Funding Circle announced the beginning of a new partnership aimed at increasing small business owners' access to critical financing and business insurance resources and services. Funding Circle is a market leader in online small business finance in the United States and throughout the world. Additionally, it is one of the country's oldest insurance and financial services organizations.
Through this partnership, an online lender and a large property and casualty insurance will collaborate for the first time to increase small company owners' crucial access to funding and services.
“This partnership with Funding Circle is another example of Nationwide’s commitment to addressing the challenges small business owners are facing – offering expert guidance and comprehensive insurance and lending resources hand-in-hand to help them make informed decisions to fortify their business and livelihoods.”
Kasey Ketcham, Associate Vice President of Commercial Digital Enablement at Nationwide
When compared to white business owners, black business owners are more likely to feel the need to prepare for future uncertainty, with almost half (48 percent) preparing to set away funds in case of a future lockout (28 percent ). This demonstrates the persisting racial inequities in company owners of color's access to financial resources, which the partnership may assist alleviate.
Business owners can apply for cash through Funding Circle and insurance through Nationwide to boost growth and secure their futures. Small company owners may now access educational resources on a variety of topics, including payroll and software, through the creation of new virtual resource centers.
“Funding Circle is thrilled to partner with Nationwide to offer essential resources that seamlessly supplement our customers’ business needs and set them up for success in a competitive market,” said Vipul Chhabra, Managing Director of Funding Circle US.