Funding Circle Launches Pre-Application System for Paycheck Protection Program Loans

Small business owners can indicate interest and prepare their applications to receive funds as soon as program is available

SAN FRANCISCO--(BUSINESS WIRE)--Funding Circle, one of the largest US online small business loan platforms, launched a pre-application system for small business owners interested in funds from the Paycheck Protection Program, offered by the US Treasury and Small Business Administration (SBA).

Small business owners interested in applying for the Paycheck Protection Program loans can click here.

Our account managers will contact interested small business owners as soon as 90 minutes after their sign-up, and work with them to prepare their application in an effort to access funding as soon as Funding Circle is approved under the program to lend.

“Funding Circle is doing all we can to help small business owners get quick access to vital capital during this historic crisis,” said Bernardo Martinez, Managing Director of Funding Circle US. “Our pre-application system will enable many small business owners to get the funding they need as soon as fintech lenders are admitted into the program.”

As a founding member of the Responsible Business Lending Coalition and signatory to the Small Business Borrower Bill of Rights, Funding Circle is committed to providing transparent financing and access to responsible, transparent credit for small businesses that have historically been under-served by traditional lenders.

The Paycheck Protection Program is a $350 billion loan program authorized by the latest US economic stimulus package. These federally-guaranteed, forgivable loans can cover payroll and an array of other operating expenses.

About Funding Circle:

Funding Circle (corporate.fundingcircle.com) is a global small business loans platform. Since launching in 2010, more than 81,000 small businesses have borrowed $11.7 billion in Funding Circle’s four geographies -- the UK, US, Germany, and the Netherlands. Investors on the Funding Circle platform include more than 100,000 retail investors, banks, asset management companies, insurance companies, government-backed entities, and funds. For more about the business, please find Funding Circle US statistics here.