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Funding Circle

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About Company

Funding Circle loans are a form of small business financing provided by Funding Circle, a reputable online lending platform. These loans are designed to offer fast, affordable funding solutions to small businesses across various industries in the United States. Funding Circle works by issuing a lending decision and provides the loan funds but then anonymizes your small business profile and allows institutional investors to back your loan after it's already been issued.

Funding Circle has lent over $20.2 billion to small businesses, benefiting more than 135,000 companies spanning 700 industries. The loans offered include Business Term Loans, SBA 7(a) Loans, and Business Lines of Credit, each tailored to meet different business needs. Business Term Loans provide long-term financing with low monthly payments and flexible terms, while SBA 7(a) Loans offer government-backed funding with competitive rates and longer repayment periods.

Funding Circle

Key Features

  1. Generous Funding Amounts. Business Term Loans and SBA 7(a) Loans offer financing options ranging from $25,000 to $500,000, providing businesses with the capital they need to support various initiatives.

  2. Flexible Terms. Business Term Loans come with flexible term lengths, ranging from 6 months to 7 years, allowing businesses to choose a repayment schedule that aligns with their financial capabilities.

  3. No Prepayment Penalties. Borrowers have the flexibility to pay off their loans early without incurring prepayment penalties, enabling them to save on interest costs.

  4. Dedicated Account Manager. Applicants are assigned a dedicated Account Manager who guides them through the application process, ensuring personalized assistance.

  5. No Application Fees. Funding Circle does not charge application fees, making the initial application process cost-free for small business owners.

  6. Service (LaaS) Program. Funding Circle offers innovative solutions for small business funding, leveraging cutting-edge online lending technology through its Lending as a Service (LaaS) program. This initiative enables banks, credit unions, and CDFIs to provide their own full-service lending experience without the need to invest in building or buying their own SMB digital lending platform. With zero upfront costs, businesses can access fully-integrated digital experiences across credit, technology, and operations.

Pros and Cons


Fast Funding. Funding Circle offers rapid access to funds, with approval and funding in as little as 48 hours, enabling small businesses to address urgent financial needs promptly.

Competitive Rates. SBA 7(a) Loans feature attractive interest rates, including rates as low as Prime + 2.75%, making them a financially viable option for small business owners.

Diverse Loan Options. Funding Circle offers a range of loan products, including Business Term Loans, SBA 7(a) Loans, and Business Lines of Credit, catering to different business needs and circumstances.


Eligibility Criteria. Some small businesses may not meet Funding Circle's eligibility requirements, such as minimum credit score thresholds or time in business, limiting access to financing for certain applicants.

Collateral Requirements. While not all loans require collateral, businesses seeking larger loan amounts or longer terms may need to provide collateral, which could pose a risk if they are unable to meet repayment obligations.

Limited Funding Amounts. While Funding Circle offers generous funding amounts, businesses with extensive financing needs may find the maximum loan limits insufficient to meet their requirements.


Funding Circle's reliability is underscored by its accreditation with the Better Business Bureau (BBB) and an outstanding A+ rating, a testament to its commitment to ethical business practices and customer satisfaction. With this accreditation, Funding Circle demonstrates adherence to BBB standards, including transparency, integrity, and responsiveness to customer concerns. Moreover, the A+ rating signifies a high level of trustworthiness and reliability in the eyes of the BBB, offering reassurance to potential borrowers seeking financial services.

Furthermore, Funding Circle's reliability is echoed by the overwhelmingly positive feedback from customers, as evidenced by its impressive rating of 4.6 out of 14,526 total reviews on Trustpilot. This substantial volume of reviews underscores the widespread satisfaction among Funding Circle's clientele, indicating consistent delivery of quality services and effective support throughout the lending process.

How to Apply for a Funding Circle Loan?

  1. Visit the Funding Circle Website. Start by visiting the Funding Circle website to explore the available loan options and learn more about the application process.

  2. Prequalification. Before formally applying, you can prequalify for a loan by providing basic information about your business, such as its name, industry, and annual revenue. This step helps determine your eligibility and potential loan options without impacting your credit score.

  3. Complete the Online Application. Once you've determined your eligibility, proceed to complete the online application form. You'll be asked to provide detailed information about your business, including its financial history, revenue, and purpose for seeking financing.

  4. Upload Documents. As part of the application process, you'll need to upload supporting documents, such as business tax returns, bank statements, and financial statements. These documents help verify your business's financial health and support your loan application.

  5. Wait for Approval. Once you've submitted your application, Funding Circle will review your information and assess your eligibility for a loan. The approval process typically involves evaluating your business's creditworthiness, financial stability, and ability to repay the loan.

  6. Consult with an Account Manager. If your application meets the necessary criteria, you'll be assigned a dedicated Account Manager who will guide you through the remainder of the process. Your Account Manager will discuss your financing needs, loan options, and any additional requirements.

  7. Accept the Offer. If your loan application is approved and you're satisfied with the terms and conditions, you can accept the loan offer provided by Funding Circle. Be sure to carefully review the loan agreement and understand all the terms before proceeding.

Conditions and Requirements


  1. Loan Amount. Funding Circle offers loan amounts ranging from $25,000 to $500,000, depending on the borrower's needs and qualifications. The actual loan amount approved is based on factors such as the business's revenue, creditworthiness, and financial stability.

  2. Interest Rates. The interest rates for Funding Circle loans are competitive and fixed for the duration of the loan term. Rates vary based on factors such as the borrower's creditworthiness, loan amount, and repayment term.

  3. Repayment Terms. Funding Circle offers flexible repayment terms for its loans, with term lengths ranging from 6 months to 7 years for Business Term Loans. SBA 7(a) Loans may have term lengths of up to 10 years. Borrowers repay the loan in fixed monthly installments over the agreed-upon term.

  4. No Prepayment Penalties. Borrowers have the option to repay their loans early without incurring prepayment penalties. This flexibility allows borrowers to save on interest costs by paying off the loan ahead of schedule.

  5. Application Fees. Funding Circle does not charge application fees to borrowers. However, borrowers should be aware that there may be other closing costs associated with the loan, such as origination fees or closing fees.


  1. Time in Business. Typically, borrowers must have been in business for at least two years to qualify for a Funding Circle loan. This requirement demonstrates the business's stability and reliability.

  2. Credit Score. Funding Circle considers the creditworthiness of the business owner(s) during the application process. While there is no specific minimum credit score requirement stated, a credit score of at least 660 is typically recommended for business owners.

  3. Revenue. Lenders often look for evidence of consistent revenue generation to ensure the business has the means to repay the loan. Businesses with a steady stream of revenue are more likely to qualify for funding.

  4. Collateral. While not all loans require collateral, Funding Circle may request collateral, such as personal or business assets, depending on the loan amount and duration. Collateral provides security for the lender in case of default.

Ways to Receive the Money

  1. Direct Deposit. The most common method for receiving loan funds is through direct deposit into the borrower's business bank account. Once the loan is approved and finalized, Funding Circle initiates a direct deposit transaction, transferring the funds directly into the designated bank account. This method offers speed and convenience, with the funds typically available for use within a few business days.

  2. Business Checking Account. Borrowers may opt to receive the loan proceeds in their business checking account. This account is specifically designated for business transactions and expenses, making it a convenient option for managing the loan funds and tracking business finances separately from personal finances.

  3. Wire Transfer. In certain cases, borrowers may request a wire transfer to receive the loan funds directly into their business bank account. Wire transfers offer expedited processing and can be particularly useful for borrowers who require immediate access to the funds.

  4. ACH Transfer. Another option for receiving loan funds is through an Automated Clearing House (ACH) transfer. ACH transfers allow for electronic funds transfers between bank accounts, providing a secure and efficient way to receive the loan proceeds directly into the borrower's designated account.


  1. Business Term Loan (up to $500,000). Business Term Loans provide businesses with access to a lump sum of capital that can be used for various purposes, such as expansion, equipment purchase, working capital, or debt consolidation. These loans feature fixed monthly payments and flexible repayment terms ranging from 6 months to 7 years, allowing businesses to manage their cash flow effectively.

  2. SBA 7(a) Loan (from $75,000 to $5 million). SBA 7(a) Loans are government-backed loans designed to support small businesses with long-term financing needs. These loans offer competitive interest rates, and longer repayment terms of up to 10 years, and funds can be used for a wide range of business purposes, including working capital, equipment purchase, inventory, and debt refinancing. SBA 7(a) loans are ideal for businesses that may not qualify for traditional financing or require larger loan amounts.

  3. Business Line of Credit (up to $250,000). Business Lines of Credit provide businesses with flexible access to funds on an as-needed basis. With a revolving credit line, businesses can draw funds up to their approved credit limit and repay them over time. Interest is only charged on the amount of funds borrowed, offering businesses greater flexibility in managing their cash flow and covering short-term expenses.

Other Loans

Reasons for Getting Rejected for a Funding Circle Loan

  1. Insufficient Creditworthiness. Funding Circle evaluates the creditworthiness of both the business and its owners as part of the loan application process. If the business or its owners have a history of late payments, defaults, bankruptcies, or other negative credit events, it may negatively impact the application.

  2. Inadequate Time in Business. Funding Circle typically requires businesses to have been operating for at least two years to qualify for a loan. Businesses that have been in operation for less than this timeframe may be deemed too risky for lending purposes.

  3. Low Revenue or Cash Flow. Funding Circle assesses the financial health of a business by reviewing its revenue and cash flow. If a business's revenue is too low or its cash flow is inconsistent, it may not have the ability to comfortably repay the loan, leading to a rejection.

  4. Unsatisfactory Documentation. Funding Circle requires applicants to submit various financial documents, including business tax returns, bank statements, and financial statements. If these documents are incomplete, inaccurate, or fail to demonstrate the business's financial stability, the application may be rejected.

  5. Ineligible Industry. Funding Circle may have restrictions on lending to certain industries or business types due to regulatory or risk considerations. Businesses operating in industries deemed high-risk or non-compliant may face challenges in obtaining financing.

  6. Failure to Meet Eligibility Criteria. Funding Circle has specific eligibility criteria that applicants must meet to qualify for a loan. These criteria may include factors such as minimum credit scores, U.S. citizenship or residency requirements, and compliance with legal and regulatory obligations.

How to Repay a Funding Circle Loan?

  1. Review Loan Terms. Before repayment begins, it's essential to review the terms of your loan agreement to understand the repayment schedule, interest rate, and any other relevant details.

  2. Set Up Automatic Payments. Funding Circle offers the option to set up automatic payments, which deduct the monthly loan installment from your business bank account on the designated due date. This ensures timely payments and helps avoid missed or late payments.

  3. Track Payments. Keep track of your loan payments and monitor your loan balance regularly to ensure accuracy and identify any discrepancies or issues promptly.

  4. Consider Early Repayment. If your business has the means to do so, consider repaying the loan early to save on interest costs and reduce the overall loan term. Funding Circle typically does not charge prepayment penalties, allowing borrowers to pay off the loan ahead of schedule without incurring additional fees.

  5. Communicate with Funding Circle. If you encounter any difficulties or challenges in repaying your loan, such as financial hardship or cash flow issues, communicate with Funding Circle as soon as possible. They may be able to offer assistance or alternative repayment arrangements to help you manage your loan obligations effectively.


Credibly offers working capital loans ranging from $25,000 to $400,000, with terms spanning from 3 to 15 months. To qualify, businesses must demonstrate at least $25,000 in average monthly deposits over the past three months, with applicants holding a minimum 51% stake in the company. The origination fee stands at 2.5%, with payments possible on a daily or weekly basis. Fast funding is a highlight, with funds typically available within one business day.

National Funding facilitates loans ranging from $10,000 to $500,000, with terms ranging from 4 to 18 months. The application process can be completed online or by phone, connecting applicants with funding specialists for tailored financing options. Origination fees range from 1% to 5%, with personal guarantees required.

Fundbox offers loans between $1,000 and $150,000, with terms spanning 3 to 6 months. Business owners with a minimum 25% stake are eligible, with personal guarantees required. Available nationwide, Fundbox levies a $6 non-sufficient funds fee in addition to weekly payment fees.

OnDeck provides loans ranging from $5,000 to $250,000, with terms extending from 18 to 24 months. Applicants typically receive decisions promptly, with funding available within one to three business days. OnDeck charges an origination fee of up to 4%, with a $20 monthly maintenance fee applicable to the business line of credit unless $5,000 is borrowed within the first week. A personal guarantee is mandatory for both loan products. Interest rates start at 29.90% APR.

Loans like Funding Circle


OnDeck stands out as an excellent choice for short-term business loans, offering the flexibility of borrowing substantial amounts, even for businesses with a minimum credit score. What makes OnDeck particularly attractive is its ability to provide funds swiftly, with same-day approval and disbursement for qualifying applicants. Moreover, OnDeck emphasizes the opportunity to build and strengthen business credit by consistently making on-time payments. The loan terms range from 18 to 24 months, with loan amounts spanning from $5,000 to $250,000. While the starting interest rate is 35.40% for a portion of customers, the accessibility and speed of funding make OnDeck a notable player in the short-term business loan landscape.

Funding Circle

Funding Circle distinguishes itself in the realm of long-term business loans by offering competitive rates, extended repayment terms, and a lack of prepayment penalties. This lending option caters to businesses seeking larger loan amounts, ranging from $25,000 to $500,000, with a reasonable starting interest rate of 11.29%. Beyond financial support, Funding Circle prioritizes efficiency, enabling businesses to access funds in as little as two business days. Notably, Funding Circle also showcases its commitment to diversity by providing funding options specifically tailored for women-owned businesses and minority entrepreneurs. The loan terms extend from 6 to 84 months, making Funding Circle a favorable choice for businesses with a more extended financial horizon.


Credibly positions itself as a reliable source for working capital loans, particularly for businesses requiring quick funding to address immediate operational needs like payroll or inventory expenses. Notably, Credibly's working capital loans boast a rapid approval process, often providing funds in less than 24 hours. The lender exhibits flexibility by considering applicants with a minimum credit score of 500 and a willingness to look beyond a less-than-perfect credit history, provided there is a healthy annual revenue. Beyond working capital loans, Credibly collaborates with a network of lenders to offer a diverse range of financing options, including merchant cash advances, business lines of credit, equipment financing, SBA loans, and invoice factoring.


For startups in need of swift financing, Fundbox presents an appealing option with its business line of credit, offering up to $150,000. What sets Fundbox apart is its relatively lenient eligibility criteria, allowing new companies to qualify after just six months of operation and a minimum annual revenue of $100,000. The business line of credit provides the flexibility to withdraw funds as needed, and businesses only pay interest on the amount utilized. Additionally, Fundbox offers perks such as up to 20% off fees through its Fundbox Plus upgrade. With competitive starting interest rates ranging from 4.66% for 3-month terms to 8.99% for 6-month terms, Fundbox addresses the financial needs of emerging businesses seeking quick and accessible startup loans.

Editorial Opinion

Funding Circle loans offer a viable financing option for small businesses seeking accessible and flexible funding solutions. With a streamlined application process, competitive interest rates, and a range of loan products tailored to different business needs, Funding Circle provides businesses with the opportunity to secure the capital necessary for growth and expansion. However, potential borrowers should carefully review the eligibility criteria and loan terms to ensure alignment with their financial goals and circumstances.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.


At Finanso, we've carried out a comprehensive analysis of over 50 business lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

  • Funding Circle Account Review
  • How to Apply for Funding Circle Loan
  • How to PayOff Funding Circle Loan
  • Funding Circle Mobile Apps
  • Funding Circle Reviews



Who owns Funding Circle?

Funding Circle, a prominent online lending platform, was co-founded by Samir Desai, who serves as the CEO of the company. As a key figure in the company's leadership, Desai has played a pivotal role in shaping Funding Circle's strategic direction and guiding its growth into a leading provider of small business financing solutions. Under Desai's leadership, Funding Circle has expanded its reach, developed innovative lending products, and fostered partnerships to support small businesses in accessing the capital they need to thrive.

What credit score do you need for a Funding Circle loan?

The credit score required for a Funding Circle loan typically falls within the range of 660 or higher for business owners. While Funding Circle does not specify a strict minimum credit score requirement, a credit score of 660 or above is generally recommended to improve the likelihood of loan approval. However, Funding Circle evaluates various factors beyond just credit scores, such as the business's financial health, revenue, time in operation, and other eligibility criteria, in determining loan approval.

What bank does Funding Circle use?

Funding Circle partners with various banks and financial institutions to provide funding to small businesses. These partnerships allow Funding Circle to leverage its platform to connect borrowers with lenders willing to provide capital. While specific banks may vary depending on the loan product and borrower's location, Funding Circle collaborates with a network of lending partners to facilitate loan funding efficiently and effectively.

Does Funding Circle approve everyone?

Funding Circle does not approve every loan application. While it strives to support as many small businesses as possible, loan approval is subject to meeting eligibility criteria and creditworthiness assessments. Funding Circle evaluates each application on its own merits, considering factors such as the business's financial health, credit history, revenue, time in operation, and other relevant information. Meeting the minimum requirements does not guarantee loan approval, as Funding Circle assesses each application individually to ensure responsible lending practices.

Is Funding Circle a legitimate company?

Yes, Funding Circle is a legitimate and reputable company that operates as an online lending platform, providing financing solutions to small businesses. Accredited with an A+ rating by the Better Business Bureau (BBB) and receiving consistently positive reviews from customers on platforms like Trustpilot, Funding Circle has established itself as a trusted player in the financial services industry. With co-founder Samir Desai at the helm as CEO, Funding Circle has demonstrated a commitment to transparency, ethical practices, and customer satisfaction. Its track record of successfully facilitating small business loans for thousands of businesses underscores its legitimacy and reliability as a financing partner for small businesses.

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Small business owners are forward thinkers. They’re determined. They stand up to make a difference and work hard to make it happen. When small businesses succeed, they create jobs, support local communities and drive the economy forward - that’s why we care about helping them win. To us, nothing is more important.

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