FinTech Funding Circle is the fifth largest lender for the Government’s CBILS loans.
In Brief:
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Funding Citcle says it has a 20% market share of CBILS loans approved.
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Overall, since its accreditation for CBILS, it’s approved more than £2bn loans across the UK and US.
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The FinTech aims to approve loans quickly, with 60% of applicants having a decision in less than a minute.
What does this mean?
Funding Circle started following the 2008 financial crisis where businesses to help small busiensses which were struggling to access funding so CBILS is very much aligned with its values. It says about two thirds of its customers have been new to Funding Circle this year.
