Funding Circle Reviews - www.fundingcircle.com

★★★★☆
4.4 / 5
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Latest Reviews

★★★☆☆

“Lessons from being an early investor in Funding Circle...”

Written on: 18/01/2016 by cube_lsd (6 reviews written)

I have been an early investor of FundingCircle loans since 2011 and recently, I have had to make my first withdrawal from them after I sold all my loan assets. I used their facility and a week later, the monies had not been released (usually takes 2-3 days). I called them and they claimed to have sent a security email to me to ask me to confirm that I made the withdrawal. Upon searching my email box, I found out that the title of the email that FundingCircle sent was this: "Request #xxxx: How… Read Full Review

Eastlight_2's Response to cube_lsd's Review

Written on: 12/05/2016

I Totally Agree with the Above Investor, Have Invested with Funding Circle and Disappointed with the Returns, and Found they Lose Money and Appear Quite Flippant About it. Also Find that Funds are Reinvested Month after Month with no Access to the Interest Unless you turn off Auto bid, then Nothing is Invested until Auto bid is Turned Back on Again, A most Unsatisfactory Arrangement Compared to other Peer to Peer Platforms. I certainly will not Invest with Funding Circle In the Future.

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★★★★★

“10 times better than using my bank”

Written on: 17/01/2016 by Joyce406 (1 review written)

OK so I hate getting unsolicited mail shots. But the letter I got from The Funding Circle intrigued me, it seemed too good to be true. The fact is that it has proven so, here's why. The first thing that was a breath of fresh air was the way their account manager dealt with my enquiry. The process was described as simple, everything was done on-line and responded to in nano seconds with a great customer portal to track progress and back up options like using email or just speaking to the… Read Full Review

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★★★★★

“Brilliant, quick, fantastic communication”

Written on: 07/01/2016 by 272Phillips (1 review written)

Funding circle have been brilliant. I applied a while ago but had to wait for my accounts to be finalised. Once they were done the process was fast and simple. I was kept up to date every step of the way. Can't thank them enough...onwards and upwards for my little business now. I liked the fact I had a named account manager and could contact with any queries. … Read Full Review

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★★★★★

“Banks can't compete with Funding Circle, ”

Written on: 26/11/2015 by scuba1944 (1 review written)

I am averaging 6.8%, I stick to the highest credit ratings and £20 each investment. Now with the fixed rate there is no rush to get your bid in before the time runs out, and i particularly like the interest only builders loan; where the principle is paid back at the end, and with first charge security, no worries, well not many. I have only had one bad experience where the lender went bust after just one repayment, I thought Funding Circle had not done a good job in checking the credit… Read Full Review

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★★★★★

“very very good”

Written on: 11/11/2015 by jeKirkland361 (1 review written)

would recommend funding circle to any one excellent telephone service and communicatence… Read Full Review

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★★★★★

“Amazed . . . . ”

Written on: 18/09/2015 by 33McCullough (1 review written)

I applied for a loan for my company and within 2 weeks (would of been sooner however, I slowed down the process!) it was approved. It was simple easy and a breath of fresh air. Wish I had been aware of it years ago -… Read Full Review

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★★☆☆☆

“Let down”

Written on: 27/07/2015 by Matpat (1 review written)

Got loan approved answered all info required got loan account set up and scheduled said yes to extra work then get email saying cant lend now got to ring customers and tell them cant do work… Read Full Review

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★★★★★

“Simmply Brilliant”

Written on: 19/07/2015 by TobiasBowman185 (1 review written)

This was a seamless and the most straightforward experience of funding in my 45 years in business… Read Full Review

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★★☆☆☆

“Lot to be expected”

Written on: 04/07/2015 by ChristopherHoover (1 review written)

There is lack of transparency and information given when the loan is being applied for. New information comes to light as we go along which is not the way a good lender should be. All terms and conditions should be properly shown and informed before the loan applied for goes on the platform rather than being given a situation where it is too late to back out or for the borrower to be fully aware of what he is putting his hand into. The methodology of fixed rate platform is still very unclear… Read Full Review

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★★★☆☆

“beware of lending large amounts”

Written on: 17/05/2015 by Zarag255 (1 review written)

i am lending over 300,000 pounds and the FC computer can't give me my transaction statement details electronically in the later stages of the month.they do email but this is not what i expect from a peer to peer lending organisation… Read Full Review

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★★★☆☆

“falling returns”

Written on: 15/05/2015

I've invested a relatively small amount and am glad that I didn't put more in, as returns are gradually falling significantly due to defaults on payments. This seems to be happening more and more - may be due to using Autobid, which I plan to stop using. Return rate is still more than most other investments and I like the principle of peer to peer lending, but don't believe the return rates they quote - mine is now 4.1%, having been considerably higher. Website is very easy to use and… Read Full Review

Alanm142's Comment

Written on: 17/08/2015

First, don't use autobid ! second don't buy A or B loans ,return rates are too low and they still default ( had an A -Rated loan default last week)

I have now only purchased only D or E loans ....yes the risk is higher....but the returns are much better...spread your money thinly in 14-18% loans... its the only way u will make money.... my % return is currently 7.7% with a total investment of only 15k.

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★★☆☆☆

“Not for Start up”

Written on: 07/05/2015

Called to inquire about a loan for my company that has been established for 2 years now. Just need some cashflow assistance to get to break even. I was told that they only look at helping you out once your company has shown profit for about a year, which makes this no different from the banks, does it? Disappointed, after all the hype that was given on the website, which I feel now is a little deceiving. … Read Full Review

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★★★☆☆

“high investors beware”

Written on: 20/03/2015 by simonbolivar (1 review written)

in june 2014 i had about 330000 invested in FC.i didn't get my transaction details over the last few days of june july august and september.i was told repeatedly that the tech team were doing all they could to rectify the problem.oct nov dec jan were OK.in feb my money in FC hit about 280000 and the transactions again became unavailable to me on my computer at the end of the month.i am computer dense,but it seems that my selling was more important than FC efforts … Read Full Review

Alanm142's Response to simonbolivar's Review

Written on: 17/08/2015

Don't think I would invest such high amounts in FC, much better returns available if u have this sum to invest , getting transaction details a bit late would be the last of my worries !

I would review your investment if I was you !

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★☆☆☆☆

“slow, cumbersome process”

Written on: 14/12/2014 by 283Cochrane (1 review written)

After waiting three weeks, finally got an answer to my loan request. Actually did not make a lot of sense. Had better experience with banks… Read Full Review

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★★★★★

“Fast efficient service”

Written on: 30/11/2014 by RBaxter (1 review written)

Application process very simple. We submitted our application on 17th November. Email communication from that point was very good, with email confirming that no further information was required from ourselves, further email to advise our case had been submitted to the underwriters and an indication of when that process would be completed & finally an email to confirm the application had been accepted and the funding auction process would commence. Thereafter, the website indicates funding… Read Full Review

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★★★★☆

“it works so far”

Written on: 24/10/2014 by AimeeRoss75 (1 review written)

I have put into funding circle over 50K and have not yet had one default or bad debt. Maybe i am one of the lucky one's, i never lend a company more than £100 exept 4 property developers where i have lent £500 because of the 2% cashback. If i do sell loan parts they allways go in a day or two if you do not add a premium. I do not use auto bid i chose my own that way you get a better return and can check out the company first. The only complaint i have is that FC take too long about informing… Read Full Review

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★★★☆☆

“Lower than expected returns”

Written on: 21/10/2014 by MarianaDriscoll132 (1 review written)

I have been using FC for two years now and have noticed a change in returns due to bad debt and defaults, previously i was averaging 6.2% but never any higher now i have calculeted that the average has dropped to around 4.9% Still better than the High St. Bank but rmember it is not so fast to sell loan parts and get your money back if you need it in a hurry, this is probably good for people who invest small amounts and can keep it in for 3-4 years, remembering you really have very limited… Read Full Review

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★★★★☆

“Helpful staff”

Written on: 28/08/2014 by BaileyMorley (3 reviews written)

Business Loans were not that easy to borrow but Funding Circle make them very easy to borrow, their rates are very low and easiness on returning. staff are friendly and helpful… Read Full Review

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★★★★★

“Life Changing Help for a Small Business”

Written on: 31/07/2014 by nikit (1 review written)

We are a small infrared thermography business working with many of the larger commercial building surveyors in the UK. We have been trading for 4 years, with growing turnover year on year. However, we are still really struggling with our cashflow, as 90% of our clients don't pay us for 120 days as standard. We received a letter from Funding Circle - and it was definitely a case of right time, right place. I had never heard of this type of borrowing before, so I called to find out if we would… Read Full Review

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★★★★★

“Fantastic and quick Funding my accountant loved it.”

Written on: 31/10/2013

We have got to a point in the business where we needed funds to maintain our rapid growth. To achieve this we need to open more outlets around the UK but did not want to endure the rigor of dealing with the banks again and felt good that the returns on our borrowing will be benefit normal people most likely been left short of a pension due to terrible interest rates and the demise of the financial system 5 years ago. The Process was extremely straightforward as I had all the details to hand… Read Full Review

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