![]() ![]() The news came as the company revealed pre-tax profits of £64.1 million in 2021, up from a loss of £108.1 million in 2020 in a strong set of full-year results.įunding Circle had been one of the market leaders in the pre-pandemic boom in peer-to-peer lending. For more information, please see our Privacy Policy Page.Funding Circle has announced that it is permanently closing its retail platform to new investors. Our affiliate compensation allows us to maintain an ad-free website and provide a free service to our readers. This can affect which services appear on our site and where we rank them. While we strive to keep our reviews as unbiased as possible, we do receive affiliate compensation through some of our links. Our mission is to help consumers make informed purchase decisions. Clarify all fees and contract details before signing a contract or finalizing your purchase. For the most accurate information, please ask your customer service representative. Pricing will vary based on various factors, including, but not limited to, the customer’s location, package chosen, added features and equipment, the purchaser’s credit score, etc. Just don’t expect guaranteed approval or a rock-bottom rate―even if you’re generally well qualified.ĭisclaimer: The information featured in this article is based on our best estimates of pricing, package details, contract stipulations, and service available at the time of writing. So overall, customers like Funding Circle. ![]() But other would-be borrowers complained that they got rejected despite having high qualifications, or that they were offered surprisingly high rates. A lot of recent negative Funding Circle reviews complained about its handling of PPP loans (and to be fair, we’ve seen similar complaints about pretty much every lender). Not everyone loves Funding Circle, though. That means people don’t just like Funding Circle’s application process―they like its whole operation. And best of all, we saw quite a few business owners who said they were using Funding Circle for the second or even third time. Some reviewers also mentioned that Funding Circle offered them very affordable financing. Positive Funding Circle reviews praise its excellent customer service and speedy application process. Funding Circle has pretty positive customer reviews, earning a 3.64 out of 5 on its Better Business Bureau profile and a 4.6 out of 5 TrustScore on Trustpilot. But do customers think Funding Circle lives up to its potential? Overall, that makes Funding Circle faster than many traditional banks―but way slower than online lenders that offer same-day funding (like Kabbage).Īs we’ve told you, we think there’s a lot to like about Funding Circle―like easy comparison shopping and low starting rates. (Or weeks longer, in the case of SBA loans.) And after you’re approved, expect it to take another several days to actually get your money.Īltogether, the process could take a few days or a few weeks, depending on the type of financing you want. Then they’ll help you pick the right loan for your business and finalize your loan application.įunding Circle says you can get an answer to your application in as little as 24 hours, though that’s not a guarantee it could take a day or two longer. When they’ve got enough information, they’ll show you your financing options. Your account manager may ask for more details about you and your business. Once your initial application is in, a Funding Circle account manager will get in touch. You’ll have to submit more paperwork and documents later (think bank statements, personal and business tax returns, and so on), and that will take way more than six minutes. Funding Circle says the application should take just six minutes to complete―but that’s just for the initial application. The process starts with a short online application. Now that we’ve shown you all your Funding Circle financing options, let’s talk about how you can actually apply for and (hopefully) get them.
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