UK SMEs are set to benefit from a £100m investment in loans from the European Investment Bank.
This investment, alongside £25 million from the Funding Circle SME Income Fund, will enable over £200 million of new loans over seven years, and provides a further injection of much-needed funding into the UK small business sector.
This new partnership with Funding Circle represents the first deployment of EIB funding through a direct lending marketplace to support small businesses.
Samir Desai, CEO and co-founder of Funding Circle said: “Our partnership with the European Investment Bank is the first of its kind and represents another important step on our journey to creating a global marketplace where creditworthy businesses borrow from a diverse range of investors.
“This significant investment will ensure more businesses access the finance they need to grow and will help support economic growth and job creation across the UK.”
By linking supply directly with demand through Funding Circle’s marketplace, the European Investment Bank will provide much-needed funding to UK small businesses.
