Funding Circle


Overall Score

2 User Reviews

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Funding Circle is an online peer-to-peer lending marketplace founded in 2010 in San Francisco, California. The company has assisted over 15,000 businesses globally with more than $2 billion in small business loans. The company offers small business loans up to $500,000 with fast approval times and funding within ten days. The main complaints from customers involve too many emails received by the company.

Typical Funding Circle Borrowers

Typical borrowers through Funding Circle have been in business for at least three years and have good to excellent credit histories. Small business owners also should not have any bankruptcies on record within the last seven years. Borrowers must be able to provide both personal and business collateral and show proof of consistent income. Startup companies and business owners with bad credit will want to consider alternative lending options.

Best Uses

Small business loans from Funding Circle are typically used for inventory purchases, location expansion, debt refinancing, and payroll.

Minimum Qualifications

  • Two Years in Business
  • Personal and Business Collateral Required
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The Good

  • Transparent requirements
  • Resource center

Pros of Funding Circle Small Business Loans

  • Fast Approval
  • Transparent Rates and Fees
  • No Prepayment Penalties
  • Secured Loans Up To $500,000
  • Variable Term Lengths From One to Five Years
  • Fixed Interest Rates

Transparent Application Requirements

Funding Circle fully discloses its entire small business loan application requirements and fees on its corporate website. Small business owners can apply directly with lenders for the term length and exact amount needed. The secured loans can be used for a variety of purposes and feature low monthly payments with fixed interest rates. There are no penalties for paying off loans early.

Resource Center

Funding Circle offers small business owners an online resource center on its corporate website that features educational articles and financing tips from entrepreneurs. The website also features a FAQ section that answers commonly asked questions on loans through affiliated investors. Borrowers can also speak with loan specialists during normal business hours for more detailed information.

The Bad

  • High interest rates and fees
  • Time to funding
  • Negative customer reviews

High Interest Rates and Fees

Interest rates typically range from 5.49 to 27.8 percent, although in some cases rates may be even higher. Funding Circle charges origination fees of 3.99 percent. There is also a ten percent late fee charge on missed monthly payments. Funding Circle also charges a $35 non-sufficient funds fee when applicable.

Time to Funding

Funding Circle takes up to ten days to transfer funds and complete the application process. Many similar competitors are able to approval applications immediately and transfer funds in one to three days for most loans.

Negative Customer Reviews

While most reviews online are positive about the company, some consumers report difficulty reaching a customer service representative and receiving too many emails. Some consumers also report that the company was not transparent with them initially regarding rates and fees for their small business loans.

Compare to the top rated business loan companies

The Bottom Line

Funding Circle is an online peer-to-peer lending marketplace that offers secured loans up to $500,000 for small to medium-sized business owners. Small business owners applying for loans must have great credit to avoid high interest rates and the time to funding is longer than similar competitors. However, borrowers can choose loans directly from investors and negotiate term lengths and amounts.

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User Reviews


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  • 0

    April 18th, 2017 Clarksville, TN

    Waste of time! They pulled my credit and dropped it 32 points after requesting a ton of my business as well as personal financials. I had an 810 credit score before and nine (9) years in business CLEARLY meeting the guidelines. They turned me down with this as an answer, " Unfortunately Powersports Dealership does not meet the current credit criteria required to allow us to extend a credit offer." and they KNEW my business was a power sports business WAY before I submitted countless documents and financials. AVOID this company.

  • 0

    December 7th, 2016 Colton, CA

    Today I receive a call at 9:17AM again from (302) 464-5356 AGAIN. It's a bogus call about "GETTING BUSINESS FUNDING NOW". Yesterday I pressed 9 to be removed. Today, I decided to speak with someone, HUGE MISTAKE -- I ask who they are and what they want. The sales rep continues on his 'Boiler Room Sales Script' asking if I need cash now, blah blah blah. I asked where they were calling from and he said Funding Circle in California. I was upset, I told him I was already removed and to remove me from this list as they have been bugging me or I'll file an FTC complaint, he said "Go ahead, file a complaint. You won't waste the time, do it. Go for it, just do it!" I asked to speak with his manager, he said that "His name is Sam and he is the OWNER, and just DO IT! GO FOR IT!" So, I decided to take his advice and that is what I did. Although, I did try to speak with somebody at the company first - It seems to just be a loop of voicemails. I google mapped the address and it does not look like a FINANCIAL SERVICES office, it looks more like an apartment building. I'm truly scared that somebody like this is out there selling financial services over the phone. I could only imagine the type of loan they are 'helping you' with. Today, because of SAM I will post reviews everywhere I can find - in effort to protect my fellow citizens against shady business dealings. Thank You.