iBusiness Funding: A Strong Non-Bank Lender for Established Businesses With Decent Credit

If you’re in search of a business term loan from an online lender, you’ll find other lenders with lower qualification minimums and faster funding times. But if you have your sights set on an SBA 7(a) loan and you don’t have great credit, consider iBusiness Funding.
Rosalie Murphy Karrin Sehmbi

Written by

Karrin Sehmbi , Rosalie Murphy
Karrin Sehmbi ,
Rosalie Murphy
Sally Lauckner

Edited by

Sally Lauckner
Sally Lauckner

Edited by

Sally Lauckner
Last updated on Dec 16, 2025

Fact checked and reviewed

Why trust NerdWallet

Advertiser disclosure

Rosalie Murphy Karrin Sehmbi

Written by

Karrin Sehmbi , Rosalie Murphy
Karrin Sehmbi ,
Rosalie Murphy
Sally Lauckner

Edited by

Sally Lauckner
Sally Lauckner

Edited by

Sally Lauckner
Last updated on Dec 16, 2025

Fact checked and reviewed

Why trust NerdWallet

Advertiser disclosure

iBusiness Funding - Online term loan

Overview

The bottom line:

iBusiness Funding is well suited for established businesses with fair credit that prefer a streamlined application process. And for borrowers seeking an SBA 7(a) loan, iBusiness Funding may prove to be a more accessible lending partner.

Loan details

Min. Loan Amount

$25,000

Min. Term Length

6 months

Min. APR

22.45%

Max Loan Amount

$500,000

Max Term Length

5 years

Max APR

50.24%

Qualifications

Min. credit score

Min. credit score

660

Min. Time in Business

Min. Time in Business

24 months

Min. Annual Revenue

Min. Annual Revenue

$50,000

Pros & Cons

Pros

    pros icon
    Cash can be available within two to four business days.
    pros icon
    Competitive rates for online term loans.
    pros icon
    Low minimum annual revenue requirement.
    pros icon
    iBusiness Funding also offers SBA loans up to $5 million.

Cons

    cons icon
    Must be in business for a minimum of two years.
    cons icon
    Minimum credit score is higher than some other online lenders.
    cons icon
    Charges an origination fee.
iBusiness Funding, which acquired Funding Circle in 2024, is an online lender that offers small-business loans up to $500,000. These term loans can be a good option for established business owners who want competitive rates and 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 focuses on iBusiness Funding's term loans.

How much do you need?

See Your Loan Options

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Consider iBusiness Funding if you:

  • Have fair credit and an established business. This lender has higher minimum requirements in these areas than many other online lenders. iBusiness Funding does, however, ask for only $50,000 in annual revenue to qualify, which is lower than the threshold for some other online lenders.
  • Are looking for fast cash. As long as you submit all the necessary paperwork with your application and no follow-up is needed, you can expect to receive your loan from iBusiness Funding in two to four business days from approval. (Some other lenders can fund even faster than that. Check out our full list of the best fast business loans.)
  • Hope to get an SBA 7(a) loan but don’t meet credit score minimums with banks. SBA lenders often tend to be banks, which typically have pretty strict credit score requirements of 690 or higher. iBusiness Funding requires a score of only 640 to qualify for its SBA 7(a) loan offering.
Not a fit? Consider these lenders instead.

iBusiness Funding business term loan details

Loan amount
$25,000 to $500,000.
Estimated APR range
22.45% to 50.24%.
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
Within two to four business days.

Where iBusiness Funding stands out

Competitive rates compared with other online lenders

iBusiness Funding’s annual percentage rates range from 22.45% to 50.24%. For comparison, online lender OnDeck offers a term loan with APRs ranging from 35% to 99%, and the APRs on Bluevine’s business line of credit fall between 14% and 95%.
Plus, iBusiness Funding doesn’t charge a prepayment penalty, and paying off your loan early can save interest costs.
» MORE: Average business loan interest rates

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 two to four days. That’s much faster than the weeks to months it can take to get approved for a business loan from a bank.

Online lender extending SBA loans

Banks and credit unions are the more common sources of an SBA loan. iBusiness Funding is unique as an alternative lender that offers 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, which is what most banks require to consider you for a business loan. For comparison, online lenders Accion, Altbanq, Backd, Bluevine, Fundbox, Headway Capital and QuickBridge all require 12 months or less in business.

High qualification standards

You’ll need a personal credit score of at least 660 to qualify for a iBusiness Funding loan. More than a dozen other online lenders, however, accept scores between 570 and 625.
» 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 that can issue same-day business loans.

Alternatives to iBusiness Funding

OnDeck
OnDeck - Online term loan

OnDeck

OnDeck - Online term loan

NerdWallet Rating

4.8

Max Loan Amount

$400,000

Read Review
External link icon Apply now

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OnDeck offers business term loans up to $400,000 with repayment terms up to 24 months. Although interest rates will likely be higher with OnDeck than iBusiness Funding, OnDeck has 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.
Fora Financial
Fora Financial - Online term loan

Fora Financial

Fora Financial - Online term loan

NerdWallet Rating

4.7

Max Loan Amount

$1,500,000

Read Review
External link icon Apply now

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Fora Financial is an online lender that extends term loans up to $1,500,000 with terms up to 24 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.

Frequently asked questions

Frequently asked questions

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.
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.
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.

Methodology

NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer small-business friendly features, including: transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to business credit bureaus and responsible lending practices. We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans and our editorial guidelines.