On this page15 sections
- Ratings and complaints
- Funding Circle vs. competitors
- Pricing
- Step by step
- Funding Circle still availability in US
- Funding Circle legitimacy and licensing
- Funding Circle UK rates and fees
- Funding Circle US Status: No Longer Available
- Where Funding Circle Operates Today
- Funding Circle BestGuide Rating (UK)
- Complaints and what customers report
- What US businesses can use instead
- What customers say
- Alternatives
- FAQ
Funding Circle sold its US business to iBusiness Funding, a Ready Capital subsidiary, in 2024 and says it no longer operates in the United States. It is a legitimate, FCA-authorised UK lender, but it is not an option for US businesses. UK limited companies get fast decisions, published starting rates and a 4.5 out of 5 Trustpilot score from about 17,000 reviews. US readers should compare OnDeck, Bluevine or an SBA lender instead, and existing US borrowers should deal with iBusiness Funding.
- US status
- No longer operates in the United States; US business acquired by iBusiness Funding1
- US sale
- About $44 million (£33 million); Funding Circle also returned the SBA lending license it received in April 20243
- UK business loan
- about $13,000 to $994,000 (£10,000 to £750,000), secured, up to 6 years, from 6.9% a year plus a one-off completion fee, as listed October 20262
- UK government-backed loan
- Growth Guarantee Scheme loans of about $33,000 to $331,000 (£25,001 to £250,000), up to 6 years, from 13.4% a year2
- FlexiPay line of credit (UK)
- about $1,300 to $331,000 (£1,000 to £250,000); repay in 1 to 12 months; fees from 1.5% per transaction on a 1-month term2
- Speed (UK)
- Apply online in 7 minutes, decision in as little as 5 minutes, funds typically within 48 hours2
- Regulator
- Funding Circle Ltd is authorised by the UK Financial Conduct Authority, firm reference 722513; not covered by the FSCS2
- Scale
- about $23.9 billion (£18 billion) lent and more than 135,000 UK businesses supported, per Funding Circle2
Pros
- FCA-authorised UK lender with published starting rates
- Large UK loans up to about $994,000 (£750,000)
- Quote without affecting your credit score for limited companies
- No fees to settle a business loan early
- 4.5 out of 5 on Trustpilot from about 17,000 reviews
Cons
- Not available to US businesses since 2024
- Business loans carry a completion fee
- Lending is not covered by the FSCS
- Government-backed loans start at a higher 13.4% rate
- Verification and document requests frustrate some applicants
Best for: UK limited companies that want a fixed-rate business loan or a FlexiPay line of credit with a fast online decision.
Skip it if: Your business is in the US, since Funding Circle no longer lends there.
Funding Circle vs. competitors
| Company | Available in the US | Amount | Published cost |
|---|---|---|---|
| Funding Circle | No (UK only) | about $13,000 to $994,000 (about $13,000 to $994,000 (£10,000 to £750,000), UK) | From 6.9% a year (UK) |
| OnDeck | Yes | $5,000 to $400,000 term; $6,000 to $200,000 line | Average 53.2% APR term loans |
| Bluevine | Yes | Line of credit up to $250,000 | As low as 7.8% for top qualifying customers |
| Lendio | Yes (marketplace) | $1,000 to $5 million by loan type | Varies by lender |
Funding Circle pricing at a glance
Funding Circle UK products, as listed October 2026
| Product | Amount | Rate or fee | Term |
|---|---|---|---|
| Business loan | about $13,000 to $994,000 (£10,000 to £750,000) | From 6.9% a year plus completion fee | Up to 6 years |
| Growth Guarantee Scheme loan | about $33,000 to $331,000 (£25,001 to £250,000) | From 13.4% a year plus completion fee | Up to 6 years |
| Shorter term loan | about $13,000 to $994,000 (£10,000 to £750,000) | Variable; no completion fee if you apply directly | Up to 12 months |
| FlexiPay line of credit | about $1,300 to $331,000 (£1,000 to £250,000) | From 1.5% per transaction (1-month term) | 1 to 12 months per purchase |
| Cashback credit card | about $1,300 to $331,000 (£1,000 to £250,000) | From 14.9% a year, no monthly fee | Revolving |
UK only. Not available to US businesses. No fees to settle a business loan early, per Funding Circle.
Funding Circle, step by step
Check eligibility (UK)
Check in about 30 seconds. Limited companies and LLPs can get a quote without affecting their credit score.
Apply online
The form takes about 7 minutes. Have your latest accounts and a plan for the money ready.
Get a decision
Decisions can come in as little as 5 minutes, with a personalised, no-obligation quote.
Receive funds
Funds are typically paid within 48 hours of accepting the offer.
Repay or settle early
Repay monthly at a fixed rate; Funding Circle says there are no fees to settle a business loan early.
Funding Circle still availability in US
No. Funding Circle’s US page says its US business was acquired by iBusiness Funding and that it no longer operates in the United States. Trade press reported the sale at about $44 million (£33 million) in 2024, and Funding Circle returned the SBA Small Business Lending Company license it had received in April 2024, since iBusiness Funding’s parent, Ready Capital, already held one.
If you have an existing US Funding Circle loan, your loan is serviced by iBusiness Funding; contact them about payments and payoff. Do not respond to anyone claiming to offer new Funding Circle US loans.
Funding Circle legitimacy and licensing
Yes, in the UK. Funding Circle Ltd is authorised and regulated by the Financial Conduct Authority (firm reference 722513) and is part of Funding Circle Holdings plc, which is listed in London. It says it has lent about $23.9 billion (£18 billion) to UK businesses and supported more than 135,000 of them, and it has worked with the British Business Bank on government-backed loans since 2013.
Trustpilot shows 4.5 out of 5 from about 17,000 reviews, almost all from UK borrowers. Business lending is not covered by the Financial Services Compensation Scheme.
Funding Circle UK rates and fees
UK business loans of about $13,000 to $994,000 (£10,000 to £750,000) start at 6.9% a year over up to 6 years, plus a one-off completion fee. Growth Guarantee Scheme loans of about $33,000 to $331,000 (£25,001 to £250,000) start at 13.4% a year. Shorter-term loans up to 12 months have variable pricing and no completion fee if you apply directly. FlexiPay lets you split purchases over 1 to 12 months with fees from 1.5% per transaction for a one-month term. The rate you are offered depends on your business’s credit and finances.
Key Takeaway: Funding Circle (UK Expert Score: 4.4/5.0)
Funding Circle no longer operates in the United States. It sold its US business to iBusiness Funding in July 2024 and returned its SBA lending license, so US small businesses cannot apply. In its home market, the UK, it remains the largest alternative SME lender, and this review assigns a BestGuide Expert Score of 4.4/5.0 based on the current UK product. That score reflects the UK offering for eligible UK businesses; for US readers, Funding Circle is not an option and the score does not apply.
Not Available in the United States
Funding Circle exited the US market in July 2024, selling its US loan portfolio and operations to iBusiness Funding, a subsidiary of Ready Capital Corporation, and returning its SBA Small Business Lending Company (SBLC) license. US small businesses can no longer apply for funding through Funding Circle. The 4.4/5.0 score on this page assesses the company’s UK product for UK borrowers. If you are a US business seeking financing, compare current US-available small business lenders instead.
This review serves two audiences. For US readers, the headline is simple: Funding Circle left the United States in 2024 and is no longer a lending option here. For UK readers, where it is the country’s largest alternative business lender, this review assesses the current UK product on its merits and assigns a BestGuide Expert Score of 4.4/5.0. The sections below cover the US exit first, then evaluate the UK offering.
Funding Circle US Status: No Longer Available
Funding Circle is no longer available to US businesses, with no announced plan to return. In June 2024, Funding Circle Holdings agreed to sell its US subsidiary to iBusiness Funding, the lending division of Ready Capital Corporation (NYSE: RC), for about £33 million (roughly $42 million); the deal closed at the end of June 2024. As part of it, Funding Circle returned the SBA Small Business Lending Company (SBLC) license it had received in April 2024, before issuing a single SBA 7(a) loan under it.
The existing US portfolio moved to iBusiness Funding, which continues SBA-focused lending under Ready Capital, while Funding Circle refocused on its UK home market. For US applicants, Funding Circle is not an option; evaluate currently available US lenders instead. The rest of this review covers the UK product and does not apply to US borrowers.
Where Funding Circle Operates Today
Funding Circle now lends only in the United Kingdom. It previously ran operations in the US (sold 2024), Germany and the Netherlands (closed 2020), and Spain (exited 2017), but new lending today is UK-only. It remains the UK’s largest alternative SME lender. The assessment that follows applies to UK borrowers only.
Funding Circle BestGuide Rating (UK)
Funding Circle earns a BestGuide Expert Score of 4.4 out of 5.0, assessed on its current UK product for eligible UK businesses. BestGuide scores every brand against five criteria using a consistent methodology; read more about how BestGuide calculates Expert Scores. The US Availability criterion is shown at 0% for transparency and is informational only; because the platform is no longer offered in the US, it does not factor into the overall UK score, which is the average of the four merit-based criteria below.
- Customer Satisfaction (90/100): A historical Trustpilot rating around 4.5/5.0 and strong borrower sentiment in the UK.
- Reputation (90/100): The UK’s largest alternative SME lender, FCA-regulated, LSE-listed, and profitable, with £46.0 million in 2025 net income.
- Transparency (85/100): Published rates from around 6.9% APR, a clearly disclosed 1% to 3% completion fee, and no early repayment charge.
- Services (85/100): Term loans, FlexiPay revolving credit, a business credit card, and Growth Guarantee Scheme access; held back slightly by the lack of secured or asset-based options.
- US Availability (0/100, informational): Funding Circle is not available to US businesses. This criterion is shown for transparency and is excluded from the overall UK score.
What customers say about Funding Circle
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- Fast decisions and payouts
- Helpful UK-based account managers
- Simple online application
Common complaints
- Document and verification requests
- Changing account managers
- Declines after a long application
Complaints and what customers report
UK reviews praise quick decisions and helpful account managers. Complaints mention repeated document and identity checks, changing account managers and declines after a long application. If you cannot resolve a complaint with Funding Circle, eligible micro-enterprises and small businesses can take it to the UK Financial Ombudsman Service. US readers searching for Funding Circle complaints are often existing borrowers whose loans moved to iBusiness Funding.
What US businesses can use instead
US businesses that wanted a Funding Circle term loan can compare OnDeck, which publishes average APRs, Bluevine for a line of credit up to $250,000, or Lendio to see several lenders at once. For larger, longer loans at lower rates, SBA 7(a) loans through an SBA-approved lender are usually cheaper; the SBA’s free Lender Match tool can connect you with one.
Alternatives to Funding Circle
- OnDeck A US online lender with term loans similar to Funding Circle’s former US product. Read review
- Bluevine A US line of credit up to $250,000 with published starting rates. Read review
- Lendio Compare several US lenders, including SBA lenders, with one application. Read review
- SBA Lender Match A free SBA tool that connects US businesses with SBA-approved lenders, usually at lower rates than online lenders.
Funding Circle reviews
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Frequently asked questions
Is Funding Circle still in business?
Yes, in the UK. It no longer operates in the United States after selling its US business to iBusiness Funding in 2024.
Who bought Funding Circle US?
iBusiness Funding, a subsidiary of Ready Capital, acquired Funding Circle's US business in a deal reported at about $44 million (£33 million).
I have a Funding Circle US loan. Who do I pay?
Existing US loans moved to iBusiness Funding with the sale. Contact iBusiness Funding using the details on your loan statements for payments and payoff quotes.
Is Funding Circle legitimate and safe to use?
Yes. Funding Circle Ltd is authorised by the UK Financial Conduct Authority (firm reference 722513) and has lent about $23.9 billion (£18 billion) to UK businesses, according to the company.
What are Funding Circle's interest rates?
UK business loans start at 6.9% a year and Growth Guarantee Scheme loans at 13.4% a year, as listed October 2026, plus a completion fee. Your rate depends on your business.
How much can I borrow from Funding Circle?
UK business loans range from about $13,000 to $994,000 (£10,000 to £750,000). The FlexiPay line of credit and Cashback card go up to about $331,000 (£250,000).
How fast does Funding Circle pay out?
Funding Circle says decisions can take as little as 5 minutes and funds are typically paid within 48 hours of accepting an offer.
Does applying to Funding Circle affect my credit score?
Limited companies and LLPs can get a quote without affecting their credit score, according to Funding Circle. A full application involves credit checks with Experian and TransUnion.
Can I invest with Funding Circle?
Funding Circle's current site is focused on lending to businesses. Check its institutional investors page for current options, and remember business lending is not FSCS protected.
What is a good Funding Circle alternative in the US?
OnDeck and Bluevine are online US lenders with published requirements, Lendio compares many lenders, and SBA Lender Match connects you with SBA-approved banks.
Sources (7)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- Funding Circle: United States (US business acquired by iBusiness Funding) (accessed October 12, 2026)
- Funding Circle: UK home page and products (accessed October 12, 2026)
- Banking Dive: Funding Circle sells its US unit to iBusiness Funding; Ready Capital returns SBLC license (accessed October 12, 2026)
- Funding Circle: How to get a business loan (accessed October 12, 2026)
- Trustpilot: Funding Circle reviews (accessed October 12, 2026)
- Funding Circle Holdings plc: Agreement reached with iBusiness Funding to acquire Funding Circle’s US business (accessed October 12, 2026)
- SBA: Lender Match (accessed October 12, 2026)
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