Funding Circle is an international loan marketplace that specializes in small business loans. The San Francisco- based company has processed over $700 million in loans to over 5,000 small business, since it was launched in 2010. It is registered with the BBB and has an A rating.

How Does Funding Circle Work?

Funding Circle allows accredited investors and institutions to lend money directly to small businesses without the need of a bank. The loans are underwritten by Funding Circle loan specialists that assign each borrower a risk score ranging from A+ to C. Loans are secured by the business assets and a personal guarantee from the primary owners. If investors decide to fully fund a business' loan before the 14-day limit, the funds can be sent within a few days. Usually funding is processed within a week of applying.

What Are Funding Circle's Interest Rates?

Interest rates range from 5.49% to 36% APR depending on a business' cash flow, credit scores and customer reviews.

How Much Money Can I Borrow from Funding Circle?

Funding Circle loans range from $25,000 to $500,000 and have terms of 2 to 5 years. A $150,000 loan with a three-year term and a 9.99% interest rate has monthly payments of $4,839. The same loan with an interest rate of 18.49% has monthly payments of $5,460.

Which States Does Funding Circle Operate In?

Funding Circle has lenders in all 50 states.

What Is the Funding Circle Application Process Like?

The application process is entirely online. The first step is to check eligibility by filling an application form, which takes around 10 minutes. Borrowers must agree to Funding Circle performing a credit check and within a few hours a loan specialist will call to request specific documents to verify the information provided. To qualify businesses must submit business tax returns, personal tax returns, bank statements and income statements. Borrowers usually receive a reply within 2 days of submitting a loan application. Once a loan is pre-approved and funded by investors, the money is deposited within a week.

How Is Funding Circle Better than Other Lenders?

Funding Circle offers competitive rates and repayment terms of up to 60 months. There are no hidden fees or prepayment penalties to worry about; and because it isn't a bank the application process is much faster and easier to navigate. The entire transaction can be performed entirely online and over the phone. Funding Circle uses automated underwriting program, which allow it to process lower loan amounts that are not financially viable for banks.

  • Loan Amount
    $25000 - $500000
  • APR
    5.5% - 23%
  • Max Loan Term (Months)
  • Credit Score Range
    560 - 850
  • Minimum Revenue
  • Minimum Years in Business
  • No Prepayment Fee
  • Origination Fee
    Starting at 0.99%
  • Business Loan Type
    • Secured Term Loan
    • Line Of Credit
  • Intended Use of Funds
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Institution Type
    • Direct Lender
    • Other
  • Approval Speed (Hours)
  • Funding Time
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0 votes

The application was processed and completed within a week even though I submitted some of the required paperwork incorrectly. I was kept fully informed all through the process by my account manager. All in all a superb service which has enabled us to proceed faster than expected with our plans.

0 votes

From start to completion all staff of Funding Circle where detailed and very helpful. Loan facilities granted quickly and enabled my business to develop. No hesitations in recommending Funding Circle to anyone.

0 votes

I own a small business, and have gotten loans before. Some applications have been more successful than others, while a few loan companies have caused me nothing but dread. From start to finish, I'd say Lending Circle was by far the easiest. The application process was easy because I kept in contact with the customer service reps, and they helped me through it. I got the money within a week, and the follow up for payments have been positive. Great company.

0 votes

I've never experienced such amazing customer service from a small business lender. The manager assigned to my account was awesome, and she was so extremely helpful through the entire process. I'd had bad experiences with other lenders, so when I came to Funding Circle, I was extremely cautious. My account manager understood and really "held my hand" throughout the entire process. The experience was great.

0 votes

Funding Circle's interest rates are ridiculous! I need a loan for my small business in order to expand with more employees, but this is crazy. I was approved for a loan through them with 18% interest! After delving a little deeper into Funding Circle's practices, I'd found that up to 20% interest was the norm for them. My business and credit are in good standing, and I refuse to pay that much for interest. High interest rates are usually meant for those who cannot get loans anywhere else, but I ... can, and I will. Check out other interest rates before getting a loan through Funding Circle. More Less

0 votes

I recently took over a call center from a family friend, and my business is customer service. Because of this, I place an enormous value in the customer service I receive from the people and companies I do business with. Yes, the interest rates are higher than I've seen other places, but I can easily overlook this. The people you work with at Funding Circle seem to have customer service in their blood, and I'd highly recommend them for your small business loans.

0 votes

The online application was great! The website is so easy to use, and the application is easier. It guides you throughout the process, so you never feel lost. Taking out a loan for your business can be a painful process, but Funding Circle made it really easy. It was very upfront and straightforward, and I quickly received the funding I needed. The interest rate I received of 7% is fairly average for my business size and the kind of loan I was getting, so I was happy with that, too.

0 votes

I've had a pretty good experience with Funding Circle so far. Compared to other lenders I've used, the responses to questions I've asked have been quick and thorough. It's great to have people actually there to address your concerns, instead of dealing with them. The customer service here is great, and I haven't run into any issues so far. The interest on my loan is pretty reasonable, in my opinion, and the payments are feasible for my company to make on a monthly basis.

0 votes

I've struggled in the past obtaining a loan for my small business. I've gone to other lending companies - direct lenders and peer to peer lenders - and have had issues with most of them. If a company states they cater to small businesses, why do they make it so difficult for the owner to take out a loan? For the first time, Funding Circle provided a comprehensive and thorough guide to the requirements and throughout the entire process. It was so easy, and I wish I wouldn't known about ... them before. I will use Funding Circle when I need a loan again. More Less

0 votes

I've gotten tons of loans through banking institutions in the past, but nothing has ever compared to Funding Circle. They really provide a customized loan for small businesses, and focus on which lender would work best for you. I was able to be connected with a lender who really offered the type of loan I needed. I was able to control my interest rates, length of payments, and various other things. This control made the process easier on me, and I'd definitely recommend Funding Circle.

0 votes

Now that I've successfully gotten a loan with Funding Circle for my custom window coverings company, I am never going to go back to my bank for money again. They were able to shop around for a loan that fit my needs within minutes! The application process took less time than I'd be waiting for my banker.

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