FORT
LAUDERDALE, Fla. , May 26, 2023
/PRNewswire/ -- iBusiness Funding, LLC, a leading provider of
innovative lending solutions like LenderAI and Lending as a Service
(LaaS), today announced a correction to the 4th
paragraph of its press release sent out on May 18, 2023.
In the original version of the release, the 4th
paragraph read:
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 their proprietary SBx
approval model, providing small businesses with more accessible and
flexible loan options.
It is corrected to read as follows:
As a result of the
acquisition, iBusiness Funding plans to leverage the acquired
team's expertise to continue growing its LaaS business and support
its direct SBA lender clients in new areas like general partner
lending, construction loans, and multi-draw lending. This
acquisition will also enable iBusiness Funding to relaunch its
services providing support to lenders for their SBA micro and
express loan programs. iBusiness Funding has a proprietary SBx
approval model, that can be leveraged by lenders, providing small
businesses with more accessible and flexible loan options.
iBusiness Funding looks to continue to grow as a technology and
lending service provider to its direct lender clients.
iBusiness Funding is a wholly owned subsidiary of Ready Capital
(NYSE:RC)
About iBusiness Funding, LLC
iBusiness Funding is a leading provider of lending solutions for
banks and lenders of all sizes with a specialization in SBA
lending. The company offers a range of products and services
designed with a core mission to streamline the business lending
process to get efficient capital into the hands of small and
medium-sized businesses. iBusiness Funding originates and services
loans from $5,000 up to $5,000,000 and sees over 1,000 business loan
applications through its platform daily. For more information,
visit www.ibusinessfunding.com.
About Ready Capital Corporation
Ready Capital Corporation (NYSE: RC) is a multi-strategy
real estate finance company that originates, acquires, finances and
services small to medium balance commercial loans. Ready Capital
specializes in loans backed by commercial real estate, including
agency multifamily, investor and bridge as well as SBA 7(a)
business loans. Headquartered in New York, New York, Ready Capital employs over 600
professionals nationwide. The company is externally managed and
advised by Waterfall Asset Management, LLC.
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SOURCE iBusiness Funding