Funding Circle Business Loans

Funding Circle Business Loans logo
  • Funding Circle offers a range of finance products to businesses. Find out what options are available, whether your business might be eligible, and how to apply.
See Deal Browse Funding Circle Business Loans FAQs

Compare Funding Circle Business Loans

  • Funding Circle Line of Credit logo

    Funding Circle Line of Credit

    • Spread business costs over 3 months – including HMRC or other bills, purchases, supplier invoices, payroll and more
    • Free to set up and only pay when you use it – 0% interest, flat 4.5% fee on each bill or invoice
    • Apply online in minutes, instant decision – rated ‘Excellent’ on TrustPilot
    • Minimum Turnover
      £65,000 p.a.
    • Available Amounts
      £2,000 to £250,000
    • Available Terms
      No min/max terms
    See Deal + More info
  • Funding Circle Short Term Business Loans logo

    Funding Circle Short Term Business Loans

    • Flexible, short-term business loans from £10,000 to £50,000 to help you manage cash flow
    • Only pay interest on the time you borrow — no fees and you can settle early at any time
    • 12 to 24 month terms — ideal for bridging gaps, boosting cash flow, buying stock and other short-term needs
    • Minimum Turnover
      £25,000 p.a.
    • Available Amounts
      £10,000 to £50,000
    • Available Terms
      1 to 2 years
    See Deal + More info
  • Funding Circle Unsecured Loans logo
    Peer To Peer

    Funding Circle Unsecured Loans

    • Competitive fixed-rate, unsecured business loans from £10,000 to £500,000 on terms from 6 months to 6 years
    • Perfect for business expansion, buying new equipment, hiring staff or managing cash flow
    • Get a decision in as little as 1 hour and funds typically in 48 hours
    • Minimum Turnover
      £25,000 p.a.
    • Available Amounts
      £10,000 to £500,000
    • Available Terms
      6 months to 6 years
    See Deal + More info

Compare similar products from other providers

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    Nationwide Finance Business Finance

    • Nationwide Finance help 35,000 businesses get finance each year
    • Direct funder - not a broker
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    • Minimum Turnover
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      £8,000 to £500,000
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  • Tide logo
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    Tide

    • Tide works with a number of partners who offer a range of flexible business funding solutions
    • They will run pre-eligibility checks, without affecting your credit score, to show you credit options tailored to your business
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    • Minimum Turnover
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    • YOUR BUSINESS MUST BE A LIMITED COMPANY WITH 6+ MONTHS' TRADING
    • Fast, hassle-free business loans of up to £500,000 for almost any purpose
    • Industry-leading flexibility – top-ups, repayment holidays, and penalty-free overpayments available on all loans
    • Award-winning customer service – rated 4.9/5 on Trustpilot
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  • Capify logo

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    • Your business must have a minimum of 1 years trading history.
    • Superfast lending. Receive your funds the following day
    • All credit profiles are considered. Loans for any business purpose
    • Easy application process. Get conditionally approved in just 2 minutes
    • Minimum Turnover
      £120,000 p.a.
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  • iwoca logo

    iwoca

    • YOUR BUSINESS MUST BE A LIMITED COMPANY WITH A MINIMUM OF 6 MONTHS TRADING HISTORY
    • Flexible finance for small businesses from £1,000 to £500,000
    • No long term commitments and flexible repayments to fit for your business
    • Apply online in minutes for a decision (some decisions may take up to 24 hours)
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      £50,000 p.a.
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    YouLend

    • Your business must take on a minimum of £3,000 per month of card sales
    • YouLend is Europe's largest revenue finance provider - working with eBay, Shopify and Just Eat
    • YouLend funds over 5,000 UK SMEs every month including sole traders, partnerships and limited companies
    • Apply online in minutes, for a decision within 24 hours
    • Minimum Turnover
      £3,000 card sales per month
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  • Love Finance logo
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    Love Finance

    • Your business must be a ltd company with 2+ years trading; and 1 director must be a UK homeowner
    • Love Finance is a lender and broker
    • Get a decision in minutes via a simple online form
    • Get funding within 24 hours
    • Minimum Turnover
      £25,000 p.a
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      £5,000 to £500,000
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  • 365 Business Finance logo

    365 Business Finance

    • Your business must process credit and debit card transactions to apply for this product
    • A flexible business funding alternative
    • Cash advanced against card transactions
    • Pay back an affordable % of your card transactions
    • Minimum Turnover
      £10,000+ card transactions per month
    • Available Amounts
      £10,000 to £300,000
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    Swoop Funding

    • Your business must have a minimum of 1 years' trading history
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    Barclays

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    • Apply and receive funds within 48 hours
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      £50,000 p.a.
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Last updated on 30 June 2022.

Funding Circle is an online platform that connects businesses seeking finance with a network of individuals and organisations that are willing to lend.

Funding Circle offers a variety of finance options, including loans for small businesses and the self-employed, and FlexiPay, a line of credit that allows you to spread repayment over three months.

Below, you can find out more about Funding Circle business loans, including key features and how to apply.

What is Funding Circle?

Funding Circle is an online platform which helps businesses borrow between £10,000 and £500,000 from a pool of lenders around the world.

Funding Circle takes responsibility for reviewing applications, ensuring businesses are creditworthy, paying out loans, and processing repayments for lenders.

Businesses repay their loan in fixed monthly instalments and repayment terms can be anything from two to six years.

To date, more than 122,000 businesses have used Funding Circle to borrow £13.7 billion. 100,000 of those businesses have been based in the UK.

What products and services do Funding Circle offer?

Small Business Loans

Funding Circle’s small business loans may allow you to borrow between £10,000 and £500,000 that can be used for anything from boosting cash flow to paying your staff.

Recovery Loan Scheme

Funding Circle took part in the government’s Recovery Loan Scheme, which allowed businesses that have been affected by the pandemic to borrow between £25,001 and £1m. There were no personal guarantees needed for anything up to £250,000, and no early settlement fees. The scheme closed on30 June 2022.

Self Employed Loans

Funding Circle currently offers self employed loans of between £10,000 and £500,000 that can be used for any business purpose, whether you’re a sole trader, in a partnership, or a limited company.

Unsecured Business Loans

You may be able to access an unsecured business loan of between £10,000 and £500,000 through Funding Circle, which allows you to borrow without securing the finance against a business asset.

FlexiPay

FlexiPay is a line of credit that allows you to spread payments for anything from invoices to large asset purchases over three months. You can get a credit limit of between £2,000 and £50,000, with a flat 3% fee payable on each invoice. There are no interest or set up fees.

Business Charge Card

The Business Charge Card is currently advertised by Funding Circle as a soon to be launched product that will give you 1% cashback on any business purchases you make. You can use the card to pay for anything up to your credit limit, and either pay the balance every month free of charge or pay it off in three monthly instalments for a 3% fee.

Can I get a small business loan with Funding Circle?

Yes you can apply for a small business loan with Funding Circle. They currently offer small business loans with borrowing amounts between £10,000 and £500,000, fixed rate repayments over two to six years, and no need to be interviewed in person, or to provide business plans or financial forecasts.

Key features of Funding Circle business loans

  • loan amounts of between £10,000 and £500,000
  • repayment terms of between two to six years
  • fixed rate repayments made monthly
  • available for any business that has been trading for more than two years
  • a dedicated account manager
  • don’t need to be a UK-based business to qualify

How do I apply for a Funding Circle loan?

You can apply for a Funding Circle business loan using the online application form.

Firstly you need to answer a few questions such as:

  • whether you’ve checked your eligibility with Funding Circle before
  • how much you’d like to borrow
  • how long you’d like to borrow it for

You’ll then be asked what type of business you have (limited company, partnership, or a sole trader), for a business name (if you’re a limited company), and for a contact email address.

Funding Circle will use this information to check your eligibility. The check does not affect your credit score.

If you meet the criteria, you’ll be invited to fill in an application form, providing more information about your business and why you need a loan, which helps Funding Circle decide whether to offer you a loan and on what terms..

To support your application, you’ll also need to provide evidence of your finances, including business bank statements for the last eight months, and your latest full accounts (profit and loss, detailed profit and loss, balance sheet information).

Am I eligible for a Funding Circle business loan?

In order to be eligible for a Funding Circle business loan, you need to have been trading for two years or more. You also need to be looking to borrow between £10,000 and £500,000.

What business loan rates could I get with Funding Circle?

Your rates will be tailored to your individual circumstances, and based on factors such as your financials and credit score. Funding Circle also charges a one-off completion fee when you take out a loan.

What do Funding Circle customers say?

On Trustpilot, Funding Circle has been rated 4.6 out of 5 based on over12,253 reviews.

The Funding Circle app has been rated 3.7 out of 5 based on 233 on the App Store.

This information is correct as of 23 May 2022.

Conclusion

Whether you’re a sole trader, limited company, or partnership that’s been trading for more than two years, you may be able to secure a loan of between £10,000 and £500,000 from Funding Circle’s global network of lenders.

Funding Circle claims that you can apply online in as little as 10 minutes, and have the funds deposited in your account within 24 hours. What’s more, you don’t need to take part in an in-person interview, you don’t need to provide a business plan or financial forecast, and you don’t need to use business assets as security.

If you do plan on taking out a loan from Funding Circle, make sure to thoroughly review its terms and compare its offering to other business lenders to ensure you’re getting a good deal that makes sense for your needs.

Funding Circle Business Loan FAQs

Is Funding Circle a legitimate lender?

Funding Circle is a legitimate lending platform that’s regulated by the Financial Conduct Authority.

Does Funding Circle have a minimum credit score?

Funding Circle uses credit reference agencies Experian and TransUnion to check applicants’ credit score. The best rates are reserved for those applicants with the higher credit scores so the platform recommends you check that all your details are up to date and try to improve your score where possible.

Are Funding Circle in trouble?

Due to the impact of the Covid-19 pandemic, Funding Circle decided to close its platform to new investment from retail investors in 2020. In April 2022, it made the decision to permanently close the retail platform, but will continue to issue repayments to existing users who have lent via the platform until all their loans have been repaid or recovered. This means that you can no longer be a ‘lender’ to funding circle but you can still apply to receive a loan.

Does Funding Circle lend to startups?

To be eligible to apply for a loan from Funding Circle, your business must have been trading for two years or more.

Services offered by this provider may change over time. Always check Ts&Cs.