Online business lending marketplace - Funding Circle

Bringing together businesses that want to borrow money with people who want to lend it

Finance Director - Your ReassuranceWe're helping to develop an online marketplace for our members that brings together established and creditworthy businesses looking for loans of between £5k and £50k with people who want to lend money, without the involvement – or associated costs - of the banks.
 
 Access to this funding community is brought to you through our partner, Funding Circle.

Main benefits to borrowers

  • Saves you money with a lower cost finance option (estimated 25% saving compared to a bank)
  • Transparent fee structuring, which gives you the reassurance that there are no hidden costs to pay, including no early repayment fees
  • Enjoy a more personal approach to borrowing by paying interest on your loan to real people, not banks
  • Easy online access to funding marketplace
  • Ability to remain anonymous to lenders, if required
  • Plus, as a member of the Forum, you'll pay a reduced completion fee of 1.75% (2% for non Forum members).

Main benefits to lenders

  • Be seen as a socially responsible business/individual, supporting small businesses and the economy
  • Choice of who you lend to - support small businesses with characteristics you value, for example, in a local community or specific industry
  • Minimal risk, maximum return on your lending – lend between £20 and £2,000 per borrowing business
  • Clearly shows you the impact your money is making
  • Connects you with like-minded lenders and gives you access to forums to interact with them
  • Easy, no hassle lending – we credit check borrowers and get experienced underwriters to review the business before we allow them into the marketplace, then we collect and distribute repayments to lenders

How the funding community works for borrowers

  • You must be an established, creditworthy and limited (registered at Companies House) small business requiring an unsecured repayment loan of between £5k and £50k
  • Total value of the loan will be made up of smaller amounts provided by a selection of lenders
  • Interest rates are determined by the lenders, with borrowers accepting the lowest offers via a no-obligation online auction process
  • You will have to complete a series of questions about your business and the purpose of the loan
  • We will source credit information from Experian on your business, then experienced underwriters will assess your company before allowing you into the marketplace
  • In the marketplace, lenders will review your borrowing requirements or use our autobid tool to place bids comprising an amount and interest rate; your identity can remain anonymous to lenders, if you wish
  • Once fully funded, you can review the aggregated bid and either accept it at the average interest rate or wait to see if other lenders ‘bid down' the interest rate further
  • You have no obligation to accept the final rate and can reject it at no further cost

Minimum requirements for borrowers

  • At least two years' trading history or filed accounts
  • No outstanding County Court Judgements (CCJs) worth more than £250
  • Holder of a UK bank account
  • At least 50% of directors must be UK residents
Find out more
 
If you'd like to find out some more information before you buy, you can:
  • Call the Forum's member helpline on 0845 130 1722.
  • Email your question or contact information to benefits@fpb.org and we will respond on the next working day.
  • Complete the short enquiry form below and you will be contacted as soon as possible.
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