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Funding Circle Business Loans

in Business Loans from Funding Circle Business Loans

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Funding Circle Business Loans

Unaffiliated

in Business Loans from Funding Circle Business Loans

SuperMoney Net Recommendation Score +67%

SUPERMONEY NET RECOMMENDATION SCORE

+67%

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Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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7 users recommend
1 user is unsure
1 user doesn't recommend
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Highlights
Highlights
Community Rating Strongly recommended
Loan Amount $25,000 - $500,000
APR  (Fixed APR) 12.18% - 36%
Loan Term (Months) 6 - 60 months
Number of Reviews 9

Funding Circle Business Loans Review

Where does Funding Circle Business Loans do business?

Funding Circle Business Loans is a business financing offering by Funding Circle Business Loans, based in San Francisco, CA. Founded in 2010, Funding Circle Business Loans offers access to business loans in 48 states (and Washington, DC).

What are Funding Circle Business Loans’s rates?

Funding Circle Business Loans offers a fixed APR business financing product that ranges from 12.18% APR up to 36% APR.

Does Funding Circle Business Loans charge an origination fee?

Yes, Funding Circle Business Loans charges a loan origination fee of 5.99% of the loan amount. Funding Circle Business Loans deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Funding Circle Business Loans set on the purpose of the loan?

Funding Circle Business Loans considers loan 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

What types of business loans does Funding Circle Business Loans offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Funding Circle Business Loans provides access to the following business loan types:

  • Secured Term Loans

Does Funding Circle Business Loans charge prepayment fees?

No, Funding Circle Business Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Funding Circle Business Loans?

Loan amounts start at $25,000 and go up to $500,000.

What is the maximum loan term you can get with Funding Circle Business Loans?

Funding Circle Business Loans offers business loans with terms ranging from 6 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Funding Circle Business Loans?

Funding Circle Business Loans requires companies to be in business for at least 24 months. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 660 and up to 850 are eligible for Funding Circle Business Loans.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Funding Circle Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Funding Circle Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Government issued photo ID
  • Proof of identity

What is the estimated funding time for a business loan via Funding Circle Business Loans?

Funding Circle Business Loans can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.

Does Funding Circle Business Loans report your account activity to credit bureaus?

Funding Circle Business Loans reports your account activity to the following credit reporting agencies:

  • Experian

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

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Other Services by Funding Circle Business Loans

Availability

  Available in 48 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee  
Origination Fee (%) 5.99%
Credit Score Range 660 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Months in Business 24
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
Approval Speed 24 hours
Credit Bureau Reporting Experian
Funding Time Range 1 - 2 days
Loan Amount $25,000 - $500,000
APR (Fixed APR) 12.18% - 36%
Loan Term 6 - 60 months

Funding Circle Business Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+67%

-100% 0% +100%
No one recommends Everyone recommends

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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