A while ago we already informed you about the 100th credit provided by funding circle Netherlands in October 2017. funding circle is experiencing tremendous growth in a short time. The lending platform is mainly specialized in lending credits for SMEs and large companies. In December the 1000th loan was taken out at funding circle Nederland. In total, the lender lent around 50 million euros in the current year.
SME loans without collateral
With virtually no other lender, entrepreneurs can borrow money without collateral. With funding circle that is possible. Companies can take out loans with this business loan provider up to a maximum of € 250,000. It must also be possible to prove at least 2 years and have a turnover of at least € 30,000. A collateral is not a requirement. However, as an entrepreneur you must personally guarantee a business loan . Your annual figures determine the level of interest for an important part.
Double number of business loans
With funding circle it is more than good. For the first time since the establishment, 100 loans were concluded in one month (October 2017). That number of loans accounted for around 5 million euros. In the following month, loans totaling around 1 million euros were taken out. According to Daniel Vergne, he is Head of Collections & Recoveries at funding circle Netherlands, the current growth can certainly continue. There is at least enough room for that. Compared with 2016, the figures have doubled. That is what funding circle wants to realize year on year.
Also reach small one-man businesses
funding circle does not only focus on the larger SME companies. The smaller one-man businesses can also take out a loan from this business loan provider. Yet the smaller one-man businesses still do not really find their way to funding circle. And the company can still grow significantly, according to Daniel.
Yet it also has its advantages that the sole proprietors do not turn to this lender massively. Because “it is certainly not much harder than the current growth”, says Daniel Vergne. “Growth should not be at the expense of the quality of customer contact”. No more money is spent on marketing but name recognition is increasing.
According to Daniel, that is the power of funding circle. As an entrepreneur you also have a better chance of success with Spotcap for a business credit. That is where Investelaars.nl found out.