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An excellent finance entity focused on delivering flawless funding services to SMEs: Idea Financial

An excellent finance entity focused on delivering flawless funding services to SMEs: Idea Financial

Businesses need, now more than ever, increased financial agility and control to compete in today’s marketplace.  At Idea Financial the team uses their financing expertise, cutting edge technology, and commitment to superior customer service to develop financial products that give businesses just that, control of their finances. Idea Financial’s primary goal and motivation is to help its customers transform their business ideas into reality. Idea Financial empowers its customers to improve their cash flow, mitigate business risk, and invest with a low cost of capital. The rhino, with his stamina, power and forward-charging momentum, represents the company’s pledge to you. Idea Financial will be untiring and unstoppable in its efforts to advance your business success. Like the endangered rhino, the company believes that it is a part of a very small, dwindling group of finance professionals who are unwaveringly committed to their customers.

As the rhino’s companion, the adventurous oxpecker has wings and the ability to discover new horizons. Idea Financial liken the oxpecker to its clients’ ideas, which if nurtured, can take flight. The two animals enjoy a symbiotic—or mutually beneficial—relationship: the bird draws strength from the rhino and warns of danger, while the rhino gets a head’s up if he needs to charge. This dynamic duo proves the power of two and how mutual trust can yield life-sustaining results.

Small business financing made simple

The Idea Financial Revolving Line of Credit is the most flexible way to fund your business. Your funds are available on demand from Idea Financial’s online customer portal. You can withdraw funds at any time and every draw you make restarts your repayment period. A business line of credit is a form of revolving financing that allows borrowers to withdraw funds up to an agreed-upon credit limit and only pay interest on the amount drawn. It is revolving because you are able to withdraw funds, pay back a portion or all of those funds, and borrow more funds up to your credit limit. Funds are available on-demand and take as little as a few minutes or up to 1-2 business days to reach your bank account. For example, a line of credit for $100,000 could be extended to your company. The business could take the full $100,000, or only take $5,000. They would only be charged interest on the amount they took so they could use their line of credit like a credit card.

Unlike business loans, which provide a fixed lump-sum amount upon opening an account, a business line of credit provides business financing in the form of a credit limit that you can use to withdraw funds up to the maximum amount. If you don’t need the funds today, that’s fine; you can draw funds later on when you need business financing. The mechanics of a business line of credit are like a credit card; however, whereas you use your credit card in exchange for goods and services, you use your business line of credit to withdraw funds that are deposited into your bank account. You can then use these funds as working capital, to invest in your business, or pay expenses right from your business bank account.

When financing is secured, it means that the financing is backed by collateral. For example, commercial mortgages are guaranteed by the offices purchased. In the case of small business financing, collateral can be business assets like inventory, heavy machinery, property, and more. Secured small business lines of credit typically have lower interest rates than their unsecured counterparts. Alternatively, you can use unsecured business finance which is what Idea Financial supplies. Unsecured lines of credit simply mean that there is no collateral guaranteeing the financing. Therefore, the lender needs to be extra sure that the borrower can pay back the credit, which usually results in stricter application requirements and higher interest rates.

Business funding

Idea Financial offers two types of business financing. The first is a small business loan. This is a loan for a set amount of time with a static APR. Businesses can use these loans for most company-related expenses and pay the loan back in regular installments. The second option offered at Idea Financial is a line of credit. This is a set amount of money that can be accessed on-demand via Idea Financial’s online business portal. You can take what you need when you need it and you only pay interest on what you use. Plus, each time you withdraw funds it restarts your repayment period. With these two options, you can streamline your business's cash flow and afford to invest in your company while still managing your monthly expenses.

Meet the leader behind the success of Idea Financial

Justin Leto is the Co-Founder and CEO of Idea Financial. The owner of a boutique law firm and an insurance start-up, Justin knows what it means to be a small business owner.  He understands the needs of small businesses as well as the owners’ aspirations, goals and values. Justin brings his entrepreneurial spirit and drive to Idea Financial, where he sets the vision, mission, and strategy for the organization.  Each day, Justin focuses on what Idea Financial can do to empower small businesses and deliver on Idea Financial’s mission to Charge Your Business Forward. Justin holds a B.S. in Business from the University of Arizona and a law degree from the University Of Miami School Of Law.  When he is not working, Justin enjoys spending time with his wife, children, and two American bulldogs, and rooting for the New York Mets.

“Our primary goal and motivation is to help our customers transform their business ideas into reality. We empower our customers to improve their cash flow, mitigate business risk, and invest with a low cost of capital.”

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