Idea Financial secures $20M EverBank loan
Idea Financial provides credit lines up to $350,000
Idea Financial has secured a $20 million corporate term loan from EverBank to expand its small business and legal lending platforms.
The capital will be used to increase lending capacity, support product development and scale operations as demand rises among established small businesses and plaintiff law firms nationwide. The company has produced more than $1 billion in originations since its founding in 2017, according to a Jan. 8 Idea Financial release.
Idea Financial provides business lines of credit of up to $350,000 and specialized litigation financing through its LevelEsq platform, according to the release.
The Miami-based company also offers term loans that can be used for equipment purchases to small businesses and legal professionals across the United States, according to the company.
EverBank, a nationwide specialty bank, provides asset-backed and lender finance solutions to nonbank lenders, according to the release.
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