| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 6.9–29.9% | £10k–£500k | 72–72 mo | Business |
Best For
It's ideal for small to medium-sized enterprises seeking funding between £10,000 and £500,000, especially those needing a fast decision.
Watch Out
Be mindful of the interest rates, which start at 6.9%, and ensure your credit meets their fair credit criteria.
Full Review
Funding Circle provides a streamlined approach to business financing, allowing businesses to borrow between £10,000 and £500,000 with terms ranging from 6 months to 6 years. The application process is user-friendly, taking just minutes, and decisions are made within 24 hours, which is a significant advantage for those needing quick access to funds. The company is FCA regulated and LSE listed, lending it credibility in the competitive financial landscape.
However, potential borrowers should be cautious of the starting APR of 6.9%, which may not be the lowest available in the market. Unlike some alternatives, Funding Circle does not charge early repayment fees, allowing businesses flexibility if their financial situation improves. The support from a UK-based team is an added benefit, ensuring that help is readily available when needed.
In comparison to other lenders, Funding Circle stands out for its focus on small businesses and quick processing times, but it's essential to carefully evaluate your business's credit status and the total cost of the loan before committing.
