Funding Circle Review

By: Kevin Mercadante‚Äč


Service Profile

Funding Circle has lent to more than 10,000 businesses around the world and has attracted 40,000 investors to its highly-successful model. As a business, you can apply for loans of up to $500,000 and pay back 5.49% to 27.79% APR. 

You can apply within 10 minutes online and expect your funding to be paid within 10 days of your approval. Approval is a relatively fast process, often made within 72 hours of application. Your loans must be repaid within 60 months, along with an origination fee between 1.49%-4.99% and potential 10% late payment fees.

As far as security concerns, Finding Circle provides blanket UCC filing and requires a Personal Guarantee (for any partner owning 20% or more of the business). 

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Business Loan Features

  • 12 – 60 months repayment terms
  • $25,000 - $500,000 limit
  • 5.49% - 27.79% APR
  • Minimum 620 FICO score
  • Approval within minutes
  • Funding within 7-10 days
  • No prepayment penalties
  • No teaser rates or hidden fees


Loan Application Information and Requirements 

You need to tick a few basic boxes to apply for a Funding Circle loan; being 18 years of old and a U.S resident first and foremost. You will also notice during your application that favour is lent to more established businesses, with Ltd or LLC more successful to win funds.

Additional requirements for getting approval for a business loan from Funding Circle include:

  • 620 FICO score
  • 2 years in operations history
  • No personal or commercial bankruptcies in past 7 years
  • No history of felonies or financial criminal activity
  • No sole proprietorships or non-profits

Further documentation required for application:

  • Business tax returns: 2 years
  • Personal tax returns: 1 year
  • Business bank statements: 6 months
  • Business debt worksheet

As for the application, you can submit all of your information within 10 minutes and expect funding within 14 days. You’ll get your own dedicated account manager and underwriter; offering a more personal, accessible and negotiable loan product. The information that you’re going to have to provide consists of your own personal details, your company eligibility (years in business, FICO score,  etc.) and certifications.

Repayment Terms

During your application, you can select repayment terms between 12 – 60 months. APR will fluctuate based on your repayment length, from 5.49% - 27.79%. Origination fee is 1.49% but can rise to 4.99% if you arrive at Funding Circle through a referrer. Late payments will cost you 10% of the payment itself and there is a $35 non-sufficient funds fee. You can get approved within minutes, your funding can be paid within a fortnight and your first payment will be due within the month.

Help & Support

You can get in touch with Funding Circle via e-mail or phone, along with visiting the corporate offices in San Francisco or London. Whilst not a direct form of customer support, you can contact the company through their Facebook and Twitter. We had to get hold of Funding Circle to double-check some figures when writing this review – and we had an e-mail response within 16 hours and it was a first-call resolution to our query.


Funding Circle is one of the most successful business P2P loan providers on both sides of the Atlantic. Having already fulfilled almost $1bn in loans, to great praise from WSJ, New York Times and more; it’s easy to see that this Atlanta-based provider is one of the very best. With great flexibility on repayment lengths, generally low APR and more intelligent decision making; Funding Circle offers a lifeline to every business in the United States.

Company Profile

Based in London but operating in both the United Kingdom and United States, Funding Circle is one of the pioneering peer-to-peer lending platforms. Founded in 2010 and offering the very first P2P business loans in the UK, Funding Circle has since gone international; fulfilling almost $1bn in loans. 

The U.S arm of Funding Circle was founded by two small business owners who had experienced the difficulty of trying to earn a business loan through traditional channels. Funding Circle aims to circumvent that, re-inventing the lending system along the way and allowing small businesses access to the capital that they need and deserve.

Physical Address

Funding Circle

747 Front St., 4th Floor

San Francisco, CA 94111

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  About Kevin Mercadante

 Kevin Mercadante is a freelance professional personal finance blogger,
 and the owner of his own personal finance blog, He
 has extensive backgrounds in both accounting and the mortgage industry.
 Follow Kevin on Google+.


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