Friday, June 12, 2026New York · LondonSOFR 5.32Prime 8.50
Capital Desk · OpenVol. VII · No. 26
Summit vs Funding Circle.
Funding Circle is a marketplace lender for SMB term loans up to $500k. Summit is an institutional broker desk that places debt across nine strategies and 40+ lenders, including Funding Circle's competitive set.
| Dimension | Funding Circle | Summit |
|---|---|---|
| Model | Marketplace direct lender | Broker — 40+ lenders |
| Products | Term loan only | MCA, term, LOC, equipment, ABL, CRE, bridge, direct, invoice |
| Loan range | $25K – $500K | $25K – $500M+ |
| Time to fund | 3–5 days | 24 hours – 30 days by product |
| APR | 11.29% – 30% | 8% – 60%+ by product |
| Underwriting box | 2+ yrs in business, $50k+ revenue, 660+ FICO | 6 mo+ in business, no minimum FICO across all products |
Verdict
If you fit the Funding Circle box (clean credit, 2+ years, term loan only) they are competitive. Outside that box, a broker desk reaches lenders Funding Circle doesn't, including the working-capital, equipment, and CRE strategies they don't offer.