The European Investment Bank (EIB) is to lend £100 million through Funding Circle, a business financing company that has facilitated more than £1.25 billion of loans to 16,000 businesses in the UK since its launch in 2010.

The company says there is now more money than every before to lend to British businesses, whether they are looking to grow the business, take on new staff, manage cashflow, purchase a property or simply fund a business expense.

Loans from £5,000 to £1 million (£2 million for property finance) and up to £250,000 unsecured are available. Terms range from six months to five years and businesses can repay early at any time, with no early repayment fees.

Companies can check their eligibility for a loan or find more information at the Funding Circle website.