Funding Circle Chases Business Loans

By Georgina McCreadie on Monday 11 May 2015

Alternative Lending

Funding Circle US has partnered with the National Small Business Association (NSBA).

This partnership will direct members to Funding Circle US for businesses loans and they will also have access to a range of financial education materials specifically tailored to their needs by Funding Circle’s business financing experts.

Sam Hodges, Funding Circle co-founder and U.S. managing director, commented:

“At Funding Circle, we believe America’s 28 million small businesses deserve a better lending experience – successful and established business shouldn't have to scramble to access affordable financing that is critical to growing their business. We’re thrilled to partner with the NSBA, the nation’s leading small business advocacy group, to help connect more entrepreneurs directly with the capital they need to grow, hire more people and ultimately stimulate their local economies.”

Todd McCracken, NSBA president and CEO, added:

“Despite significant improvements in economic outlook, more small-business owners report a lack of financing is hindering their ability to finance increased sales or increase inventory to meet demand. This is why NSBA is proud to partner with Funding Circle to offer our members another way to garner the quality, affordable financing they need.”

According to a recent report by the NSBA, one third of small businesses in the US said a lack of capital had affected their ability to grow or expand their operations. One of the benefits of financing through peer-to-business lending is that businesses can gain access to capital much faster than if they applied for funding through a bank. One of the other problems that P2B lenders face is that businesses are unaware of the other funding options available to them if they are turned down by their bank. This partnership will be very valuable to Funding Circle US in terms of boosting awareness among small businesses and should ultimately help to increase the platform’s origination volumes. 

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