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Funding Circle  


$25,000 - $500,000 approvals in 10-12 days

Next on the list is Funding Circle, another online automated business loan firm.    Consider this loan company if your request is between $25,000-$500,000 and you want your loan extended up to a 5 year term, plus you’d like try for a really great percentage rate!     Take a look at this Graph A.


Graph A                                    Available Terms

12 months

24 months

36 months

48 months

60 months

Rates

  5.49%  - 23.29%

 7.99% - 25.79%

8.99%  -26.79%

9.79% -27.79%

10.49%  -21.29%

*An origination fee will be applied only upon approval ranging from 1.49% to 4.99%


Funding Circle takes a more traditional approach toward business funding loans.  

Now, as you can see, per the above Graph A, you can be offered a really great low interest rate.   Ultimately, the rate is determined by a combination of system scoring and underwriters.    The process is highly automated but there are human eyes that review your file.   Also you’ll have a Relationship Manager to interact, with you, any time before or during your file submission.

What do you have in mind with your business loan?     Here are a few top reasons these unsecured business loans are approved.

  • Business Acquisition,
  • Opening Second Business location,
  • Equipment Purchase,
  • Working Capital,
  • Leasehold improvements,
  • Product/service expansion,
  • Replace merchant cash advance programs,
  • Consolidation of debt,
  • And many more.    Click here for type of  unsecured business loans requests that don't qualify under this criteria. 


    

Now take a look at ...

the Funding Circle Graph B credit requirements.  No bankruptcies in last 7 years and no criminal history.       Revenues must be at least $150,000 in your most recent year.   You have to show a profit in 1 of the last 2 years.   And you have to be in business 2 years.


Graph B

Borrower FICO score           

Credit Criteria

Greater than or equal 620

Most recent revenue year       

Greater than or equal to $150,000 

 Net Income

Profit from 1 of last 2 years 

Years in business

At least 2 years

No bankruptcies in last 7 years and no criminal history,

Tax liens (business and/or personal).  The following scenarios are acceptable:  

  • Tax liens in aggregate sum <$1k filed within the past 3 years that
  • 4 or fewer tax liens (on personal or business side, not combined) filed in the last 10yrs,
  • are outstanding where the borrower is not on a payment plan,
  • Tax liens filed within the past 10 years in aggregate sum <$5k that are outstanding where the borrower is not on a payment plan.

*These are basic tax lien guidelines, Relationship Managers can answer specifics,

And no sole proprietorships or non-profits.


Still have your attention? 

Then take a look at how the process works.   Funding Circle takes 7 – 12 days from start to finish if all the required paperwork is submitted as requested.    Let’s give you the sequential steps.   

(1) You complete your 10 minute application online.  Your credit and application information are placed in the confidential portal, and your file will go to an account manager’s queue.

(2) You will hear from your Account Manager within 2 hours (during business hours) for requests of documents.

Then after your application receives a review then you’ll be asked to submit these documents:

  • 1 year Personal Tax Returns for all owners with 20% or more ownership, 
  • 6 Months Business Statements,
  • Fill out a Funding Circle business debt worksheet,
  • Interim Financials {YTD P&L and Balance Sheet} for any over $300,000 request,
  • Guarantor Form only for additional shareholders and/or guarantors,
  • 2 years Business Tax Returns.

(3)  The loan underwriters will give your file a review within 48 hours, possibly giving you a call and making you an offer.

(4) Documents will be sent express to you and you will have 10days to return these documents. 

  • Additional Documents,
  • Most recent personal bank statement,
  • Driver’s License,
  • Completed Funding Circle Wire Transfer form.  
(5) If all goes well in steps 1 – 4 then you will be funded day after receipt of required documents.   The faster the required documents are submitted, the quicker your decision is made.


That sums up the Funding Circle.   Loans range from $25,000 to $500,000, rates range from 5.49% - 27.79% and you may select  between 1 - 5 years with 1 year increments.

Business Funding Loans has A+ rating from BBB and uses bank quality technology to secure your online data.

If you are ready to get started then here is your Funding Circle link.    And if you are approved then we'd like to thank you with a $50 visa gift card

But if  this criteria is not for you then let's suggest you click back to Business Loans or feel free to call or contact us.   We hope to offer you the best funding solution for your needs.


  

"Business funding from Philadelphia to Pittsburgh, Pennsylvania"

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