iBusiness Funding (formerly Funding Circle) 2025 Review

Overview

The bottom line:

iBusiness Funding is well suited for established businesses with good credit that prefer a streamlined application process.

Loan details

Min. Loan Amount

$25,000

Min. Term Length

6 months

Min. APR

15%

Max Loan Amount

$500,000

Max Term Length

5 years

Max APR

45%

Qualifications

Min. credit score

660

Min. Time in Business

24 months

Min. Annual Revenue

$50,000

Pros & Cons

Pros

Cash can be available within three business days.

Competitive rates for online term loans.

Terms up to seven years.

iBusiness Funding also offers SBA loans up to $5 million.

Cons

Must be in business for a minimum of two years.

Minimum credit score is higher than some other lenders.

Charges an origination fee.

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iBusiness Funding, which acquired Funding Circle in 2024, is an online lender that offers

small-business loans

of up to $500,000. These term loans can be a good option for established business owners that want competitive rates, but also need fast funding.

iBusiness Funding is known for its streamlined application process and multiple loan options. In addition to its business term loan, iBusiness Funding acts as a

lending marketplace

, connecting business owners to other lenders for USDA and SBA 7(a) loans.

This review will focus on iBusiness Funding's term loans.

iBusiness Funding loan qualifications

C redit score : 660 or higher.

Time in business: 24 months

Annual revenue: $50000 or more.

Consider iBusiness Funding if you:

✔️ Are looking to expand your business or refinance costly debt.

✔️ Have good credit and an established business.

✔️ Are looking for fast cash.

Not a fit? Consider these lenders instead.

...

iBusiness Funding business loan details

Loan amount	$25,000 to $500,000.
Estimated APR range	15.22% to 45%.
Fees	Origination fee ranges from 4.49% to 10.49%. Late fee of 5% of missed payment amount.
Terms	6 months to 5 years.
Repayment schedule	Monthly.
Funding speed	As fast as three days. An underwriting decision can be delivered in 24 to 48 hours. Once you sign the loan agreement, you'll typically receive your funds the following business day.

Where iBusiness Funding stands out

Competitive rates compared with other online lenders

iBusiness Funding’s

annual percentage rates

range from 15.22% to 45%. This lender doesn’t charge a prepayment penalty, and paying off your loan early can save interest costs.

Faster processing than banks

It can take just a few minutes to apply online for an iBusiness Funding loan, and you could receive funds within three days. For comparison, it can take weeks to months to be approved for a loan from a bank.

» MORE:

Compare the best fast business loans

Online lender extending SBA loans

Banks and credit unions are the more common sources of an

SBA loan

, but iBusiness Funding is unique in that it’s an alternative lender offering SBA 7(a) loans.

» MORE:

Compare the best SBA lenders

💬 From our Nerds: Consider the rare opportunity to get an SBA loan from an alternative lender

"Getting an SBA loan from an online lender like iBusiness Funding means you can get access to the many benefits of this coveted type of small-business loan but with a lower minimum FICO score than many banks will expect — 640 compared with 690+ — and with a streamlined online application process."

Face, Happy, Head — Karrin Sehmbi, editor & content strategist, Small Business

Where iBusiness Funding falls short

Not for new businesses

iBusiness Funding requires at least 24 months of business history. For comparison, the alternatives we list below, OnDeck and Fora Financial, require only 12 months and 6 months of business history, respectively.

High qualification standards

You’ll need a personal credit score of at least 660 to qualify for a iBusiness Funding loan. Some other online lenders, however, accept scores of 600 or lower.

iBusiness Funding also requires a lien on your business assets, which may include equipment, vehicles or inventory. Like most other business lenders, it also requires a

personal guarantee

from the primary business owners, which gives the lender the right to pursue your personal assets if your business fails to repay the loan.

» MORE:

Best business loans for borrowers with bad credit

Fast, but not the fastest, option

Although you can get a loan from iBusiness Funding in a matter of days, there are other online lenders, like OnDeck and

Bluevine

, with even faster funding times.

Alternatives to iBusiness Funding

OnDeck

OnDeck fast facts

Loan type: Term loan.
Max. loan amount: $250000.
Terms: Up to 24 months.
APR: Starting at 31.3%.
Min. credit score: 625.
Min. time in business: 12 months.

iBusiness Funding vs. OnDeck

OnDeck offers business term loans up to $250,000 with repayment terms up to 24 months. Although interest rates will likely be higher with OnDeck than iBusiness Funding, they have more flexible qualification requirements and faster funding times.

To qualify for a loan with OnDeck, you'll need at least 12 months in business, $100,000 in annual revenue and a credit score of 625.

These requirements may make OnDeck a better option for newer businesses and those with bad credit.

» Read our full

OnDeck review

Fora Financial

Fora Financial fast facts

Loan type: Term loan.
Max. loan amount: $1500000
Terms: Up to 18 months.
APR: Undisclosed; charges a factor rate.
Min. credit score: 570.
Min. time in business: 6 months.

iBusiness Funding vs. Fora Financial

Fora Financial is an online lender that extends term loans of up to $1.5 million with terms up to 18 months. This lender has one of the most accessible credit score minimums for online term loans at 570 and requires only 6 months of time in business. And instead of charging prepayment penalties, Fora offers discounts for paying your loan off early.

Fora uses

factor rates

in place of interest rates, so total APR is likely to be higher than other lenders in this space, plus you’ll make payments daily or weekly, as opposed to the monthly payments that iBusiness requires.

» Read our complete

Fora Financial review

Frequently asked questions

Is iBusiness Funding a legitimate company?

iBusiness Funding acquired Funding Circle in 2024. It has connected approximately 135,000 businesses to over $20 billion in financing since its launch in 2010. Since 2013, the lender has been accredited by the Better Business Bureau, where it has an A+ rating.

Is iBusiness Funding a bank?

iBusiness Funding is not a bank. The company issues term loans using funding from accredited investors. It also offers SBA loans up to $5 million.

Does iBusiness Funding conduct a credit check?

iBusiness Funding typically conducts soft inquiries on loan applicants, which doesn’t impact your credit score. The lender may perform a hard inquiry on general partnership businesses, however. The lender may also check your business credit reports; this will not impact your personal credit.