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Funding Circle


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23 User Reviews


Overall Score

LAST UPDATED: August 20th, 2021
Funding Circle is an online, global peer-to-peer lending marketplace founded in 2010 in San Francisco, California. 
The company believes in providing a simple application process, fast decisions, and white-glove service to business owners around the world. It has assisted tens of thousands of businesses across the United States, the United Kingdom, Germany, and the Netherlands. Funding Circle has invested over $12 billion in small businesses since its founding. 
Funding Circle is faster than a bank, giving borrowers access to funds in as little as one business day after the offer is accepted. 
Borrowers must be able to provide both personal and business collateral and show proof of consistent income. Credit score is a factor in business owner eligibility, but even prospective borrowers with poor credit may be considered for certain loan types. Keep in mind that the stronger the credit score, the more favorable the loan term and interest rate. 
The main cause for concern regarding Funding Circle is a pattern of unresolved poor reviews. 

Top Ranked Companies


The Good

  • Business Loan Variety 
  • Educational Resources
  • Overall Benefits

Business Loan Variety 

With one application, you gain access to multiple funding options across multiple lenders. All loan details are subject to approval based on your personal credit, revenue, time as an established business, and other factors. 

Small business loans from Funding Circle are typically used for inventory purchases, location expansion, debt consolidation, and payroll, but the sky is the limit depending on your loan type. 

Loan types include the following: 

SBA loan — SBA 7(a) loans come in amounts from $25,000 to $500,000 with terms up to 10 years. 

Term loan — Term loans range from $5,000 to $500,000 with term lengths from three months up to 10 years. 

Merchant cash advance (MCA) — You can get a cash advance from $5,000 to $400,000 with an anticipated duration of three to 18 months. 

Working capital — Working capital loans have term lengths between six and 18 months in amounts from $25,100 to $400,000 and a factor rate as low as 1.15. 

Line of credit — For the revolving line of credit, you can get an interest rate as low as 4.8% for credit lines from $6,000 to $250,000. 

Invoice factoring — You can receive 85-90% of the invoice amount upfront with a line up to $5 million with rates as low as 0.25% per week. 

Educational Resources

Funding Circle offers small business owners and prospective borrowers an online resource center on its corporate website that features detailed information about each loan type as well as FAQs for some loans. 

Borrowers can also speak with a loan specialist during normal business hours for more detailed information. Once approved, you are assigned a dedicated account manager for the duration of the loan. 

Overall Benefits

Overall benefits of Funding Circle include the following:

  • Fast approval (as soon as one day)
  • No prepayment penalties
  • Variable term lengths
  • Fixed interest rates
  • Loan use flexibility 

The Bad

  • Line of Credit Fees
  • Subject to Other Lender Conditions
  • Negative Funding Circle Reviews

Line of Credit Fees

If you finance a revolving line of credit through Funding Circle, be aware of the following fees: 

  • Maintenance fee to cover servicing and processing costs ($20 monthly payment
  • Draw fees for each time you tap into your line of credit (1.6% to 2.5%)
  • Late payment fee if you miss a payment after taking a draw (5% of the past-due amount

Subject to Other Lender Conditions

For some loans, Funding Circle partners with other lenders within a network to provide the full range of loan options to qualified borrowers. Therefore, the approval and funding times advertised on the company website may vary between lending partners.

On the positive side, a partner network offers flexibility: borrowers can choose loans directly from the lending partner and negotiate term lengths and monthly repayment amounts.

Negative Funding Circle Reviews 

Funding Circle has a significantly lower overall star review profile than our top-reviewed business loan companies. 

While some reviews online are positive about the company, most consumers are on our site have negative things to say and it does not appear that Funding Circle has resolved the issues brought up by past borrowers. 

Some concerns include communication with company representatives, high interest rates, and unforgiving loan terms. Some consumers also report that the company was not transparent with them initially regarding rates and fees for their small business loans. 


The Bottom Line

Online lender Funding Circle has some promising features as a peer-to-peer lending marketplace. These include a variety loan types available, a partner network of lenders with which to qualify for a loan offer, and a convenient six-minute application to start the process. 

However, the relatively low customer review profile is cause for concern, so we do not recommend this lender. There are several higher-ranked companies that have been deemed more trustworthy for a small business loan by consumers. 

View Best Business Loan Lenders

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23 Reviews

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Habituer Tacoma, WA

Terrible predatory and criminal lending practices. They will float payment checks purposefully in order to charge bogus interest and late fees. I started sending payments via B2B wells Fargo to prove when they cashed them. Caught them red handed on multiple occasions not posting my payments for several days after receiving cash from my bank. Then they would bill me for late fees. When COVID interest rates dropped they refused to lower rate. Then they refused to send payoff statements when we tried to get away from them. Total scumbags!

5 months ago

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Joshua McClendom Stockbridge, GA

Funding circle is horrible. I wouldn’t send my worst enemy to them. I had to beg the assigned loan officer Kylee L. to work on my file and to provide status updates, and when she did respond she was extremely rude and unprofessional. After two months of waiting they finally got my eTrans number from the SBA I was told I’d have my closing docs within 5-10 business days. Those 5-10 business days have come and gone and I have yet to receive any closing documents or any communication at all for that matter. Neither has anyone returned my my calls or emails. I have reached out to multiple people and departments seeing as how this is an urgent matter and business is currently surviving on my credit card usage. I stressed via email over and over again how desperately I needed this loan. In addition to everything else I am 3 days away from my eTrans number expiring with the Sba and I’m not sure how this will affect my chances of applying with a more responsive company. Please do NOT use this company. I am not writing this message out of anger. I am writing it bc I don’t want others to find themselves in my same conundrum.

9 months ago

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l bump Fort Lauderdale, FL

Justin at funding club tried to help me with an SBA loan. I had trouble with my first loan number and tried to find it with no help at all not even a suggestion from Justin as to how to find it. Finally asked a lawyer, got the number , submitted my application. They like pussies denied me because they thought I was a crook because I couldn't find my first SBA number. Good riddance. Got my loan elsewhere no hassles. Yucky place

11 months ago

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Texas Customer Austin, TX

Run Away Fast - Go to a traditional lending source. Our company borrowed some money to purchase a new venture. A few things you should be aware off. If you pay a lump sum into the account it does not reduce your monthly payments unlike a bank - they cut payments at the end of the period. Never could get a straight answer as how this affects the interest as the capital is paid down by the lump sum. And if you want an amortization schedule of your loan - GOOD LUCK getting that. Covid 19 assistance was dismal - they claimed to waive late fees but yet there the fees were on the statement. Getting them reversed was weeks of emails and requests eventually I had to resort to threatening them.I asked for 2 months break was approved for that,but they only did the first month. I even called to confirm the second month would be held. I received an email from Jennifer that she would take care of it, all she did was pass it on to a woman called Rebecca to deal with it and neither Jennifer nor Rebecca return calls or emails. Then things went from bad to worse when we decided to pay the loan off in full - it took 2 weeks to get a settlement. Calling is not an option all you get is excuses why you can't get a settlement. I finally told them that the only reason I can't get a settlement is because they are dragging it out to get more interest. Suddenly I got a settlement - incorrectly charged interest until the end of the month but I finally got a response. Still have not gotten a finalized settlement, so I paid in a bulk amount. At least the interest they generate is much less while we resolve the issue. In short, their customer service and accounting support is non existent, I even tried the collections department without any luck. The frustrations dealing with them is not worth it, next time I will use a bank. Funding Circle requested the exact same information as a bank would so you have no benefits here. Adding an UPDATE: After paying the loan and sending an ACH for the full amount on their payoff amount and receiving an email 2 days later stating that my account balance is $0 my saga is NOT over. Imagine my surprise getting a statement wanting more money - $22 plus interest. Now we have to argue again about $26 - yes I know its only $26 bu this is now the principal of the matter to me, especially as they refuse to address or acknowledge the $0 account email. So I reiterated - there has to be better lending options out there - find them and RUN from this company.

1 year ago

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Kim Oxford, OXF

Horrendous company. Was easy to get a loan in 2017. My business folded a year later. I worked long hours so I could still pay my debts but when I lost my job (like many others) at the start of the year I had to speak with my creditors. All were very understanding and helpful except for funding Circle who have been appalling. They wanted to put a legal document against my home (even though I didn’t even own a home when I took out the loan in 2017). They have harassed me and been awful. Everyone needs to complain about them. Don’t bother with trust pilot as they have a paid prescription with them and just remove any reviews I write that mention the house thing even though it is 100% true. How are these people getting off with it?

1 year ago

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Dustin & Stephanie Harrison Sturgis, SD

I am a small business owner. I started my business by putting all my personal items up for collateral. I needed to refinance so our Business had some credit and to pay off some high interest rate cards. I contacted Funding Circle 11/25/2018. Advised that I wanted $60000.00 to pay off that debt. They came back to me with an offer of a 5 yr loan at 27.04 interest. My payment would be $2058.31 and it would be automatically taken out monthly. I was also advised that after 6 months I would be able to refinance for a lower rate. They stated that they need to make sure I make my payments religiously to show creditworthiness. After putting all my numbers together and calculated all the interest I was currently paying, it was roughly 32% so I went along with the loan under the assumption that I could refinance for a lower interest rate in 6 months. I wanted to keep the payment the same but wanted to be about to pay it off sooner. In 6 months I called in and they said I was denied due to my credit score which was at a 650. I advised them that that was not part of the agreement. They said well that is our policy and I could try again in a month. I tried again in a month and they stated that since I just requested a refinance I had to wait another 6 months. So in November 2019 - 1 year of making insane payments and $1000+ going to interest of my 2058.00 payment I called in. They then stated that my debit to income ratio was off and if I wanted to refinance I would have to take out another $25000.00 loan. This was not part of our terms. They said sorry that the original rep misinformed me, in which I responded- I want the tape of our conversation going over the terms and they laughed at me and now as of March 16,2020 they refuse to take my phone calls. THIS COMPANY IS A FRAUD. THEY ARE NOT WANTING TO HELP SMALL BUSINESSES THEY WANT TO BLEED THEM DRY.

1 year ago

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george Pittston, PA

In the future I suggest your Underwriters try to learn the type of business they are dealing with, before making assumptions as to the business financials. If this Underwriter (Alec) understood that a "Commission Based" business does not show the same finances as a Merchant Model maybe he would ask more relevant question then what he did. Also the sales person (Zac) showed signs of unprofessional business dealings when trying to overtalk what I was asking. And from only 1 star reviews from both the Venture people and Small Business on Best Company now I see my mistake in applying with this company. What a bunch of Clowns! 25 years in Business, Credit Score of 750! Thank You Reply Reply all Forward

2 years ago

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biz01 New York, NY

I will share the Past working experience with Funding Circle US as a referral Partner .( Most unprofessional company among all the lenders and investors I am dealing with )This is how their system works, they will pay out 3 Points as commission Everytime a deal is funded . ( You can not charge any fees and give them additional funds with any other Merchant cash advance companies )I have funded 1.35 Million on their platform as a referral partner, so among funded deals, those merchant can get additional funds after 6 months with good payments in the future , based on all current lenders and investors I am dealing with , they will pay out renewal commissions regardless if the merchant approaches them or they approach merchants when it comes to extra funding .Here is what happens , Without any upfront communication, Without any notice upfront ,Without any discussion regarding the existing funded deals commission, funding circle sent out an email claiming your account has been deactivated stating your recent deals in our portal are out of credit criteria .This action really shows they SERIOUSLY have Poor management which also have been mentioned multiple times from their current or former employees on glassdoor .so I emailed them back asking the existing funded deals renewal commission , instead of emailing me back official confirmation regarding this matter, Chris called me up, here is what he explained to me on the phone : we will not market your existing funded customers, however, if they come back themselves, you will not get paid . this is Purely STEALING your existing customers, this phone call is not even an official confirmation , just some reckless explanation from Chris , I am definitely surprised by the standard they are conducting business here in US ( funding circle was originally founded in UK and UK Market generates majority revenue ) also Funding Circle ‘basically halved’ US lending volumes at the start of the year 2016 , see below article : Based on Chris’s explanation ,I do not really want to use this word, but they behavior show they are really Cheap in some level, with the 1.35 millions funded deals, just because of the renewal commission, they WON’T market to them to see if they are in need or qualified for extra funds ,this is how they Claim their mission is to Help small business ?And when chris say we won’t market to your existing funded deals, how should we TRUST you ? based on so many reviews online regarding funding circle, Funding circle keeps mailing or calling the business owners even they tell you NOT to ? If I know funding circle only pays out commission one time , I will not even refer you any business from the very beginning , because any other lenders and investors know how to conduct business MORE professionally with a very Clear and transparent system .

3 years ago

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Proket0r 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.

5 years ago

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Jade ,

These guys are unresponsive, unreliable and incompetent. They do not respond to questions and their process makes no sense. Very disappointed to have wasted so much time with trying to apply for a ppp with them. What a mess.

10 months ago

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Dr. T ,

Applied for 2nd round of PPP funding for my 10+ yr old private practice. Was declined on erroneous reasons of inconsistencies. Seems they're very "selective" with who they fund. I thought PPP was an equal opportunity program.

11 months ago

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Angel Naranjo Southold, NY

They are actually not a lender, so very challenging to deal with them when a forbearance or deferment of payment such as the case with COVID. And since their client-facing systems don't speak seamlessly to each other and there's no real Dashboard to monitor payments, etc. it's gut-wrenching every time one has to explain the actions taken on a prior call. Their lack of transparency about the support process is troubling. Again, avoid unless you're a lender who doesn't qualify for traditional lending.

1 year ago

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Tom Ovidiu Moldovan Bailey, CO

They completely wasted my time. They don't really know what they are doing when evaluating credit, especially when it comes to new companies. You're better off dealing with a local bank or with American Express. One rep (Arian - I see not the first complaint) hang up on me, one other told me it will take them 6 (six) weeks to simply remove my company from their mailing lists. That tells you something as well. I hope their founders in Britain will order some training to help them learn how to use a delete button.

2 years ago

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Lynne Street

I have been trying to sell my loan parts with Funding Circle for over a year now. There is no transparency and when I write to them asking them what is happening they respond with vague emails which tell me nothing. To say I am frustrated is an extreme understatement. I would advise anyone looking to invest in P2P companies to give Funding Circle a very wide berth.

2 years ago

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Dave Perry

If there was a zero I would enter this. We are up to date with payments, yet they keep calling requesting updates on our business. I was told by an accountant to report them to the FCA for harrassment . They dont care when they phone and interrupt business meetings stating the calls are urgent and must speak to the business owners. I cant wait to get shot of them. If you have a business plan sit down with your local bank and dont do what we did and take a loan with FC, because you will regret it. MP, Worcester UK

2 years ago

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Dave Lawton

Funding Circle. This is a company who wants a non risk company. This is great in a perfect world. Anyone who has a great idea this can’t be for you . I’ve just raised £2.5 million from talking to many People about my project. This is done. Anyway funding Circle want guarantees from all roads. If you have a idea talk to other people, not FUNDING CIRCLE

2 years ago

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Mr JT Dacula, GA

The bottom line is, only attempt to do business with this company if you really DON'T NEED the money! Another website said one of their CONS was, "stringent borrower requirements". That is a gross understatement. I am a business owner that has been in business for more than 15 years and have ample cashflow for the loan I requested. Loan was "Declined". The Customer Service sucked as well as the communication. Will never attempt a Funding Circle loan again.

3 years ago

Funding Circle Logo

Reply from Funding Circle

Thanks for reaching out! We're sorry to hear you were disappointed with our process and customer service. We do require specific supporting documentation in order to most effectively underwrite the loan applications we receive. While we are always hopeful we'll be able to fully approve an offer, sometimes there are instances where this is not the case. We are always striving to provide an excellent customer experience and apologize this was not what you encountered. We would greatly appreciate any further details you would be able to provide in order for us to investigate. Please feel free to email us at . Sincerely, The Funding Circle Team

Nov. 20th, 2018

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Byron Wolfe 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.

4 years ago

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sean Kansas City, MO

Worst company I have ever dealt with. Underwriting has no clue nor does management. If you have to deal with Branden M or Arian A RUN!! They have no clue what the other is doing and try to talk over you. HORRIBLE!! I own may small business and customer service is highest priority for mine. Funding Circle does not appreciate any customer

2 years ago

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James W Robertson Cedar Park, TX

Represenative never responded when I had a question. Another team reached out and said they were totally inflexible and incapable to adjust to shifting financial conditions. Several lawyers and other funding groups warned me but I didn't listen. Funding Circle is like the MOB and they are proud of that distinction.

2 years ago

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Sam Norton Atlanta, GA

They required 6months of bank statements, pulled my credit, assured me I was qualified and it’s only going through underwriting. But they called and denied me and didn’t even jab the decency to give me a reason for the denial. DONT SHARE YOUR PERSONAL OR BUSINESS INFO WITH THIS COMPANY EVER!!!

4 years ago

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Posty Surrey, SRY

This is an extremely aggresive company both in their marketing and their collections if you fall behind. To be avoided.

5 months ago

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Cranky Guy West Warwick, RI


2 years ago