Idea Financial Closes $ 84 Million Warehouse with Specialized Finance Division of Synovus Bank and Hudson Cove

0

MIAMI, July 7, 2021 / PRNewswire / – Idea Financial, a leader in the small business lines of credit industry, has successfully closed a new warehouse with Synovus Bank Specialty Finance and Hudson Cove Capital Management. The commitment of Synovus and Hudson Creek increases Idea Financial’s ability to extend competitive and flexible financial products to Main Street. In addition, Idea Financial will expand into the underserved legal finance market by offering filing fee financing solutions to claimant lawyers and law firms.

“We are grateful to Synovus and Hudson Creek for their partnership and for providing Idea with the capital committed to continue providing Main Street America with the necessary funding during this post-Covid recovery, ”said Justin leto, CEO and co-founder of Idea Financial. Larry Bassuk, President and Co-Founder of Idea Financial, added: “In addition to providing capital for our core small business lending business, this new warehouse allows us to extend significant liquidity to lawyers and law firms. applicants who incur significant business-related expenses. “

Leto and Bassuk are both Florida licensed trial lawyers and have previously developed a specialized insurance program, Level Insurance, which offers law firms protection against the recovery of filing fees. Through this warehouse, they will be able to extend Idea Financial to the financing of attorney fees and complement this strategy by also marketing valuable insurance coverage to law firm clients.

“We are very happy to work with the Idea Financial team as the platform, the people and the approach to lending are all exceptional. In particular, we attach great importance to the company’s strategy of working with its customers during the most difficult times. of 2020 “, said Jayan krishnan, Managing Director of the Structured Loans Division of Banque Synovus.

“We are delighted to partner with Idea Financial as they continue to deliver innovative financial solutions for small businesses, which is of paramount importance as we move into this post-Covid recovery,” said Fred wang, partner and portfolio manager at Hudson Cove Capital Management.

Financial idea is a small business solutions provider, offering a single line of credit as well as term loans to small businesses. IDF provides up to $ 250,000 in funds with same day approval and funding. In addition, IDF is expanding its product line to include loans for exclusive fees for lawyers as well as insurance products for small businesses. IDF has funded thousands of small businesses in America and is proud to help #ChargeForward businesses.

Synovus Bank, a Georgia-chartered bank, insured by the FDIC, provides commercial and retail banking services and a full range of specialized products and services, including private banking, cash management, wealth management, mortgage services, financing premium, asset-based loans, structured loans and international banking services through 285 branches in Georgia, Alabama, Caroline from the south, Florida, and Tennessee. The synovium is a Great Place to Work certified company and is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. Equal housing lender.

Hudson Cove Capital Management is an SEC-registered minority-owned asset manager that invests in New Jersey-based liquid structured credit and asset-based lending strategies. Since its inception in 2009, Hudson Cove Capital has generated and invested capital in asset lending transactions to borrowers specializing in financing in a wide range of industries.

CONTACT: Salina Erazo, Marketing Director, 805.300.9109, [email protected]

SOURCE Financial Idea

Related links

https://www.ideafinancial.com



Source link

Share.

Comments are closed.