Funding Circle passes £1bn lending barrier

Funding Circle passes £1bn lending barrier




Funding Circle has lent more than £1bn directly to small businesses in the UK, with more than half being lent in 2015..

Funding Circle has lent more than £1bn directly to small businesses in the UK, with more than half being lent in 2015.

Since launching in 2010, 12,000 UK businesses have accessed finance through the SME marketplace across 15,300 loans.

To date, the 45,000 investors at Funding Circle, which includes the British Business Bank, 19 local authorities and a wide range of financial institutions have earnt more than £55m in net interest.

James Meekings, UK Managing Director and Co-Founder at Funding Circle, said: “We’re committed to creating opportunities for small businesses that didn’t exist before.

“For too long, they were reliant on a single line of credit from traditional providers. We’re building the infrastructure where any investor, big or small, can lend.

“We want to become the first choice for small business finance by making small business lending faster and easier than ever before.”

Funding Circle also said it is on track to lend a further £1bn in 2016.

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