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Also sometimes called “term loans,” installment loans deliver a lump sum of cash upfront in exchange for a promise to repay the amount borrowed plus accumulated interest or a flat fee. Funding Circle Reviews, Complaints, & Testimonialsįunding Circle offers installment loans.However, businesses that have the time and resources might want to see if they can get better rates from a bank. Although slower than some other online lenders, the Funding Circle application process is faster than many banks. However, if you don’t have the time or don’t want to deal with a long, complicated application process, Funding Circle is definitely an alternative worth considering.įinal Verdict: Funding Circle is a good option for small businesses at least two years old. The caveat is this: businesses that qualify for Funding Circle will most likely be able to get a better rate from an actual bank. However, if you do meet the qualifications, Funding Circle can be a good lending option. Unfortunately, these requirements rule Funding Circle out as an option for less-established small businesses and startups. Aside from interest and an origination fee, Funding Circle charges no fees (as long as you make payments on time) and has competitive rates. Term lengths range from six months to seven years. This review focuses specifically on the US branch of Funding Circle.įunding Circle offers installment loans (commonly referred to as term loans) to established businesses. Not available to businesses in some industries.Financing isn’t available in some states.Borrower qualifications might be hard to meet.
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