General FAQs
Phishing
FAQs for Borrowers
Recovery Loan Scheme (RLS)
BOUNCE BACK LOAN SCHEME (BBLS)
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?
Coronavirus Business Interruptions Loans Scheme (CBILS)
- What happens if I think I may miss a repayment on my CBILS loan?
- Where can I find the Terms and Conditions for my Coronavirus Business Interruption Loan?
- How do I repay my CBILS loan early?
- Can I repay my CBILS loan early?
- What is the Coronavirus Business Interruption Loan Scheme (CBILS): What is my liability?
Borrowing
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?
Early Settlements
- How do I settle my loan?
- Will I be charged for settling my loan early?
- In what scenario could I be charged more than what is in the settlement figure?
- Why could further interest accrue if I have sent in the funds?
- Is any further information required when settling my loan?
- What contact details will Funding Circle use to contact me?
Applying for a loan
The funding process
FAQs for Investors
General announcements
General
- Retail Outcomes Calculations
- 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?
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?
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?
Repayment of loan parts
- ★ What happens if a borrower misses a payment?
- New Loan Comments Process
- 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?
Tax
Promotions
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?