SAN FRANCISCO, Jan. 23, 2019 /PRNewswire/ -- Funding Circle, the global small business loans platform, today announced that it has joined the Stripe Partner Program, providing businesses using Stripe with access to affordable business financing through Funding Circle. As a verified extension partner, Funding Circle now enables Stripe users to import their data directly and securely to apply for a business loan up to $500,000 — making the process faster and easier so they can get back to running their businesses.
Stripe is a technology company that builds economic infrastructure for the internet. Millions of businesses of every size use Stripe today to accept online payments and run complex global operations. With only 3% of GDP online, the goal of the Stripe Partner Program is to increase internet commerce by helping companies start, run, and scale their businesses.
At Funding Circle, businesses can obtain fixed-rate loans within days to hire employees, purchase equipment and inventory, or for other needs. Terms range from six months to five years, with consistent monthly payments and no prepayment penalties. To date, U.S. small businesses have borrowed $1.9 billion through the platform, making Funding Circle the largest lending platform in the United States. Globally, investors have lent $8.6 billion to 62,000 small businesses through Funding Circle.
"We're excited to work with Stripe to connect even more business owners with the affordable capital they need to go further," said Bernardo Martinez, U.S. Managing Director, Funding Circle. "Funding Circle and Stripe are both dedicated to helping companies scale their businesses in the digital age, ultimately creating jobs, opportunities, and driving growth in the broader economy."
"We're excited to welcome Funding Circle into our vibrant ecosystem of partners that amplifies the value of Stripe to our users," said Vicki Lin, Head of Ecosystem, Stripe. "With this partnership, Funding Circle will reach the millions of businesses on Stripe to provide more effective options for financing, and will help us in our mission to increase the GDP of the internet."
Stripe Verified Partners undertake a rigorous verification process, so that users can be confident in the quality of the partner's integration with Stripe, as well as more easily find new partners. Verified Partners receive enhanced benefits, including access to millions of Stripe users through a listing on the "Works with Stripe" gallery, exclusive invites to product betas, dedicated partner support, and more.
Business owners can apply for financing today using their Stripe accounts at https://www.fundingcircle.com/us/stripe/. Companies interested in partnering with Funding Circle can visit https://www.fundingcircle.com/us/partner/.
About Funding Circle
Funding Circle (corporate.fundingcircle.com) is a global SME loans platform, connecting SMEs who want to borrow with investors who want to lend in the UK, US, Germany and the Netherlands. Since launching in 2010, investors across Funding Circle's geographies - including more than 88,000 retail investors, banks, asset management companies, insurance companies, government-backed entities and funds - have lent $8.6 billion to 62,000 businesses globally.
SOURCE Funding Circle