Supporting small businesses.
Do credit unions still meet the needs of small businesses? Listening to some fintechs, they don't.
"Unlike a bank, our application process is quick, easy and transparent," peer-to-peer lending marketplace Funding Circle said on its website. Comparing its technology- and data-driven approval process to the "clunky and inflexible" underwriting process at traditional banks and credit unions, Funding Circle pitches that it provides funding in as few as five days from acceptance of an offer.
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