Faloon's professional team was his native province of Ulster, signing a contract with the side in December 2008. He had previously played for amateur side Ballynahinch in the All-Ireland League and was part of the province's academy system. Faloon played his first game for Ulster on 24 January 2009, in a 2008–09 Heineken Cup game with Stade Francais. He made his league debut for the team in the final game of the 2008–09 Celtic League, against Scarlets.