DENVER–(BUSINESS WIRE)–Funding Circle, one of the leading online small business lending platforms in the United States, has launched a new program for BancAlliance, a network of more than 325 community banks, where participating members can purchase from a diverse pool interest in small business loans from Funding Circle’s platform. This innovative program offers BancAlliance member community banks an efficient and cost-effective way to invest capital in Main Street businesses.
“Funding Circle is delighted to launch this program for the BancAlliance network. Leveraging our world-class technology capabilities and small business underwriting expertise to work with traditional financial institutions, namely local and regional banks, is central to our commitment to finding the best ways to meet the financing needs of small businesses,” said Vipul Chhabra, Managing Director of Funding Circle US.
“We are delighted to launch our Funding Circle loan program and look forward to offering our member banks the opportunity to purchase a diverse portfolio of small business loans, underscoring the BancAlliance network’s commitment to broadening access to the fund. turnover for small businesses. Community banks have long been strong supporters of small business, and this program with Funding Circle will provide members with new ways to grow this core value of community banking,” said Lori Bettinger, President of BancAlliance.
Local and regional banks are invited to participate in a webinar organized by BancAlliance on June 6, 2022, to learn more about providing critical capital to small businesses through the Funding Circle platform.
About the Funding Circle:
Funding Circle (LSE: FCH) is a lending platform for small and medium-sized enterprises (“SMEs”). Since its launch in 2010, investors and lenders from all Funding Circle geographies – including banks, specialty finance companies, asset management companies, insurance companies, entities and funds government-backed – have lent approximately $18 billion to more than 120,000 companies worldwide.
BancAlliance offers community banks efficient access to lending services available only through membership. BancAlliance has over 325 member banks across the country. Our mission is to enable our members, the banks that drive our business, to prudently diversify into high quality lending, in accordance with the highest business and regulatory standards, without changing the nature or mission of traditional community banking. More information on www.bancalliance.com.