Table of Contents [hide]
- 1 Who is Funding Circle owned by?
- 2 What interest rates are charged to the borrower at Funding Circle?
- 3 Is Funding Circle a FinTech?
- 4 What does lender funding mean for PPP?
- 5 What are the benefits of choosing Funding Circle for a borrower?
- 6 What is Funding Circle and how does it work?
- 7 Why choose Funding Circle for Your Small Business Loan?
Who is Funding Circle owned by?
Samir Desai CBE
Samir Desai CBE Samir founded and is CEO of Funding Circle which launched in 2010. Funding Circle is a global lending platform where investors lend directly to small businesses in the UK, US, Germany and the Netherlands.
What interest rates are charged to the borrower at Funding Circle?
Reasons to use Funding Circle Its annual percentage rates start around 12\% and include a one-time origination fee of between 3.49\% and 6.99\%. Funding Circle doesn’t charge a prepayment penalty, and paying off your loan early can save interest costs.
Is Funding Circle a FinTech?
Funding Circle today announced first place rankings in the Center for Financial Professionals (CeFPro) FinTech Leaders 2020 Report; winning the category of ‘Business Lending’.
Is Funding Circle an approved SBA lender?
If you are looking for an SBA loan designed to carry your business through the COVID-19 pandemic, Funding Circle was recently recognized as an official SBA lending partner.
Is Funding Circle a Fintech company?
As of September 2019, Funding Circle has facilitated over £8 billion in loans to small and medium-sized firms. The company is listed on the London Stock Exchange….Funding Circle.
| Type | Public |
|---|---|
| Industry | Financial technology, peer-to-peer lending |
| Founded | August 2010 |
| Founder | Samir Desai, CEO James Meekings Andrew Mullinger |
What does lender funding mean for PPP?
Lender Funding: This application is in the process of being funded by your lender. If the bank information you provided is valid then you will receive your loan via ACH transfer. Lenders have up to 20 days after the date on which a PPP loan is approved by the SBA to fund your loan.
What are the benefits of choosing Funding Circle for a borrower?
With Funding Circle, your loan will have a fixed interest rate and fixed monthly payment. The predictable repayment schedule can help you plan and budget for the future. We also offer a wide range of loan amounts and repayment terms, and we never charge a prepayment penalty.
What is Funding Circle and how does it work?
Funding Circle is an online peer-to-peer lending marketplace that offers secured loans up to $500,000 for small to medium-sized business owners. Small business owners applying for loans must have great credit to avoid high interest rates and the time to funding is longer than similar competitors.
Is Funding Circle currently accepting new sign-ups?
Please note: We are not currently accepting new sign-ups and have paused new lending for existing retail investors. Funding Circle is the UK’s largest marketplace lender to businesses, where people and organisations directly lend to small and medium sized businesses in the UK, helping support the core of the UK economy.
Who are the companies that have purchased Funding Circle US loans?
In September 2018, global asset management firm Alcentra agreed to purchase up to $1 billion worth of business loans from the Funding Circle US platform, on behalf of its clients. The loans would be financed by Credit Suisse over a period of three years and were expected to be provided to around 8,000 U.S. businesses.
Why choose Funding Circle for Your Small Business Loan?
In the small business sector, Funding Circle is rapidly emerging as a strong player with global ambitions. We’re the ‘Best small business loan for low APR’ by U.S. News & World Report. With rates as low as 4.99\% and no application fee, we’re here to provide you with fast, affordable business financing.