Jun. 27, 2021

2 min read

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

4.2

Editorial score

Online experience

Has learning resources, access to rates, mobile app

5.0

Customer services and support

Multiple ways of reaching lender, wide range of hours

4.0

Variety of loan types

Offers all loan types*

5.0

Loan amount range

Loan amount up to $500K

4.0

Eligibility

Loans only available to excellent credit, high-revenue businesses

3.0

Funding Circle View Rates

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

Funding Circle View Rates

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.

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.‎

Trustpilot reviews

See what some costumers are saying about Funding Circle

Excellent

•

Reviews 13,412

Excellent

83%

Great

Average

Poor

Bad

niall martin

17 hours ago

Killian was professional,empathetic and…

Killian was professional,empathetic and patient through the process.

anon

2 days ago

Excellent level of customer service

Excellent level of customer service. Clear and timely communication throughout the process. The application process is simple, clear and efficient.

dusan

2 days ago

Very good service

Very good service, no complaints.

lisa ellis

2 days ago

Simplistic process and supported by an…

Simplistic process and supported by an experienced and informed Accounts Manager, who presented with exceptional client-centred skills.

adam sheppard

3 days ago

Excellent service

Excellent service. Very professional and attentive Great outcome. Would definitely recommend

alan murray

3 days ago

BAD DEBTS

Good Day, i am a lender to FC more than 8k in BAD DEBT , the original risk categories were low, medium & high........however so many loans had their risk category changed / removed and then classed as bad debt. FC recovery is snail slow ....if at all, despite communicating with FC no offer of compensation, they will do nothing for you bar give you a hundred excuses ...... its obvious that they did not vet borrowers robustly enough as so many loans went into default ! Other competitors have been far more sympathetic and helpful to lenders , some offering to buy the debt and refunding investments or offering at least a % of the losses back to save you waiting for years to get anything back, this week i received 2pence back !! FC now do not accept individual lenders cash now !!!! i wonder why ???

naleer mohammed adambawa

4 days ago

VERY UNDERSTANDING WHAT WE REQUIRE AND…

VERY UNDERSTANDING WHAT WE REQUIRE AND VERY EASY TO SUBMIT APPLICATION THANK YOU VERY MUCH 5 STARS

michelle chew

4 days ago

James has amazing communication skills…

James has amazing communication skills and made me feel at ease. I felt I could contact him with any queries and he always responded promptly. I would definately recommend Funding Circle if you are thinking about getting that extra help to build your business.

karolina kaminskaitė

4 days ago

Great

Custumer service was absolutely amazing! Mr Rashid helped me all the way through the documentation. Fast and secured!

karen

5 days ago

James was very clear and helpful with…

James was very clear and helpful with the whole process

robert mcculloch

5 days ago

Professional and friendly service…

Professional and friendly service ensuring I was kept up to date with the status of my application

steve

5 days ago

Waste of time

Went through the full process to be told they don't accept Mettle Business Bank Accounts (Part of the Natwest Group) as a 'form of business banking' despite using them for 2 years as a bank.. Waste of time.

rakesh gaurav

5 days ago

Rufus made it very easy for us to get…

Rufus made it very easy for us to get funds. Really simple and super easy.

michael davies

5 days ago

A good experience

There are a number of non bank loan providers operating in the SME space now and, having experienced a few of them, Funding Circle are certainly up there with the best. Application to funds took just 4 days and communication was clear and straightforward. My one issue is that they shouldn't really quote, for example, rates of 11.9% which by the time they have added their fees equate to a true rate of more like 20%. Even 20% is competitive, though, and one I anticipated and was quite happy with.

seamus keenan

5 days ago

Philip was the most helpful and nice…

Philip was the most helpful and nice lad to deal with

sonic stone

5 days ago

Greg Newton gave us a stellar service

Greg Newton gave us a stellar service, much appreciated!

dermot mcgivern

5 days ago

Clear instructions

Clear instructions. Friendly attitude. Went the Extra mile. Efficient but not pushy.

george wells

5 days ago

Excellent friendly supportive service.

Excellent friendly supportive service. Thank you George

tyrone barr

6 days ago

Originally skeptical but i was wrong!

Originally i was skeptical about approaching the funding circle for a loan. I had just assumed the rates would be horrible and the experience would be lacking. I could not have been more wrong! From making the initial application through to receiving the funds the process took less than 3 days to complete which was fantastic. We had a named individual - Henry to guide us through the paperwork side of things and really, the process could not have been simpler (far simpler than our bank!). All in all, i would not hesitate to use The Funding Circle again in the future for any financing needs.

martin rolfe

6 days ago

Absolute amateurs waisted my time my…

Absolute amateurs waisted my time my office staffs time after going to them for business expansion and then getting told no with no reason only that it could be 1 of 5 things. So they don't even no why.i don't know why I went to them again after the first time they done the same thing I actually went with my bank when I wanted to expand I only entertained these amateurs because I get calls emails all the time going to go with bank again however they might be receiving a bill from me for all the hours and paperwork that had to be done they are a perfectic company really don't know what they are doing so many bad reviews This is one of there responses Dear unknown unknown Thank you for applying for FlexiPay with Funding Circle. Unfortunately we were unable to approve your application on this occasion. As a result, any supplier payments you have requested will not be paid. We’re sorry we couldn’t help you on this occasion and hope we can again in the future. Kind regards The Funding Circle team

matthew

6 days ago

Swift & friendly process

The whole process was so swift and communication excellent. I was trying to get a bank overdraft which was a horrendous, long winded process. I was still waiting for an answer from bank after 2 weeks. So I called funding circle and had funds in account within a day!

patrick thursby

5 days ago

spam masters

weekly letters, via snail mail, trying to get me to buy their credit. total waste of paper and resources, how many thousands of letters a week.... Edit post reply. This company has shown no remorse for their wasteful and anti eco policy of just sending letters out to anyone who is a company director. Apparently it's my responsibility to remove my name from their self generated database of people that want to lend money to. Totally repulsive behaviour.

paul rogers

6 days ago

Helpful, fast and effective

Helpful, fast and effective. Luke was particularly good with comunication. He kept constant updates and streamlined the process with full transparency.

6 days ago

Speed and professionalism

simon crosby

6 days ago

Brilliant team, service and overall experience

The team at Funding Circle have been nothing but brilliant all the way through. They make the whole process very easy to follow and understand. Really happy with the service that I got, especially from Rashid who was just brilliant right the way through.

umran

6 days ago

Kept chasing me and marketing their…

Kept chasing me and marketing their services. I dont like loans debt or applying. Eventually I Considered maybe it's an option for a growth Injection and visible marketing. Two applications rejected for two seperate good companies all fulfilling criteria. Both rejected for unknown reasons. Credit searches against personal and company are recorded. It's annoying and just feels disingenuous.

robert mcmurray

6 days ago

Fast decision fund ready I good time…

Fast decision fund ready I good time easy to understand from start to finish

paul romaine

7 days ago

Excellent service from start to finish

Excellent service from start to finish. Sarah was an excellent advisor and helped the process to progress swiftly and easily. Thank you

taranjeet singh

7 days ago

Time

They take time more they says its quick fast

ivan bunjako

7 days ago

A reliable guy

customer

7 days ago

Top Service best experience ever

steve turner

7 days ago

HELPFUL THROUGHOUT We have recently worked with Sherry…

We have recently worked with Sherry Habib who has provided exceptional service. Sherry has kept us informed every step of the way and always available to answer any questions or queries we had.

lauren todd

7 days ago

This is my first loan with FC

This is my first loan with Funding Circle after it was recommended to me and I have found the support and service to be brilliant.

adrain jame-dyke

7 days ago

Thank you Sid…

An extremely smooth process from application to fruition….. mainly due to the support and help given to me by my dedicated customer service advisor Sid….. thank you Sid you’re a star.

r b

7 days ago

Piers was extremely helpful and…

Piers was extremely helpful and professional. Thoroughly recommend.

rick holland

7 days ago

Excellent service from start to finish

Excellent service from start to finish. Would highly recommend Sam and his team.

trevor foster

8 days ago

Growing from seed

With the initial application all was very straightforward, contact and information was always prompt, even at odd hours that suited me by email and telephone. This has assisted the company to the next stage of development.

judith

8 days ago

The contact and speed with dealing with…

The contact and speed with dealing with my request was fabulous . This is the 4th loan and always great service

g m duff

8 days ago

My Funding Circle Application.

David helped me make my journey through the application process easy. Offering advice when necessary. Thank you.

8 days ago

Business funding the easy way

We are growing our business successfully, but the process creates some cash flow pinch points. Having had an excellent experience with funding circle for a previous round of expansion, it was my natural go-to this time round. The process was completed with a simple online enquiry, followed by swift contact from our account manager Leone. She discussed our requirements to ensure both the sum and term were correct for our needs. She then guided us through the process and liaised with the underwriters. A few simple documents and the loan was agreed, and the funds released the following day. Our expectations were fully met, allowing us to focus on our core business rather than jumping through hoops to fund our growth.

s t

8 days ago

Disaster of a company

Disaster of a company. I invested a considerable amount with Funding Circle prior to Covid. They took an unprecedented decision to remove the ability for investors to cash-out by selling their loans on the marketplace. This was described as a short term option to stabilise the balance sheet during the pandemic. Years have now passed and there is still no option to fully withdraw invested funds by selling the loans on the marketplace. On top of this, the loans continue to be restructured for bad debt, which means it could be potentially up to 5 years before I see a full return. Other peer to peer firms in this space, including RateSetter, have sold their loan portfolios on to third parties, effectively buying out investors and returning their funds, why can Funding Circle not pursue this to release much needed funds to retail investors? On top of this, there were frequent issues with the Funding Circle app, preventing the withdrawal of funds. Incredibly their solution was to simply scrap the app, making it more difficult for users to withdraw funds.

nick

8 days ago

Excellent from start to finish

Isabella was excellent from start to finish. Communication was swift and effective throughout the process, with detailed guidance on what was required. She was friendly and patient with us as we took our time to ensure we had the right product for our needs. I've used Funding Circle three times now and each time they've made it straightforward for us to secure the finance needed to grow our business.

anthony dexter

9 days ago

Helpful and clear advice

Helpful and clear advice, quick efficient service.

latham

9 days ago

Convenient and fair

Convenient and fair James Hammond has been very helpful and very patience with me. Thank you

guang wu

11 days ago

Best company loan lenders

I was applied company loan with funding circle, the manager Sam was helpful walk throughout whole application process, I got the loan in 2 weeks . highly recommend

mr&mrs penny

11 days ago

A friendly and helpful advisor who kept…

A friendly and helpful advisor who kept in touch with us as our application was progressing. A paperword done online. Very quick turnaround. Thank you, we would recommend.

doubleswan transport ltd

11 days ago

Great service

Great service. Helpful team.

jamie partis

12 days ago

Great to do business with

Great to do business with. Had a few issues when I needed to sign the contract as I was away but Henry was on the ball and always found a solution. Working with Funding Circle has been an easy and pleasant experience.

pdbusinesses the highbury vale

12 days ago

Efficiency and great customer service

chris

12 days ago

Our account manager Isabella was…

Our account manager Isabella was marvelous but this process is much more difficult than it was in the past. Lots of additional information was required and interest rates have changed considerably - we are a returning customer and while last time was a 5 star experience, this time less so.

joncoles

12 days ago

Leone was great support throughout the…

Leone was great support throughout the process. Providing regular updates and guidance. Not 5 star due to pedantic requirements relating to completion of submitted forms

sue gazeley

12 days ago

Treated very well

Even though there were a few hiccups along the process, being kept informed was great. Isabella did a good job for us. We have used Funding Circle before and have always been treated very well.

kate everett

12 days ago

Oustanding support from start to…

Oustanding support from start to finish. I wish it was this easy with my bank. Thanks Funding Circle!

graeme young

12 days ago

Very quick and accurate responses

Very quick and accurate responses Ver good , efficient and quick communication from Leone

mr mohammed bussuruddy

12 days ago

The process was straightforward and…

The process was straightforward and simple. Very friendly approach.

kris england

12 days ago

Very personable experience

Very personable experience, with our friendly and helpful account manager constantly communicating.

janet phillips

12 days ago

Extremely helpful professional service.

jason cowan

13 days ago

Great service and quick response

Great service and quick response. the Account Manager Farhan Natha was excellent and made all experience run very smoothly

pamela gallagher

13 days ago

So easy to deal with Excellent personal service

So easy to deal with - Leone kept me fully updated of the process on a daily basis - very helpful & Professional, makes it so much easier having an allocated team member

zak

13 days ago

A thorough, professional and fluid service

A thorough, professional and fluid service. George Gibbon in particular was very helpful and we will be using Funding Circle again for our finance needs.

james

13 days ago

The process was simple and fast!

michael patton

13 days ago

Elena my account manger was very…

Elena my account manger was very helpful; She was easy to contact and kept in touch all the way through the process.

kathryn birch

13 days ago

Leone was very nice and helpful she…

Leone was very nice and helpful she went over and above for us at a difficult time.

neil graham

13 days ago

Working with Piers and Funding Circle…

Working with Piers and Funding Circle was easy and quick. There online application form was simple to complete.

adam yews

13 days ago

Funding circle have been great

Funding circle have been great, from the day of applying the funds were in my account just a few short days later, so far will definitely use again

elen morris

13 days ago

Had a loan with a helpful account…

Had a loan with a helpful account manager on the other end

christine

14 days ago

Great service

The process was very easy. Communication with my account manager Isabel was helpful and efficient. I was offered what I asked for and any questions I had were answered quickly.

katie elliott

14 days ago

Customer service is subpar

Customer service is subpar. Extremely condescending and unprofessional. All terms should be mentioned and explained, but not the case with Funding Circle. The loan process was good. This review is specifically for customer service. Not customer friendly.

lee w

14 days ago

Killian was very helpful and called…

Killian was very helpful and called back exactly when he said he would and chased up everything very very fast. Really efficient

matthew fretwell

14 days ago

Straight talking simple advice

susan walsh

14 days ago

Great to deal with

I've had a great experience with Funding Circle, they are exceptionally responsive, very thorough and really nice people.

lee watts

14 days ago

Fast! Patient! Detailed!

Terms were made clear. Agent was happy to adjust my terms several times whilst I was deciding. Money in the account 3 days after submitting contract.

laura t.

15 days ago

Transparent and trustworthy

The process and communication were great from the start to the end. I strongly recommend them for supporting business growth. Sam was very kind to explain everything patiently.

simon clark

15 days ago

Good fast service

martin

15 days ago

Swift transfer of funds once the rather…

Swift transfer of funds once the rather onerous Personal Guarantee process was completed. Funding Circle fee makes lower loans rather expensive.

shaun picken

15 days ago

Funding Circle excel again !!!!!!

I have used Funding Circle several times over the past few years and on each occasion the team have been great. They are so much quicker than my high street bank. Even though I have had my business account with HSBC for the past 20 years I still have to jump through hoops and wait weeks on end, just to get an appointment to speak with someone in relation to business funding. Funding Circle are on the end of the telephone whenever you need them and respond extremely quickly to any questions or requests. Jack Templeman has looked after me in relation to my most recent funding application and he has been great and provided me with updates on a regular basis.

matthew

15 days ago

A very simple Process

I have no complaints with how the process went. As a business I needed a short term fix, I had looked at a number of options (including my business bank) but they were all very long processes. This particular option was well organised and took less than a week to sort out. Communication was first class and almost daily up to the point of the funds bring released.

uk mats

15 days ago

Funding Circle offer a speedy solution…

Funding Circle offer a speedy solution to cashflow challenges caused by growth. They demonstrate a real world understanding of business issues and a genuine desire to help combined with good communications which means the process of application is relatively straightforward and quick. Excellent service. Particular credit to our account manager Jack Templeman - thank-you.

ryan throp

15 days ago

Excellent communication and…

Excellent communication and professional service. Thankyou

susan wynn

15 days ago

I found Doron very helpful and very…

I found Doron very helpful and very professional

mr glen phillips

16 days ago

Peirs understood my requirement

Peirs understood my requirement, took time to actually listen and respond promptly on every occasion. Deal done in 7 days.

luke kavanagh

16 days ago

The process was on the whole very quick…

The process was on the whole very quick which was part of the reason we placed the business with Funding Circle. The communication was also on point from Greg who was our contact throughout the process.

stephen

17 days ago

All communications were answered…

All communications were answered swiftly and professionally.

katy b

17 days ago

Excellent communication

Doron was very communicative, proactive and thorough in getting our business loan approved. It was a swift process. Thank you for your help!

martin brookes

17 days ago

Straight forward and quickly processed.

The process was so straight forward and I received the funds within a week from the first enquiry.

marian-bogdan sabu

18 days ago

Isabel was amazing

Isabel was amazing, very helpful and polite. Excellent service and everything worked well.

brevin baxter

19 days ago

Underwriters unable to issue a $50k…

Underwriters unable to issue a $50k loan to borrower with 770 credit score, no debt and 80k documented income. Agent waited 8 days to follow up, doesn't read emails and had no meaningful explanation after I spent 45 minutes chasing the company around on the phone to get ahold of them to get the status. Now I'm 8 days behind on looking for another loan company because these guys are only interested in following up with clients they can squeeze for money. Their internal departments don't even have the ability to transfer calls and the billing department (the only department you can get a human being on the phone with) doesn't even know the number for the sales department. Total ineptitude, honestly feel like I dodged a bullet here.

miss drake

19 days ago

Rufus made the process really easy to…

Rufus made the process really easy to understand and called me with any changes. Great service thank you.

stephen boyle

19 days ago

Junk mail

I moved abroad years ago and closed my Company yet I still get promotional mail delivered to a hoise I have not lived at for years. Only way to stop it is to call an 0800 number which I am not prepared to do from abroad.

andrew broom

19 days ago

Funding made easy.

From the moment I made the application I was lead through the process, with every detail explained to me in full. This gave me confidence and piece of mind. A great experience and journey. Thank you Rashid.

david brown

19 days ago

Elena was very helpful and the company…

Elena was very helpful and the company easy to deal with. Were able to provide the funding i needed in just a few days.

jps

19 days ago

Quick and simple process, and great support.

The online application process was quick and simple, and the support from the Account Executive on the telephone was proactive and really helpful. I would strongly recommend.

dc director

19 days ago

A straight forward & non complicated approach

Funding Circle and Greg our consultant made the whole process so straight forward and clear. Their non complicated approach won through. We could not recommend them highly enough. Thank you Greg and thank you Funding Circle!

zel

19 days ago

Please Stop with Junk Mail

Ok Funding Circle.... How can I get you to listen that neither I personally nor my company need funding? I am just tired of receiving your rubbish in plain or brown envelopes... Please stop with junk mail, thanks!

allan gray

20 days ago

I very much liked the service from…

I very much liked the service from Isabella, I was much less impressed with the processes this time. The compliance team were unnecessarily finicky, and some of the questions were duplicated between the due diligence and the initial application, making apppear that the compliance team had not actually checked the application properly. There were several mistakes in the preparations of the Personal Guarantee forms, resulting in duplication of effort, delays and having to repeat the entire application process. Sadly not as good as my previous two experiences.

binley woods approved used cars ltd

20 days ago

Loan Application

Good communication throughout the process

yasmeen yousaf

20 days ago

It's a very nervous time but Leone kept…

It's a very nervous time but Leone kept us fully informed at each stage and it made all the difference. Everything was dealt with so quickly and Leone responded straight away to any emails and surprisingly picked up the phone every time we rang a superstar definitely recommend.

heather

20 days ago

My account manger helped every step of…

My account manger helped every step of the way. His input was vital and saved me valuable time.

martyn parrett

20 days ago

David was extremely helpful

David was extremely helpful and professional and kept me informed at all times. There was a slight delay on funds arriving but I am sure was just the way the system works sometimes.

zac makris

20 days ago

They were fantastic from start to…

They were fantastic from start to finish , the first time I applied I was denied . As they need more information . Once they recieved everything they were able to help and guided me . They truly believe in helping small businesses grow . Which is rare in the world we live in. I'm glad we have funding companies like this that actually drive you and want to make a difference .

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