SMALL BUSINESS LOANS REVIEWS
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iBusiness Funding Small Business Loans: 2025 Review

Written by
Allison Martin
Edited by
Rob Watts

Updated Feb 06, 2025

At a glance

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4.5
Bankrate Score
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Accessibility
Affordability
Customer experience
Transparency
Flexibility
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Overview

iBusiness Funding offers business term loans, SBA 7(a) loans and USDA loans. Its streamlined application process and potentially low interest rates make it a good fit for established businesses with a solid credit history.

Lender Details

  • Money Bag Icon

    Loan amount

    $10,00-$25 million

  • Rates Icon

    Interest rate

    7.49%

  • Clock Wait Icon

    Term lengths

    6 months-30 years

  • Dollar Icon

    Min. annual revenue

    $50,000

  • Briefcase Icon

    Min. time in business

    24 months

Who iBusiness Funding is best for

Established small business owners with good or excellent credit may get the best value from iBusiness Funding’s streamlined application process, potentially low rates and minimal fees. Borrowers can also choose a term of up to seven years on business term loans, compared to the maximum repayment period of five years offered by many lenders. This is beneficial to small business owners who seek an extended loan term to help make monthly loan payments more affordable and easier to manage.

Who iBusiness Funding may not be best for

iBusiness Funding's eligibility requirements put its loans out of reach for startups and business owners with bad credit. It’s also not a good fit for business owners who want fast funding within 24 hours. iBusiness Funding states that it funds loans within a few weeks to a few months, a slow but usual timeline for SBA and USDA loans.

iBusiness Funding: in the details

Loan amount
$10,00-$25 million
Interest rate
7.49%
Term lengths
6 months-30 years
Fastest funding
2 business days
Min. annual revenue
$50,000
Min. time in business
24 months
Personal credit score
640

iBusiness Funding pros and cons

Pros

  • Checkmark Icon

    Lower rates than many online lenders

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    Online preapproval

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    Minimal fees

Cons

  • No unsecured loans

  • Rates for some loans not disclosed online

  • Few loan options

  • Strict eligibility requirements

Business loan types offered

Loan quick facts

  • Amounts: $25,000 to $500,000
  • Terms: 6 months to 7 years
  • Interest rates: From 7.49%

iBusiness Funding business term loan overview

The business term loan is designed for companies with a credit score of 640 or higher. This is higher than many online lenders who may offer loans to small business owners with a minimum credit score of 600 or lower. 

iBusiness Funding doesn’t disclose its rates on its website, but in a document shared with Bankrate, the lender stated its interest rates start at 7.49 percent. The low end of that range is fairly competitive and may rival even the low rates found with banks and traditional lenders.

There are no prepayment penalties, and borrowers won’t have to deal with application fees. However, you may have to provide collateral or a personal guarantee.

Loan quick facts

  • Amounts: $10,000 to $5 million
  • Terms: Up to 25 years
  • Interest rates: As low as 10.25% (Prime + 2.75%)

iBusiness Funding SBA 7(a) loan overview

Backed by the Small Business Administration (SBA), these loans can cover unexpected expenses, stabilize cash flow, refinance business debt, upgrade your company’s space or expand operations. 

SBA loans typically have extensive documentation requirements along with slower approval and funding times. But iBusiness Funding coordinates with a network of SBA lenders to help streamline the process. 

You can choose between an SBA Small Loan, which is used for “emerging businesses” needing government funding, or a Standard 7(a) loan with loan amounts for established businesses that need at least $500,001 in funding.

Loan quick facts

  • Amounts: Up to $25 million
  • Terms: Up to 30 years
  • Interest rates: Not stated

iBusiness Funding USDA loan overview 

Most online lenders don’t offer USDA loans in their product lineup, but iBusiness Funding does. You can get this loan backed by the U.S. Department of Agriculture to use for developing your business in a rural area. These loans are designed to be used for acquiring a business in a rural location, business expansion, the purchase of real estate or equipment or debt refinancing.

Do you qualify? 

iBusiness Funding states its average borrower has good or excellent credit, has been in business for 11 years with $1.4 million in annual sales and has 12 employees. And considering the minimum personal credit score is 640, it’s not a good fit for someone looking for bad credit business loans. 

That said, you may still be eligible for a loan even if you don’t have this sort of business profile. Here are the general guidelines to be aware of: 

  • FICO score of 640
  • At least 2 years in business
  • No personal bankruptcies within seven years 
  • Operate in an industry not related to gambling, speculative real estate, pornography, weapons, or manufacturing 
  • Not operate a marijuana dispensary or non-profit organization

What we like and what we don’t like

iBusiness Funding features business loans with competitive rates and generous terms to established companies.

What we like

  • Lower rates than many online lenders. iBusiness Funding business loans come with competitive rates as low as 7.49 percent for term loans and 10.25 percent for SBA loans. Online competitors may start their interest rates in the double digits, such as a 30 percent APR.
  • Streamlined application. iBusiness Funding has one quick online application to see which loans you qualify for. It conducts a soft credit pull when you apply, so your credit score won’t be impacted. 
  • Minimal fees. iBusiness Funding doesn’t charge upfront application fees or prepayment penalties found with other loans.

What we don't like 

  • Strict eligibility requirements. iBusiness Funding has a minimum required credit score of 640 and two years in business, and its average borrower has typically been in business for 11 years and has annual sales of $1.4 million.
  • Few loan options. iBusiness Funding specializes in government-backed loans and term loans, but doesn’t offer other common loans like lines of credit that you’d find with most online lenders.
  • No unsecured loans. Borrowers will need to tie assets to the loan, which will act as security. You’ll have to look elsewhere for unsecured loan options.
  • Interest rates not disclosed online. iBusiness Funding does not list rates for its term loans on its website, so borrowers aren’t able to quickly compare with other lenders.

How iBusiness Funding compares to other lenders

iBusiness Funding works well for established business owners looking for long-term loans, offering loans up to seven to 30 years depending on which loan you choose. It doesn’t offer the fast funding timelines you’ll find with other online lenders, but you can access larger loan amounts at competitive rates. 

If you have a lower credit score, iBusiness Funding likely isn’t the best fit for you. While some lenders accept borrowers with scores as low as 500, iBusiness Funding sets its minimum credit score at 640. 

4.5

Bankrate Score

  • Loan amount

    $10,00-$25 million

  • Interest rate

    7.49%

  • Term lengths

    6 months-30 years

  • Min. time in business

    24 months

  • Min. business annual revenue

    $50,000

4.7

Bankrate Score

  • Loan amount

    $5,000-$10 million

  • Interest rate

    0.75% Monthly rate | 5.00% to 18% Simple interest

  • Term lengths

    1-10 years

  • Min. time in business

    6 months

  • Min. business annual revenue

    $100,000

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on Bankrate

4.2

Bankrate Score

  • Loan amount

    $5,000-$15 million

  • Interest rate

    8.00%-17.25% APR

  • Term lengths

    Up to 25 years

  • Min. time in business

    Less than two years

  • Min. business annual revenue

    Not stated

Read our review

on Bankrate

iBusiness Funding vs. Fundible

Fundible is an online lending marketplace that makes commercial financing more accessible to small business owners. Unlike iBusiness Funding, its eligibility guidelines are relatively lax. According to a Fundible spokesperson, you need a FICO score of just 450, six months in business and $100,000 in annual revenue, depending on which loan you’re applying for. 

You can also choose from far more funding options compared to iBusiness Funding. Fundible offers business term loans, lines of credit, SBA loans, equipment financing, bridge loans and invoice factoring. If approved for financing, you could get funds in as soon as 24 hours, which is faster than waiting several weeks to get funding with iBusiness Funding small business loans. 

iBusiness Funding vs. Wells Fargo

Wells Fargo is ideal for established business owners with solid credit ratings who want a traditional lender. Its commercial financial offerings are limited to business lines of credit and SBA loans. There are three lines of credit to choose from, and two of them come with an annual fee. The upside is unsecured options are available, and you can earn rewards through its line of credit rewards program. 

Both lenders feature SBA 7(a) loans on their lending arsenal. Wells Fargo also offers 504 loans, which are a long-term financing solution for business owners looking to expand operations through commercial construction, property and land acquisition or equipment purchases.

You might choose iBusiness Funding for its more lenient credit requirements, or you can go with Wells Fargo for a traditional lending experience. You may be eligible for financing with iBusiness Funding even with a fair credit score of 640, while Wells Fargo typically requires strong credit such as a credit score of 680.

How to apply for a loan with iBusiness Funding 

iBusiness Funding makes it easy to view loan offers and receive financing. First, you’ll visit the website and submit an online application. It’s fast and doesn’t impact your credit score. 

If you meet the lender's loan eligibility requirements, an account manager will reach out to answer any questions you may have about the loan offer. You’ll also need to submit the required documentation to the account manager to proceed with the lending process. The entire loan approval could take a few weeks to a few months, with government-backed loans taking longer to process.

Before applying, make sure to have the following material on hand:

  • Business tax ID
  • Name of owners or shareholders with a stake of 20 percent or more
  • 6 most recent months of bank statements 
  • 2 years of business tax returns
  • 1 year of personal tax returns for owners with 20% or more ownership
  • Current profit and loss statements and balance sheet if current year tax returns are unfiled (SBA 7(a) loans only)
  • Schedule of business debts (SBA 7(a) loans only)

iBusiness Funding frequently asked questions

How Bankrate rates iBusiness Funding

Overall Score 4.5
Accessibility 4.6 Loans are open to some people with fair credit, and funding times could be relatively quick.
Affordability 3.8 There’s a potential for high interest rates and origination fees.
Transparency 5.0 iBusiness Funding provides a wealth of details on its website, including fees it charges and a profile of its typical borrower.
Customer experience 4.7 iBusiness Funding offers a streamlined application process and a healthy amount of support options for clients.
Flexibility 4.6 This lender has multiple loan options and the chance to take out an additional loan after six consecutive on-time payments.

Methodology

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47
years in business
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30+
lenders reviewed
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22
loan features weighed
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770+
data points collected

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

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