We built Funding Circle to provide small business owners with a transparent and affordable way to access financing. Unlike some other lenders, we always disclose rates and fees upfront so you never have to worry about hidden costs. With low fixed rates and a single, one-time origination fee, you can save more with Funding Circle.
APR, or annual percentage rate, is a figure that tells you the true cost per year of borrowing money. It’s the true cost of a small business loan because unlike the interest rate, APR also takes into account additional fees and charges that are too often hidden in the fine print.
Our interest rates range from 4.99% – 24.99% and our APR ranges from 8.75% – 32.16%. Our seasoned team of underwriters use their small business expertise as well as hundreds of traditional and alternative data points to determine your rate.
We know that the small businesses are more than their credit score. We take a holistic approach when determining a small business’ creditworthiness. Our dedicated account reps will work with you to learn about everything from your real–time cash flow to your business assets.
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.
Charging someone to pay off their loan early just doesn’t make any sense. At Funding Circle, we celebrate your success – if you are able to pay off your loan early, go ahead.
We have no prepayment penalties – meaning if you decide to pay your loan off early, you won’t get charged extra.
If you pay off your loan early, you will only pay interest on the time you borrowed.
Our pricing structure is simple and transparent. We won’t try to nickel-and-dime you by tacking on surprise fees.
|Origination Fee||3.49% to 6.99%||A single one-time fee to cover our costs of evaluating and originating your loan. The fee is based on the strength of your credit profile and is deducted from your total loan proceeds, which means you do not pay this fee if you do not receive a loan.|
|Late Payment Fee||5% of missed payment||If your monthly payment is late, you will be charged a fee on the missed payment. This fee is added to your original monthly payment, withdrawn from your account and passed directly onto investors.|
We’re transparent about our rates and fees because we believe you have a right to know the true cost of your loan. Here are some fees to look out for with other lenders.
No servicing fees
No account management fees
No monthly processing fees
No transaction fees
No prepayment fees
No monthly maintenance fees
No lockbox fees
No guaranty fees
No administration fees
See how affordable your repayments could be using our business loan calculator.
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 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.
2 If your business is organized as a general partnership, your credit score may be impacted.