ClearFunder – reviews, analysis and fees

ClearFunder is a direct lender that offers fast, efficient loans and lending to businesses for any reason, under most  circumstances.

This means that ClearFunder can be a fine option for a business with a poor credit score that is looking for a fast and easy cash injection – but the flipside is that ClearFunder is a comparatively expensive lender, with substantial interest being applied to your account every working day.

Think of ClearFunder as the business equivalent of a payday loan – best used in an emergency, and repaid as quickly as you can realistically do so.

ClearFunder business loans and finance

• Pros and cons
• Business loans
• Commercial mortgages
• Merchant cash advance
• Business credit cards
• Asset finance
• Invoice finance
• Business vehicle finance
• ClearFunder key information
• ClearFunder reviews
• Business eligibility criteria
• Business finance alternatives
• Additional considerations
• FAQ

Pros and cons of ClearFunder for business loans and finance 

Pros	Cons
✓ Fast underwriting and approval process	✗ Repayments are daily, at high interest rates
✓ No penalty fees if you settle your loan early	✗ Minimum of six months of trading history required
✓ Will consider loans for any business purpose	✗ Absolutely no online reviews, so no peer feedback

Business loans

ClearFunder offers business loans between £10,000 and £100,000, to be repaid on a daily basis. Interest is calculated and applied to your account every business day, so the sooner you repay your loan in full, the cheaper it will be.

This is important to know, as while ClearFunder will theoretically lend money to any company for any business reason, this is an expensive form of borrowing. The ClearFunder website offers a quote service that gives you an idea of what your loan will cost overall. If you borrow £10,000 over the course of 12 months, you will eventually repay £13,000, at a cost of £51.59 per working day. 

There are certainly cheaper ways to borrow five-figure sums, but the appeal of ClearFunder is that this lender does not discriminate against borrowers with a poor credit history, and will not ask for detailed and complex business plans – just proof that you will have the ability to repay the loan. This means that ClearFunder could provide financial assistance that is not available elsewhere.    

Business vehicle finance

ClearFunder claims to offer business vehicle finance as a specific product on their website, but in reality, the application process and repayment schedule are identical to taking out a business loan. There are no preferable deals or additional services offered to customers seeking vehicle finance – you’ll need to source the car or fleet yourself and make an application for the appropriate funding. For more options, see business vehicle finance.

Merchant cash advance

✗ Not available from ClearFunder. See merchant cash advance.

Business credit cards

✗ Not available from ClearFunder. See best business credit cards. 

Asset finance 

✗ Not available from ClearFunder. See best asset finance. 

Invoice finance

✗ Not available from ClearFunder. See invoice factoring. 

Commercial mortgages

✗ Not available from ClearFunder. See commercial mortgages.

ClearFunder key information

Phone number	020 3137 8095
App downloads	N/A
Website	www.clearfunder.co.uk
Number of branches	N/A
FSCS protected?	No

ClearFunder reviews

Review platform	Score	Number of votes
TrustPilot	Not reviewed	N/A
Feefo	Not reviewed	N/A
Reviews.io	Not reviewed	N/A
Smart Money People	Not reviewed	N/A
Which?	Not reviewed	N/A
Average score	No online reviews	0 total votes

Business eligibility criteria

To qualify for borrowing from your ClearFunder, you must be a limited company or partnership and have been trading for at least six months. There is no assigned minimum turnover, but you will be asked for proof that your business can afford to make agreed repayments.

Business finance alternatives

Borrowing from ClearFunder is simple and fast, but potentially very expensive. Check out other business loan providers if you would rather make monthly repayments or enjoy a longer loan term at a lower interest rate.

Additional considerations

ClearFunder markets itself as a provider of bad credit loans, so as long as your business is not actively bankrupt and you can afford to make repayments you may find that this lender works with you when others will not.

FAQ