Every day, thousands of successful business owners struggle to get loans to grow their businesses, battling endless streams of paperwork and unreasonable lending terms. We believe small businesses deserve better.
We know firsthand the frustration and anguish the comes with long wait times, pounds of onerous paperwork, confusing terms and conditions, and only an automated voice on the other end of the phone, which is why we decided to create something better.
You could wait up to 90 days to get a decision from a bank. With Funding Circle, upload a few simple documents and we’ll get you a decision in as little as 24 hours.
Our rates are fixed throughout the life of your loan, so there are no unexpected surprises down the road.
We offer a consistent, predictable monthly repayment schedule so you can borrow and budget with confidence. No expensive surprises ever.
We'll always be upfront about the true cost of your loan. You'll know exactly how much you have to repay each month. And there are absolutely no hidden fees – ever.
Every dollar counts when you own a small business. Some online lenders charge ridiculous fees and require daily or weekly repayment scheduled, which means your APR can quickly skyrocket. With Funding Circle, you can save thousands with our low fixed rates and predictable monthly payments.
The average business owner spends 24 hours applying for a bank loan. Our application takes as few as 6 minutes, and you’ll get a decision from us in as little as 24 hours after submitting documents. After accepting the terms of the offer, you’ll get the funds in as quickly as one business day.
|Online Lenders||Funding Circle|
|Loan size||$2k to $500k||$25k to $500k|
|APR||9% to 99%||11.67% to 36%|
|Repayment terms||3 months to 36 months||6 months to 5 years|
|Approval time||Immediate to days||As little as 24 hours|
|Repayment schedule||Daily or weekly repayments||Fixed, monthly payments|
|Fees||Varies and unpredictable||1-time origination fee|
|Save interest by paying early||No||Yes|
|Builds business credit||Varies||Yes|
|Loan size||Usually more than $100k||$25k to $500k|
|Average Application Time||24 hours||6 minutes|
|Decision Time||Weeks to months (and you may be denied)||As little as 24 hours|
|Funding Time||Days to weeks||1 day after offer is accepted|
|100% Small Business Focus||No|
Small part of a bank’s balance sheet
All we do is small business lending
|Likelihood of Approval||Reject 4 out of 5 small business owners||We approve a new business every 4 minutes|
|Underwriting||Stringent and inflexible credit criteria||More than your credit score|
|Point of Contact||General phone line||Your own personal account manager|
|Average Application Time||Hours||6 minutes|
|Decision Time||Weeks to months (and you may be declined)||As little as 24 hours|
|Loan Process Timeline||60 to 90 days||Within 5 days|
|Funding Time||Weeks to months||1 day after offer is accepted|
|Down Payment||10% (for most common SBA loans)||No|
|Fees||Can include: guarantee, origination, closing, and servicing fees||1-time origination fee|
Learn more about your options for small business loans & financing
We’re invested in helping women-owned businesses get affordable loans from $25K to $500k.Learn more
Discover loan options specifically designed for small businesses owned by minorities.Learn more
Learn why it might be worth consolidating your business debt into a single monthly payment.Learn more
Learn about different business financing options available for small business owners.Learn more
Browse through different types of acquisition loans and examine the pros and cons of each.Learn more
Learn about our short and long term loans - up to $500k with rates as low as 4.99%.Learn more
1 Based on an online survey of US Funding Circle borrowers. A total of 216 business owners completed the survey between October 10 – 30, 2017.
2 Savings on “Cost of loan” refers to interest and fees associated with a first time borrower. For the purposes of this calculation, “other lenders” leverages data obtained from the public websites of Kabbage and OnDeck. “One document” refers to incremental financial documents required by Funding Circle compared to OnDeck. Analysis based on rates, fees, and requirements available as of October 15, 2019 and may differ from today.
3 SBA average funding times from https://www.business.org/finance/loans/sba-express-loan/. Minimum and average times to funding are based on estimates of times required for applicants to prepare and for lenders to underwrite and process loan applications, and will vary for each applicant.
4 If your business is organized as a general partnership, your credit score may be impacted.