DENVER--(BUSINESS WIRE)--Funding Circle, the online platform for small business loans, announced today that it has partnered with one of the nation’s largest online lending marketplaces, LendingTree, to offer LendingTree business customers access to fast, affordable financing from Funding Circle.
By offering Funding Circle's term loan product in LendingTree’s online marketplace, businesses will have access to even more flexible financing solutions, including Funding Circle’s six month to seven-year term loans of up to $500,000 that fund in as quickly as 48 hours1 after application submission.
“LendingTree is thrilled to partner with Funding Circle to bring an affordable SBA alternative to our small business network,” said Greg Libon, VP of Sales at LendingTree. “We are confident adding Funding Circle’s products to our offering will provide our customers with access to flexible working capital solutions that fuel future growth, enabling entrepreneurs to achieve their business aspirations.”
“We are delighted to partner with LendingTree to provide their business customers fast and affordable financing,” said Kristal Bergfield, Head of Strategic Partnerships at Funding Circle US. “Funding Circle is dedicated to getting small business the funding they need to win by partnering with like-minded marketplaces like LendingTree, as well as other commercial loan brokers, financial institutions and companies that provide software and services to small businesses.”
The announcement follows research conducted by the Bank for International Settlements (BIS) and the Federal Reserve Bank of Philadelphia that found Funding Circle is “increasing access to capital at a lower cost for small businesses who are less likely to receive credit from traditional banks…” and “predicting future loan performance more accurately than the conventional method to credit scoring, leading to better loan performance.”
About Funding Circle
Funding Circle (LSE: FCH) a leading online lending platform for small business borrowers. Since 2010, Funding Circle US originated $4.1 billion to 40,000 small businesses in the U.S. and $19.4 billion to 130,000 small businesses globally.
For small businesses, Funding Circle provides a leading-edge customer experience, delivered through its technology, machine learning, and data science, coupled with a human touch. Its solutions continue to help customers access the funding they need to succeed.
For financial institutions, Funding Circle provides a digital end-to-end lending-as-a-service solution enabling quicker, lower cost financing for their small business customers.
For institutional investors, Funding Circle provides access to an alternative asset class in an underserved market and delivers robust and attractive returns.
About LendingTree, Inc.
LendingTree (NASDAQ: TREE) is one of the nation's largest, most experienced online financial platforms, created to give consumers the power to win financially. LendingTree provides customers with access to the best offers on loans, credit cards, insurance and more through its network of over 600 financial partners. Since its founding, LendingTree has helped over 120 million customers obtain financing, save money, and improve their financial and credit health in their personal journeys. With a portfolio of innovative products and tools and personalized financial recommendations, LendingTree helps customers achieve everyday financial wins. LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please visit www.lendingtree.com.
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1 Approval and funding times may vary by lending partner and financing product selected.
