Broker FAQs

Top-ups launch

Which customers will get access to a top-up?

Funding Circle routinely pre-selects customers deemed eligible for a top-up on their shorter term loan. However, eligibility is decided at Funding Circle’s discretion. Please note that:

• Customers must be up to date on all repayments
• Pre-selection isn’t indefinite and will be based on continued credit monitoring

What will my commission look like?

You’ll earn 5% trial commission. The same rate will apply across all tiers. Please note that:

• The broker who made the application that funded the shorter term loan will be paid trail commission on any successful top-ups on that loan

For example:

• Original principal of the shorter term loan is £100,000

• At the time of the top-up, the principal remaining is £80,000

• The top-up amount is £50,000

• The new principal amount is £130,000

• Commission is 5% of £50,000, which is £2,500

How’s trail commission paid?

Commissions will be paid into the broker portal automatically on completion of the top-up, as standard. You’ll find all details on the normal commission statement.

How will I know when customers have top-ups available?

You’ll need to view the borrower portal to see when a customer has a top-up available. Pre-selection for top-ups won’t be visible in the broker portal.

• Customers will access their top-up through the borrower portal. They can speak with our support teams if they need additional support to complete final lending checks.

• Customers will receive emails to let them know that they have a top-up available.

• Once a customer logs in to their portal to complete final eligibility checks for their top-up, our support team will help them through the final steps.

• The borrower portal also allows customers to self-serve outside of accessing a top-up, including loan overpayments and early settlement.

You can continue to speak with your BDM or BAM for updates on active top-up opportunities. Commission earned through top-ups will be visible in the normal commission statement.

Is a top-up guaranteed to be paid out once the customer’s notified?

No, we’ll complete most of our credit assessment as part of the pre-selection process. However there are some final checks we’re unable to perform without the customer, before finalising our offer.

Some customers may be rejected for the top-up as part of our final checks. This doesn’t always exclude them from applying for new funding from Funding Circle, as they may only be ineligible for a top-up.

There’s no hard credit checks at any stage of the top-up process, only soft searches. That results in no risk to a customer’s credit file.

Who is the Sales Support Team?

Our Sales Support Team are experts in our post-offer loan closing process. They help customers complete the final steps before drawdown of funds. However, they’re not incentivised based on volume or value, and focus solely on any documents needed to move quickly from top-up offer to payout. In addition to helping with any relevant questions the customer has.

Most customers won’t need to supply new documents or personal guarantees to check their eligibility. If a customer would like a new loan or wants to explore their options, we’ll ask them to get back in contact with you to discuss further.