Last Updated: 04/18/2025
Funding Circle Business Line of Credit
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Last Updated: 04/18/2025
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Highlights
APR (Variable APR)
Starting at 10.99%(Verified 06/21/2024)
Disclaimer popup with additional information
Credit Score Range
740 - 850
Amount Range
$6,000 - $100,000
Funding Circle Business Line of Credit Review
Funding Circle Business Line of Credit is offered by Funding Circle, a marketplace lending platform founded in 2010 and based in Denver, CO. Funding Circle are available in states.
Funding Circle Business Line of Credit FAQ
What APRs does Funding Circle Business Line of Credit offer?
Funding Circle Business Line of Credit offers a variable APR that starts at 10.99% APR.
Does Funding Circle Business Line of Credit charge an origination fee?
Yes, Funding Circle Business Line of Credit charges an origination fee of 5.99% of the line of credit amount. Funding Circle Business Line of Credit deducts the fee directly from your line of credit amount before disbursing the fund, so make sure you take this fee into account when deciding how much you need to borrow.
Does Funding Circle Business Line of Credit charge prepayment fees?
No, Funding Circle Business Line of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit balance off early.
How much can you borrow from Funding Circle Business Line of Credit?
Line of credit amounts start at $6,000 and go up to $100,000.
What is the maximum term you can get with Funding Circle Business Line of Credit?
Funding Circle Business Line of Credit offers business lines of credit with terms ranging from 6 to 12 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.
What do you need to qualify for Funding Circle Business Line of Credit?
Applicants with a credit score of at least 740 and up to 850 may be eligible for Funding Circle Business Line of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Funding Circle Business Line of Credit does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders with a U.S. tax identification number are eligible to apply for the services offered by Funding Circle Business Line of Credit.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Bank account information
- Business formation documents
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
- U.S. tax identification number
What is the estimated funding time for the Funding Circle Business Line of Credit?
Funding Circle Business Line of Credit can fund business lines of credit within 3 business days of approval.
What are the business financing requirements for Funding Circle Business Line of Credit?
To apply for Funding Circle Business Line of Credit, the applicant needs to provide the following documentation:
- Business certificate.
- Business license
- Business bank account
Does Funding Circle Business Line of Credit report your account activity to credit bureaus?
Yes, Funding Circle Business Line of Credit reports to the following credit bureau:
- Experian
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Funding Circle perform a hard credit pull?
Yes, Funding Circle performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
What is the minimum percentage of business ownership that Funding Circle Business Line of Credit requirs from the applicant?
To apply for Funding Circle Business Line of Credit, the applicant needs to have at least 20% of business ownership. If you don't have enough ownership in the company, your application will most likely be denied from the Funding Circle.
What types of business lines of credit does Funding Circle offer?
Funding Circle only offers unsecured lines of credit.
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Message from Funding Circle
Hours of Operation
Sunday
Closed
Monday
6:00AM - 5:00PM
Tuesday
6:00AM - 5:00PM
Wednesday
6:00AM - 5:00PM
Thursday
6:00AM - 5:00PM
Friday
6:00AM - 5:00PM
Saturday
Closed