March 14, 2016
SME Income Fund starts lending to businesses in Europe
Leading global marketplace for business loans further diversifies its pool of investors
The Funding Circle SME Income Fund will today begin lending to small businesses through Funding Circle’s marketplaces in Germany, Spain and the Netherlands, helping small businesses access the financing they need to grow.
The SME Income Fund was listed in November 2015 on the London Stock Exchange, having successfully raised £150 million from shareholders including asset managers, pension funds and private wealth managers. The fund was set up to lend to small businesses exclusively through the Funding Circle marketplaces, and already lends to businesses in the UK and US.
From today, thousands of businesses in the three additional countries will benefit, by borrowing from an even wider range of investors. Since 2010, more than $2 billion has been lent by investors to 15,000 businesses through Funding Circle – creating an estimated 50,000 new jobs in the UK alone.
Matthias Knecht, co-founder and Managing Director of Funding Circle Continental Europe said: “Funding Circle is driving a global revolution in the way small businesses access financing. Having the SME Income Fund lend to businesses in Germany, Spain and the Netherlands is another important milestone on our way to diversifying our investor base and ensuresbusinesses receive the fast and efficient access to capital they deserve.”
By bringing together industry leading risk management and cutting edge technology, Funding Circle offers a new way of small business lending. By matching investors directly with borrowers, businesses can access financing in a fast and seamless way, without the need for inefficient bank processes. Eligible businesses typically have a minimum turnover of at least 100.000 euro during the past two financial years, have been trading for at least two years and pass Funding Circle’s credit assessment process.
For further information on the Funding Circle SME Income Fund please visit http://fcincomefund.com/
This is not intended as an offer for sale of any securities, nor as a financial promotion. The Funding Circle Team