Peer to peer lending platform Funding Circle (US) has just tweaked their loans as they want to encourage small business to greater advantage of their funding platform. The P2P lender has adjusted their rates to as low as 8.99% for a two year term loan. As the term of the loan goes up – so do the rates.
The 2 year term loan is also designed for investors who seek the flexibility and liquidity of a shorter term product and another diversification option for their portfolio. The first two-year term loans are expected to list on the marketplace in mid September.
Funding Circle has lent over $600 million globally (US & UK) since their launch in 2010. The P2P lender wants to capture the small business market that “banks have left behind”.
