iBusiness Funding, a provider of lending solutions like LenderAI and Lending-as-a-Service (LaaS), acquired select non-SBA assets and talent from Fountainhead SBF.
“We are thrilled to welcome the Fountainhead team to iBusiness Funding,” Justin Levy, CEO at iBusiness Funding, said. “Their expertise, combined with our robust LaaS product, will enable us to provide more diversified and sophisticated lending solutions to our clients. This acquisition aligns perfectly with our growth strategy and our commitment to delivering exceptional service to our clients.”
As a result of the acquisition, iBusiness Funding plans to leverage the acquired team’s expertise to continue growing its LaaS business and expand into new areas including general partner lending, construction loans and multi-draw lending. This acquisition will also enable iBusiness Funding to relaunch its SBA micro and express loan programs supported by its proprietary SBx approval model.
“We’re excited about the opportunities this acquisition brings to our clients and our team,” Levy said. “With the combined expertise of our teams and the expanded product offerings, we’re poised to help more businesses grow and succeed.”
iBusiness Funding is a wholly-owned subsidiary of Ready Capital.
