Funding Circle partners with Tide
Tide customers can now apply for a Funding Circle loan direct from their Tide account following a partnership between the peer-to-peer lending platform and business bank.
Finding Circle said it has helped over 120,000 businesses worldwide access more than £13bn in funding, and that Tide customers will benefit from the platform’s instant decision lending technology which enables businesses to apply for finance in an average of six minutes, with decisions in as little as nine seconds.
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“At Funding Circle, our aim is to help small businesses access hassle-free finance quickly and easily,” Funding Circle said in a blog on its website.
“Now, Tide account holders will be able to apply for a Funding Circle business loan or a government-backed loan directly from their online account portal, making it simple and straightforward to get the finance they need to grow.
“Like Tide, we focus exclusively on serving small and medium sized businesses.
“Making our application form accessible on Tide’s platform means it will be even easier for businesses to access fast, affordable finance than ever before. We’re excited to start reaching more small businesses with this feature, and help them take their business further.”
Last month, Funding Circle praised plans to extend the government-backed recovery loan scheme for another six months, after it was revealed that the scheme has already approved more than £1bn to small- and medium-sized enterprises across the UK.