Announcements

Latest updates

• New lending paused for retail investors - 17th April
• Update on the secondary market: 9th April 2020

General FAQs

Phishing

• Jurisdiction
• What is phishing?
• How to recognise phishing
• What should you do if you suspect phishing
• Upfront fees

FAQs for Borrowers

What happens if I cannot repay my loan?

• I’ve received a Default Notice - what should I do now?
• I’ve received a pre-default notice - what should I do now?
• Are there any charges or additional interest applied on default?
• How can I seek independent legal advice?
• Does a default affect my Personal Credit file?
• I agreed to a payment plan, or missed payments as a result of covid19 - why am I at risk of being defaulted?

See all 10 articles

Coronavirus Business Interruptions Loans Scheme (CBILS)

• What is the Coronavirus Business Interruption Loan Scheme (CBILS): Is my business eligible, how do I apply and what is my liability
• Why is my CBILS loan offer different to what I requested in my application?

Borrowing

• ★ What fees do Funding Circle charge?
• ★ Are there any additional costs that could apply to my loan?
• What interest rate will my business pay?
• Can my business have more than one Funding Circle CBILS loan?
• Can my business pay back a loan early?
• Jurisdiction

Repaying the loan

• How do I close my account?
• Do you feedback information to the credit bureaus?
• Does Funding Circle offer payment protection insurance?
• What happens if I'm late or think I will be late paying a monthly instalment?
• How do I change repayment details for my business?
• Can I change the monthly repayment date for the loan?

See all 10 articles

Applying for a loan

• Does a company director have to apply for the loan?
• How will Funding Circle verify the identity of my business?

The funding process

• How does the funding process work?
• What happens if my loan does not become fully funded?
• Can I cancel my loan request?

FAQs for Investors

General

• What is Funding Circle?
• Who can become an investor at Funding Circle?
• Where is my money held?
• Is Funding Circle, and P2P in general, regulated?
• Can I get access to my money before the end of a loan term?
• How much will my loan parts be sold for?

See all 9 articles

Lending and Account Management

• What happens if a borrower repays a loan early?
• How do I become an investor and how do I lend?
• Are there any restrictions on loan parts that I can sell?
• How much can I lend?
• How do I download my bank statement online?
• How can I transfer money out of my Funding Circle Investor Account?

See all 10 articles

The businesses you lend to

• Who are the businesses I am lending to?
• How are the businesses I am lending to assessed?
• Can I see which businesses I am lending to and when their loan started?
• What security can Funding Circle hold on property finance loans?
• Is there a minimum loan amount for non-limited companies?
• How are the Funding Circle risk bands set?

See all 9 articles

Repayment of loan parts

• ★ What happens if a borrower misses a payment?
• Updating loan comments
• What does it mean if a loan has no risk band?
• When a company is dissolved, is that the end?
• What happens to repayments from the businesses I lend to?
• Is Bankruptcy simply a winding up process for individuals?

See all 9 articles

Tax

• What are the tax consequences of lending as a business?
• What are the tax consequences of lending as an individual?

Promotions

• Refer A Friend

The ISA account

• What is the Innovative Finance ISA?
• Can I subscribe to an Innovative Finance ISA with more than one provider each year?
• What happens if I go over my tax-free allowance?
• Can I transfer my ISA to another provider?
• Is the Funding Circle ISA flexible?
• Do repayments count towards my subscription limit?

See all 7 articles