FUNDING Circle has launched a new feature for borrowers in the US, to give them more choices over their loans.
The peer-to-peer business lender’s US division has unveiled Small Business Choice, which provides borrowers with three loan options with different terms and rates, after a successful loan application.
The feature is being rolled out to all new and existing applications after an initial pilot programme.
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The loans directly outline the total loan amount, term, rate and monthly payment.
“At Funding Circle, we are committed to the best customer experience, which includes creating flexibility for our borrowers,” said Bernardo Martinez, managing director of Funding Circle US.
“Traditionally, deciding on what loan terms are best can be hard for small business owners, but Small Business Choice offers a straightforward way to pick the right loan for them.”
Funding Circle US is a founding member of the Responsible Business Lending Coalition and signatory to the Small Business Borrower Bill of Rights. The firm says it is committed to providing convenient and transparent financing to small business owners that have traditionally been underserved by traditional lenders.
Funding Circle launched in the UK in 2010 and expanded into the US in 2013. It also operates in the Netherlands and Germany.