Funding Circle passes major milestone

Published on

funding-circle

UK investors have now lent more than £200m to UK businesses through Funding Circle in under three and a half years.

The peer-to-peer lending marketplace, exclusive to business borrowers, has helped over 3,000 businesses access the finance they need to grow and expand.

Of the £200m total, £130m has been lent out in 2013 alone, creating an estimated 6,150 jobs across the country.

The record week for lending was in December 2013, when £5.3 million made its way to businesses across the UK in seven days.

Laura McMullen, business development director at Funding Circle, said: “Over the last three years, Funding Circle has provided businesses with a faster, more efficient way of accessing the finance they need. What we are seeing now is not just the emergence of a challenger model but a fundamentally better method of borrowing and lending that will continue to grow in importance over the coming years.

“Brokers continue to be instrumental in our growth. We have seen a threefold increase in the number of brokers we have relationships with in the last year and we hope to continue to grow this in 2014.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

PMS reports double-digit growth in mortgages and protection

PMS Mortgage Club says it is on course for its strongest performance in five...

Property firms urged to engage early with digital home-moving reforms

Property professionals have been urged to start testing digital home-moving processes now rather than...

DPMSG launches consumer guide to Smart Property Data

The Digital Property Market Steering Group has launched a consumer-focused video explaining how Smart...

Together joins Equity Release Council as later life market broadens

Together has become a member of the Equity Release Council as the specialist lender...

Cambridge BS funding supports expansion of domestic abuse charity

The Angels Foundation UK has opened a wellbeing centre in Cambridgeshire after receiving the...

Latest publication

Other news

PMS reports double-digit growth in mortgages and protection

PMS Mortgage Club says it is on course for its strongest performance in five...

Property firms urged to engage early with digital home-moving reforms

Property professionals have been urged to start testing digital home-moving processes now rather than...

DPMSG launches consumer guide to Smart Property Data

The Digital Property Market Steering Group has launched a consumer-focused video explaining how Smart...