Funding Circle Invoice Factoring Review

Funding Circle Invoice Factoring is offered by Funding Circle, a marketplace lending platform founded in 2010 and based in San Francisco, CA. Funding Circle Invoice Factoring is available in 48 states (and Washington, DC).

What APRs does Funding Circle Invoice Factoring offer?

The cost of accounts receivable financing is typically calculated as a percentage of the invoice value, which is charged monthly. Pricing varies widely depending on several factors, such as how long you it takes to repay the invoice advance.

Funding Circle has a factoring rate starting from 1.13%. This is a fee or charge based product with an estimated equivalent APR that ranges from 13%.

How often does Funding Circle Invoice Factoring process payments?

Funding Circle Invoice Factoring receives the payment through the Merchant's weekly invoice receivables, which means Funding Circle Invoice Factoring collect the payment through the merchant's customer invoices.

Does Funding Circle Invoice Factoring charge an origination fee?

Yes, Funding Circle Invoice Factoring charges a origination fee of 5.99% of the total amount advanced. Funding Circle Invoice Factoring deducts the fee directly from your merchant cash advance amount before disbursing merchant cash advance proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What type of invoice collection structure does Funding Circle Invoice Factoring offers?

What types of invoices does Funding Circle accept?

Funding Circle Invoice Factoring accepts the following invoice type when applying for accounts receivable financing.

• Business-to-customer invoices (B2C).

What trade credit terms does Funding Circle accept?

Funding Circle accepts the following trade credit term. Trade credit terms are usually expressed as Net D, where D stands for the numbers days after which payment of the invoice is expected.

• Net 10 days.
• Net 15 days.
• Net 30 days.
• Net 60 days.
• Net 90 days.

What is the estimated funding time?

Funding Circle Invoice Factoring can approve (or deny) an application within 24 hours and fund within 1 business day of approval.

What are the business financing requirements for Funding Circle Invoice Factoring?

To apply for Funding Circle Invoice Factoring, the borrower needs to provide the following business document:

• Business certificate
• Business license
• Business bank account

What limitations does Funding Circle Invoice Factoring set on the purpose of the loan?

Funding Circle Invoice Factoring considers accounts receivable financing applications for business purposes, such as:

• Business debt refinance
• Emergency repairs
• Equipment purchase
• Hiring
• Inventory
• Lease improvement
• Marketing
• New location
• Payroll
• Product or service expansion
• Technology investment
• Working capital