Funding Circle secures £700mn lending deal

SME lender Funding Circle has made a lending deal worth £700mn with Bayview Asset Management.

In Brief: 

It now has £700mn to lend do UK SMEs through its platform. 

Funding Circle has already arranged £14.5bn in loans since 2010. 

It also made a £1bn deal earlier this year. 

What does this mean? 

Bayview will provide the capital through its managed funds business. Funding Circle currently offers loans funded by a number of investors including banks, insurers and government-backed entities. 

Read more here.