent speed of service
Excellent speed of service
Z
zaineb field
13 days ago
Very easy and straightforward
Very easy and straightforward. No complications and funds were deposited within days of submitting the application.
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mark verard
13 days ago
Very easy process
Very easy process, they kept me up to date with progress. Simple & easy to complete, my experience was finding my account manager - Greg Newton very pleasant & helpful
D
david finlayson
13 days ago
Efficient
Quick, kept informed and efficient-what more do you need?
H
hayley reynolds
13 days ago
Really excellent
Really excellent, thank you!
M
mr a musgrove
13 days ago
Fantastic process
Fantastic process, very quick and easy. Elena called to make sure everything was completed fully.
S
s café
13 days ago
Isabel Nash Is the best and amazing…
Isabel Nash Is the best and amazing manager I have ever met and was very helpful to find the best solution for expansion of my business. She helped every step away through application or anything I needed. It’s very hard nowadays to find amazing 🤩 members of staff! But Isabel Nash is definitely one of them .😊
M
mm
13 days ago
Quick response and regular…
Quick response and regular communications to reassure customer about progress. Good customer service too.
C
clyde
13 days ago
A breeze
Great dealing with Greg especially.Quick decision and had money within a couple of days
P
pivotal energy
13 days ago
Very positive experience and outcome
James was really helpful and kept us informed at all times. He achieved a very competitive deal for us which gives us the springboard for further growth. We are delighted with the outcome.
R
russell townend
7 days ago
Unbelievably poor business
Unbelievably poor business. Service and communication is nonexistent once they have what they want. If ever you need to speak to someone about your investment or accessing £, good luck - you'll need it. If you do manage to get through, or actually receive a call back (unlikely in the extreme), expect evasion at best. It will be interesting to see whether they address this review openly, in the public eye, or give their usual "please email us" response. Post 'response' edit: as expected, no real reply from the funding circle s**t show.
C
carol ritchie
14 days ago
Helpful and Informative
Very helpful and explained all that was involved/required
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claire tyler
14 days ago
When I needed some working capital for…
When I needed some working capital for my business Funding Circle was there to help. They listened to what I needed and provided all that I needed.
T
tracey cater
14 days ago
Chelsea made the process easy to go…
Chelsea made the process easy to go through, information was clear and when I struggled with the technical stuff she sorted it all out.
C
chukwudi ukpaka
14 days ago
very professional and thorough service
very professional and thorough service
P
paul stewart
14 days ago
Amazing communication and support
Amazing communication and support. Very efficient service !
I
ian p
14 days ago
Brilliant
Was fantastic working with Daniel, he was always available to help in any way he could. A real asset and credit to Funding Circle.
S
sg
15 days ago
Impressive. George Gibbon 5*
From the moment I submitted the relevant documentation to assess loan to the funds being drawn down took no longer than 7-8 days. This was, for what I consider, a substantial amount of money which makes things even more impressive. Thank you. As both a lender in the past and as a borrower I can thoroughly recommend. George Gibbon you are the man!
P
paul squires
15 days ago
Excellent service and support from start to finish
Tom made the whole process straightforward and I felt he was on my side from the outset in trying to source funds on terms acceptable to my business. The liaison with the ultimate lender which Tom undertook was invaluable and he was able to get them to apply a pragmatic approach to underwriting the loan. The whole application was dealt with in a much more sensible and mature way than I have experienced with High Street lenders in the past and we got the result I asked for which now allows me to invest in and develop my business. I’m very satisfied with the result and impressed with the process.
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graham hennis
15 days ago
quick and easy process
Thomas Little explained how the process would work and explored all options for me; Thomas advised me the best way forwards and kept me updated with how the process was going, and was very polite and knowledgeable and reassured me that a lot of businesses have issues with late invoice payments.
C
cid fire and security
15 days ago
We have used Funding Circle on a number…
We have used Funding Circle on a number of occasions and found them very easy to work with and would definitely recommend them.
R
robert peers
15 days ago
Very impressed with the process and my…
Very impressed with the process and my account manager Daniel . Very helpful and professional.
J
john davidson
15 days ago
Rashid was very helpful throughout…
Rashid was very helpful throughout talked me through everything and made the decision easy thanks
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dan campling, brandtastic ltd
15 days ago
Quick, friendly & Easy
Not our first round of Funding with Funding Circle and as always a really quick and easy process, for a requirement that can seem quote daunting. Great friendly comms.
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tony evans
16 days ago
Dragana was a helpful
Dragana was a helpful, intelligent, guide and completed the loan arrangement in good time.
F
faizel manjoo
16 days ago
Great service!
Funding Circle were from start to finish. I was helped by Thomas and he ensured that everything was done in the shortest time frame so that we could maximise our business opportunity. I definitely recommend them!
R
ricky nixon
16 days ago
Simple, easy and hassle free application
Steps involved in getting the loan from funding circle were easy to follow and the accounts manager Daniel was very helpful and kept me updated every step of the way. Loan completed within the week.
S
simon
16 days ago
Leone made the whole process very…
Leone made the whole process very smooth and painless, we were kept upto date with progress at all times. Surprised how quickly funds were received.
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chantelle
17 days ago
This is my 2nd loan with Funding Circle
This is my second loan with Funding Circle. Both times the process was relatively easy. On this occasion Jack Templeton was our account manager, I found him very helpful and clear in our communication. Thanks Jack for all your help
S
steven
17 days ago
Smooth, easy, and fast process from application to funds
The online process was smooth and clear. Great to see you can explore options without affecting credit score before deciding to proceed. Isabel, our Account Manager was in touch soon after the online application had been submitted to talk us through the next steps, and just a few days later the funds were available.
J
jo fenn
17 days ago
So quick and easy!
So quick and easy! We needed so extra cashflow due to expansion and moving premises and it was all done and sorted money in the bank in 3 days! So please with the service, excellent!
J
joel davey
18 days ago
Efficient and reliable service to…
Efficient and reliable service to secure the extra funding I needed, customer support was very helpful in walking through the process each step of the way.
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peter richards
18 days ago
Very helpful and service was excellent!
Very helpful and service was excellent!
S
sergejs lascenko
19 days ago
We've been working in construction for…
We've been working in construction for the last 16 years. We have secured a big project. Unfortunately, due to some circumstances, we could not afford cash flow. We ask for support from our bank, which we were together for 20 years. They did not give us any support at all. The company we work together on one project told me one day regarding Funding Circle. He used them three times already to support cash flow for new projects. I complete the application form, and I have money in my account within a week. Paul Ashikodi, my loan account manager, and Jade Wilks, my Flexi Pay account manager, were very helpful and polite. It was a big help at the right time.
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elliot lancaster
19 days ago
Rashid is was so friendly and helpful…
Rashid is was so friendly and helpful beyond what I felt was he duty. The other staff I spoke to were also really friendly & helpful.
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inderjit binning
20 days ago
Good communication and quick decision…
Good communication and quick decision easy yo send documents why I used again
C
curtis
21 days ago
Sean was extremely helpful with my…
Sean was extremely helpful with my application. Really had a good understanding of the issue I was facing and found the perfect solution with a flexible loan. All in less than a day!
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shane warren
21 days ago
ID theft from this company
Had a bad experience after sharing my personal details with this company. My business and personal details + bank and card information was used to access my bank account. Thankfully, there were many fraud preventions in place to stop them taking money from my account HOWEVER they called the bank to pretend to be me. This is the ONLY website I have ever disclosed my personal + BUSINESS information to so I can only draw one conclusion here and assume Funding Circle has some dodgy goings on here. Reported to my bank and the police
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clive coles
21 days ago
Professional service
From the first point of contact I dealt with Leone, the whole process was made very easy and every step was explained in full. Leone’s professional approach was the key to this. This is our 3rd cash injection over the years to push our business forward so no doubt we will be back for more 😃
D
dale
21 days ago
How I found the loan process
I found this loan and the process to be straight forward and very helpful indeed. The rates are pretty reasonable and the repayment term is affordable. Thank you for you assistance and I will recommend Funding Circle to others
P
patrick hughes
21 days ago
Luke was very helpful and proactive
Luke was very helpful and proactive. A great service.
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wayne johnston
21 days ago
Everyone was very helpful
Everyone was very helpful
H
hq
22 days ago
Very efficient
Very efficient
D
dj
22 days ago
Daniel was brilliant from start to…
Daniel was brilliant from start to finish. He kept me informed at every turn. Very quick service Thank you
S
stephen pease
22 days ago
A pleasure to deal with.
We found dealing with Funding Circle a pleasure. The funding was easy to set up with no nonsense there was a few 'technicalities' our end but Rashid talked us through the process. Thank you.
M
m smith
22 days ago
Account Manager for the Win!
My experience using Funding Circle was relatively straightforward, what set this firm apart is the fantastic account manager called Piers that I was assigned. He build reports and took time to understand our business to make sure he was providing exactly what would suit us.
P
philip white
22 days ago
Mo provided great assistance and…
Mo provided great assistance and guidance throughout the application process. He dealt with all queries patiently and calmly and was easy to talk to when I had questions.
H
heather
22 days ago
Great communication and quick resonses
Great service. Easy to apply, quick responses and excellent communication over the phone from Henry. We highly recommend.
J
jonathan watson
23 days ago
A very professional service and great…
A very professional service and great customer service. Would highly recommend.
R
richard paterson
23 days ago
Funding Circle offered me clear answers…
Funding Circle offered me clear answers concise advice and where fully supportive of giving me all the assistance I required. Couldn't recommend them enough
E
eric
23 days ago
Funding Circle - The Best!
George made the whole process so simple. He explained everything I needed to know and helped me through every step. Thoroughly recommend Funding Circle to all businesses.
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abdelkhalek bakkari
24 days ago
Fake funding site
Fake funding site
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tapiwa mandeya
24 days ago
What a swift and precise service…
What a swift and precise service offered. They keep you informed every step of the way and questions are answered quickly and genuinely with zero stress. Thanks very much
C
christina bell
24 days ago
Great service from Sherry
Great service from Sherry. Quick and efficient.
B
brian kenwright
24 days ago
David Adeoye was very helpful & kept…
David Adeoye was very helpful & kept things simple throughout the process.
M
mattika mcmahon
24 days ago
Loan
Really easy to apply, agent was good and helped to get the loan unlike the bank who wanted loads of forms filled in.
G
geoff bull
24 days ago
Small Business Funding
Easy process, quick professional service
K
karen hart
24 days ago
From start to finish of the application…
From start to finish of the application we had fantastic service from Daniel who explained the full process and assisted with any enquires we had, would fully recommend Funding Circle.
M
m g
25 days ago
Dragana was very helpfull she really…
Dragana was very helpfull she really went out beyond her duty to help out . I really appreciate her big input in me recieving the funds .
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barry
a month ago
Very easy to work with and very…
Very easy to work with and very passionate about what he does thank you