Small Business Loans | Borrow £10k - £750k | Funding Circle

Decision within 1 hour, funds typically in 48 hours

Expand, buy new equipment, hire staff or manage cash flow — whatever your business goals, our loans can lend a hand

Apply as a limited company without affecting your credit score

Excellent

16,880 reviews

Funding Circle has worked with the British Business Bank since 2013, supporting thousands of businesses as one of the largest providers of Government-backed loans including through the Growth Guarantee Scheme.

Calculate how affordable a Funding Circle loan can be

Use our calculator to see what your monthly repayments could cost or get your personalised rate

Amount you wish to borrow

£

*Amount must be between £10,000 to £750,000

For how many months?

6
12
24
36
48
60
72

* Calculations are indicative and intended as a guide only. You may be offered different terms. Based on average rate of our lowest risk businesses, and current fees, which may be subject to change.

Monthly repayment *

£4,815

Show breakdown

Loan amount £100,000
Completion Fee £6,900
Interest £8,668
Total amount repayable £115,568

We’ve helped over 135,000 UK businesses borrow £18 billion to take their business further.

£18 billion

Lent to UK businesses

Bass Place

Double Bass Workshop
London

"I would recommend Funding Circle one hundred percent to others. It was beyond my expectations how easy application and the fulfilment of the loan was"

Get a personalised quote without affecting your credit score

If you’re a limited company or LLP, you can get a loan decision without affecting your credit score. So you can assess your options with complete peace of mind.

  1. 1
Check if you qualify in 30 seconds

See if you qualify with no fuss

  1. 2
Apply online in 7 minutes

Tell us about you and your business in our online form

  1. 3
Get your decision in as little as 1 hour

If approved, you’ll get a personalised, no-obligation quote

  1. 4
Funds paid out typically within 48 hours

Once you accept your offer, we’ll deposit the funds into your account

How do business loans work?

When you get a business loan, your loan provider will lend you a lump sum of money, which you then repay over an agreed period with added interest. The money must be used for business purposes, such as marketing, equipment or growth.

Am I eligible for a business loan?

To be eligible to apply for a loan with us, you need to:

What's the difference between a business loan and personal loan?

A business loan is intended for business use only such as buying stock or upgrading equipment, whereas a personal loan is intended for personal use, such as financing a car or making home improvements.

What are the different types of business loan?

Business loans can take different forms and provide specific needs for specific types of businesses and business needs. Types of business loans include:

  1. Unsecured Business Loans
  2. Working Capital Loans
  3. Company Loans
  4. Self Employed Loans
  5. Asset Finance
  6. Government-backed Loans

What if I've been refused a business loan in the past?

If you have been refused a business loan in the past there are a few steps you can consider before you apply for another loan:

  1. Review your financials
  2. Improve your credit score
  3. Address any outstanding debts

Once you’ve taken these steps you may be in a better position to reapply for a small business loan again.

Are business loans hard to get?

We want to help as many businesses as we can get access to finance, and approve thousands of loans every year. To make it easier for business owners, we’ve made applying for a small business loan fast and hassle-free. You can apply for business lending online.

How much will a business loan cost?

The amount your loan will cost will depend on the amount of money you want to borrow, your interest rate and your loan term. We charge a one-off completion fee when you take out your loan, and your interest rate will be calculated based on a number of factors, including your credit score and finances.

There’s no fee if you want to overpay more than your contractual amount or pay off your loan early in one go. All our loans are fixed rate, so you’ll know exactly how much you’ll need to repay each month and what the cost of borrowing is.

How much can I borrow?

At Funding Circle, you can apply for a small business loan of £10,000 to £750,000.

What are the interest rates for a business loan?

With interest rates starting from 6.9% per year, a Funding Circle small business loan can be much more affordable than a business overdraft or a business credit card. You can also take an unsecured loan without putting down property or assets as a security. There’s no fee if you want to overpay more than your contractual amount or pay off your loan early in one go.

How long can I borrow for?

Terms are available from 6 months to 6 years. You can also make an overpayment (more than your contractual monthly amount) on any Funding Circle business loan, or settle your loan early in full with no fee.

Do I need a personal guarantee?

If you’re approved for a Funding Circle business loan, a personal guarantee will be required.

What documents do I need for a business loan?

After you have completed our online form, you’ll need to send a few documents to finish your application. We may require:

Business bank statements for up to the last eight months
They must show:

  1. The Account name and (where possible) the registered address. These must match the business you create the loan application for.
  2. The sort code and account number.
  3. All daily transactions.

Latest full unabbreviated accounts
This must include:

  1. Profit and loss
  2. Detailed profit and loss
  3. Balance sheet information

When do I need to start repaying my business loan?

Your monthly payments will start one month after Funding Circle funds your loan.

To make sure your payment is processed in time for the repayment date on your contract, we will take the direct debit payment up to 5 days before it is due.

For example, if we fund your loan on June 6, then we will take your first payment on July 1 and each subsequent payment will be taken on the 1st of that month.

Can I repay my business loan early?

Yes, our business loans come with no early settlement fees, meaning you can overpay more than your contractual amount or settle the entire facility whenever your cash flow allows. This means you could actively save on interest. They also come with a fixed-rate, allowing for more accurate financial forecasting.

Is a business loan right for me?

Before considering a small business loan, you should take some time to work out whether a loan is your best option. Business loans can be used to refinance existing debt, or support your business through times of financial hardship.

You should never take out a business loan if you’re worried about whether you can meet the repayments.

A business loan could be right for you if:

A business loan may not be right for you if:

Improving your credit score can better your chances of getting a business loan. You can find some advice on how to boost your score here.

How do I qualify for a small business loan?

Qualifying for a small business loan depends on your situation and we take a number of factors into account. Unfortunately, you won’t qualify for a Funding Circle loan if you have been trading for less than one year.

To find out if you qualify, apply for a business loan here.

When will I get a decision on my small business loan?

You’ll get a decision on your small business loan in as little as 1 hour.

What are business loan terms?

“Loan terms” refer to the agreed details involved when borrowing money such as repayment period and loan interest rates.

With a business loan from Funding Circle you can borrow over 6 months to 6 years, with interest rates starting from 6.9% per year.

What happens if I think I may miss a repayment on my business loan?

If you are worried about your upcoming repayment(s), it is important that you contact us on 0203 966 1191 as soon as possible to discuss your options.