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Funding Options is a broker (not a direct lender) that uses innovative technology to match your business’s needs with one of its approved lenders in just a few minutes. Depending on your circumstances, it can find competitive deals on peer-to-peer loans, invoice finance deals, growth funding, equipment leases or commercial mortgages – or help you choose between them if you’re not sure.
As Funding Options is a broker and not a direct lender, it’s crucial that you check the terms and conditions of the company you are borrowing from before you agree to a business loan. Additionally, it’s worth remembering that there could be better deals available outside of its panel of partners.
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Key features of Funding Options business loans
- Borrow up to 30% of your turnover. The amount you can borrow will depend on the performance and creditworthiness of your business.
- Search the market in seconds. Funding Options will search its panel of more than 120 approved lenders to find the most competitive credit it can offer you.
- Choose a funding option to suit you. If you’re unsure which type of loan you need, Funding Options can match you with the best type of credit for your circumstances.
- Fast decision. Most lenders will give you a decision on a loan within a few days.
- Customer service. A customer adviser can help you with your application, guide you through your options and provide advice even after you get the money.
The interest rates you are offered will vary between lenders, and will often depend on factors like the performance of your business, how long it has been trading and the loan amount and term you apply for.
Am I eligible for a Funding Options business loan?
You should only apply for a business loan through Funding Options if you’re certain you can meet the repayment terms. Eligibility requirements will vary between lenders, but generally:
- The loan amount you apply for should be less than 30% of your annual turnover.
- Your business must be profitable.
- You will need more than 24 months trading history.
- You should have no outstanding CCJs or late payments.
- It should be a UK-based business.
- You must be aged over 18.
Loan options
Funding Options can help you decide which type of loan best suits the individual needs of your business. Funding Options offer:
- Asset finance
- Bridging loans
- Business loans
- Invoice finance
- Merchant credit advance
- Revolving credit facilities
- Unsecured business loans
- Working capital finance
You will be provided with a list of all the relevant funding options, which will be ranked by “match score” to help you choose. As such, Funding Options could help you when you’re not sure what type of financing you need, or when you may even need a mix of different options.
How can I apply?
- Fill out the online form to tell Funding Options a bit about your business, how much you need to borrow and what it’s for.
- Your requirements will be matched against more than 120 loan providers.
- Once you have chosen the best lender for your circumstances, you will apply directly with them.
In an initial application with a Funding Options lender, you can expect to be asked for:
- Basic information about yourself and your business
- Turnover and profit
- Bank statements
- Filed accounts
- Loan amount vs turnover
- Trading history
- Payment history (e.g. CCJs, late payments)
Funding Options customer reviews
In our 2024 customer satisfaction survey, 97% of Funding Options customers said that they would recommend the brand to a friend. Several respondents remarked on how good the customer service was. One customer said that Funding Options was “convenient and straightforward to use, with good reviews and a good reputation”.
Funding Options has a Trustpilot score of 4.8 out of 5 stars and a rating of Excellent”, based on more than 1,000 reviews (updated July 2024). 91% of reviewers on Trustpilot rated the lender the full 5 stars. Some of their comments mentioned the smoothness of the service, mentioning that “it was easy and relatively quick”, while others praised the efforts of the Funding Options customer service team. Those who rated Funding Options less than “Excellent” stated that they had issues with the application and approval process.
The bottom line
If you’re looking for a business loan broker that uses innovative technology to match your business’s needs with a panel of approved lenders, Funding Options could be a good option for you. With its customers raving about the smoothness of the process, Funding Options offers a quick and pain-free service as long as you are equipped with the relevant documents. However, if you are in need of a loan larger than 30% of your annual turnover, there might be other brokers on the market with more favourable loan options.
How can we help?
Compare loan rates
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Frequently asked questions
Business loans ratings
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
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