Pitney Bowes debuts small business lending initiative

Stamford-based Pitney Bowes Inc. is partnering with the online small business lending platform Funding Circle of a new initiative to provide loans to their small business customers.

Under this partnership, Pitney Bowes will offer small business term loans to their customers via Funding Circle”™s online application and loan origination process. Qualified borrowers can be approved in as little as 48 hours, and the companies said this initiative provides market competitive rates.

“America”™s 32.5 million small businesses are the driving force behind our economy, but the number of small business loans approved by large banks has halved in just two years,” said Christopher Johnson, senior vice president and president of Pitney Bowes Financial Services. “Our partnership with Funding Circle will help business owners on Main Street get the working capital they desperately need to grow their business. In addition, it positions Pitney Bowes for long-term growth, as we create new value for our clients with new offerings.”