Last Updated: 06/21/2025
SuperMoney User Recommendation Score +80
Strongly recommended15 total votes
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Highlights
Community Rating
Strongly recommended
Amount Range
$25,000 - $500,000
APR (Fixed APR)
4.99% - 38%(Verified 06/21/2024)
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Loan Term (Months)
6 - 84
Number of Reviews
Funding Circle Business Loans Review
Funding circle is a business financing offering by Funding Circle, based in Denver, CO. Founded in 2010, Funding Circle offers access to small business loans in 48 states (and Washington, DC).
Funding circle FAQ
What are Funding circle rates?
Funding circle offers a fixed APR business financing product that ranges from 4.99% APR up to 38% APR.
Does Funding circle charge an origination fee?
Yes, Funding circle charges a loan origination fee of 5.99% of the business loan amount . Funding circle deducts the fee directly from your business loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
Does Funding circle charge prepayment fees?
No, Funding circle does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.
How much can you borrow from Funding circle?
Business loan amounts start at $25,000 and go up to $500,000.
What is the maximum business loan term you can get with Funding circle?
Funding circle offers small business loans with terms ranging from 6 to 84 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 must have a minimum annual revenue of $500,000 to be considered.
Applicants with a credit score of at least 660 and up to 850 may be eligible for Funding Circle Business Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher. U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Funding Circle Business Loans.
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
What is the estimated funding time for a business loan via Funding circle?
Funding circle can fund small business loans within 2 business days.
Does Funding Circle Business Loans report your account activity to credit bureaus?
Yes, Funding Circle Business Loans 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.
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Message from Funding circle
Message from our editor
What We Love About Funding Circle
Funding Circle is not a bank. It is a marketplace that matches accredited and institutional investors with businesses that want to borrow money in order to grow their operations.
The main advantages of Funding Circle over traditional lenders are speed, flexibility, and transparency. Applying for a loan takes just 10 minutes, and the money can be in your bank account within 10 days.
Because Funding Circle is not a bank, it is not restricted by rigid policies and banking regulations. This means it can be more flexible when assessing the eligibility of borrowers. The interest rates it charges borrowers are not much different from those a business might get from a traditional bank, but the chances of approval or much better with Funding Circle.
What Can Funding Circle Do Better?
Funding Circle’s rates are competitive but not necessarily better than that of a traditional bank. We would love to see Funding Circle take the next step in offering loans that beat traditional banks' rates.
When combined with their quick and easy approval process, Funding Circle would have a distinct advantage over traditional banks.
Funding Circle’s Background
In 2013, Sam Hodges, Co-Founder of Funding Circle, owned a chain of fitness gyms but couldn’t find a lender to help his business expand. Out of frustration after receiving his 96th small business loan rejection letter, he merged his business with Funding Circle, which had found early success in the UK.
Today, Funding Circle is one of the world’s leading online marketplace for small business loans. It has lent billions to small businesses in the UK and US since it was founded in 2010 and continues to help small business owners today.
The Verdict
Small business owners who are frustrated with the traditional process of applying for a small business loan from a bank will enjoy the quick and easy process of applying with Funding Circle. Their chances of approval will increase as a result of Funding Circle’s marketplace in which institutions compete to offer loans at the best possible rates.
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