On 15 April 2020, the UK Advertising Standards Authority (the ASA) published a decision involving a televsion advert aimed at business borrowers which failed to say a personal guarantee may be necessary.
The ASA banned the advert saying it “disagreed with Funding Circle that it was not necessary to flag it in the ad as a possibility to applicants” and “the possibility that a personal guarantee would be required in a business loan was material information that needed to be stated in an ad“.