Funding Circle, one of the UK’s largest small business lending platforms, and Bayview Asset Management (Bayview), an investment management firm headquartered in Coral Gables, Florida, has formed a new lending partnership that is targeting the provision of £700 million funding to small businesses over an 18 month period.
This partnership will see Bayview support thousands of UK SMEs by leveraging Funding Circle’s technology and distribution platform. Funding Circle’s powerful credit models — driven by a decade of technology and data investment — will provide Bayview with a highly efficient and cost-effective mechanism to deploy capital to the real economy.
Funding Circle’s market-leading and unparalleled instant decision lending (IDL) technology enables small businesses to apply for finance in an average of six minutes, with lending decisions in as little as nine seconds. This seamless functionality is helping provide small businesses with fast and simple access to finance, allowing them to grow, create jobs and power the economy.
Bayview, through its managed funds, joins a diverse group of lending investors using Funding Circle’s platform, including banks, asset management companies, insurance companies, government-backed entities, individuals and funds. Including today’s announcement, four of these lending investors have committed up to £2.4 billion of vital funding to support UK SMEs, and the UK economy.