FAQs for Term Loans
Applying for a loan
Recovery Loan Scheme (RLS)
Bounce Back Loan Scheme (BBLS)
- How do I repay my Bounce Back Loan (BBLS)?
- What is Pay As You Grow (PAYG)?
- Where can I get more advice about repaying my loan?
- What happens if I think I may miss a repayment on my Bounce Back Loan Scheme (BBLS) loan?
- What are the Bounce Back Loan Scheme (BBLS) terms and conditions?
- What is a Bounce Back Loan (BBLS): What is my liability? See all 7 articles
Coronavirus Business Interruptions Loans Scheme (CBILS)
- What is the Coronavirus Business Interruption Loans Scheme (CBILS)?
- What is my liability for a Coronavirus Business Interruption Loan Scheme (CBILS) loan?
- Are there any additional costs for taking out a Coronavirus Business Interruption Loan Scheme (CBILS) loan?
- Can I repay my Coronavirus Business Interruption Loan Scheme (CBILS) loan early?
- What happens if I think I may miss a repayment on my Coronavirus Business Interruption Loan Scheme (CBILS) loan?
- What are the Coronavirus Business Interruption Loan Scheme (CBILS) terms and conditions?
Borrowing
Repaying the loan
- Can I pay back my loan early?
- What happens if I’m late or think I will be late making a monthly repayment?
- How do I change repayment details for my business?
- Can I change the monthly repayment date for my loan?
- When will my monthly repayments begin?
- How are my repayments calculated? See all 13 articles
Early Settlement of my loan
- How do I settle my loan?
- Will I be charged for settling my loan in full 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?
- What further requests may Funding Circle have?
- When my loan has been settled, will I receive confirmation of this? See all 7 articles
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