Sep 24, 2021 . 4 Minutes Read
Invoice Financing
Check if You Qualify for
a Business Loan in 30 Seconds
Expand, buy new equipment, hire staff or manage cash flow — whatever your business goals, our loans can lend a hand.
Build the future your way with an affordable business loan
Boost your cash flow
Pay business expenses
Help with payroll
Manage uncertainty
Grow your business
Cover revenue gaps
A Funding Circle small business loan can be much more affordable than a business overdraft or credit card. You’ll get fixed monthly repayments so you can plan with confidence and there’s no fee if you want to pay off your loan early in one go.
Our simple loan application process means you can stay focused on running your business, and you can speak to our team of UK-based Account Managers if you need any assistance.
How does it work?
Check if you qualify in 30 seconds
See if you’re eligible without affecting your credit score
Apply online in 10 minutes
Complete our simple form with your details, and we’ll only ask for supporting documents if we need them
Get approved in as little as 1 hour
If approved, you’ll receive no-obligation offer with your personalised rate
Get your funds in a couple of days
Once you accept your offer we'll deposit the money into your account - typically within 48 hours
What is a business loan?
A business loan is money lent to a business that is specifically intended for business purposes that must be repaid over a period of time with added interest.
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:
Have been trading for 1 year or more
Be based in the Saudi Arabia
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:
Review your financials
Improve your credit score
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
What’s the difference between a business loan and a 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.
Types of business loans
Recovery Loan Scheme (RLS)
Company Loans
Unsecured Business Loans
Self Employed Loans
Working Capital Loans
Asset Finance
Check your eligibility
Check your eligibility in 30 seconds with our
online form without affecting your credit score.
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:
You're buying assets that will add long-term value to your business
You require additional funds to grow or expand your business
You wish to improve your business credit score
You need help managing your cash flow
A business loan may not be right for you if:
You cannot find a loan of the correct amount with suitable terms
You are not certain you can afford repayments
You have recently been refused a business loan
You have used up all existing lines of credit
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.
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 5 hours.
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 7.9% 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.
What is a
business loan?
There’s no fee if you want to settle the loan early. 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.
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 financials.
How much can I borrow?
At Funding Circle, you can apply for a small business loan of £10,000-£500,000. If you want to take out a loan under the Government’s Recovery Loan Scheme (RLS), you can borrow £25,001-£350,000.
What are the interest rates for a business loan?
With interest rates starting from 7.9% 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, and there’s no fee if you want to pay off your loan early in one go.
How long can I borrow for?
Terms are available from 6 months to 6 years. There’s also no fees for full early repayment, so you can settle early at no extra cost.
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:
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, you’re able to settle your loan early at any time and there are no fees for full early repayment.