Small Business Term Loans from Funding Circle Now Available to LendingTree Customers
Funding Circle, the online platform for small business loans, announced that it has partnered with one of the nation’s largest online lending marketplaces, LendingTree, to offer LendingTree business customers access to fast, affordable financing from Funding Circle.
“predicting future loan performance more accurately than the conventional method to credit scoring, leading to better loan performance.”
By offering Funding Circle’s term loan product in LendingTree’s online marketplace, businesses will have access to even more flexible financing solutions, including Funding Circle’s six month to seven-year term loans of up to $500,000 that fund in as quickly as 48 hours1 after application submission.
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“LendingTree is thrilled to partner with Funding Circle to bring an affordable SBA alternative to our small business network,” said Greg Libon, VP of Sales at LendingTree. “We are confident adding Funding Circle’s products to our offering will provide our customers with access to flexible working capital solutions that fuel future growth, enabling entrepreneurs to achieve their business aspirations.”
“We are delighted to partner with LendingTree to provide their business customers fast and affordable financing,” said Kristal Bergfield, Head of Strategic Partnerships at Funding Circle US. “Funding Circle is dedicated to getting small business the funding they need to win by partnering with like-minded marketplaces like LendingTree, as well as other commercial loan brokers, financial institutions and companies that provide software and services to small businesses.”
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The announcement follows research conducted by the Bank for International Settlements (BIS) and the Federal Reserve Bank of Philadelphia that found Funding Circle is “increasing access to capital at a lower cost for small businesses who are less likely to receive credit from traditional banks…” and “predicting future loan performance more accurately than the conventional method to credit scoring, leading to better loan performance.”
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