Funding Circle has formed a partnership with H&R Block to provide loans to the tax preparation firm’s small-business customers.
Financial terms of the arrangement were not disclosed. The partnership was announced on Friday.
Funding Circle, a marketplace lender that operates in the U.S. and the U.K., offers small-business loans of up to $500,000.
H&R Block in Kansas City, Mo., will make those loans available to small-business customers who use its bookkeeping, payroll, tax and accounting services. H&R Block's small-business customers have less than $20 million in yearly revenue.
The partnership is the latest in a series of deals between marketplace lenders and other firms that have small-business customers. Marketplace lenders often see these referral deals as a way to lower the often-steep cost of acquiring new customers.
[Coming this November: Marketplace Lending + Investing. Hear how participants in this fast-growth niche are using data and technology to propel lending into the 21st century.]