Funding Circle, a small business loans platform, and Congressional Bank, a bank headquartered in Maryland, extended their existing lending partnership to provide more capital to small businesses across the U.S. This second phase of the partnership will expand Congressional Bank’s purchase of loans through the Funding Circle platform.
“We have been dedicated to helping small business owners obtain essential funding throughout the pandemic through our partnership with Funding Circle and our participation in the Paycheck Protection Program where we funded over 2,600 loans to small businesses. This partnership is an important part of our efforts to support more small businesses and aligns well with our focus on positively impacting the communities we serve,” Adam Hoehn, executive vice president of technology-enabled lending for Congressional Bank, said.
“Funding Circle is thrilled to partner with Congressional Bank to help hundreds of small businesses get the financial assistance they need,” Vipul Chhabra, managing director of Funding Circle, said. “The success of American small businesses plays an important role in creating jobs and supporting economic recovery, which drives our commitment to providing efficient, innovative funding solutions and working with partners that help extend our community reach.”