Funding Circle SME agrees loan with EIB
The European Investment Bank has agreed a £100m investment in loans to UK small businesses originated through London-headquartered Funding Circle. This investment, alongside £25m from the Funding Circle SME Income Fund, will enable more than £200m of new loans over seven years. This new partnership with Funding Circle represents the first deployment of EIB funding through a direct lending marketplace to support small businesses. Since launching in 2010, Funding Circle has facilitated more than £1.25bn of loans to 16,000 businesses in the UK.