Company credits Lending as a Service (LaaS) lender clients
expanding their lending footprint and expanding into smaller dollar
loans as a key contributor to this accomplishment.
FORT
LAUDERDALE, Fla., April 16,
2024 /PRNewswire/ -- iBusiness Funding, a trailblazer
in SBA and business lending solutions, is proud to announce a
record-setting quarter in Q1 2024, with $105
million in SBA 7(a) loans processed through their network of
SBA authorized lenders. This milestone underscores the growing
success of their Lending as a Service (LaaS) offering, powered
through their proprietary LenderAI software. With this
record-setting quarter paving the way, iBusiness Funding is now
processing over $40MM monthly for their clients.
With this record-setting quarter paving the
way, iBusiness Funding is processing over $40MM monthly for their
clients
"We are beyond grateful to all of our bank and financial
institution lending partners who trust us to assist their clients
and process such complex loans on their behalf. This record quarter
is a testament to our commitment to continuous innovation and
making prudent lending efficient and profitable for SBA
lenders," said Justin Levy, CEO of
iBusiness Funding.
In addition to this financial achievement, iBusiness Funding is
proud to highlight its significant role in supporting diverse
businesses. Over 62% of the loans processed were obtained by
women-, minority-, and veteran-owned businesses. This ability to
help these types of businesses, which historically have had
difficulty getting funding, is a core part of their mission to make
financing accessible and equitable for all.
"We are a LenderAI client ourselves, so our success and ability
to scale is intimately tied to the software and its power to
systematize and bring efficiency to our operations. It's the only
lending software we use, and we use it for every aspect of SBA loan
processing, including servicing, so it has to be truly end-to-end.
It has been the secret to our success, and the best part is that
any lender, LSP, or even referral source can buy LenderAI and
distinguish themselves from historically manual processes. We have
seen efficiency gains firsthand for us and our clients, and we can
show clearly that when lenders become more efficient, borrowers
win," added Mr. Levy.
For more information about iBusiness Funding and its innovative
LenderAI software, please visit
http://www.ibusinessfunding.com.
About iBusiness Funding:
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 $6 billion in SBA loans to date,
and the team processes over 1,000 business loan applications
through its platform daily.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ibusiness-funding-breaks-company-record-with-over-100mm-of-sba-7a-loans-processed-and-funded-in-q1-2024-through-lender-network-302117341.html
SOURCE iBusiness Funding