Funding Circle branded competition in the commercial lending sector as ‘stagnant’ and said new firms were able to outmanoeuvre traditional lenders by offering a quicker service and accepting a wider range of clients.
The lender offers one, three and five year loans exclusively to small businesses, and is targeting brokers looking to finance commercial mortgages.
Launched two years ago with the aim of ending delays in the lending process, Funding Circle has lent over £37 million to 850 small businesses.
Head of sales Laura McMullen said: “Funding Circle offers a powerful new commercial funding hub, which is exactly what the intermediary market has been calling for.
“Intermediaries now have an opportunity to generate the funding their clients need, quickly and with the minimum of bureaucratic obstacles.
“The environment of small business lending has needed a revolution for some time. By bringing together businesses seeking finance, through professional advisers, with investors looking for attractive returns, Funding Circle is driving innovation in the industry.
“Competition for commercial finance has been stagnant for too long. Funding Circle not only provides vital liquidity for small businesses, but an application process light years ahead of the accepted snail paced process employed by traditional lenders.”
