September 27, 2022

Funding Circle Business Loans Review

Funding Circle provides term loans to small businesses.

Businesses can obtain $25,000 to $500,000 term loans from Funding Circle. Terms range from six months to five years. An origination fee of 3.49% to 6.99% applies.

Funding Circle requires at least two years in business and a minimum FICO credit score of 620. The lending platform does not set a minimum annual revenue. All Funding Circle loans are secured, requiring a lien on business assets and a personal guarantee from the primary business owners. Prequalification is not available.

“Our borrowers are successful businesses with plans for growth who have been underserved by the traditional financial sector,” says Sarina Siddhanti, U.S. head of commercial at Funding Circle. “More specifically, they average 11 years in business, with 12 employees and annual sales around $1.5 million. They are widely spread across regions and sectors.”

Estimated approval time is 24 hours after document submission. Disbursement time is about five to 10 business days after approval.

Funding Circle has an A+ rating with the Better Business Bureau and an excellent rating with Trustpilot.

  • Businesses that need at least $25,000 in funding
  • Businesses with collateral
  • Businesses with a minimum FICO credit score of 620

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