Idea Financial, a leading provider of small business lending solutions, has announced the promotion of Sean Hritz to Vice President of Credit and Risk. In addition, Idea Financial will now offer lines of credit and term loans up to 36 months.
Sean Hritz joined the company in 2018 as Director of Underwriting and, prior to that, held multiple senior underwriting roles in the lending industry. Sean is a proud Miami Hurricane where he graduated with his Master of Business Administration in Finance. In his new role, Sean will continue leading the Underwriting department and will guide the strategy for the company’s product lines. This includes the launch of LevelEsq, a bespoke insurance and lending solution for lawyers working in contingency arrangements.
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“Sean has made many important contributions to the company as Director of Underwriting,” said Justin Leto, Co-Founder and Chief Executive Officer. “From the moment he joined Idea Financial, Sean has made vast improvements to our underwriting processes and has been an integral part of our success. This new role more adequately represents Sean’s value to Idea.”
“Sean’s keen instincts, rich experience and leadership skills play a key role in Idea Financial’s growth and success” added Larry Bassuk, Co-Founder and President. “As we enhance our core Line of Credit product and enter the litigation finance vertical with our LevelEsq brand, Sean’s contributions to Idea Financial underwriting strategies and processes will continue to buttress our exceptional performance.”
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Expansion to 36 months lines of credit and term loans
Idea Financial is the industry leader in providing true revolving lines of credit to small businesses throughout the United States. With term loans and lines of credit now available up to 36 months, Idea Financial continues to expand its services for Main Street USA. With guidance from Sean Hritz and his team, Idea Financial will continue its mission to provide the most flexible options for small business finance.
“Throughout the pandemic, we were able to improve upon our underwriting by expanding our automated systems as well as our human approach,” said Joe Salvatore, Chief Risk Officer of Idea Financial. “We now feel comfortable providing longer terms, which significantly enhance our client’s cash flow.”
Added Carlos Martelo, Senior Vice President of Product and Technology, “With 36-month terms, we strengthen our focus on providing flexible access to working capital. Longer payments terms allow us to offer more financing options to customers, and they help customers manage cash flow with lower loan payments.”
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