The specs
Accord Business FundingFunding Circle
Product typeMCATerm
Amount range$5K – $150K$25K – $500K
Cost (factor / APR)Factor varies by paper gradeAPR 7.49 – 24.99% (fixed-rate, fully-amortizing term loans)
Speed to fundNext-day for approved filesFunding in 48 hours to 1 week after approval
Min time in business3 months24 months
Min monthly revenueFlexible — no published floor$50,000+/yr business revenue (~$4,000/mo floor)
Min credit scoreFlexible — accepts B/C-paper660+
Products
- MCA (1st / 2nd / 3rd position)
- Fixed-rate business term loans (3 – 7 years)
- SBA 7(a) loans via partner banks
Verdicts by use case
- B/C-paper merchant with bruised credit — Winner: Accord Business Funding. Accord underwrites B/C-paper as their core book with no published credit floor. Funding Circle requires 660+ FICO and 24+ months TIB — declines most B/C-paper at the application stage.
- Cheapest cost of capital if you qualify — Winner: Funding Circle. Funding Circle's fixed APR range (7.49 – 24.99%) is dramatically cheaper than any MCA factor. For qualifying A-paper merchants this isn't close — Funding Circle wins on cost.
- Speed to fund — Winner: Accord Business Funding. Accord funds next-day on approved B-paper files. Funding Circle takes 48 hours to 1 week with bank-style underwriting documentation.
- Predictable amortization for budgeting — Winner: Funding Circle. Funding Circle's fixed-rate, fully-amortizing 3 – 7 year term loans give predictable monthly payments. Accord's MCA is daily ACH at a fixed factor — harder to budget month-to-month.
- ISO commission economics — Winner: Accord Business Funding. Accord publishes up to 15% commission, 100% on renewals, next-day payment. Funding Circle's marketplace model pays partner channels but commission tiers are lower and slower.
The honest takeaway
Accord Business Funding and Funding Circle solve overlapping but distinct problems. The right choice depends on three things you already know about your business: how fast you need the money, how long you've been operating, and whether the capital need is one-time or recurring.
Frequently asked questions
- I'm 18 months TIB with 620 FICO — which?
- Accord. Funding Circle's 660+ FICO and 24+ months TIB excludes you on both dimensions. Accord's B/C-paper underwriting will look at your file.
- I'm 3 years TIB, 700 FICO, $40K/mo revenue — which?
- Funding Circle. With those qualifications you'll likely land near the bottom of their APR range (7 – 12%). Any MCA factor will cost 3 – 5x more on equivalent dollars over the same term.
- Which builds business credit?
- Funding Circle reports to commercial credit bureaus. Accord MCAs typically don't (structured as a purchase of receivables, not a loan). If building credit matters, Funding Circle wins outright.