Funding Circle announced Customers Bank is expanding its digital SMB lending capabilities through Funding Circle's embedded Lending as a Service (LaaS) platform. The agreement allows Customers Bank to embed Funding Circle's end-to-end digital lending platform in its product suite and marketing assets. The platform handles all elements of offering a loan, allowing Customers Bank to provide its small business customers seamless access to affordable term loans up to $500,000 in as quickly as 48 hours.

This partnership follows a historic announcement by the U.S. Small Business Administration that it has granted Funding Circle a license to offer SBA 7(a) small business loans nationwide which will be available through Funding Circle in early 2024.