Funding Circle extends Citibank facility
By Tom BelgerThe board of Funding Circle SME Income Fund Limited has announced that it has agreed to increase the size of its existing leverage facility with Citibank
Section: P2P
The facility has been increased from around £50m to approximately £66m.
Funding Circle expects to drawdown the additional funding under the leverage facility during August.
The funding will be used for new originations in the UK and central Europe.
The announcement comes as the P2P lending platform continues to explore growth opportunities.
Earlier this year, Funding Circle stated that it was in discussions with the British Business Bank about a project to provide financing to UK SMEs via its lending platform.
Keywords: Funding Circle, SME finance, SME lending, alternative finance, specialist finance, Citibank, commercial finance, commercial finance brokers, business finance, business finance broker, SME loan broker, Funding Circle SME Income Fund
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/funding-circle-extends-citibank-facility