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There are many factors that affect your eligibility for a personal loan. These include your FICO score, how long you’ve been in business, for and your yearly sales or revenue. Once you complete your application, the service runs a hard credit pull and a dedicated loan specialist contacts you within a matter of hours to discuss your loan options and requests any additional documentation that may be required. The process may take anywhere between five to 14 days.

The results of the credit pull typically determine the rates and fees that will be attached to your loan. In our assessment of the fees and penalties that Funding Club includes with its loan, we found them to offer the third lowest amount, but it’s important to remember these fees are dependent on your specific loan.

When we called this P2P lender, the representative with whom we spoke could not answer any general questions, but instead offered to transfer us to an account manager. Considering that this company deals with large business loans, this is understandable, but it may be difficult to have simple questions answered if you call the company. When we emailed customer support with general question from a perspective of a potential borrower, we never received a response. The website provides a good deal of information and explains the process and what you can expect in general.

Funding Circle is a good choice if you are seeking a loan larger than the typical P2P loans from SoFi or Upstart. This lender also looks closely at your business’s revenue and requires you to have been in business for at least two years. This is a good choice if you're looking for larger loan amount for your business and you qualify. 

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