Connect go live with CBILS loans with Funding Circle

I am pleased to confirm that following the recent CBILS launch from Funding Circle, Connect now also have access.
Any Connect Network Member who already has a Funding Circle portal can start transacting. Unfortunately, they are not adding new advisers at present so those who Advisers who do not have a portal will need to refer their clients into the Connect placement team to transact.
Key terms are:
Min 3 years trading history
Ltd Co and LLP’s only ( No sole traders)
No requirement to be property owners
Product
2 – 5-year loan
Max loan £250,000
Min Loan £50001
1st payment will be in month 13
Capital holiday as well as interest-free
Rate Max 9% APR although they quote as AER which may show as higher
Process
7 days for App to be reviewed
7-14 days to fund, although currently quicker
Offer Valid for 7 days
Commission
2.3%, but will not be paid till around 4 months after the loan completes.
You are encouraged not to charge the client an additional fee, but where you do, this must be fully disclosed and should not exceed the Connect maximum tolerance of 2%
For more information, talk to the placement team on 01708 676135
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