Approved to join US Govt SME stimulus programme

RNS Number : 7067J

Funding Circle Holdings PLC

15 April 2020

 

Funding Circle Holdings plc

APPROVED TO JOIN US GOVERNMENT SME STIMULUS PROGRAMME

15 April 2020

THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014

Funding Circle Holdings plc ("Funding Circle"), the leading small and medium enterprise ("SME") loans platform, today announces it has been approved by the U.S. Small Business Administration (SBA) and U.S. Treasury to originate Paycheck Protection Program (PPP) loans that are 100% guaranteed by the SBA. The program provides small businesses with forgivable loans up to $10 million to cover payroll costs, rent, mortgage interest, or utilities.

ENDS

Media Enquiries:

Funding Circle

David de Koning - Director of Investor Relations and Communications (0203 927 3893)

Headland Consultancy

Mike Smith / Stephen Malthouse (020 3805 4822)

About Funding Circle:

Funding Circle (LSE: FCH) is a global SME loans platform, connecting SMEs who want to borrow with investors and lenders in the UK, US, Germany and the Netherlands. Since launching in 2010, investors and lenders across Funding Circle's geographies - including retail investors, banks, specialty finance companies, asset management companies, insurance companies, government-backed entities and funds - have lent more than £8.5 billion to 80,000 businesses globally.

 

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