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Who are Funding Circle?
Funding Circle is one of the UK’s leading online platforms for business lending, founded in 2010 with the aim of making finance more accessible to small and medium-sized businesses. Since its launch, the company has grown rapidly and is now listed on the London Stock Exchange, reflecting its position as a major player in the alternative finance market.
Over the years, Funding Circle has played a key role in supporting UK businesses, including working closely with the British Business Bank since 2013. Through this partnership, it has become one of the largest providers of Government-backed finance, including loans issued under schemes like the Growth Guarantee Scheme.
As of late 2024, Funding Circle has helped more than 103,000 UK businesses access over £13.6 billion in funding, supporting growth, job creation, and economic development across a wide range of industries.
What does Funding Circle offer?
Funding Circle provides a range of business finance solutions designed to support UK businesses at different stages of growth. Whether you need funding to expand operations, manage cash flow, or invest in new opportunities, their products are built to offer flexibility, speed, and transparency.
1. Business loan
Funding Circle’s core product is its standard business loan, designed for established businesses looking for medium to long-term funding. Businesses can borrow between £10,000 and £750,000, with repayment terms ranging from 6 months to 6 years.
The application process is fast and straightforward, with a decision typically made within one hour. Once approved, funds are usually transferred within 48 hours. These loans can be used for a variety of purposes, including expanding your business, purchasing equipment, hiring staff, or managing day-to-day cash flow.
Key features:
| Loan amounts | £10,000 to £750 million |
|---|---|
| Loan terms | 6 months to 6 years |
2. Shorter term loan
For businesses that need quicker, more flexible funding, Funding Circle offers shorter term loans. These loans range from £10,000 to £750,000 and are available over 6 or 12-month terms.
For loan amounts up to £250,000, decisions can often be made instantly, giving businesses rapid access to finance when timing is critical. One of the key benefits is flexibility—businesses only pay interest for the time they borrow, and there are no fees for overpaying or settling the loan early. This makes it a useful option for short-term cash flow needs or bridging temporary gaps.
Key features:
| Loan amounts | £10,000 to £750 million |
|---|---|
| Loan terms | 6 months or 12 months only |
3. Other products
In addition to loans, Funding Circle also offers FlexiPay and a Business Credit Card to help businesses manage expenses more effectively.
FlexiPay is a flexible credit solution that allows businesses to spread the cost of purchases over time, helping to smooth cash flow while still investing in growth. It’s particularly useful for managing supplier payments or larger one-off costs.
The Funding Circle Business Credit Card is designed for everyday spending, offering a simple way to manage business expenses while maintaining control over cash flow. It provides an additional layer of flexibility for short-term financing needs.
Funding Circle eligibility criteria
To apply for a loan with Funding Circle, your business will need to meet a few core eligibility requirements. The main criteria include:
- Minimum of 1 year of trading
- Business must be based in the UK
- Must be a Limited Company or Limited Liability Partnerships (LLPs)
Meeting these initial requirements is the first step, with further checks carried out during the application process to assess affordability and suitability.
Calculate your Funding Circle business loan repayments
Use our Funding Circle loan calculator to get a clear estimate of your potential repayments in seconds. Simply enter your loan amount, term, and interest rate to see a breakdown of your monthly payments, total interest, and overall cost of borrowing.
Whether you’re reviewing a current Funding Circle offer or comparing different funding options, the calculator helps you understand exactly what you could repay before making a decision. You can easily adjust the figures to test different scenarios, giving you a better idea of how the loan might fit your business cash flow.