Loan purposes we can help with

At Funding Circle we want to help fund all kinds of business needs. Every business has unique requirements and will be at different stages in their journey, so our loans can be used for a huge variety of needs. Some of the most popular include:

Working capital – Working capital is the lifeblood of any business. Healthy cash flow allows business owners to pursue new opportunities and win more business. It saves you time, gives you greater peace of mind, and the breathing space to make the best long term decisions.

Refurbishment of premises – From office space to shop fronts, refurbishing business premises can be transformative. We can provide finance for refurbishment and spread the repayments over 5 years.

Hiring staff – The entire process of taking on extra staff can be costly and time consuming. Taking finance can allow business owners to either outsource this process or conduct it in house. We’ve helped thousands of businesses for this very purpose.

Buying new equipment/machinery – Equipment and key pieces of machinery can breakdown unexpectedly or become out of date. Often, this can be a significant outlay and cause delays in production. We can provide finance for business owners to purchase equipment and machinery. All our loans are unsecured (backed by a personal guarantee) so this means the business owner would own the equipment from the outset.

Deposits for property purchases – Business owners will often need full deposits before being able to apply for commercial mortgages. We can provide the funds for this, which means you can then go to your bank, secure the full mortgage and then settle in full with us. You can then repay in full with no early settlement or exit fees, making the process ideal for this scenario.

Stock purchases – Many businesses go through busier and quieter periods. It is important that you are prepared and can take advantage of busier times. We can help with providing finance for large stock purchases, which can provide you with peace of mind and often reduce overall costs.

Tax funding – Tax bills can creep up on business owners and often leave large unforseen dents in their cash flow. We can provide finance to cover the bill and spread cost out over up to 60 months. 

Funding a new project or product – For any business owner, it is imperative that you stay commercially competitive and come up with new ideas to engage your current client base and attract new customers.

Refinancing existing debt – We also offer loans to refinance existing business debt. As long as the debt is registered under the business rather than anyone personally we can look to consolidate that into one repayment. This can often be easier to maintain and can reduce your monthly outgoings, assisting with cash flow.

What can’t we cover?

There are a few loan purposes that we are unable to help with: 

Refinancing of personal debt – We’re unable to provide finance for the consolidation of personal debt. Even if the debt was taken out for the purpose of benefiting the business, if it is under a personal name we’ll be unable to help.

Onwards lending – We can’t help if the funds are going to be passed outside the business that has applied to either an individual or another business. The finance we provide must stay within the business and directly benefit the business is that is applying.

Speculative ventures that aren’t related to the core activity of the business – We’ll need to see how the loan purpose will benefit the business. It cannot deviate too far from the core activity of the business. For example, if you own a bakery but want to expand into I.T. sales, this wouldn’t be something we could provide finance for.