Funding Circle and Atom Bank have entered a new lending partnership to provide up to £150m in funding to small businesses.
In brief:
-The new funds brings Atom’s total lending with Funding Circle to around £800m
-The new partnership will support small businesses through the most recent government-backed Recover Loan Scheme (RLS) offered by Funding Circle, aiming to help improve access to finance for SMEs.
-The bank will use Funding Circle’s technology and distribution platform to deliver the funds to UK businesses and deploy capital.
What does this mean?
“Access to finance remains crucial for small businesses, so we’re delighted to once again be partnering with Atom bank to help more SMEs get the funding they need to win,” Funding Circle CEO Lisa Jacobs said.
