Online lender Funding Circle has forged a partnership with Kansas-based Intrust Bank to support the growth of small businesses in the US.
In the initial phase of the partnership, Intrust will fund US small business loans originated through Funding Circle.
Later on, it will expand its investment and deploy a funding program that includes joint marketing campaigns.
Funding Circle co-founder and US managing director Sam Hodges said: “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.
“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.”
Funding Circle currently has more than 70,000 investors worldwide including individuals, financial institutions, government, and the listed Funding Circle SME Income Fund – who have provided $5bn in transparent and affordable financing to more than 40,000 businesses.