In addition to applying for capital on the Funding Circle platform, NSBA members will also be able to access financial education materials developed by Funding Circle’s business financing team.
“At Funding Circle, we believe America’s 28 million small businesses deserve a better lending experience – successful and established business shouldn’t have to scramble to access affordable financing that is critical to growing their business,” said Sam Hodges, Funding Circle co-founder and U.S. managing director.
America’s economic recovery has been hampered by a lack of capital which has prevented one-third of the country’s small businesses from growing their operations, according to an NSBA report.
“Despite significant improvements in economic outlook, more small-business owners report a lack of financing is hindering their ability to finance increased sales or increase inventory to meet demand,” said Todd McCracken, NSBA president and CEO. “This is why NSBA is proud to partner with Funding Circle to offer our members another way to garner the quality, affordable financing they need.”
Small businesses may borrow up to $500,000 on the platform and can expect funds within two weeks.