Five years ago, Samir Desai, James Meekings and Andrew Mullinger started a crowd-funding site that targeted enterprises with at least 50,000 pounds ($81,550) in annual sales that were having trouble getting credit from British banks. Today, Funding Circle is Britain’s No. 1 online matchmaker for small-business loans. From its inception through Sept. 25, it transacted 373 million pounds in lending between 32,000 investors and 5,000 firms, which pay interest rates ranging from 6 to 15 percent.
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UK: Financial Technology Start-up is Leading the Challenge of Traditional Lending
![UK: Financial Technology Start-up is Leading the Challenge of Traditional Lending](https://smefinanceforum.org/sites/default/files/styles/720x486/public/post/images/501027_sme_finance_forum_4154171415306881twp-2048x1024.jpg?itok=1iTVDrc4)
Nov 06, 2014