Home → Reviews →

Funding Circle Review


  • High-Borrowing Amounts
  • No repayment penalties
  • Efficient Customer Service


  • High Borrower Qualification Terms
  • Not available to all industries

Average Rating: 5

Visit site

Are you a small business owner in search of the right funds for it?

I might just have what you are looking for – the most suitable financial support you can get right now.

It comes none less but from a global finance lending platform by the name of Funding Circle.

In this Funding Circle review, I’m going to provide information about:

  • Their loans (Terms, Fees, and Repayments)
  • Requirements
  • Funding Circle reviews
  • Application process
  • Customer Service and Technical Support
  • Competitors
  • Pros and Cons
  • FAQs

Let’s begin by checking out some general information about Funding Circle.

Funding Circle Bio and History

Who are they? What do they do?

Funding Circle is a UK-based lending platform that connects small business owners in need of financial support directly with a network of financiers (individual and institutional).

The company has been in business for ten years now. It’s the product of 3 University-Oxford friends: Samir Desai, James Meekings, and Andrew Mullinger.

Where do they operate?

Apart from the UK, the company provides services to:

  • Germany,
  • The Netherlands,
  • and the USA.

What do they offer/do? How do they do it?

  • Funding Circle’s installment loans provide business owners a sum of cash upfront in exchange for a promise to repay the borrowed money, plus the fees.
  • What is interesting is that not only does Funding Circle operate in the UK, it does business with the USA as well. In the USA, Funding Circle offers only secured business loans. They require:
    – A personal guarantee
    – A lien of assets
  • Regarding fees and repayment penalties – Funding Circle doesn’t have any. There is just a one-time origination fee, which is from 3.49% to 6.99% of the loan. This depends on the (FICO score).

Is Funding Circle a good idea for your business?

Let’s go through some of Funding Circle’s verified reviews and find out.

Funding Circle Borrower Requirements, Terms, Fees, and Repayments

According to Funding Circle loans reviews, these are the borrower requirements, terms, and fees:

Feature Data
Minimum time in business Two years
Credit score required At least 660
Annual revenue required None
Borrowing amounts range From $50.000 – $500.000
Borrowing fee None
Origination (or any other) fee Origination fee: from 3.49% – 6.99%

Late fee: 5% of the missed payments

Funding time One business day to get approved

About 5+ days

Location requirements UK, USA (except Nevada), Germany, and the Netherlands
Bankruptcies No bankruptcies in the last seven years
Eligible industries Funding Circle works with all industries except those that have to do with: speculative real estate, nonprofits, weaponry, marihuana, gambling, and pornography.
Personal loan guarantee required Funding Circle asks for a personal guarantee from those business owners who have at least a 20% stake in the business.
Collateral Equipment, vehicles, accounts receivable, and inventory. No real estate properties.
APR From 11.29% – 30.12%

What about the pricing and the repayment?

2020 Funding Circle pricing model reviews are praised by many because of the no-prepayment penalties.

An advantage like this one enables you to pay off early and reduce your interest.

In addition to this, there are no borrowing fees. You will have a one-time loan origination fee. It could be 3.49%-6.99% of the total loan amount, and it depends on your FICO score.

And how does the repayment work?

  • Monthly Payback
  • The repayment consists of 2 things:
    – Principal amount
    – and Interest.

If you are late for your payment for 10 days without giving any explanations for it, 5% will be deducted along with the payment.

The repayment system is an ACH (automated clearing house).
That means it goes through the account from which the loan was distributed. If you want, you can change that, and the repayments can go through:
– Checks
– or Wire.

According to Funding Circle small business loan reviews, you can use their support page information and learn how to calculate your monthly payments with its loan calculator.

Application Process

Going through Funding Circle online reviews, I found out that you can follow a couple of steps to apply for a loan.

Check out the following:

  • Step 1 – Visit their web page: https://www.fundingcircle.com/uk/borrower/eligibility/loan-amount-and-term
  • Step 2 – Complete an initial online application to check whether you’re “pre-qualified.”
  • Step 3 – Funding Circle does a check-up of your credit score and the initial application.
  • Step 4 – After you are pre-approved, Funding Circle sends you a quote with an estimation of your interest rate.
  • Step 5 – A representative will reach out to discuss the loan options and answer your questions.
  • Step 6 – Provide additional information about your business that includes:
    – Business tax returns for the last two years
    – One year of personal tax return
    – Bank statements from the past six months
    – Business debt information
    The hard check that Funding Circle will do at this point may affect your credit score.
  • Step 7 – Afterwards, your application will go through underwriting.
  • Step 8 – They will send an offer. (It will include your interest rate and origination fee).

Finally, according to the 2020 Funding Circle review, if all is well with the offer, you’ll receive funding in a couple of days.

Customer Service and Technical Support

How can you reach Funding Circle?

Here are three ways to do so:

  • By phone – +1 (855) 849-1940
  • By mail – [email protected]
  • On Social Media (Twitter, Facebook, Instagram, LinkedIn, and Youtube)

According to Funding Circle small business loan reviews, once you’re assigned to a Funding Circle representative, that person will lead you through the whole process during your loan. So far, customers are delighted with the Customer Service they get.

But more on that in the next section.

Funding Circle Online Reviews

Now, let’s check out some Funding Circle Reviews and see what experiences people have had.

Let’s go through the positive and negative reviews based on verified customers.

Negative Reviews and Complaints

According to Funding Circle BBB reviews, the company has 42 reviews, out of which 15 are complaints closed in the last 12 months with the Better Business Bureau.

Let’s go through Funding Circle’s customer complaints:

  • High-Interest Rates
    It might be a little more expensive regarding the interest rates compared to bank loans.
  • Mismatches between sales and offers
    Sometimes the rates the people get don’t match what they receive.
  • Not suitable for new businesses
    Your business should be at least two years old.

Speaking in general, there is no company that doesn’t have some bad reviews, so all is good as long as those conflicts are resolved.

Positive Reviews and Testimonials

On the other hand, Funding Circle is BBB accredited and has an A+ rating. Additionally, the company has a 4.4 / 5 rating on Trustpilot.

Here is what people like about their services:

  • Easy application process
    The application process is straightforward.
  • Good customer service
    Funding Circle’s representatives are friendly, helpful and people seem satisfied with the support they provide.
  • Fast funding
    Transfers can be made in 1-3 business days, which is pretty quick.


Even though Funding Circle is at a high-rank position in the money lending world, many other alternatives work. Let’s not wait any longer and check them out:

Funding Circle vs. Kabbage
Funding Circle offers loans up to $500.000 to qualifying applicants, whereas Kabbage offers loans up to $250.000. Furthermore, Kabbage provides a line of credit rather than a one-time personal loan or a business loan.

Funding Circle vs. OnDeck
OnDeck might be a better option for short-term funding for some people because OnDeck offers up to $500.000 several days quicker than Funding Circle. Additionally, the starting APR for OnDeck business loans is lower than Funding Circle’s, and the repayment terms extend up to 3 years.

Pros and Cons

Let’s check out some of the pros and cons of Funding Circle.


  • High-Borrowing Amounts
  • Monthly Repayments
  • No repayment penalties
  • The low number of extra fees
  • Efficient Customer Service


  • High Borrower Qualification Terms
  • Financing is not available in some states
  • Not available to all industries


All in all, Funding Circle is a great source of funding for your business if you can qualify.

With a strong credit history and a well-established business, Funding Circle is the right place to turn to for financial support.

Although the application and approval process is longer than other online lenders, it is significantly shorter than applying for a loan in a bank.

Though banks might offer better rates, still, they can’t compare to Funding Circle’s quick funding time.

Funding Circles reviews have proven the company offers:

  • handy and consistent customer service
  • quick funding time
  • and great deals


  1. Is Funding Circle SBA approved?

Yes. Funding Circle is approved by the Small Business Administration (SBA).

2. Can my business get a loan if I have an active bankruptcy?

No. Even if you have declared bankruptcy in the past seven years before applying for the loan, you still won’t be able to get one.

3. What is the customer service availability?

You can reach Funding Circle via

  • phone,
  • email,
  • or through any of their social media accounts: Facebook, LinkedIn, Instagram, Twitter, and Youtube.

4. What is Funding Circle’s BBB rating? Is it accredited?

Funding Circle has an A+ BBB accreditation since 2013.

5. Does Funding Circle report to credit bureaus?

Funding Circle reports to both: Experian and Dun & Bradstreet for both on-time and late payments.