Funding Circle

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Company Information

  • Company Name:
    Funding Circle
  • Website Address:
  • FCA IP:
    635439
  • Business address:
    71 Queen Victoria Street, London, EC4V 4AY
  • Phone number:
    0800 048 8747

Funding Circle is a lender providing business loans to UK companies. A leader in small business lending, Funding Circle is dedicated to helping business owners to experience business success. This lending company was founded on the idea that the traditional bank loan system doesn’t function properly and doesn’t benefit hard working business owners looking to take advantage of opportunities that require capital.

APPLICATION REQUIREMENTS:

A credit check is run on businesses applying for funding with Funding Circle. Businesses need to meet some basic requirements regarding credit history. Also, businesses need to be established and be bringing in revenue every month in order to be approved for a business loan with Funding Circle.

LOAN AMOUNT AND CHARGES:

Those borrowing from Funding Circle can take advantage of loans ranging in amount from between £25,000 and £500,000. These loans can be taken out over a period of between one and five years. Interest fees charged on Funding Circle loans depend on the amount of money borrowed and the period of time over which the loan funds are borrowed. For a term of 12 months, interest charges vary from between 5.49 percent and 18.29 percent. For a longer loan term of 60 months, interest rates vary from between 10.49 percent and 18.29 percent.

PROCESS:

The process of applying starts when qualifying businesses submit an online application. In the application, business owners need to indicate how much money they are looking to borrow and the period of time over which they would like to borrow loan funds. Furthermore, they must fill out information indicating their monthly/annual income and their business’s history. Once the loan application is submitted, businesses will receive a decision quickly. Once a decision is received by the borrower, the business owner interested in borrowing funds can decide whether or not to agree to the loan terms. Once an agreement is submitted, loan funds should be transferred into the borrower’s banking account within a period of 14 days or less.

PAYMENT:

Repayments on Funding Circle loans are due on a monthly basis. These repayments can be automatically debited from a borrower’s account. Alternatively, borrowers can manually make payments by logging on to their Funding Circle account online. If desired, borrowers can pay off their loans early to save money on interest charges.

120 Reviews of Funding Circle have been submitted - read the latest 3 below

As the proprietor of a small but very busy company that specialises in tailor made gowns, I have to occasionally rely on small business loans. Up to now I have been using my bank for these loans but in recent years they have not been as convenient and competitive as I would like. I decided this time round to use one of the online loan companies instead and Funding Circle was one of the first to catch my eye and I really liked what they were offering with their loans. I chose them after doing a little bit of further research and I really don't think I could have found a more convenient and competitive business loan anywhere else. I may not need another loan for a while but this 1 year loan with Funding Circle is perfect for my small business and I'll be sure to keep them in mind in the future.

Review posted by Caroline Grant Gowns, Tunbridge Wells

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

For a simple, straightforward business loan we don't think you could go far wrong with Funding Circle. Certainly for us this is the ideal type of small business loan and now that we've had our first loan arranged and we are about to commence the loan repayment period we would just like to say a huge thank you to Funding Circle for the way in which they have handled our loan application and for the speed and efficiency of it. We thought we might be waiting a bit longer to get things finalised but it was all done and rubber stamped so to speak in less than a week. Excellent service from an excellent loan company.

Review posted by David Marshall & Associates, Hampstead

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

We've only ever used our bank for previous business loans but we're aware of the online business loans that are available and decided to try one for ourselves when this current business loan was needed. What a refreshing alternative to the traditional bank loan this has turned out to be. Getting such a quick decision on our loan application was really good because it saved us the anxious wait you normally get when waiting for a bank loan. Once we had the loan approved we were all fired up and ready to start making plans for a new project that wouldn't have been possible without this very convenient and affordable loan from Funding Circle. We might be new customers but we already know we are going to get on great with Funding Circle and hope this is the first of many affordable and competitive loans from them.

Review posted by P. Gibbons, Cirencester

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money