Lender Wirefund is to expand its lending to sole traders and partnerships following FCA approval.

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Wirefund to expand lending to 3.6m more businesses after FCA approval

London-based business lender Wirefund is set to significantly expand its loan service just three and a half months after it launched after obtaining approval from the Financial Conduct Authority (FCA).

The approval means Wirefund can now start providing loans to sole traders and partnership businesses, accounting for an additional 3.6m businesses that now fall within its lending remit.

Focusing on fast finance for small businesses, Wirefund aims to give SMEs access to lending without having to secure loans against personal assets, instead carrying out personal evaluations based on bank statements and credit files.

Following the latest FCA approval, Amit Sankey, Founder and Chief Executive Officer commented: “Small business is the growth engine of the British economy and finance is the fuel.

“We have lent out almost 800k since our launch three and a half months ago, much more than expected. There is a real demand for our offering, and we are excited that we can support even more British businesses through our approval.”

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