FUNDING Circle’s US division has become a partner of payment platform Stripe, giving it access to more business borrowers.
The peer-to-peer business lender now enables Stripe customers to import their data directly and securely to apply for a business loan of up to $500,000 (£382,844) via the platform.
Millions of businesses use Stripe to accept online payments and run their global operations. The fintech’s partner programme aims to increase internet commerce by helping companies start, run and scale their businesses.
“We’re excited to work with Stripe to connect even more business owners with the affordable capital they need to go further,” said Bernardo Martinez, US managing director at Funding Circle. “Funding Circle and Stripe are both dedicated to helping companies scale their businesses in the digital age, ultimately creating jobs, opportunities, and driving growth in the broader economy.”
Funding Circle has lent out $1.9bn to US small businesses to date, with loan terms ranging from six months to five years.
“We’re excited to welcome Funding Circle into our vibrant ecosystem of partners that amplifies the value of Stripe to our users,” said Vicki Lin, head of ecosystem at Stripe. “With this partnership, Funding Circle will reach the millions of businesses on Stripe to provide more effective options for financing, and will help us in our mission to increase the GDP of the internet.”