Funding Circle investors pass £1bn lending milestone

More than half of this money (£500 million) was lent through the marketplace in 2015. Investors are on track to lend a further billion pounds within the next 12 months, as marketplace lending proves to be the preferred option for small businesses looking to access finance.
 
Since launching, 12,000 UK businesses have accessed finance through Funding Circle, across 15,300 loans. Investors at Funding Circle include 45,000 people, the government-backed British Business Bank, 19 local authorities, a university and a wide range of financial institutions.
 
James Meekings, UK Managing Director and co-founder, commented:

“We’re committed to creating opportunities for small businesses that didn’t exist before. For too long, they were reliant on a single line of credit from traditional providers. We’re building the infrastructure where any investor, big or small, can lend. We want to become the first choice for small business finance by making small business lending faster and easier than ever before.”