Small business lending platform Funding Circle and Kansas-based INTRUST Bank today announced a strategic partnership to support the growth of US small businesses. It will be rolled out in various stages with the initial phase consisting of INTRUST funding US small business loans originated through Funding Circle. Later stages include growing the investment with the intention to extend into a multi-year funding program and joint digital and direct marketing campaigns.
INTRUST joins more than 70,000 investors globally – including individuals, financial institutions, government, and the listed Funding Circle SME Income Fund – who have provided $5 billion in financing to more than 40,000 businesses through Funding Circle, creating 100,000 jobs.
“Every dollar invested through our platform has a ripple effect in cities and towns across America, by enabling Main Street small businesses to grow, hire and expand,” said Sam Hodges, co-founder and U.S. managing director, Funding Circle. “This makes Funding Circle an ideal investment opportunity for banks such as INTRUST focused on bringing tangible impact to the communities they serve, and we look forward to further growing our platform with support from additional institutional partners here and abroad.”
“We are excited to partner with Funding Circle to enhance our ability to serve small business customers,” said Brian Heinrichs, chief financial officer, INTRUST Bank. “As a regional bank, we understand that small businesses are the lifeblood of our communities and the nation’s economy. Funding Circle’s customer-focused philosophy and technology platform are an ideal fit for INTRUST.”