Funding Circle business loans calculator and review

Funding Circle is a business lending service bringing together investors with businesses seeking investment. Loans amounts from £10,000 to £5,000,000 between 6 and 84 months.

4.3 ★★★★★ (27 reviews) Write a review
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If your business is in need of some financial assistance, Funding Circle may be a good option to consider. Through its online marketplace, investors can offer funding directly to small companies to help with their growth. The amount of money offered was originally determined via auction. However, since September 2015, Funding Circle has decided the criteria for payment will be the risk category of each particular business, as well as the loan term.

See how much it'll cost you to take out a Funding Circle loan

Funding Circle business loan calculator
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Funding Circle business loans comparison

Funding Circle business loans

Name Product UKFBL Finder Score Loan type Loan amounts Loan terms Minimum turnover/trading criteria Key benefit
Funding Circle logo
4.2
★★★★★
Peer-to-peer Asset finance loan
Up to £5,000,000
6 months to 5 years
£50,000 annual turnover,
no specified minimum time trading
Funding Circle logo
4.2
★★★★★
Fixed rate Unsecured Line of credit loan
£10,000 to £500,000
6 to 72 months
No specified minimum turnover,
2 years trading
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How does Funding Circle compare to other popular business loans?

Table: promoted deals first

Name Product UKFBL Finder Score Loan type Loan amounts Loan terms Minimum turnover/trading criteria Key benefit
Nest Business Loans logo
3.5
★★★★★
Fixed rate Unsecured Asset finance loan
No specified loan amounts
No specified loan terms
No specified minimum turnover or time trading
Rise Funding logo
3.8
★★★★★
Asset finance loan
£10,000 to £2,000,000
3 to 72 months
£150,000 per annum annual turnover,
1 year trading
Nest Business Loans logo
4.0
★★★★★
Fixed rate Unsecured loan
£10,000 to £5,000,000
No specified loan terms
£200,000 annual turnover,
1 year trading
Fleximize logo
3.7
★★★★★
Fixed or variable rate Asset finance loan
No specified loan amounts
No specified loan terms
No specified minimum turnover or time trading
Cubefunder logo
2.0
★★★★★
Fixed rate loan
£2,500 to £7,500
Up to 12 months
No specified minimum turnover or time trading
Representative Example: Borrowing £5,000 over 24 months at an interest rate of 30.0% p.a. (fixed), you will repay 24 monthly payments of £320.83 per month. Interest Payable £2,700. Total Repayable £7,700. Representative 45.5% APR.
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Funding Circle business loans overview

Funding Circle was founded to create opportunities for both investors and businesses. It helps businesses find funding and helps investors find new businesses to invest in. It was established in 2010 and has over 50,000 registered members, including local councils, universities and the British government. It raised $150 million (around £116 million) in new venture funding by April 2015, which brought the business’s value to $1 billion (around £0.8 billion).

In March 2022, Funding Circle announced that it would be permanently closing the retail investor side of its platform to new investments. It had initially paused that type of peer-to-peer business lending in March 2020 due to the pandemic. It only accounted for around 5% of Funding Circle’s total loans under management, and the company confirmed that its retail platform would remain shut post-pandemic.

Quick overview of Funding Circle business loans

Minimum trading period 2 years
Loan terms From 6 to 84 months
Loan amounts From £10,000 to £5,000,000
Minimum turnover £50,000

Key features of Funding Circle business loans

The company’s business loans provide quick cash to help your business grow, with manageable finance plans. You can receive funding for a very large unsecured loan with fixed monthly payments. On average, Funding Circle approves a loan every five minutes.

Loan typeFixed rate Unsecured Line of credit loan
Credit limits£10,000 to £500,000
Loan terms6 to 72 months
Loan rate typeFixed
Funding speedOnce your loan has been granted, Funding Circle states that the funds will reach your account in a few days.
Personal guaranteeA personal guarantee is required
Multiple loans allowed at the same time
Arrangement fee
Early repayment fee
More Info

Funding Circle secured loans

If you need to borrow more, Funding Circle also offers secured loans of up to £1 million. Funding Circle states that typically you can secure your loan against all assets of the business, including property and large assets. A personal guarantee may also be required.

Funding Circle customer reviews

In our 2024 customer satisfaction survey, 94% of Funding Circle customers said they would recommend the brand to a friend. Several respondents said how great the customer service they had received was. One customer said that he would recommend Funding Circle “because I had a good business plan and had been turned down by traditional finance avenues, yet I was able to obtain funding for growth through this company”.

Funding Circle has positive reviews from customers on Trustpilot, where it currently has an “Excellent” rating of 4.6 out of 5, based on over 15,000 reviews (updated July 2024).

Over 80% of Funding Circle customers on Trustpilot gave the company a 5-star review, with many highlighting its customer service and support, as well as the uncomplicated application process.

Am I eligible for a Funding Circle business loan?

If you’re certain you can meet your monthly payments, and you meet the following criteria, then you should be eligible for a loan with Funding Circle.

  • You have been trading as a business for at least one year and have not been dormant at any time.
  • You are in business to make money. Public bodies, charitable organisations and trusts are not eligible unless Funding Circle has made an official exception in writing.
  • Your firm is a sole trader, partnership, limited liability partnership or a limited company. It also must be registered at Companies House if it applies to your business.
  • At least 50% of the people who run your business are permanent residents of the UK.
  • Your business has a valid UK bank account.
  • Your business’s premises are in the UK.
  • Your company has a good and clean credit history.
  • Neither you nor any of the your company’s directors, shareholders or members has had an individual voluntary arrangement at any time within the last six years.
  • You are a legal resident of the UK.
  • You are aged over 18 and also a director of your company.
  • You have authority (signatory) over your company’s bank account.
  • You haven’t been declared bankrupt in the last six years.
  • You haven’t had any court judgements or decrees within the past three years.
  • You haven’t been a disqualified director or a director of a failed business at any time within the last six years.
  • You can provide all the information that Funding Circle requests of you.
  • You have a good and clean credit history.

Looking for alternative lenders to Funding Circle?

How does the application process work?

  1. First off, you’ll be prompted to check your eligibility and see your personalised rate. This is a really quick part of the process, taking less than a minute, and it doesn’t require masses of info. It also won’t have any effect on your credit score.
  2. If you’re happy with the rate that Funding Circle says you’d likely be offered, then you can go ahead and apply online. This bit takes 10-15 minutes.
  3. You then usually get a decision on your application within 1 hour. At this point you’ll usually be required to provide a personal guarantee and you’ll need to electronically accept the loan offer. You’ll also be prompted to provide details of your nominated business bank account for the loan to be issued to and you’ll set up a direct debit for repayments.
  4. Now, your loan can be listed on Funding Circle’s marketplace where investors can come forward to fund part or all of your loan. Finding funding for the whole lot could take up to two weeks, but Funding Circle states that most loans find investor funding within a couple of days.
  5. Once funding has been found, you’ll get a notification email and Funding Circle will pay the loan into your designated business bank account the same working day. If your loan becomes fully funded after 3pm, however, it’ll be the next working day.

How long does it take to get a loan?

From start to finish, the process can take as little as three days.

Funding Circle’s huge popularity means that it has a large pool of investors to fund loans. Factors that can affect the turnaround time include:

  • When you apply (within working hours will help).
  • How straightforward your application is (including whether any additional supporting information is required).
  • How attractive your loan appears to investors (based on factors like the nature of your business, the size and duration of the loan, your credit profile, etc.).
  • The volume of ready and willing investors.
  • How quickly you respond to any communications from Funding Circle.

Is Funding Circle safe?

Funding Circle is regulated by the Financial Conduct Authority (registration number 722513) and as such is obligated to have a back-up servicing arrangement in place in case of a company ceasing to trade. Funding Circle is also a member of CIFAS – the UK’s leading fraud prevention service. However, Funding Circle is not covered by the Financial Services Compensation Scheme.

What is Validis?

Validis a third party service that business lenders can use, with your permission, to gain read-only visibility of your accounts. If you’ve heard of “open banking” (which lets you grant authorised third parties access to your bank account’s transaction history), this is like “open accounting”. Lenders use this primarily to help make lending decisions.

Customer support

You can contact Funding Circle’s customer support by filling out an online form on the website. It can be found on the “customer support” page.

Frequently asked questions

Business loans ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Head of publishing

Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio

Chris's expertise
Chris has written 602 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health

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