Funding Circle, the online lending platform for small businesses, today announced that Customers Bank is expanding its digital SMB lending capabilities through Funding Circle’s embedded Lending as a Service platform. The agreement allows Customers Bank to embed Funding Circle's end-to-end digital lending platform in its product suite and marketing assets. The platform handles all elements of offering a loan, allowing Customers Bank to provide its small business customers with seamless access to affordable term loans up to $500,000 in as quickly as 48 hours. ""As a midsize bank, we are committed to supporting the growth and success of local businesses,"" said Marc Rehberger, SVP, Sr. Managing Director, Head of Tech-Enabled Banking at Customers Bank. This exciting partnership follows a historic announcement by the U.S. Small Business Administration that it has granted Funding Circle a license to offer SBA 7(a) small business loans nationwide.
Funding Circle, the online lending platform for small businesses, today announced that Customers Bank is expanding its digital SMB lending capabilities through Funding Circle’s embedded Lending as a Service platform. The agreement allows Customers Bank to embed Funding Circle's end-to-end digital lending platform in its product suite and marketing assets. The platform handles all elements of offering a loan, allowing Customers Bank to provide its small business customers with seamless access to affordable term loans up to $500,000 in as quickly as 48 hours. ""As a midsize bank, we are committed to supporting the growth and success of local businesses,"" said Marc Rehberger, SVP, Sr. Managing Director, Head of Tech-Enabled Banking at Customers Bank. This exciting partnership follows a historic announcement by the U.S. Small Business Administration that it has granted Funding Circle a license to offer SBA 7(a) small business loans nationwide.