Funding Circle's former US operation was acquired by iBusiness Funding in 2024.
iBusiness Funding at a glance
The old Funding Circle US review now points to iBusiness Funding, which acquired the US business in 2024. Current borrowers should identify the exact iBusiness or partner program rather than relying on old Funding Circle terms. The advertised maximum is not a promise of approval. A final offer can be smaller and can use a different payment structure after the provider reviews revenue, credit, industry, state and recent bank activity.
What works
- Documented successor to Funding Circle USA
- SBA-focused technology and partner channels
- Government-backed routes are available
- Large lending-platform experience
What needs a closer look
- This is no longer the old Funding Circle US business
- Stronger files may be needed than for short-term online products
- SBA and USDA timelines differ from direct term lending
- Confirm the named lender on the final documents
Published starting profile
Time in businessProduct dependent
Business revenueProduct dependent
Credit profileProduct dependent
ApprovalSubject to underwriting and a final agreement
What the financing actually looks like
iBusiness Funding is a Ready Capital division and lending-technology provider. It acquired Funding Circle's US business in 2024.
Current price and term depend on the named iBusiness, SBA or partner program. Old Funding Circle US figures should not be reused as a current quote.
Direct term, SBA and USDA-backed products follow different schedules and underwriting paths.
Government-backed loans can require owner guarantees and collateral under program and lender rules. Direct agreements control other liens.
Program reach depends on eligible lender channels, location, citizenship rules and use of funds.
The borrower should identify the exact program and legal lender before relying on an amount or timeline.
The ownership change is the main fact
Ready Capital's iBusiness Funding agreed to acquire Funding Circle's US operation in 2024. Funding Circle also returned its newly acquired Small Business Lending Company license to the SBA. A review that ignores those changes risks sending a borrower toward a product structure that no longer exists under the old brand.
iBusiness works through large channels
Recent iBusiness announcements describe SBA access through partners such as BizBuySell and Intuit's QuickBooks platform. That distribution model matters. The front door can be a partner interface, while the lender and program rules sit behind it. Save the final lender name and program type before comparing the offer with a bank quote.
SBA speed should be described carefully
A digital intake can shorten document collection without turning an SBA loan into a same-day advance. Eligibility, ownership, cash-flow and guarantee checks still apply. Borrowers who need money this week should keep a separate short-term option open rather than assuming a polished application screen removes federal program steps.
Who should keep it on the shortlist?
An established borrower entering through an iBusiness partner and willing to complete program-specific underwriting.
Someone expecting the former Funding Circle US application, limits or underwriting model to remain unchanged. That second group should compare a bank, credit union or government-backed route before paying for a shorter online process.
Our view
This is a transition review, not a refreshed Funding Circle scorecard. The current business is iBusiness Funding, and every old Funding Circle number needs a new source before use. No published threshold can predict an individual approval, and no company maximum should set the size of the request.
How to read the offer
Ask for the cash delivered after withheld fees, total dollars repaid, number of payments and payment frequency. Then read the personal guarantee, UCC filing, collateral, default and early-payment sections. If the offer uses a factor, calculate an estimated annualized cost for comparison without pretending that estimate changes the contract into a loan.
Model the payment against the weakest recent revenue month. Leave payroll, sales tax, suppliers and existing debt in the bank forecast. A fast approval can still be the wrong product when automatic withdrawals create another gap before the financed project returns cash.
Primary sources checked
Ready Capital acquisition announcement ↗Funding Circle transaction announcement ↗iBusiness Funding announcements ↗
Accessed July 16 and 17, 2026. Company pages can change after publication.