This is well beyond the rules of the SBA PPP program I am cancelling my request for them and find another company. You will be charged an origination fee when the loan is funded, and that will depend on the amount of your principal. It’s no secret that America is suffering from a difficult economy in which millions of people are either unemployed or underemployed, meaning. Funding Circle is horrible' same thing happened to me and I was told my PPP loan was approved' I signed all docs' they claimed the underwriter wanted additional forms' I sent the forms' they wanted more forms, etc. The 72 hour window for me ended yesterday at 5pm. Your best bet is to figure out if they even put it in. What is it with "3 days" and loans. Cookies help us deliver our Services. The company has great reviews from both borrowers and investors. I emailed their support yesterday afternoon to check on my application status and received the following response around 7pm last night. The other strange thing is approximately 24 hours after I applied I received a solicitation email from Sky Bridge Business Funding to apply for the PPP through them, which takes you to the Cross River application website branded with Sky Bridge information. BBB: 4/5 (based on 43 Funding Circle customer reviews) Choosewisely.co.uk: 4.5/5 (based on 7,343 reviews) Most of the Funding Circle reviews are positive, even if not overwhelmingly so. The company scores highly on both TrustPilot and the Better Business Bureau, and Funding Circle reviews show PPP loans are much simpler to obtain through the company. 6/26 the loan officer stop responding and then 6/28 this morning I got an email saying from Funding Circle saying my application was declined with no reasons. Press question mark to learn the rest of the keyboard shortcuts. To do this, they partnered with equity investors like Accel Partners, Baillie Gifford, BlackRock, Index Ventures, Ribbit Capital, and many others to simplify the lending process. If you have not yet received a confirmation email after this time, please reach out to us. Owners looking for loans of more than $200,000 must also provide a YTD balance sheet and income statement, as well as an Outstanding Business Loans & Credit Worksheet. Expected funding is 2 business days after signing the closing documents. I applied more than 48 hours ago and haven't heard anything from them. Our Account Manager made sure we were kept up to date with progress and filed the application correctly. So' I notified the SBA letting them know that I never received the funds and something seemed fishy with that company. Funding Circle, found online at FundingCircle.com, is a loan matching service that says their goal is “to revolutionize the outdated banking system and secure a better deal for everyone,” especially small businesses. Cookies help us deliver our Services. Not looking too promising :(, New comments cannot be posted and votes cannot be cast, More posts from the smallbusiness community, Questions and answers about starting, owning, and growing a small business, Press J to jump to the feed. Funding Circle being listed in the London Stocks Exchange gives it a level of credibility and legitimacy. The fact that they will also let you walk through the application process with a loan consultant is a beneficial feature that appears to appeal to many borrowers who, while the may have a successful small business, are not necessarily full informed about the borrowing process. I also applied with them just over 48-hours ago and still haven't heard anything either. I then applied with FundBox (The best thus far)! Borrowers consider the service outstanding. All Rights Reserved. Waiting on the documents to sign. Applying for a loan and consulting with their loan specialists is always free, and you will never be asked for any fees to process documents or complete any part of the application process. Your talking to a shit bag company in everything they do . Just did one as a hedge against the local bank I applied with dropping my non-customer app like 3 different ones have this week. I never received any type of email letting me know that they had received the application. That’s good news. Good luck. I would call the sba ppp line and explain your situation. I did too. I put a help request in just now to ask for a status update. I haven’t heard anything yet. One of the things that are consistently praised about the company is its staff. I have applied else where but I was declined already becuz Funding Circle has obtained an SBA number for me already.... That doesn't matter' you have to send the new company your denial letter or let them know you never received the money... Funding Circle is a mess' this happened to me and I applied elsewhere and approved/money in acct less than a week! By using our Services or clicking I agree, you agree to our use of cookies. I applied for mine through their partner Divvy. Today around 10:30 AM I received an email from them saying that my loan had been approved, it had a loan number, and E-Tran number and said that I should be getting documents in the next 48 hours to sign and then funding would take 48 hours after that. Just sign closing documents. Lenders and loan matching services do not provide traditional refunds. Highly recommended. Press question mark to learn the rest of the keyboard shortcuts. Instead, they sometimes do provide their customers with a small time limit in which to return the principal they have borrowed with no financial penalty. Loan interest rates processed through Funding Circle will range anywhere between 5.49% and 22.79% and is dependent on the length of your loan in years and the strength of your overall credit profile. I sent an email and received an automated zendesk response that someone would get back to me. I received an email Monday morning With the E-Tran Loan approval number And since no contract yet Did you get your contract yet by email? Same here. Funding Circle is horrible' same thing happened to me and I was told my PPP loan was approved' I signed all docs' they claimed the underwriter wanted additional forms' I sent the forms' they wanted more forms, etc. Please try them! Together, Funding Circle says that they have lent more than $1 billion to 10,000 businesses in the United Kingdom and United States. CBILS loan through Funding Circle. Business owners looking for loans under $200,000 must provide three years of tax returns, the most recent year of personal tax returns, and six months of business bank statements. I can see that your application is in progress, and you should expect an update shortly. If you have experience with this company or their products, please leave your Funding Circle reviews below. Kabbage is a joke they are my bank (Peoples Bank) PPP go to I have been with my Bank for over 5 years, Kabbage asked for and I gave License, all W2,s / W3s, 941,s, Bank statements and now they want information from Unemployment. Best wishes'. Apply to all fin tech companies now.. before 11:59pm.. payrpal did me the same way.. until You have a SBA Liam number you’ get nothing ..such a rat race but worth it .. for Is all.. Google and apply for all who are still Accepting new applications.. kabbage.. Paypal ( they may work for you) , bluevine .. there are others .. good luck to us both.
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