# Fintech-Supported Paycheck Protection Programs Funding Circle is Approved to Provide Loan Relief By Kalin Ned | Published 2020-05-05 | Business Source: Trend Hunter, https://www.trendhunter.com/trends/paycheck-protection-program References: [fundingcircle](https://www.fundingcircle.com/us/resources/funding-circle-approved-to-issue-paycheck-protection-program-loans/) & [fundingcircle](https://www.fundingcircle.com/us/paycheck-protection-program-loans/) Funding Circle is considered to be the "largest small business lending fintech [firm]" and in April, it was approved to deliver Paycheck Protection Program loans through its online portal. Available in the United States, the service is offered in four languages, including English, Spanish, Mandarin, and Hindi. As a business, Funding Circle focuses on candidates that have been "historically under-served by traditional lenders," allowing for more flexibility with a transparent line of credit. The Paycheck Protection Program is authorized by the CARES Act and amounts to a $350 billion USD program in full. In addition, it includes "provisions for loan forgiveness up to 100%, if the proceeds of the loan are used for certain payroll costs, interest on mortgages, rent, and utilities." ## Trend Insights (Trend Hunter) - Score: 1.4/10 - Popularity: 8% | Activity: 25% | Freshness: 9% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Business](https://www.trendhunter.com/business) > [Market](https://www.trendhunter.com/market) ## Key Themes ### What Makes This Trend Stand Out - **Fintech-supported Paycheck Protection Programs:** Fintech companies can leverage online portals to offer small business lending options with flexible and transparent lines of credit. - **Online Lending Platforms for Historically Under-served Candidates:** Online lending platforms can serve historically under-served candidates by providing more flexible and transparent lines of credit. - **Loan Forgiveness Provisions:** Lending programs with loan forgiveness provisions can incentivize small businesses to take out loans for certain payroll costs, interest on mortgages, rent, and utilities. ### Sectors Adopting This - **Fintech:** Fintech companies can take advantage of the Paycheck Protection Program by offering flexible and transparent small business lending options online. - **Online Lending:** Online lending platforms can cater to historically under-served business candidates by offering flexible lines of credit. - **Small Business Loans:** Lenders who offer loan forgiveness for certain payroll expenses, interests on mortgages, rent and utilities, will incentivize small businesses to take out loans. ## Related on Trend Hunter - [Embedded Lending Platforms](https://www.trendhunter.com/trends/adyen-launched.md) - [Service Business-Focused Financial Solutions](https://www.trendhunter.com/trends/acorn-finance.md) - [Low Income-Targeted Payroll Platforms](https://www.trendhunter.com/trends/b9.md) - [Integrated Business Banking Tools](https://www.trendhunter.com/trends/pennyflo.md) - [Startup Funding Directories](https://www.trendhunter.com/trends/credit-for-startups.md) - [Intelligent Loan Platforms](https://www.trendhunter.com/trends/levrai.md) - [Responsible Lending Platforms](https://www.trendhunter.com/trends/enova.md) - [Cashflow Maintenance Credit Payments](https://www.trendhunter.com/trends/american-express-flexible-payment-option.md) - [Equity-Free Funding Platforms](https://www.trendhunter.com/trends/pilea.md)