Funding Circle

Funding Circle is a popular online lender for small businesses, but its essential to be aware of common customer complaints before moving forward. Here are ten reasons why you might want to reconsider working with them.

1.Higher Interest Rates
Compared to traditional banks, Funding Circle often has higher interest rates, which can make loans more expensive, especially for borrowers with lower credit scores. 2.Strict Credit Requirements
Funding Circles stringent credit qualifications make it harder for new or lower-credit businesses to access funding. 3.Delayed Approval Process
Though advertised as fast, some borrowers report delays due to extended underwriting and paperwork, resulting in a slower-than-expected process. 4.Inconsistent Payoff Amounts
Customers have reported discrepancies in payoff balances from different representatives, creating confusion in budgeting and planning.

5.Language Barrier with Customer Support
Many clients face communication issues due to language barriers with representatives, leading to misunderstandings and delays in resolving important financial matters. 6.Auto-Payment Issues
The required auto-debit feature can cause issues for businesses with variable cash flow, potentially leading to overdraft fees and additional complications. 7.Additional Fees
Funding Circles origination and administrative fees add to the overall loan cost, making it less competitive than some alternatives. 8.Lack of Bank Regulation
As a UK-based, non-bank lender, Funding Circle isnt subject to U.S.

banking regulations, which may limit consumer protections and transparency.

9.Discrimination Concerns
Some customers feel that unique circumstances, such as regional challenges, arent fully understood or respected, leading to perceived discrimination and inadequate support. 10.No Managers Available for Escalation
Customers frequently report difficulty reaching a manager, which can delay resolutions and lead to frustration when dealing with complex issues.

My experience with Funding Circle has been deeply concerning, and I am prepared to pursue legal action if the issues are not resolved immediately. Last year, I tried to pay off my loan in full, but they imposed unreasonable requirements, making it impossible to settle the debt despite having the cash.

Their refusal to allow a simple payoff raises concerns about their business practices.

Customer service is appalling. Representatives lacked fluency in English, and attempts to reach a manager were futile. Both Vallery and Vallery Gonzalez were rude, argumentative, and even hung up on me during multiple calls.

They have also charged my account for unauthorized double payments, resulting in overdraft fees, for which they are responsible. I will seek compensation for this and any other financial harm theyve caused.

Their lack of transparencygiving conflicting balance information ($14,188 then $18,188)is highly suspicious.

I no longer receive statements, making it impossible to track my account.

If they dont resolve these issues, I plan to file a lawsuit for damages.

I will also name the three CEOs based in London, holding them accountable for the distress and financial harm Ive endured. I strongly urge others to avoid Funding Circle, as their operations seem deceptive and potentially unlawful.