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Are there any additional costs that could apply to my loan?

Are there any additional costs that could apply to my loan?

If you have a loan through the Government’s Recovery Loan Scheme (RLS) or a Funding Circle business loan that you’ve taken out post April 2021, you can view any additional costs that may apply to your loan on our Fees & Charges Tariff document here.

If you have taken a loan through the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) or have a Funding Circle business loan that you’ve taken out pre-April 2020, you can find the costs that may apply to your loan below:

1 ) If borrowers are late in their repayments, we may apply an administration fee of up to 15% of the arrears, as provided for in clause 9.5 of the Terms and Conditions for Borrowers.

2) As per clause 5.4 of the Loan conditions, borrowers whose loans are placed into default, or who are more than 90 days late may be charged an additional collections charge up to the amount set out in the table below (but also capped at 15%) of the outstanding loan amount at the time of default. These charges will be in addition to what is owed to investors.

The collections charges will be deducted from recovery payments, but will be capped at 20% of any recovery payment.  

This Collections Charge Schedule is relevant to all loans originated on or after 6th June 2016 to date

Total Loan Amount outstanding at default date

Maximum charge

£1.00 - £25,000.00


£25,000.01 - £50,000.00


£50,000.01 - £100,000.00


£100,000.01 - £250,000.00


£250,001.00 - £500,000.00


£500,000.01 +


3) Clause 5.4 of the Loan Conditions also sets out the third party costs that may be added to the debt if they are incurred.

We have set out below the third party costs for any measures that we may take to recover debts from borrowers who are in arrears and/or have been defaulted.  These costs are based on the third party fees (excluding VAT) plus disbursements such as court fees, personal service, advertisements and searches (without limitation).  

We may incur these costs without giving notice to borrowers/guarantors, although we will usually try to give notice before incurring them (except where tracing is required).  

Where we do incur these costs, we may seek to be reimbursed by the borrower and/or any guarantors.  These costs may be updated from time to time, without notice.  

Third party services


Desk-top tracing


Pre-litigation asset tracing


Service of statutory demand


Winding up petition


Bankruptcy petition


Taking additional security


Court action for money judgment


Enforcement of judgements


Application for charging order


Application for order for sale


Appointment of administrators


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