Funding Circle Loan Agreement

December 9th, 2020 8:14 pm

Alternatively, you can refinance your current loan and get additional funds, much like a mortgage. A single-origin fee applies only to additional resources from the new loan. Debt consolidation involves borrowing and using money to repay several other loans. You essentially combine multiple credits into one, which can make it easier to manage your payments. Do I know my monthly payment before I accept my loan? This form of guarantee is a guarantee from the shareholder or the company withdrawing the loan. In this document, shareholders personally guarantee that they will personally repay the loan if their business is unable to repay the loan. Funding Circle Trustee Limited, a wholly owned subsidiary of Funding Circle Limited, will sue the guarantors if, for whatever reason, the company cannot repay the loan. It is important to remember that even with a personal guarantee, your capital is in danger. As a business owner, you need a FICO credit score of at least 660 based on your experian consumer credit report to qualify for a loan. If a business is owned by more than one person, at least one of these owners must have a personal credit score of 660 or higher.

For example, if the company is equally owned by three partners and at least one has a score of 660, you can qualify. In some cases, we can show you up to three different credit conditions and you can choose the duration and simultaneous monthly payment that best suits your needs and circumstances. And because all our loans have a fixed monthly payment, you can credit and household with confidence. 7.4. If the statements in paragraph 7.3 are no longer accurate, you should contact us as soon as possible by email (contactus@fundingcircle.com) or by phone (020 7401 9111) to contact us. Our credit assessment decision depends on the amount of the loan you are applying for and, as soon as you apply for a loan, you cannot change the amount you want to borrow. The credit assessment team can expect you to borrow less than the amount requested. If so, they will contact you directly. Good eye! Never give personal financial information on a website that doesn`t look right or feels.

Give us a head on security@fundingcircle.com. We take phishing and other fraudulent activities very seriously and we insert third-party organizations to remove websites that pose as funding circles. We know that time is money for small entrepreneurs. While banks need a long and clumsy credit application, our process is fast, simple and transparent. You can apply for an online loan in just 6 minutes and get a decision in a single business day after sending your documents. Your personal account manager will work with you to ensure your application is complete, including the required documentation. The sooner you can provide your documents, the sooner we can send you a loan decision. If you think an email is fraudulent, contact your Account Manager immediately or contact our security team at security@fundingcircle.com. You can also report your incident immediately to the FBI Crime Information Center (IC3).

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