Funding Circle
UK business loans, FlexiPay credit line and cashback card from London
Quick Overview
| Company | Funding Circle Ltd |
|---|---|
| Category | Business Lending Platforms |
| Headquarters | London, United Kingdom |
| Founded | 2010 |
| EU Presence | Yes - United Kingdom (FCA authorised) |
| Data Location | not stated on the pages we read |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Business loans, FlexiPay credit line, cashback business credit card, asset finance through partners |
| Pricing | not shown on the pages we read; the site states decisions in as little as 5 minutes and a 7 minute application |
| Best For | UK small businesses that want a term loan or a revolving credit line from an established lender |
| Replaces | BlueVine Term Loan, BlueVine Line of Credit |
Detailed Review
Funding Circle Ltd is authorised and regulated by the Financial Conduct Authority under firm registration number 722513. The company is registered in England under company number 06968588 with its registered office at 71 Queen Victoria Street, London. Funding Circle Ltd states that it is not covered by the Financial Services Compensation Scheme.
Funding Circle states that it was founded in 2010 and has helped over 135,000 UK businesses borrow 18 billion pounds. The UK page lists fast business loans, the FlexiPay credit line, a cashback business credit card and asset finance through partners.
Which products does Funding Circle list?
Funding Circle lists four products on its UK page: business loans, FlexiPay, a cashback business credit card and asset finance through expert partners. The site states decisions in as little as 5 minutes and an application time of 7 minutes.
FlexiPay is described as a flexible, on-demand credit line. The FlexiPay account and payment services are provided by Modulr FS Limited, and the FlexiPay card is issued by Monavate Ltd.
Who stands behind Funding Circle?
Funding Circle Ltd is the contracting entity named in the legal documents and the privacy policy. The legal page lists a Borrower Agreement for loan applications started on or after 1 April 2021.
The German page of Funding Circle states that new requests are not accepted at the moment. The pack does not say whether other European markets are open.
Funding Circle as a European alternative to BlueVine
Funding Circle gives UK businesses a term loan and a credit line from a UK company, where BlueVine offers a line of credit up to $250K and a term loan up to $500K through US lending partners.
BlueVine adds business checking and payments in one app. Funding Circle lists no current account in the pages we read.
Limitations to Consider
Funding Circle does not show loan sizes, rates or fees in the text we read, so the price of a loan cannot be compared. Applications in Germany are closed per its own page. The FlexiPay account runs through Modulr, so banking features sit with a third party. Compare iwoca for a stated size range.
Who Should Use Funding Circle
UK limited companies that want a term loan or on-demand credit line and accept that terms appear only after an application.
Pros and Cons
Pros
- FCA-authorised UK lender with company number published
- Term loan, credit line, card and asset finance on one site
- Decision in as little as 5 minutes, per the site
- Borrower agreement and legal documents published
- Long operating history since 2010
Cons
- Loan sizes and rates not shown in the text we read
- German applications are closed
- Not covered by the FSCS
- No current account in the text we read
Alternatives to Funding Circle
Other European business lending platforms worth comparing before you decide:
See all European business lending platforms or compare them directly against BlueVine Term Loan on our alternatives page.
Frequently Asked Questions
For UK businesses, yes. Funding Circle Ltd is an FCA-authorised company in London that offers business loans, the FlexiPay credit line and a business credit card.
Not at the moment. The Funding Circle Germany page states that new requests are not accepted. The UK site is the one that lists current products.
The pages we read do not list rates or loan sizes. They state decisions in as little as 5 minutes and a 7 minute application, and terms come after applying.