Business Bank backs Funding Circle with £40m

Posted at February 25, 2014 | Categories : News

The Government has announced that its British Business Bank programme is making a new £40 million investment to support further lending to smaller businesses through peer-to-peer lender, Funding Circle.

This investment will start on 1st March 2014 and is expected to support around £450 million of lending over the next 18 months.

The move builds on an earlier investment of £20 million in Funding Circle in December 2012 through the Business Finance Partnership, a scheme which led to the current Business Bank investment programme.