Idea Financial, a provider of small business lending solutions, promoted Sean Hritz to vice president of credit and risk. In addition, Idea Financial will now offer lines of credit and term loans of up to 36 months.
Hritz joined the company in 2018 as director of underwriting and, prior to that, held multiple senior underwriting roles in the lending industry. In his new role, Hritz will continue leading the underwriting department and will guide the strategy for Idea Financial’s product lines, including the launch of LevelEsq, a bespoke insurance and lending solution for lawyers working in contingency arrangements.
“Sean has made many important contributions to the company as director of underwriting,” Justin Leto, co-founder and CEO of Idea Financial, said. “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” Larry Bassuk, co-founder and president of Idea Financial, said. “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.”
Idea Financial is a provider of revolving lines of credit to small businesses throughout the United States. With term loans and lines of credit now available for up to 36 months, Idea Financial will expand its services.
“Throughout the pandemic, we were able to improve upon our underwriting by expanding our automated systems as well as our human approach,” Joe Salvatore, chief risk officer of Idea Financial, said. “We now feel comfortable providing longer terms, which significantly enhance our client’s cash flow.”
“With 36-month terms, we strengthen our focus on providing flexible access to working capital,” Carlos Martelo, senior vice president of product and technology at Idea Financial, said. “Longer payments terms allow us to offer more financing options to customers and they help customers manage cash flow with lower loan payments.”
