Funding Circle charges 4.49-10.49% origination fees, requires 24 months in business, and stopped accepting sole traders in February 2026. LeadCove has a broader lender network, bigger loan amounts, and no borrower fees.
Funding Circle built its reputation as a peer-to-peer lending platform for established businesses. Founded in 2010 and publicly listed on the London Stock Exchange, it has facilitated over $20 billion globally. But its 4.49-10.49% origination fee, 24-month minimum tenure requirement, and February 2026 decision to stop accepting sole traders are worth understanding before you commit. LeadCove's AI-matching network covers the same products with broader access and transparent pricing.
Answer a few questions and we'll match you to the right lender — whether that's SBA, equipment, acquisition, or working capital.
Funding Circle is reasonable if your business has 2+ years of operating history, you meet the 660+ credit score minimum, and you need a specific peer-to-peer marketplace structure. But watch the origination fee -- on a $300K loan, that 4.49-10.49% fee adds $13,470-$31,470 to your cost of capital.
LeadCove is the better choice if you need more than $500K, are a sole trader, have been in business less than 24 months, or want fee transparency. Our 75+ lender network includes specialty lenders for SBA, acquisition, and franchise financing that Funding Circle does not prioritize.