Funding Circle, one of the most popular online small business loan platforms in the United States, has launched a new program for BancAlliance, a network of over 325 community banks, in which participants can buy a diversified pool of interests in small business loans originated on Funding Circle's platform. With this new idea, the community banks that are part of BancAlliance can invest in Main Street businesses in a more efficient and cost-effective way.
“Funding Circle is delighted to launch this program for the BancAlliance network. Leveraging our world-class tech capabilities and small business underwriting expertise to work with traditional financial institutions, namely local and regional banks, is central to our commitment to finding the best ways to meet the funding needs of small businesses.”
-Vipul Chhabra, Managing Director of Funding Circle U.S
They were pleased to announce the launch of the Funding Circle loan program and look forward to providing their member banks with the opportunity to purchase a diverse portfolio of small business loans, demonstrating their commitment to expanding small business access to working capital.
“Community banks have long been powerful supporters of small businesses, and this program with Funding Circle will provide members new ways to grow that core value of community banking.”
-Lori Bettinger, President of BancAlliance
Local and regional banks are invited to attend a BancAlliance webinar on June 6, 2022, to learn more about using Funding Circle's platform to supply crucial finance to small businesses.