Sage partners with Funding Circle to streamline financing for small businesses
Sage has recently announced that, following the integration of Funding Circle’s lending platform into Sage Accounting, customers that are limited companies will now be able to apply for loans and manage their cash flow easily, with quick and efficient loan application processing and decisions made in minutes.
Initially launching in the UK, small businesses using Sage Accounting will be able to apply for business loans ranging from £10,000 to £500,000, with the option to repay the loan over a period of six months to six years. They will also have access to Funding Circle’s new product, FlexiPay, which is an interest-free line of credit that helps small businesses manage their cash flow.
“Our partnership with Funding Circle is exciting as it simplifies access to loans and funding for SMBs so they can focus on running their businesses, freeing up their time to deliver for their customers. Managing cash flow can be a source of anxiety for customers and this partnership will relieve that stress by reducing waiting time on loan decisions and giving SMB owners peace of mind,” said Neal Watkins, Executive Vice President of Product at Sage.
With more than 130,000 businesses in the UK and US accessing over £14.5 billion through Funding Circle, the two companies intend to develop the partnership with the ambition to expand internationally, including in the US where Funding Circle has a material and growing presence as a small business lending provider.
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