Updated: 26 January 2021
It’s been said many times, but 2020 was a year of unprecedented challenges. Although the news has at times been difficult to bear, there have been many sources of pride, hope and encouragement as people have come together to support one another.
Small businesses have been among the most severely affected. In their hour of need, we’re proud to have worked with our introducer community to support thousands of SMEs through this difficult period, with more funds lent through our introducer channel than ever before. Every loan contributes to the economic recovery, protects livelihoods and families, and is a testament to the hard work put in by all involved.
As we look to the year ahead, as the vaccine roll out gives hope that the end of the pandemic will soon be in sight, we’ll continue to invest in our introducer team and technology to provide the best service possible. Below we take a look at some of the highlights and what’s to come.
Funding Circle is the 5th largest CBILS lender
Thanks to the fantastic support of our introducer community, Funding Circle has helped thousands of businesses access funds through CBILS. As of 15th November, we’ve originated c.£1.35 billion, making us the 5th largest CBILS lender. We have also approved c.£1.85bn of CBILS loans, representing c.24% of loans approved since we began participating.
This level of lending would not have been possible without our introducers, so again we’d like to say thank you for all your hard work this year.
What’s next for Funding Circle Introducers?
We want to continue to build on the success of our introducer channel throughout next year.Our Head of Partnerships, Fran Warrington, had this to say “2020 was a huge year for our Introducers and we worked even more closely than ever with our Partner community to support their clients through delivering the CBILs and Bounce Back Loans schemes.”
“Despite the challenges 2020 produced, we supported more partners and more business than ever, and look forward to continuing to do so in 2021 through new technology and working with both new and familiar partners”.
Mike Morris, our Head of Business Development, added “We are looking forward to an exciting 2021 and being able to come out and see you face to face again soon. We will have our new, even bigger Introducer team to service our valued relationships, improved tech capabilities in our ‘Instant decisioning‘ system and enhanced Broker Communications Portal, plus work on our Partner API project that can help make referring clients even easier.”
Some of key areas we’ll continue to focus on are:
1) Team structure – We’ll be redefining how we structure our team internally to cater for a post CBILS world. Our plan is to focus on service improvements to the introducer market.
2) Technology – We’ll continue to develop and evolve the technology we utilise. The aim is to enhance our offering to you and your clients.
3) Building closer relationships – Using the valuable feedback that we’ve received throughout the year, we want to build closer, reciprocal relationships with our introducers in 2021. We want to keep you informed and share our content, and will be communicating more through newsletters, personal calls and product updates.