Source: This Week In Fintech - 04/08/2025

Following their acquisition by Ready Capital in 2019, iBusiness have focused on providing B2B and B2C lending solutions. Their flagship products are LenderAI and Lending as a Service (LaaS).
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Today, they announced the launch of Lendsey AI - a platform described as the first agentic AI system specifically for SMB lending. Backed by Ready Capital, a multi-strategy real estate finance company, and its external manager, Waterfall Asset Management, which oversees approximately $13.1 billion in commercial credit assets.

A shift in commercial lending.

In 2015, iBusiness CEO Justin Levy aimed to improve small business financing by tackling outdated, error-prone loan processing methods. These traditional systems are notoriously slow and inefficient, often hindering businesses' access to capital. Levy is pursuing further innovation in commercial lending through the use of AI, supported by $100 million in funding.

New product Lendsey AI is exclusively available as an add-on to iBusiness Funding’s LenderAI - the Loan Origination System (LOS). LenderAI enables financial institutions to use AI in a separate, secure environment. With its own loan processing division, iBusiness Funding processes over $100 million in SBA and conventional loans each month.

iBusiness Funding incorporates proprietary data from its lending operations to inform its AI models, aiming to improve processes for both lenders and borrowers. New product Lendsey AI can subsequently use LenderAI’s suite of tools to act agentically, analysing and taking action based on real in-house data.


The evolving role of AI in fintech.

With the agentic era moving beyond just ‘task and execution’ AI is now capable of achieving complex goals, making influential decisions, and creating original responses.

These developments are influencing how service companies now engage with users, driving expectations for more personalised experiences and operational efficiency. Key lending activities are being quickly influenced by AI including assessing borrowers’ creditworthiness, loan origination, and managing repayment and default risks.
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With AI becoming more accessible and affordable to adopt, businesses no longer are restricted to “out-of-the-box" solutions. Companies are increasingly building tailored models to remain competitive.
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A decade of support.

As an official subsidiary of Ready Capital Corporation since its acquisition in 2019, iBusiness has funded over $7 billion in loans through its platform, LenderAI.

“We have supported Justin and iBusiness Funding for the past decade and have seen the impact of their technology firsthand.” said Tom Capasse, CEO of Ready Capital.

“Their exponential growth and evolution of product offerings without increasing costs are truly impressive, and we are excited to support them as they launch this next chapter in AI. With solutions that have been field-tested on over $11 billion in loans, iBusiness Funding is poised to be the clear leader in the lendtech AI space.”
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As the role of AI in lending rapidly evolves, iBusiness, alongside a $100M commitment, is dedicated to driving innovation in business banking technology. Their mission remains focused on enabling lenders to efficiently deliver capital to small and medium-sized businesses.