US bank expands commitment to back Funding Circle loans
US REGIONAL lender INTRUST has expanded its partnership with Funding Circle to back loans to American small businesses.
The Kansas-based bank has already funded more than 150 loans on the US version of the Funding Circle platform following a deal signed in January, and is now expected to back more than 500 in total following a new agreement.
“We are thrilled that INTRUST Bank has chosen to implement the next phase of our partnership,” said Bernardo Martinez, US managing director of Funding Circle.
“Not only has INTRUST recognised the investment opportunity available through the Funding Circle platform, but this expansion underscores that Funding Circle’s loans are often the best option on the market for American business owners seeking growth capital.
“We view our partnership with INTRUST as a blueprint for the remaining geographies within the US.”
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INTRUST will also launch a marketing campaign to make business borrowers in Kansas, Missouri, Oklahoma, and Arkansas aware of Funding Circle.
“For more than 140 years, INTRUST has continuously sought ways to give our customers greater opportunities to succeed, and our growing partnership with Funding Circle is the latest step in that commitment,” said Brian Heinrichs, chief financial officer of INTRUST Bank.
“This collaboration is a good example of the ways traditional and innovative financial service providers can work together to help small businesses prosper.”
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