iBusiness Funding, LLC to acquire Funding Circle USA (FC USA), Inc. and return SBLC license to the SBA
iBusiness Funding, LLC to acquire Funding Circle USA (FC USA), Inc. and return SBLC license to the SBA
06/24/24, 9:10 PM
Location
fort lauderdaledenverIndustry
lending
fintech
finance
financial services
financial services
iBusiness Funding, LLC, a division of Ready Capital Corporation, has entered into a share purchase agreement to acquire Funding Circle USA (FC USA), Inc. The acquisition is contingent on the return of FC USA's Small Business Lending Company (SBLC) license to the SBA. This strategic move aligns with iBusiness' goal of supporting underserved borrowers and allows the combined entity to deliver a best-in-class partner experience by leveraging FC USA's capabilities.
Company Info
Location
Fort Lauderdale, Florida, United States
Company info
iBusiness Funding is a leading provider of lending solutions for banks and lenders of all sizes with a specialization in SBA lending. The company is dedicated to streamlining the business lending process to allow lenders to efficiently deliver capital to small and medium-sized businesses. iBusiness Funding has processed over $7 billion in SBA loans to date, and the team processes over 1,000 business loan applications through its platform daily.