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Updated: Dec 19, 2018
At Funding Circle, our goal is to revolutionize the outdated banking system and secure a better deal for everyone. So whether you’re a business owner who aspires to do more, or an investor who wants your money to go further, we believe in you.
The recession of 2008 presented a problem: while businesses struggled to survive, big banks clamped down on small business lending, making it even more challenging for independent businesses to thrive. Even now, over a decade later, banks remain unfocused on small businesses — it’s just not profitable for them to dedicate the time and resources. Meanwhile, more forms of predatory lending have taken hold of the market — ones with tricky hidden fees and outrageous APRs.
Funding Circle looks at the world a little differently. We consider it an honor to support small businesses — after all, they’re the driving force of our global economy. When they succeed, we all do.
Our U.S. co-founders started Funding Circle because they were small business owners themselves, and had experienced firsthand how hard it is to access affordable and transparent financing. They found themselves either rejected or offered terms that simply didn’t make sense over 96 times! When they couldn’t get a loan to grow their gym business — despite the company’s great success — they knew something was wrong and set out to build a better solution for American small business owners.
At Funding Circle, we think that all small business owners — not just our own applicants — deserve an honest and fair experience. That’s why we created the Responsible Business Lending Coalition and the Small Business Borrowers’ Bill of Rights, the first-ever gold standard for small business lending. We believe all lenders should be transparent, because you deserve to be empowered by information to make the best decision for your business. From a right to fair pricing to a right to fair collection processes, we believe in putting business owners front and center in our products and policies.
Additionally, we helped start the Marketplace Lending Association, with the goal of promoting an efficient and customer-friendly financial system by supporting the responsible growth of marketplace lending, fostering innovation in financial technology, and encouraging sound public policy.
We set out to build a better financial world, in short, because small businesses deserved one. We’ve created a company that’s 100% focused on small businesses, and built a product tailored specifically to your needs.
In doing so, we developed technology that accelerated the lending process. After all, time is money for small business owners, and we don’t want to hold anyone up. Our applicants wanted a catered customer experience, so we rolled out white glove service — when you apply, you’re assigned a dedicated account manager who wants to hear about your business and how the loan can help you. No more endless phone trees. To help your business thrive, we’ve taken the best parts of an SBA loan — like fixed and affordable once-monthly payments and no prepayment penalties — and created something faster and more flexible.
To date, we’ve lent $7.8 billion and counting. Powered by over 85,000 investors, including governments, individuals, and financial institutions, we’ve helped over 56,000 small businesses around the world get fast, easy access to financing that has helped them grow, create jobs, support local communities, and drive the economy forward. From accountants and jewelers to doctors and filmmakers, we believe that when small businesses succeed, everyone benefits. We hope you’ll join us.