Funding Circle Enhances Worker Benefits with £500 “Money To Do More” Allowance

This month, Funding Circle, one of the UK’s largest small business loan platforms, has refreshed its ‘Money To Do More’ scheme “with enhanced benefits for Funding Circle employees, known as Circlers.”

The company has “set aside £300k this year, with each of Funding Circle’s 600 Circlers in the UK receiving a £500 allowance to support their development and wellbeing.”

The previously established Learning & Development allowance of £300 is designed “to help individuals with achieving their personal and career development goals.”

As noted in an update shared with CI, the allowance can be “spent on anything from relevant textbooks and subscriptions, through to classes or conferences.”

This supplements the extensive training resources “available via the Company’s internal training facility, the FC Academy.”

The wellness allowance is “a new addition to Funding Circle’s ‘Money To Do More’ scheme in 2022 and is designed to give Circlers the freedom to choose what they need to live a more healthy and balanced life.”

From new running shoes and gym classes/memberships, to a good book or cookery lessons, it is for Circlers “to decide what will make a difference to their wellbeing.”

Circlers can also “transfer their wellness allowance to support their Learning & Development allowance if they so wish.”

Alexander Allen, UK Managing Director at Funding Circle, says:

“Funding Circle is a mission-led business and our people and our culture are among our most important assets. We’re really proud of the value we place on the career development and wellbeing of our Circlers. Who else gives you money to buy running shoes or take up a new hobby of your choice? If it helps our Circlers feel good and find the right balance then it’s important to us as a business.”

The ‘Money To Do More’ scheme sits alongside “an extensive range of employee benefits that Circlers enjoy including enhanced parental leave, equity for all Circlers, private medical insurance, and an electric car scheme.”

Funding Circle is currently “recruiting for more than 70 roles in the UK.”

As covered, Funding Circle is “the UK’s largest loan platform for SMEs.”

Founded in 2010, the firm’s instant decision lending technology “enables small businesses to apply for finance in an average of six minutes, with lending decisions in as little as nine seconds.”

A wide range of investors are “utilizing this technology and distribution platform to lend c. £14 billion to approximately 120,000 businesses globally.”

This is providing small businesses “with the fast and simple access finance they need to grow and power the economy.”

In 2021, lending through Funding Circle’s UK platform “is estimated to have contributed £7.2bn to GDP and supported 100,000 jobs.”

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