The new arrangement is designed to help Main Street get better access to growth capital. The NSBA has an active membership of 65,000 businesses. Their members will now be able to access loans, along with financial tools, on the Funding Circle platform. NSBA members will also receive access to a range of financial education materials specifically tailored to their needs by Funding Circle’s business financing experts.
Businesses may borrow up to USD 500,000 on the marketplace lending platform. Funding Circle matches accredited investors and institutional money to these borrowers. Typically a business may be approved in less than two weeks.
Funding Circle is based in the UK but has extended its platform into the US market. The direct lender has loaned over USD 1 billion for 8000 businesses globally.
In recent news, Funding Circle has raised USD 150 million from a number of investment groups.
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