iBusiness Funding Reviews

iBusiness is a software platform that matches businesses with funders, lenders and providers of other financial products, but it does not lend money itself. It may refer a business directly to a lender or a merchant cash advance provider.

A merchant cash provider purchases future sales of your product, and then you repay using a percentage of sales, plus a fee. It's similar to Lender Match, the SBA’s software program.

For traditional financial institutions and lenders, it offers lending-as-a-service (LaaS) software powered by AI. Through this software, lenders can outsource many of the services offered in a loan process, such as underwriting, closing and servicing.

iBusiness has two main branches of services: for borrowers and for lenders.

For lenders, iBusiness Funding offers financial institutions lending-as-a-service (LaaS). Lenders can outsource many of the services in a traditional SBA loan process, such as underwriting, closing and servicing.

For borrowers looking to obtain a loan, iBusiness will match companies based on their qualifications, credit score and loan amount with potential third-party lenders. Funding rates are not set by iBusiness Funding; the third-party lenders determine those.

iBusiness matches potential candidates when they fill out a brief form online with relevant information about their business, such as when it was founded, percentage owned and contact information. It also asks how much you're looking to borrow and for what purpose the funds will be used.

At the end of the form, it will ask for a user’s social security number for a soft credit check.

iBusiness Funding does not have fees; it gets paid by third-party lenders.

Yes, iBusiness is a legitimate software company that matches small- and medium-sized businesses with potential lenders; it is not the lender itself.

It has not been in business long, but it has had content published in USA Today, Banking CIO Outlook and Digital Journal.