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Funding Circle Reviews [Read Our Expert Opinion]

Jane Wardle

Written by Jane Wardle on July 12, 2018

Updated July 12, 2018

funding-circle-business-loans Review

Overall Rated: 4.9 / 5

Summary

Funding Circle offers investors a chance to grow their income by providing a platform where they can lend to small and medium-sized businesses. Launched in 2010, the company ensures firms have access easy and fast funding to meet their diverse business needs. Funding Circle has a global presence with operations not only in the UK but also in Netherlands, Germany and the United States. The lender launched services in the United States in 2013 and 2015 in Continental Europe.

Funding Circle Ltd has been regulated and authorised by the FCA (Financial Conduct Authority) and registered to operate in England with a physical address in London. The lender takes data protection seriously and has registered with the Information Commissioner’s Office including all associated enterprises.

As a leading business loans provider globally, Funding Circle has also committed itself against modern slavery to ensure no modern human trafficking and slavery is present anywhere in their supply chains or business in accordance with the Modern Slavery Act 2015, Section 54(1).

Over £3.4 billion has been loaned through the platform to SMEs in the UK alone supporting over 40,000 small businesses. Funding Circle business funding is unsecured and begins from £5,000 to £500,000 borrowed between six months and five years. Rates are 3% annually with a typical decision complete in 24 hours with zero early repayment charges.  Through a simple web form and a dedicated account manager getting a fast decision is fast. In a few minutes after offering information on your business, you will get an instant quote, review the various repayment models and choose the one that works for you. Once the loan application is approved, the loan offer will be complete in 24 hours. Within days, the funds will be deposited in your account.

 

Trust & Reputation

Rated 4.9/5

Funding Circle offers diverse loans for UK businesses for any purpose from working capital, growth, property to asset finance. The lender is regulated and authorised by FCA and affiliated with NACFB (National Association of Commercial Finance Brokers). Funding Circle Ltd also works with the British Business Bank, which is government owned and uses the platform to offer loans to UK businesses.

Within its eight years of operation, Funding Circle has amassed immense awards and nominations in many areas. These include consecutive year shortlisting in the Financial Times ‘Impact Awards’ in 2016 and 2017. In 2016, Funding Circle’s Collection Team was awarded the Credit Excellence Awards, including taking four Alt Fi Awards in 2015, which include P2P Business Platform of the Year, Property Lending Platform of the Year, Alt Fi Editors Award and Best Clarity of Data Award.

Expertise & knowledge

Rated 4.9/5

Through its expertise and vast knowledge base, Funding Circle harnesses technology, experienced structures such as an expert team of credit assessors who assess each business regarding risks where an A+ is given to UK businesses with the lowest credit risk to E with the highest risk.

Its expertise and ability to innovatively open new terrain were seen in 2013 when it launched its U.S. division and Continental Europe division in 2015. The many awards and recognitions, as well as media coverage, are further testament to the Funding Circle’s knowledge, expertise and innovations.

Customer Service

Rated 4.9/5

Funding Circle is one of the most well-known and respected business lenders in the UK. On Readies the lender has a 4.6-star rating out five stars ranked with ‘A’ due to exemplary customer service, value for money, ease of use and flexibility. In Trustpilot, Funding Circle holds a 9.2 TrustScore rating out of ten with an overall ‘Excellent’ review with five stars out of five after over 3,850 reviews.

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Rating: 4.9 / 4.9 with 1 votes

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