Small business lending platform Funding Circle will be working with a traditional lender to fund loans on its platform. The fintech is partnering with community bank, INTRUST Bank for this purpose, the companies announced yesterday.
The partnership will consist of “several stages,” the first of which is funding small business loans for Funding Circle clients. Additional funding and investment programs will come later, according to INTRUST.
INTRUST Chief Financial Officer Brian Heinrichs said in a statement:
As a regional bank, we understand that small businesses are the lifeblood of our communities and the nation’s economy. Funding Circle’s customer-focused philosophy and technology platform are an ideal fit for INTRUST.
Currently, Funding Circle has more than 70,000 global investors on its platform.
Learn more about smb lending and fintech partnerships at Bank Innovation 2018 in San Francisco on March 5-6. Request your invitation here.1 - Reader Likes This Post