Bridge cash flow gaps, grow your business

The interest rate your business pays is determined by several factors. Our credit assessment process looks at the information you provide us, alongside publicly available data, for example from credit bureaus. The outcome of this process, along with the length of repayment term and the amount you are borrowing helps to determine what your interest rate will be.

Your loan offer depends on your situation and we take a number of factors into account. We’ll complete an affordability assessment and never lend you more than you can afford. This means we may offer you a smaller amount or less time than you originally applied for.

If you’re offered a loan of up to 12 months, this comes with no upfront fee so you can pay it back as quickly as possible. Please note that this is referred to as a ‘Flexible Loan’ in your loan contract and legal documentation.

To discuss your offer, please get in touch with your Account Manager.

Yes, you can make an overpayment (more than your contractual monthly amount) on any Funding Circle business loan, or settle your loan early in full with no fee.

If your loan has a term of up to 12 months (referred to in your contract as a ‘Flexible Loan’), interest accrues only on the remaining balance. So, when you overpay, you’ll shorten your loan term and reduce the total interest paid. This means you could pay off your loan faster.

If you make overpayments on a loan with a longer term of 24 months or more (referred to in your contract as a ‘Funding Circle Business Loan’), your overpayments will reduce your future repayment amounts but not affect the outstanding loan term. You’ll pay less over the same number of fixed repayments.

The only loans we’re unable to offer overpayments on are Bounce Back Loans (BBLS) and a small number of loans from 2019. You can still settle these loans early in full, for no fee.

Yes! You can settle your business loan early at any time for no fee.

Yes, if you’re approved for a Funding Circle business loan, a Personal Guarantee may be required by one or more shareholders to secure your obligations under your loan contract. You’ll need to ensure that the shareholder(s) in question have read, understood and signed the terms of our Personal Guarantee before we release any funds.

Please note that different rules may apply for Personal Guarantees for loans entered into under the government’s Recovery Loan Scheme or Growth Guarantee Scheme.

If you’re borrowing for less than 24 months and your loan contract states that your loan is a ‘Flexible Loan’, you’ll notice that the limit of the Personal Guarantee is for twice the amount of your initial loan amount. For example, if you get a loan of £50,000 over 6 months, the Personal Guarantee will be up to a limit of £100,000.

A Personal Guarantee with a higher limit allows for greater flexibility if we offer you a ‘top up’ of your loan enabling you to borrow more in the future without re-applying. It does not affect your repayments, or the total amount you owe.

In the future, we may offer top ups for certain loans which could allow you to borrow more without re-applying. If we offer you a top up, we’ll send you a separate top up offer setting out any additional amount we can offer, the terms for repayment and the interest rate.

If we've not been able to answer your question above, you can find out how to contact us on our support homepage.