The British Business Bank has announced up to £150 million of new lending to UK small businesses through Funding Circle.

The new facility will provide senior financing to a transaction with the Funding Circle SME Income Fund, a publicly-traded fund that lends exclusively through Funding Circle.

The new commitment extends the partnership between Funding Circle and the UK government and is expected to support the growth of more than 2,000 UK firms. Since March 2013, £165 million has been lent directly to UK small firms through Funding Circle using British Business Bank programmes, earning around £10m in cumulative net interest for the taxpayer.

 

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