Funding Circle passes £300m lending milestone

The online marketplace for business loans has helped over 5,000 businesses access finance, creating an estimated 15,000 jobs.

James Meekings, co-founder of Funding Circle, said: “The growth we have seen over the last six months is clear evidence that small businesses place speed, transparency and efficiency at the heart of borrowing.

"Marketplace lending is increasingly becoming a mainstream part of financial services and there is significant potential for further growth over the next few years.

“We recently announced a partnership with Santander and this will create thousands more opportunities for small businesses to access finance and increase awareness of alternative sources of finance."