Idea Financial Hits Milestone, Will Still Fund in Texas
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 AltFinanceDaily 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.”
Last modified: July 9, 2025
Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future AltFinanceDaily events here.
