Funding Circle and Sage partner to streamline SME finance

By Gloria Methri

UK-based lending platform Funding Circle has partnered with Sage, the accounting, financial, HR, and payroll technology firm for small and mid-sized businesses (SMBs). The collaboration aims simplify secure funding for small businesses.

With the integration of Sage Accounting and Funding Circle’s API, companies will now be able to apply for loans and manage their cash flow easily.

Initially launching in the UK, SMBs using Sage Accounting software can 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.

With more than 130,000 businesses accessing over £14.5 billion through Funding Circle, and one million customers of Sage, this partnership aims to revolutionise access to funding for SMBs. Additionally, the two companies intend to expand the partnership internationally, including in the US where Funding Circle has a growing presence as a lending provider.

Alexander Allen, UK Managing Director at Funding Circle, said, “We are proud to team up with Sage and launch another partnership via our API, increasing access to funding for more small businesses in the UK. We are really looking forward to building our relationship with Sage and its customers, with the potential to expand into the US in the future too.”

Neal Watkins, Executive Vice President of Product at Sage, added, “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. 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.”