Boost your cash flow with a business loan

Borrow £50,001 to £250,000 to support your business through coronavirus and have nothing to pay for 12 months.

  • Nothing to pay for 12 months
  • No upfront or early settlement fees
  • Rates between 1.4%-8.9% APR
  • Decision typically in 24 hours
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British Business Bank

The Government-owned British Business Bank is supporting the UK’s small businesses with the Coronavirus Business Interruption Loan Scheme (CBILS). .

CBILS or Bounce Back loans - what’s the difference?

One of the main differences between the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS) is how much you can borrow.

Bounce Back Loans (BBLS):

  • Borrow £2,000 to £50,000
  • Fixed rate of 2.5% per year
  • Fixed 6 year terms
  • Nothing to pay for 12 months
  • No upfront or early settlement fee
  • Fast decisions

Funding Circle CBILS loans:

  • Borrow £50,001 to £250,000
  • Rates between 1.4%-8.9% APR
  • 2 to 5 year terms
  • Nothing to pay for 12 months
  • No upfront or early settlement fee
  • Decisions typically within 24 hours

BBLS loans are a good option if you want to borrow up to £50,000. However, if you want to borrow more, either now or in the future, a CBILS loan could be a better option.

Due to government regulations, you can’t have both types of loan. If you have a BBLS loan already, it may be possible to get a CBILS loan if you refinance your BBLS loan.However, this is not guaranteed as it depends on a variety of factors, including the lending criteria of the CBILS provider.

You can apply for a CBILS loan with Funding Circle today. We are also working to become a provider of BBLS loans and you can find out more here and register for updates.

We’ve helped 57,000 established businesses across the UK, and 9 out of 10 customers would come back to us first.

Who can qualify for a CBILS loan?

At Funding Circle, we’ll look at whether we would approve your business for a loan were it not for the impact of coronavirus. That means even if you have been severely affected, you could still get funding.

  • UK-based business that’s been adversely affected by coronavirus
  • Turnover of up to £45 million
  • Minimum 3 years of trading history
  • Over 50% of turnover from trading activity (e.g. not from investments)
  • Loan is for business purposes
  • Loan is primarily for trading in the UK

We’re only able to offer CBILS loans to limited companies at the moment, but we’re updating our systems so that sole traders, partnerships and other business types can apply soon.

When taking out a CBILS loan, the business is liable for the full loan amount. If the business is unable to repay, the scheme provides a partial guarantee to the lender, not to the business. Read more information on CBILS loans from Funding Circle.

How do I apply for a CBILS business loan?

It’s quick and easy to apply online and you’ll receive a fast decision to take your business forward.

  1. Check if you qualify in 30 seconds

    See if you’re eligible without affecting your credit score.

  2. Apply online in 10 minutes

    Tell us about you and your business with our simple application.

  3. Decision in 24 hours

    If approved, you’ll receive a no-obligation, personalised quote.

  4. Your loan is funded

    Once you accept, we run some final checks to process your loan and deposit the money straight into your account.

Apply now

Here to help if you need us

Our UK-based team are here to help throughout your loan. If you’re already a customer and have been impacted by Covid-19, please give us a call on our dedicated line.

Please note that due to an increase in call volumes, wait times are longer than usual. We appreciate your patience.

Loan enquiries credit@fundingcircle.com

COVID-19 helpline 0203 966 1186

Business customer support email loanservicing@fundingcircle.com

Open Mon-Fri, 9am-6pm

The whole process was quick, easy and very, very painless. The extra funding will take the pressure off and ease day-to-day cash flow issues.
Fiona, January 2020
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Andy Walker from Teasdale Motorcycles has borrowed £167,000 for over 4 different business loans, adding 10 new staff and tripling his turnover.

FT
Funding Circle was the first “marketplace lender” to join the UK’s Coronavirus Business Interruption Loan Scheme
The Financial Times, April 2020
The Economist
The Telegraph
BBC News
The Guardian
The Financial Times
City A.M.

Update on COVID-19

If you’re a customer impacted by COVID-19, please visit our support page or get in touch on our dedicated line.

COVID-19 helpline 0203 966 1186

Loan enquiries 0800 048 2467