Funding Circle

Funding Circle lends £113m in February

Over 1,700 UK businesses accessed finance through the Funding Circle platform in February, according to the company's latest figures.

The P2P platform lent a total of £113m to UK businesses last month, helping to create – directly or indirectly – 4,600 jobs.

Funding Circle also revealed that since August 2017, its investors have helped more than 10,200 small businesses to access finance with over £678m being lent.

February’s lending figure is slightly down on the amount lent to businesses in January, which was £117m.

During the last month, the property and construction sector received the most funding (20.17%) followed by retail (13.55%).

The South East remained the most popular area to lend to receiving 25.93%, with London second (14.66%).

The Midlands saw the third-highest investment (14%), but the North West overtook the South West as the fourth-highest Funding Circle lending area, receiving 13.35% of funding compared with 10.79%.

Pictured above (l-r): Samir Desai, James Meekings and Andrew Mullinger, co-founders of Funding Circle

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