Compare our business loans
We believe small businesses deserve a better borrowing experience. Here’s how our transparent marketplace stacks up against other lenders.
| Funding Circle (Term Loan) | Online MCA (Cash Advance) | Banks (Term Loan) | |
|---|---|---|---|
| Rates | Transparent. Fixed interest rates as low as 4.99% with monthly payments | Very high. Take a cut of your sales every day, with daily interest* | Low fixed interest rates |
| Fees | Just one origination fee: 0.99–6.99% of loan principal | Varies but often hidden or confusing | Varies but often include origination fee, closing fee and servicing charge |
| Prepayment penalty | Nope. Save on interest and repay early! | Hefty. Some charge full interest even if prepaid early | Sometimes. Usually a small percentage of the original loan. |
| Repayment term | 6 months–5 years | Varies but typical less than 12 months | Average around 5 years |
| Customer service | White glove service from your own loan specialist from day one | Tend to be pretty transactional | Not exactly known for it |
| Underwriting | Your personal underwriter gets to know you and your business holistically | Usually a computer algorithm checks your credit score and application | A loan officer forwards your application to an underwriter for review |
| Approval time | In as few as 10 days | A few days | Month(s) |