INTRUST Bank and Funding Circle Announce Strategic Partnership to Support Growth of US Small Businesses

SAN FRANCISCO, Jan. 4, 2018 /PRNewswire/ -- Funding Circle, the world's leading lending platform for small businesses, and INTRUST Bank, a regional bank headquartered in Kansas, today announced a strategic partnership to support the growth of US small businesses. The partnership will be rolled out in various stages with the initial phase consisting of INTRUST funding US small business loans originated through Funding Circle. The later stages would include growing the investment with the intention to extend into a multi-year funding program and joint digital and direct marketing campaigns.

INTRUST joins more than 70,000 investors globally – including individuals, financial institutions, government, and the listed Funding Circle SME Income Fund – who have provided $5 billion in transparent and affordable financing to more than 40,000 businesses through Funding Circle, creating 100,000 jobs*. Through the partnership, INTRUST will support access to credit for hundreds of US entrepreneurs, spurring job creation and boosting the American economy.

"Every dollar invested through our platform has a ripple effect in cities and towns across America, by enabling Main Street small businesses to grow, hire and expand," said Sam Hodges, co-founder and U.S. managing director, Funding Circle. "This makes Funding Circle an ideal investment opportunity for banks such as INTRUST focused on bringing tangible impact to the communities they serve, and we look forward to further growing our platform with support from additional institutional partners here and abroad."

"We are excited to partner with Funding Circle to enhance our ability to serve small business customers," said Brian Heinrichs, chief financial officer, INTRUST Bank. "As a regional bank, we understand that small businesses are the lifeblood of our communities and the nation's economy. Funding Circle's customer-focused philosophy and technology platform are an ideal fit for INTRUST."

Funding Circle enables a wide range of investors to lend to creditworthy small businesses, diversifying their portfolios while gaining attractive risk-adjusted returns. At Funding Circle, businesses can obtain fixed-rate loans within days to purchase equipment and inventory, hire new employees or for other needs. In a recent survey, 92 percent of US borrowers said they would come back to Funding Circle for their future business financing needs**.

About Funding Circle
Funding Circle (www.fundingcircle.com) is the world's leading lending platform for small businesses, matching investors to businesses who want to grow in the UK, US and Europe. Since launching in 2010, investors at Funding Circle have now lent $5 billion to more than 40,000 businesses globally. Approximately 10% of investor money now comes from government sources, including the British Business Bank, European Investment Bank, KfW, the German government-owned development bank, and local councils across the UK. The business has raised £250m in equity capital from the same investors that backed Facebook, Twitter and Airbnb.

About INTRUST Bank
Since 1876, INTRUST Bank (www.intrustbank.com) has grown to become a leading financial services provider in the Midwest, with assets of nearly $5 billion and 46 banking centers across Kansas, Oklahoma, and Arkansas. Our long-standing commitment to exceptional service, quality products and cutting-edge technology underscores our pledge to be the best resource for personal and business financial services in our communities.

*Based on an average 2.6 jobs created directly and indirectly by each business that borrows through Funding Circle ('Small Business, Big Impact' research commissioned by Funding Circle from the Centre for Economics and Business Research, August 2016).

** Based on an online survey of US Funding Circle borrowers. A total of 216 business owners completed the survey between Oct. 10-30, 2017.

SOURCE Funding Circle

Related Links

http://www.fundingcircle.com