Once you submit your online loan application and required documents, Funding Circle gives you back their offer, interest rates and the origination fee within a day. If you accept their terms, you’ll receive funding in as few as 5 days.
Interest rates are determined by how long your business has been in operation, the type of industry it operates in, term length, credit score and overall business health.
All Funding Circle loans are secured. The company requires that a lien be placed against business assets along with a personal guarantee from all business owners with more than 20% stake in the business.
Funding Circle reports borrower repayment activity to Experian and Dun & Bradstreet (D&B), which can help businesses build credit.
Here’s more info from our experts to help your small business thrive.
Funding Circle offers term loans to small businesses through investors. They invest through the Funding Circle Securities, the affiliated broker-dealer of the U.S. branch. In addition, Funding Circle Securities is registered with the U.S. Securities and Exchange Commission (SEC) as well as the Financial Industry Regulatory Authority (FINRA).