Santander signed a partnership with Funding Circle, a P2P network, to mutually refer potential lenders in UK. Authorities back P2P lending as it allows financing for SMEs. In February it financed a GBP 40M loan round by Funding Circle.
Ana Botin, UK CEO, Santander, said: “SMEs need access to multiple sources of finance, and Santander’s partnership with Funding Circle is a good example of how traditional and alternative finance can work together to help the nation’s SMEs prosper.”
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.