Funding Circle Approved to Issue Paycheck Protection Program Loans, Guaranteed by the US Small Business Administration

Largest small business lending fintech is one of a few non-depository online lenders to receive approval to participate in the program

Offers application support in four languages: English, Spanish, Mandarin, and Hindi

SAN FRANCISCO--(BUSINESS WIRE)--Funding Circle, the leading online small business loan platform in the United States, is approved to provide Paycheck Protection Program loans through the company’s online portal.

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

“We are glad to be able to offer this government guaranteed forgivable loan that can provide critical capital to small business owners coping with this unprecedented period of economic upheaval,” said Bernardo Martinez, Managing Director of Funding Circle US. “This crisis is about saving Main Street small businesses, and the Paycheck Protection Program is vital to ensure these businesses retain their employees.”

Funding Circle will also provide support to applicants in four languages -- English, Spanish, Mandarin, Hindi.

The Paycheck Protection Program is a $350 billion program authorized by the CARES Act, and includes provisions for loan forgiveness up to 100%, if the proceeds of the loan are used for certain payroll costs, interest on mortgages, rent, and utilities.

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.

About Funding Circle:

Funding Circle (corporate.funding circle.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.