Funding Circle has hit upon a great way of securing finance for SMEs in the UK. They connect businesses which are creditworthy with money lenders looking to invest in fledgling companies with potential. The platform offers more transparency than traditional lending, and claims to have helped no fewer than 35,000 businesses to date. After an application is made, Funding Circle reviews and accepts, providing creditworthiness can be proven. They take care of all the distribution of repayments to investors, too.
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3.0 out of 5 stars (based on 1 review)
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not ideal
14th July 2024
not ideal
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Alternatives
| Business Loan Provider/Broker | How much can you borrow? | How much does it cost? |
|---|---|---|
| Loans from £1000 to £20M | We will not charge you any fee for our service as we receive payment directly from the lender(s) based upon successful provision of finance |
 | £1,000 to £500,000 | If you borrowed £10,000 for 12 months at 49% representative APR, with an interest rate of 40% p.a. (variable), then, all in all, the total amount you’d repay would be £12,294. |
 | £10,000 to £500,000 | From 6.9% per year + Origination Fee, 4.49% to 10.49%, A single one-time fee to cover the costs of evaluating and originating your loan |
 | Up to £250k with uncapped 1% cashback on all card spend. | The Capital on Tap Business Credit Card rates can range from as low as 15.5% to 35.15% (variable). |
