Funding Circle closed its first asset-backed securitization of U.S. small business loans originated through its platform. The $198 million deal marks the debut of Funding Circle’s U.S. securitization sponsorship capability.
Funding Circle has lent more than $5 billion globally to small businesses including $1 billion lent to businesses in the U.S.
Funding Circle, a lending platform focused exclusively on small business, added Joanna Karger as U.S. head of Capital Markets, and Richard Stephenson as U.S. chief compliance officer.
Madison Street Capital acted as exclusive advisor in arranging a credit facility for TMAG Industries, dba Stellar Solar. The credit facility was provided by Funding Circle.