Funding Circle partners with the NSBA to help Main St. get better access to growth capital
-- The partnership, unveiled during National Small Business Week, will provide NSBA's 65,000 active members access to affordable loans and financial literacy tools --
SAN FRANCISCO, May 5, 2015 /PRNewswire/ -- From bolstering inventory levels to hiring more people, thousands more American small businesses will have better access to quality, affordable growth capital thanks to a new partnership between Funding Circle, the world's leading marketplace for small business loans, and the National Small Business Association (NSBA).
Through the partnership, Funding Circle loans are now a key solution for NSBA members seeking capital from a marketplace lender to grow their businesses. 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.
"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," said Sam Hodges, Funding Circle co-founder and U.S. managing director. "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."
According to a recent report by the NSBA, one-third of small businesses in the U.S. said a lack of capital had affected their ability to grow or expand their operations.*
"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," said Todd McCracken, NSBA president and CEO. "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."
Through the Funding Circle marketplace, businesses looking to borrow up to $500,0000 are matched with accredited and institutional investors who want to lend. By bringing together industry leading risk management and cutting edge technology, Funding Circle's proven marketplace model enables businesses to access financing in under 14 days compared to months with a bank.
About Funding Circle
Funding Circle (www.fundingcircle.com) is the world's leading online marketplace for business loans, matching small businesses who want to borrow with investors who want to lend in the UK and the US. Since launching in 2010, investors at Funding Circle - including 40,000 individuals, financial institutions and even the UK Government - have now invested more than $1 billion in 8,000 businesses globally, and currently lend ~$80 million per month. Funding Circle has raised $273 million in equity capital from the same investors that backed Facebook, Twitter, Airbnb and Alibaba.
*NSBA, 2014 Year-End Economic Report (released February 2015)
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SOURCE Funding Circle
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