Sage and Funding Circle Team up to Streamline Small Business Loans
The Executive Headlines
“Firms will now be capable of applying for loans and easy cash flow management by integrating Sage accounting and Funding Circle's API.”
Funding Circle, a UK-based lending platform, has collaborated with Sage. The partnership is looking forward to streamlining secure funding for small businesses.
Firms will now be capable of applying for loans and easy cash flow management by integrating Sage accounting and Funding Circle's API.
SMBs or smell-medium businesses that will use Sage accounting software are eligible to apply for business loans ranging from £10,000 to £500,000 where companies can repay the loan over a period of six months to six years.
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Neal Watkins, Executive Vice President of Product at Sage, added, “Our partnership with Funding Circle is exciting as it simplifies access to loans and funding for SMBs so they can focus on running their businesses. Managing cash flow can be a source of anxiety for customers and this partnership will relieve that stress by reducing waiting time on loan decisions and giving SMB owners peace of mind.”
Firms can also access Flexi Pay, Funding Circle’s new finance product which is an interest-free line of credit allowing small businesses to easily manage their cash flows.
Since over 130,000 small businesses have accessed more than £14.5 billion through Funding Circle, and one million Sage’s customers, this collaboration is all set to revolutionize funding access to SMBs.
Also, Sage and Funding Circle are looking forward to expanding this partnership globally, including in the US where FC is growing day by day as a finance service provider.
Alexander Allen, UK Managing Director at Funding Circle, said, “We are proud to team up with Sage and launch another partnership via our API, increasing access to funding for more small businesses in the UK. We are really looking forward to building our relationship with Sage and its customers, with the potential to expand into the US in the future too.”