Peer-to-peer lender Funding Circle has reportedly joined forces with UK-based Just Eat to provide takeaway restaurants with discounted business loans. Funding Circle will now offer nearly 30,000 restaurants that use Just Eat the discounted loans. The takeaway businesses will now be able to borrow up to £60,000 from the online lender.
Just Eat’s restaurant services director, Robin Clark, shared more details about the offer:
“Our latest suite of offerings – from flexible funding solutions, help with business rates recovery and even deals for discounted Sky broadband, WiFi and TV – will give our restaurants more opportunities to reduce costs and make their businesses even more profitable and competitive.”
Yilmaz Guney, the owner of Turkish restaurant Petra in Islington and who has taken advantage of the discount offer, revealed:
“Our business is booming. Recently, we were looking to take advantage of an opportunity to expand the business, but the banks were slow and couldn’t provide us with the help we needed.”
Guney went on to add:
“Our partners Just Eat directed us to Funding Circle who arranged the loan for us in a matter of days. By not spending months speaking with the banks I was able to get the finance I needed and focus on running the business and planning for the future.”
Funding Circle recently revealed that since its launch in 2010, its investors have helped over 30,000 businesses globally access $3.8 billion in transparent and affordable financing. The lender has raised $373 million in equity capital from the same investors that backed Facebook, Twitter, and Airbnb.