General
For Your Eyes Only - Internal FAQs
Announcements
Latest updates
The Funding Circle ISA
Update to our Collections and Recoveries process
General FAQs
General FAQs
- What is Funding Circle?
- How can I contact Funding Circle?
- Is Funding Circle regulated?
- Is the peer-to-peer lending industry regulated?
- What happens if Funding Circle goes out of business?
- Who is Funding Circle backed by?
Phishing
FAQs for Borrowers
Borrowing
- ★ Are there any additional costs that could apply to my loan?
- ★ What fees do Funding Circle charge?
- Jurisdiction
- Upfront Fees
- Can my business have more than one Funding Circle loan?
- Can my business remain anonymous when borrowing?
Repaying the loan
- Are Funding Circle members of the Credit Services Association?
- 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?
Applying for a loan
- What happens if I pass the assessment process?
- How is the risk band of my loan determined?
- Can I change the amount I want to borrow after applying?
- How do I apply for a loan?
- How long does it take for Funding Circle to review a loan application?
- Does a company director have to apply for the loan?
Loan request page
The funding process
Validis
- What is Validis?
- How does it work?
- How much will it cost me?
- How do you know Validis is secure?
- Which accounting data will be submitted?
- Can Funding Circle extract my data without me knowing?
Property finance
- What happens if I have an outstanding property development loan with Funding Circle?
- Why have Funding Circle stopped approving new property development loans?
- Does Funding Circle offer property development finance?
- How will my repayments work?
- Will I receive all the money for my development loan in one payment?
- How long will it take to get my money?
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FAQs for Investors
Lending
- Why did Funding Circle scale down new property development lending?
- Who can become an investor at Funding Circle?
- How much can I lend?
- How do I lend?
- Who can I lend to?
- What happens to repayments from the businesses I lend to?
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?
- What security can Funding Circle hold on property finance loans?
- Is there a minimum loan amount for non-limited companies?
- Who are non-limited companies?
Repayment of loan parts
- ★ What happens if a borrower misses a payment?
- What happens if a property loan is late?
- When do I receive my principal back if I lend to a development loan?
- How will property investment loans be refinanced at the end of the loan term?
- How will repayments work on a property loan?
- One of the businesses that I have lent to is about to enter a Creditors’ Voluntary Liquidation procedure. What shall I do?
Tax
My account
- How do I download my bank statement online?
- I wish to make a complaint, what are the next steps?
- What does it mean to be a Retail Client?
- What happens in the event of an investor’s death?
- How do I close my account?
- How can I transfer money out of my Funding Circle Investor Account?
Buying and selling loan parts
- What does it mean if a loan has no risk band?
- What is accrued interest?
- Are there any restrictions on loan parts that I can sell?
- Can I withdraw a loan part that has been put up for sale?
- How much will my loan parts be sold for?
- Why do I have negative interest?
Refer a friend promotion
- Where can I find the terms and conditions to the offer?
- How will the Amazon.co.uk Gift Card be paid to me?
- My friend has transferred over £2000; when will we receive our Amazon.co.uk Gift Cards?
- By what date do I need to have met the qualifying transfer amount?
- I have been referred by two different people, who will be eligible for the Amazon.co.uk Gift Card?
- I set up an account before my friend referred me, am I still eligible?
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Mobile App
Glossary of terms for property loans
- AST or Assured Shorthold Tenancy Agreement
- Tenancy agreement
- Annual rental uplift
- Net lease
- Property Specialist
- Refinance risk
WHOLE LOANS
- What are ‘whole loans’?
- How will whole loans work?
- Who will be lending?
- Will this lead to fewer lending opportunities for individual investors?
- Will investors be able to sell whole loans on the secondary market?
- How are the rates set for whole loans?
The ISA account
- What businesses will I lend to through a Funding Circle ISA?
- Can I transfer my existing ISA subscriptions to a Funding Circle ISA?
- What businesses will I lend to through a Funding Circle ISA?
- Can I transfer my ISA to another provider?
- What is the Innovative Finance ISA?
- Who can open a Funding Circle ISA?
Government-backed British Business Bank programme
General FAQs
- When will the British Business Bank programme receive its money back?
- What is the British Business Bank Investment Programme and how does this relate to the Business Finance Partnership programme?
- Why is the British Business Bank programme lending money to small businesses through Funding Circle?
- Will it be clearly signposted on the marketplace that the British Business Bank programme is funding a proportion of the loan?
- If a loan is not fully funded will the British Business Bank programme top-up the outstanding amount?
- How will the lending work?