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GC Asia
Funding Circle sets up US financing line with Kansas bank
The US arm of small business lender Funding Circle has set up a partnership with Kansas based InTrust Bank, as the online platform expands its sources of funding and plans to launch a US bond programme.
InTrust Bank will fund $20m of US small business loans originated by Funding Circle, with the partnership expected to expand into a multi-year funding programme that includes joint marketing campaigns, the firm said. The bank will fund loans on a passive basis alongside other institutions on the platform.
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