About Funding Circle
Funding Circle (LSE: FCH) operates as a direct lending platform for business loans. The platform offers a variety of loans and features such as self-employed loans, unsecured business loans, a business loan calculator, recovery loan schemes, and more. It was founded in 2010 and is based in London, United Kingdom.
Expert Collections containing Funding Circle
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Funding Circle is included in 4 Expert Collections, including Fintech 250.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.
Excludes US-based companies
Latest Funding Circle News
Sep 13, 2023
Funding Circle has made personal guarantees a requirement for all borrowers seeking funds through the new iteration of the recovery loan scheme (RLS), which the lender was recently approved to offer. The government-backed lending scheme is being administered by 53 lenders, including a handful of alternative lenders. Funding Circle was approved to offer the scheme last month. Each lender has the flexibility to decide whether or not to request personal guarantees under the terms of the RLS. Funding Circle asks for a personal guarantee on all of its loans, including those under the RLS. However, it has added the provision that principal private residences cannot be taken as security. In a blog post explaining the terms of its RLS offering, Funding Circle confirmed that it can offer loans ranging in value from £25,001 to £250,000 with terms from two to six years. There will be no early settlement fees, and the platform can offer a decision to borrowers in as little as one hour. Eligible borrowers must have a turnover of up to £45m, and they must have been trading in the UK for a minimum of two years. The loan must be used for business purposes such as working capital or investment, and the company should not be in difficulty or have any collective insolvency proceedings ongoing. “We’re delighted that we’re offering the government’s RLS once again, which allows us to yes to even more businesses and help them adapt during challenging times,” said a platform spokesperson. “Thanks to our innovative technology, you only need to fill in one, simple 10-minute application on our website. Then, we’ll assess which product is right for you on the best possible terms, with a decision coming in as little as one hour. “If we can offer a business a loan on similar or better terms without RLS, we will do so.” The new iteration of the RLS follows on from a previous scheme, which Funding Circle also delivered. The former peer-to-peer lending platform also offered the government-backed coronavirus business interruption loan scheme, which was a precursor to the RLS.
Funding Circle Frequently Asked Questions (FAQ)
When was Funding Circle founded?
Funding Circle was founded in 2010.
Where is Funding Circle's headquarters?
Funding Circle's headquarters is located at 71 Queen Victoria Street, London.
What is Funding Circle's latest funding round?
Funding Circle's latest funding round is Corporate Minority - P2P.
How much did Funding Circle raise?
Funding Circle raised a total of $639.79M.
Who are the investors of Funding Circle?
Investors of Funding Circle include T. Rowe Price, Heartland, Nesta Open Up Challenge, Index Ventures, Union Square Ventures and 11 more.
Who are Funding Circle's competitors?
Competitors of Funding Circle include Zopa, CircleUp, SteadyPay, iwoca, Nuula and 15 more.
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