Funding Circle Expands Partnership with INTRUST Bank to Support More US Small Businesses
Yesterday, Funding Circle and INTRUST Bank announced the next phase of their strategic partnership, which helps provide capital to American small businesses. This second phase increases INTRUST’s funding commitment and initiates a targeted, co-branded marketing campaign, giving business owners across Kansas, Missouri, Oklahoma, and Arkansas greater access to fast and flexible financing. To date, over 150 American small businesses have received loans backed by INTRUST through the Funding Circle platform. This new increased commitment is anticipated to bring the number of funded small businesses to more than 500.
“This collaboration is a good example of the ways traditional and innovative financial service providers can work together to help small businesses prosper,” said Chief Financial Officer of INTRUST Bank Brian Heinrichs.
“Not only has INTRUST recognized the investment opportunity available through the Funding Circle platform, but this expansion underscores that Funding Circle’s loans are often the best option on the market for American business owners seeking growth capital,” said Funding Circle’s US managing director, Bernardo Martinez. “We view our partnership with INTRUST as a blueprint for the remaining geographies within the US.”
Funding Circle has been among the top five alternative small business funders in the US over the last several years. And earlier this month, the company released a report that demonstrated the demand for alternative financing among small business owners.
Founded in 2010, Funding Circle is a small business loans platform in the US, UK, Germany and the Netherlands, that matches small businesses that want to borrow with investors who want to lend. Investors include more than 70,000 retail investors, banks, asset management companies, insurance companies, government-backed entities and funds worldwide.
Last modified: June 27, 2018
Todd Stone is a reporter for deBanked. Send me a tip or ideas for a story at Todd@deBanked.com.