
Funding Circle summary
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
Editorial score
Online experience
Has learning resources, access to rates, mobile app
Customer services and support
Multiple ways of reaching lender, wide range of hours
Variety of loan types
Offers all loan types*
Loan amount range
Loan amount up to $500K
Eligibility
Loans only available to excellent credit, high-revenue businesses
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 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.