Funding Circle announced that it is now operational in Nevada, allowing it to provide the state's more than 280,000 small businesses with much-needed access to capital. With operations live in Nevada, Funding Circle now offers loans to businesses in all 50 states and Washington, D.C. In Nevada, securing capital funding has historically been very difficult for small businesses. According to the Nevada Small Business Development Center's (SBDC) 2022 Small Business Challenges Survey, securing financing is one of the largest obstacles facing small businesses in Nevada.

Nearly 60% of survey respondents reported that securing debt and capital to finance their business was a challenge. The announcement follows the release of research conducted by the Bank for International Settlements (BIS) and the Federal Reserve Bank of Philadelphia that analyzed proprietary loan-level data from two fintech small business lending platforms, one of which was Funding Circle. The study found that Funding Circle is increasing access to capital at a lower cost for borrowers who are less likely to receive credit from traditional banks and predicting future loan performance more accurately than the conventional method to credit scoring, leading to better loan performance.