Get a Business Loan

Take your next step with fast, affordable business financing.

Apply Now

Learn how you can invest in American small business.


Get inspired, read advice, and learn how to help your business thrive.

About us

Find out how we’re building a better financial world.

Resources >   Why Funding Circle?  >  News  >  

Funding Circle partners with Department of Commerce


Funding Circle partners with Department of Commerce

Updated: Dec 17, 2015

Funding Circle partners with Department of Commerce

Funding Circle partners with U.S. Department of Commerce’s MBDA to help minority businesses access affordable growth capital

To help minority-owned small businesses navigate the evolving lending landscape and secure the right financing they need to grow, Funding Circle, the world’s leading marketplace for business financing, has partnered with the Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce.

Through the partnership, Funding Circle’s small business experts will deliver a range of original financial education programs to minority business owners through MBDA’s national business center network. The materials will focus on access to alternative capital, business strategy and every business owner’s right to fair and transparent financing, as outlined in the Small Business Borrowers’ Bill of Rights.

“The success of minority-owned businesses is vital to a strong and sustainable U.S. economy, but too many of these great entrepreneurs simply don’t have access to affordable growth capital from traditional lenders,” said Sam Hodges, co-founder and US Managing Director of Funding Circle. “We believe small businesses deserve better and are proud to partner with the MBDA to help minority business owners understand their options and secure the financing they need to grow.”

There are eight million minority-owned business in the United States, and according to the MBDA, access to capital is the single most important factor limiting their establishment, expansion and growth.

“This incredible achievement demonstrates the power of public/private partnerships,” said Alejandra Y. Castillo, MBDA National Director. “New financing options, delivered through marketplace lenders like Funding Circle, have the potential to level the playing field for the nation’s minority entrepreneurs and business owners because lack of financing is the biggest obstacle they face.”

Through the Funding Circle marketplace, businesses looking to borrow up to $500,000 are matched with accredited individual and institutional investors. By bringing together industry leading risk management and cutting edge technology, Funding Circle’s proven marketplace model enables businesses to access affordable term loans with rates as low as 5.49 percent in under 10 days, compared to months with a bank.

About Funding Circle

Funding Circle ( is the world’s leading online marketplace for business loans, matching small businesses who want to borrow with investors who want to lend in the UK, the US and Europe. Since launching in 2010, globally investors at Funding Circle – including 47,000 individuals, financial institutions and even the UK Government – have invested $2 billion in 15,000 businesses. Funding Circle has raised $273m in equity capital from many of the same investors that backed Facebook, Twitter, Airbnb and Wealthfront.

About MBDA

MBDA ( is the only Federal Government agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses. Its programs and services better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally. Services are provided through a network of MBDA Business Centers.

Funding Circle

Tags: News

COVID-19 Small Business Updates

The latest news about Small Business Relief programs and COVID-19 related resources

By clicking “Sign Up for Updates” you agree with our terms of use and acknowledge the privacy policy

Keep Reading See all articles

Take your business further.

dots image

Sign up for Funding Circle newsletter!

Get our latest news and information on business finance, management and growth.

Great Review: