Related Headlines
| 07/08/2025 | Idea Financial surpasses $1B in funding |
| 04/01/2024 | Idea Financial upsizes warehouse facility |
| 08/12/2021 | Idea Financial promotes Sean Hritz |
| 07/08/2021 | Idea Financial closes on $84M |
| 02/05/2021 | Idea Financial appoints CRO and CFO |
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Justin Leto of Idea Financial on the Red Carpet |
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Idea Financial Closed on Their Inaugural $100M Asset-Backed Securitization
September 30, 2026
Idea Financial just closed its inaugural $100 million securitization. The technology-enabled lender offers term loans and lines of credit to small businesses.
“…it’s a deeply personal moment because reaching this milestone for our company, it’s something that we aspired towards since we started the company,” said Larry Bassuk, co-founder and president of Idea Financial, to deBanked. “To get to this point where we have access to the securitization markets, it means that we’ve taken the company to the next level.”
Founded in 2017, Idea Financial has frequently been featured by deBanked for its accomplishments. A decade ago, asset-backed securitizations in this market were still relatively new. Today, they have become more common, though they remain the domain of the market’s most sophisticated, top-performing lenders. Idea now joins that group.
In the two years leading up to the transaction, the company spoke with numerous institutions about the asset class. “I would say that the majority of them are familiar with the space at this point,” said Idea Financial CFO Santiago Rubio.
Idea did more than $300 million in originations in 2025 and has done more than $1.5 billion since inception. The securitization comprises three classes of notes, with the senior Class A notes rated A+ by KBRA. The transaction includes a three-year revolving period, providing committed, long-term funding to support continued growth.
KeyBanc Capital Markets, led by Andrew Yuder, served as sole placement agent, and the notes were placed privately with institutional investors. Idea credits Yuder with helping bring the transaction together.
“He has been working with us for in excess of two years on this, very patiently,” said Justin Leto, co-founder and CEO of Idea. “We were taking our time to make sure that it was the right moment for us, that the rates were in the position that they needed to be, that the spreads were where they needed to be, and he was with us the entire way. That type of partnership is extremely important to us.”
That emphasis on long-term relationships also shapes the company’s approach to its small business customers.
“[Our customers] have an ongoing relationship with us,” said Bassuk. “We still have customers that we work with who we lent money to the first year of our operations. So our retention rates, the satisfaction of our customers, it is by virtue of the relationship that we form with them, the relationships that they have with individuals who work here at the company, who know them, know their businesses.”
With the securitization complete, Idea now has the capacity to do more.
“Now we have a total of three warehouse facilities plus this ABS issuance,” said Rubio. “They’re all expandable. Like really sky’s the limit when it comes to our core product.”
“There’s no guarantee when you start a company like this that you’ll ever even get here,” said Bassuk. “And for us to get here at this very moment, we’ve celebrated as a moment that Idea Financial is now going into a whole other realm of possibilities.”
“For us, it really just shows that Idea Financial now is a true competitor in this market,” said Leto. “And I think it’s really just the beginning of many other milestones that we will achieve.”
‘Face-to-Face is a Must In This Industry’: How Julian Hernandez of Idea Financial Earned a Trophy Along The Way
November 24, 2025
“Face-to-face interactions are a must in our industry, and not only through conferences but even though we’re based out of Miami, I’m very familiar with the Long Island Railroad,” said Julian Hernandez, Director of Revenue at Idea Financial.
On multiple occasions, Hernandez has gone from New York City to eastern Long Island and then back again to meet with referral partners. It’s part of his job, meeting face-to-face with ISOs, and working with them to maximize the spread of Idea’s business line of credit products. He says through this experience he’s actually become “best buddies” with the LIRR.
“It’s good for morale, it’s good for relationships. It’s good not only for the reps internally on my end, but I’m sure for the reps on [the ISOs’] end to see and put a face to the lender that they’re always working with,” he said.
Hernandez will go wherever it’s necessary. Just last month that initiative placed him on the opposite side of the country, in a room full of ISOs and competitors that had gathered to play poker on the eve of the big B2B Finance Expo at the Wynn in Las Vegas. For Hernandez, who was born and raised in Colombia and only ever plays poker in a casual setting with friends, he had not gone in with any expectation of winning the friendly tournament. He wanted to network.
“That’s probably one of the main reasons why I wanted to join the tournament,” Hernandez said. “It’s just an opportunity for us, for anyone really that goes to the conference, to connect with either people that they know from the industry, or branch out or meet with new faces in an environment that isn’t so corporate.”
As the cards were dealt and the hands played, Hernandez found himself at the final table of the night and walked away with 2nd place overall, a title that garnered him a trophy and a small prize.
While he was happy to earn the rank of #2, it was the social setting of it all that he felt was the best part.
“It’s more of a relaxed environment where people are just having a good time, playing a game, having a drink, and really just getting to know each other on a personal level,” Hernandez said. “That’s the best kind of way to make relationships, right? It’s kind of like when people always say the best kind of business is made on a golf course.”
But in the two days that followed at B2B Finance Expo, Hernandez and the Idea team that was there along with him were in business mode.
“97% of our business is through ISO channels and through all the relationships we’ve established with brokers in our industry, and we’re looking to expand that further,” Hernandez said, noting that there are big growth plans in the works for 2026.
Idea’s line of credit is not like an MCA or the term loans commonly found around the industry. It’s a true revolving line. After every payment made, it replenishes the line. The process to get approved is quick and easy. Hernandez said that some brokers are shocked by how good it is and that larger businesses, ones that tend to be the most rate sensitive, find it very attractive.
When deBanked first covered Idea Financial in 2019, Hernandez had not yet joined the company. He came on board the following year during covid and started in an entry level position. He’s since moved up the ranks and now oversees the entire sales and marketing department, which includes anything from ISO relations to marketing. He cites the team and the structure of how it operates as being the key to success. One of the things he first learned when he started was that Idea Financial was always looking to help businesses one way or another.
“I found my way to Idea Financial and have loved it ever since,” Hernandez said.
And while business and networking are important parts of the job, regardless of where that takes him, he is proud of how well he did in that poker tournament at B2B Finance Expo.
“I was happy with my 2nd place trophy,” Hernandez said. “It’s actually right there,” he exclaimed while pointing at it. “It’s back in my office!”
Idea Financial Hits Milestone, Will Still Fund in Texas
July 9, 2025
Idea Financial, a nationwide small business lender, recently surpassed $1 billion in funding since inception.
“This is a historic milestone,” said Larry Bassuk, president and co-founder of Idea Financial. “Only a few years ago, this company was just a concept with potential. Like many of the small businesses we serve, we started with confidence, grit, and the unyielding belief that we would succeed. Today, I can proudly announce that Idea Financial’s impact on the small business lending community is significant and positive. This moment belongs to our team, past and present, whose dedication has gotten us here.”
Because the company does term loans and lines of credit, it is not impacted by the recently-passed sales-based financing legislation in Texas and will continue to fund there like normal.
For background, Bassuk and Idea Financial CEO Justin Leto, actually started out in the legal profession as attorneys before taking a risk in small business lending. When deBanked first interviewed the duo in 2019, they said, “We’re not from the finance space, we’re not from the alternative lending space either, we came at this opportunity with a different approach.”
At that time, Idea had only funded $50 million since inception. Much of Idea’s growth since then can be attributed to their broker business, which it is still growing.
“Brokers and referral partners are critical to Idea’s success,” the company said. “While our borrowers are our clients, we also consider brokers and referral partners as clients by our team. We value their business and have made it a focus to develop close, mutually beneficial relationships with them.”
“We have been so fortunate to work with such a talented team, all of whom have contributed to the incredible growth of Idea,” said Leto. “We identified a problem with small business funding when we embarked on this journey, and we are so proud to have played a role in providing the solution that has fueled so many Main Street success stories.”
Idea Financial Secures $20 Million Corporate Term Loan from EverBank to Fuel Expansion in Small Business and Legal Lending
January 8, 2025Miami, FL – January 8, 2026 — Idea Financial, a leading provider of flexible financing solutions for small businesses and legal professionals, today announced the successful closing of a $20 million corporate term loan with EverBank. This strategic relationship provides Idea Financial with additional capital to accelerate growth in its core small business lending and legal financing divisions, enabling the company to serve more entrepreneurs and law firms nationwide.
The funding comes at a pivotal time for Idea Financial, which has already surpassed $1 billion in total funding originated since its inception and continues to expand its offerings, including business lines of credit up to $350,000 and specialized litigation financing through its LevelEsq platform. The new term loan will support increased lending capacity, product innovation, and operational scaling to meet rising demand from established small businesses and plaintiff law firms..
“This relationship with EverBank marks an exciting milestone in our journey to empower Main Street businesses and legal professionals with accessible, transparent financing,” said Justin Leto, Co-Founder and CEO of Idea Financial. “EverBank’s confidence in our vision validates our track record of responsible growth and innovation in underserved markets. With this support, we’re poised to help even more businesses charge forward and achieve their goal added, “We’ve built Idea Financial on the principle that small businesses deserve better options than slow traditional banks or expensive alternatives. This $20 million facility strengthens our balance sheet and allows us to expand our impact, particularly in supporting law firms with case financing and small enterprises with working capital. EverBank shares our commitment to performance-driven solutions, making them an ideal partner.”
Larry Bassuk, Co-Founder and President of Idea Financial, added, “We’ve built Idea Financial on the principle that small businesses deserve better options than slow traditional banks or expensive alternatives. This $20 million facility strengthens our balance sheet and allows us to expand our impact, particularly in supporting law firms with case financing and small enterprises with working capital. EverBank shares our commitment to performance-driven solutions, making them an ideal partner.”
Santiago Rubio, Chief Financial Officer of Idea Financial, commented, “This term loan enhances our financial flexibility and positions us for sustainable expansion. EverBank’s expertise in specialty lender finance aligns perfectly with our model, and we’re grateful for their support as we continue to deliver high-value products with competitive rates and fast approvals.”
“EverBank is pleased to support Idea Financial as it continues expansion of its platform and growth of its small business lending loan portfolio. This transaction underscores our focus on providing bespoke lending solutions that meet the distinct needs of our clients. We look forward to continuing to build our strategic relationship with Idea Financial in the future” – Jonathan Lustig, Director – Lender Finance at EverBank.
EverBank, a nationwide specialty bank known for its asset-backed and lender finance solutions, provides tailored financing to non-bank lenders like Idea Financial. This collaboration underscores EverBank’s focus on supporting innovative fintechs that drive economic growth.
For more information about Idea Financial’s business lines of credit, term loans, or legal financing solutions, visit www.ideafinancial.com.
About Idea Financial
Idea Financial is a digital lending platform dedicated to empowering businesses and legal professionals with fast, flexible funding. Founded in 2017 by attorneys-turned-entrepreneurs Justin Leto and Larry Bassuk, the company offers revolving lines of credit, term loans, and litigation financing designed for growth without unnecessary hurdles.
About EverBank – EverBank, N.A.
(EverBank) is a nationwide specialty bank providing high-value products and services to consumer and commercial clients coast-to-coast. As a pioneer in online banking, we offer convenient digital access for clients 24/7, in addition to phone banking services and a network of financial centers across California, Florida and New York. EverBank’s commitment is to deliver to our clients high-performing, high-yield solutions backed by exceptional service, always giving them the advantage they expect, to make the most of their money. Visit everbank.com or connect and interact with us on Facebook, Instagram, LinkedIn or X. EverBank is a Member FDIC.
Media Contact
Alondra Peña
Senior Marketing Manager
marketing@ideafinancial.com
Idea Financial Secures $50 Million Warehouse Facility to Expand Small Business Lending
October 1, 2024Miami, FL – Idea Financial, the leading provider of small business lines of credit, today announced the successful closing of a new $50 million warehouse facility led by Performance Trust Capital Partners. This strategic move significantly enhances Idea Financials’ lending capacity and allows the company to increase its maximum loan limit to $350,000 for well-established small businesses.
The new facility was made possible due to Performance Trust’s relationships with community banks and strengthens Idea Financial’s position in offering competitive and flexible financial products to Main Street businesses across the United States.
“Performance Trust has opened up an entirely new market for Idea Financial through their deep relationships with smaller community banks,” said Larry Bassuk, Idea Financial’s President and co-founder. “With this additional capital, we will continue our mission to be a premier provider of lines of credit for small businesses.”
Justin Leto, Idea Financial’s CEO and co-founder, added, “As the economy shows tremendous resilience and continues to grow, Idea Financial, along with Performance Trust, will be well-positioned to fuel that growth.”
Prior to this partnership, Idea Financial provided lines of credit up to $250,000. The increase to $350,000 allows the company to better serve the needs of growing small businesses requiring larger capital infusions.
Performance Trust Capital Partners, a full-service investment bank focused on community depository institutions, facilitated this deal by leveraging its relationships with community banks and aggregating the capital necessary to provide this substantial warehouse facility – a task typically requiring significant capital from super-regional or national banks.
This partnership marks a significant milestone in Idea Financial’s growth trajectory and reinforces its commitment to supporting small businesses across the nation.
About Idea Financial
Idea Financial is the leading non-bank provider of small business lines of credit in the United States. The company offers financial solutions to high-quality, established businesses needing funds to drive growth. To date, Idea Financial has funded thousands of American small businesses with hundreds of millions of dollars in loans, helping businesses #ChargeForward. For more information, visit ideafinancial.com.
About Performance Trust Capital Partners
Performance Trust Capital Partners is a full-service investment bank focused on community depository institutions. Their innovative approach enables syndication opportunities among community bank partners, allowing for the creation of significant facilities to support small business lenders. For more information, visit performancetrust.com.
For more information, please visit www.ideafinancial.com or contact Idea Financial at marketing@ideafinancial.com
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Idea Financial Upsizes its Credit Facility to $112M
February 23, 2023
In just eighteen months since Idea Financial closed on an $84M warehouse facility with the Specialty Finance Division of Synovus Bank and Hudson Cove Capital Management, the company has gotten it upsized to $112M and the term extended by another 3 years. Idea Financial provides small businesses with lines of credit while its sister company LevelEsq finances the cost of lawsuits mostly undertaken by lawyers that work on contingency.
Co-founders Larry Bassuk and Justin Leto say that the upsizing news is “a testament to our discipline and our focus on risk management.”
The company has around 50 employees, less than what might be expected, but Bassuk and Leto say that technology has helped make tremendous efficiency possible while emphasizing that they have a human underwriting team that reviews every single loan before it goes out.
Jayan Krishnan, Managing Director of Synovus Bank, said that they were “very happy to provide them with the growth capital they need.” Synovus is the senior debt in the arrangement. Krishnan said that they love to work with companies that are thoughtful, mindful, and conservative and that Idea fit that criteria.
Fred Wang, a Co-Founder and Partner at Hudson Cove, said his firm is pretty selective on mezzanine within the small business lending asset class but that Idea’s performance has been very strong and consistent. “We’ve gotten a very good feel for them as a management team,” Wang said.
Both Synovus and Hudson Cove are well-versed in the commercial finance space.
“We’re obviously growing and they’re happing to be growing with us,” said the two founders of Idea Financial. “We run our company risk management first and sales second.”
Idea Financial’s Co-Founders Weigh In On Their New $84M Credit Facility and Future
July 9, 2021Miami-based Idea Financial closed on an $84 million warehouse facility with the Specialty Finance Division of Synovus Bank and Hudson Cove Capital Management. Co-founders Larry Bassuk and Justin Leto said the funds are going right toward financing their pandemic proof SMB line of credit product and supporting their one-of-a-kind litigation insurance and plaintiff-lawyer financing.
“We’re still firing on all cylinders with our flagship line of credit products with small businesses, and Synovus and Hudson Cove are going to allow us to use these facilities to finance the litigation cost finance product,” Leto, who serves as the CEO, said.
The two former lawyers will draw from their experience in insurance, their legal backgrounds, and SMB underwriting to create a product that serves contingency lawyers called Level Esq. Often overlooked, the founders said law firms are just like other small businesses.
“Not only our experience as lawyers but also our experience as fintech lenders; we’re bringing all that expertise to bear here, and this is the culmination of our experience in finance, law, and insurance,” Bassuk, president of Idea Financial said. “Not only is our product going to be revolutionary and the best in market, but the customer experience is going to mirror the experience that our small business customers have.”
They focus on contingency firms — cash-dependent practices where lawyers invest their own money to back plaintiffs in injury and compensation cases. If there is no victory, there is no payout, so their other company, Level Insurance, offered protection for lawyers left holding the bag in the case of failure.
“Larry and I invented a first and only-of-its-kind insurance product that allows plaintiffs lawyers to protect all of their cost investment for their case,” Leto said.
The new brand coming soon, Level Esq., will offer a loan upfront to finance cases, while Level Insurance has lawyers’ backs with insurance if cases fall through.
“We’re providing an actual line of credit, loans, or small business loans for the lawyers themselves, so they finance their case costs. It’s a pretty revolutionary product and we’re doing it the way we financed small businesses,” Leto said. “Lawyers will be able to tap into that fintech side of our business. If it currently takes weeks if not months to get this type of financing, you’ll be able to do it in hours or days.”
In general, Bassuk said the warehouse closing is a sign that the hard work during the pandemic paid off, and Georgia-based Synovus Bank and Jersey-based Hudson Cove noticed.
“Over the last year, 18-months-plus since the beginning of Covid: our underwriting methodologies, our risk management, management strategies, and our operations were validated,” Bassuk said. “And I think that’s also something that Synovus and Hudson Cove noticed is that our business model, our portfolio performed exceptionally well under stress and during Covid, and I think that’s another contributing factor that led us to where we are.”
Leto and Bassuk recently starred in a deBanked TV docuseries about doing business in Miami.
Idea Financial Chimes In On New Hire
February 17, 2020
Last week Idea Financial announced that it had appointed Gregory Sandler as its Chief Operating Officer and General Counsel. Having served as General Counsel to both Beyond Finance and Spruce Finance after working as VP and Corporate Counsel to Bayview Asset Management, Sandler believes he’s well positioned to help Idea.
“I have a sense of gratitude to them, because I feel like I’m piggybacking on a lot of the hard work they’ve already done over the last three years,” Sandler told deBanked in a phone call. “But part of the reason for bringing me on I think is that as we move from a startup to a more mature company certain skill sets are needed, and they put the trust in me that I have the skill set that can help them get to that next level.”
Before providing counsel to alternative finance companies, Sandler served as an Associate Director at Bear Stearns in the mids-2000s.
“We’re about to cross into our one hundred million dollars in funding threshold, which is a big deal, very soon,” Justin Leto, CEO of Idea, explained over the phone. “That’s a major accomplishment, and it just shows that we’re in a position right now where bringing on the strongest and the brightest people is exactly what we need. And I think Greg is a symbol of what this company has become and what it will continue to be.”
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See Post... idea financial. ondeck also offers one, and there's fundbox, but we've heard their options tend to be lower than competitors., , there's also asset-based credit lines that tie into factoring, there's a num... |
