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28 Nov 2018 | 09:27

British Business Bank pledges new £150m commitment with Funding Circle

The British Business Bank on Wednesday made a commitment of up to £150m for lending to UK small businesses through the Funding Circle loans platform.

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

This new commitment extended the existing partnership between Funding Circle and the UK government, the company said.

'This significant commitment further strengthens our successful partnership with the British Business Bank and is a reflection of the work we're doing to provide investors with attractive, risk-adjusted returns,' said Sachin Patel, chief capital officer at Funding Circle.

At 9:27am: (LON:FCH) Funding Circle Holdings Plc Ord 0.1p Wi share price was +7p at 387p

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