Lovey integrates Funding Circle API to speed up SME lending process

UK fintech lender Lovey has announced a new integration with Funding Circle aimed at dramatically improving the speed and efficiency of funding applications for small businesses.

The move will see Lovey – formerly known as Love Finance – embed Funding Circle’s API directly into its platform, enabling faster application journeys and more streamlined lending decisions for SMEs.

The integration is designed to reduce friction in the borrowing process by eliminating manual steps and allowing eligible applications to be processed more quickly and consistently. Both companies say the partnership will create a smoother path from initial application through to lender engagement, improving outcomes for businesses seeking finance.

The announcement comes amid growing concern over the UK’s SME finance gap, as traditional high-street lenders continue to tighten access to capital. According to Lovey’s 2026 SME Finance Outlook, 81% of small businesses missed growth opportunities last year due to funding constraints, while 71% expect to seek external finance in 2026.

Industry data highlights the increasing role of alternative lenders in filling that gap. Research conducted by Oxford Economics and Funding Circle found that the platform’s £3 billion loan book contributed £7.9 billion to the UK economy in 2025. That activity supported approximately 117,000 jobs and generated £2.2 billion in tax revenues.

Lovey said the integration reflects its focus on building a scalable, technology-driven lending ecosystem. By connecting directly with one of the UK’s largest SME finance platforms, the company aims to improve reliability while creating scope for further innovation in how funding journeys are delivered.

Alex O’Malley, Chief Commercial Officer at Lovey, said the partnership underscores a shared commitment to improving access to finance.

“This partnership with Funding Circle reinforces a shared mission: using technology and innovation to improve speed, increase scale, and deliver better outcomes for SMEs,” he said.

Rachael Raymond, Head of Broker at Funding Circle, added that the collaboration aligns with the company’s broader strategy of using automation to enhance the lending experience.

“This integration perfectly exemplifies that focus, allowing us to double down on our core mission of helping UK businesses access the funding they need to win,” she said.

The latest development follows Lovey’s earlier API integration with iwoca, making it one of the few brokers in the UK to offer direct connectivity with both platforms. The dual integration is expected to further strengthen Lovey’s position in the fast-growing alternative finance sector, as demand for quicker and more flexible funding solutions continues to rise among SMEs.