Best Secured Business Loans of 2022 – Forbes Advisor


Funding Circle has been a direct lender specializing in small business loans since 2010. Since its inception, it has helped 100,000 businesses in 700 industries and lent $15.2 billion globally. We chose Funding Circle because it provides fast, affordable loans with a simple application process and funding in as little as 48 hours. Potential borrowers have three options: commercial term loan, line of credit or SBA loan.

Funding Circle term loans range from $25,000 to $500,000 with repayment terms of six months to five years. If you choose to apply for a business line of credit, you can access lines of credit between $6,000 and $100,000. However, Funding Circle does not specify the repayment terms of its line of credit. You can also apply for SBA loans, which range from $25,000 to $500,000 with terms up to 10 years.

The funding circle has two main drawbacks. First, there is a one-time origination fee on each loan ranging from 3.49% to 6.99% of the approved loan amount. Second, due to state lending regulations, Funding Circle does not lend to businesses that operate out of Nevada, making it available in only 49 of the 50 US states.

Eligibility: The minimum qualifications for a loan through Funding Circle are:

  • Two years in business
  • Minimum personal credit score of 660
  • No personal bankruptcies among business owners in the past seven years
  • Not located in Nevada, due to state lending regulations

SBA loans, however, require two years in business, a minimum credit score of 650, a minimum annual income of at least $400,000, no current federal tax liens, and your business operates in one of the qualifying industries. of the SBA.

Completion time: Depending on the funding method you request, you may receive your funds within two to three days. However, SBA loans can take several weeks due to long underwriting times, which typically take up to three weeks.


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