Approved to Join US Government SME Stimulus Programme — Funding Circle Holdings plc (15 April 2020)
Summary
Funding Circle Holdings plc announcement dated 15 April 2020, headed Approved to join US Government SME stimulus programme. It says Funding Circle has been approved by the U.S. Small Business Administration (SBA) and U.S. Treasury to originate Paycheck Protection Program (PPP) loans that are 100% guaranteed by the SBA. The announcement describes the program as providing forgivable loans up to $10 million to cover payroll costs, rent, mortgage interest, or utilities. It states that it includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and an About Funding Circle section follows.
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“Approved to Join US Government SME Stimulus Programme — Funding Circle Holdings plc (15 April 2020).”
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Approved to join US Govt SME stimulus programme
15 April 2020
APPROVED TO JOIN US GOVERNMENT SME STIMULUS PROGRAMME
THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014
Funding Circle Holdings plc ("Funding Circle"), the leading small and medium enterprise ("SME") loans platform, today announces it has been approved by the U.S. Small Business Administration (SBA) and U.S. Treasury to originate Paycheck Protection Program (PPP) loans that are 100% guaranteed by the SBA. The program provides small businesses with forgivable loans up to $10 million to cover payroll costs, rent, mortgage interest, or utilities.
ENDS
Media Enquiries:
Funding Circle Press Team
+44 (0) 20 3667 2245 press@fundingcircle.com
About Funding Circle:
Funding Circle (LSE: FCH) is a global SME loans platform, connecting SMEs who want to borrow with investors and lenders in the UK, US, Germany and the Netherlands. Since launching in 2010, investors and lenders across Funding Circle's geographies - including retail investors, banks, specialty finance companies, asset management companies, insurance companies, government-backed entities and funds - have lent more than £8.5 billion to 80,000 businesses globally.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com .
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