FOUNDATIONAL
CEO
HQ: Boca Raton, FL
561-997-8626 • crossroadsfinancial.com
Crossroads Financial has been the quintessential innovator among lenders that provide inventory-only lines of credit of between $1 million and $10 million for nearly two decades.
To Crossroads Financial, innovation means continuing to find new ways to make inventory lending available to new industries and niches.
Nearly two decades ago, after 23 years in the factoring industry, Lee Haskin, CEO of Crossroads Financial, decided to build upon the simple idea of creating funding partnerships with factoring companies and asset-based lenders to provide additional inventory revolving lines to their client offerings, enabling them to offer more solutions to their borrowers. By providing these inventory lines in conjunction with accounts receivable factoring facilities and helping to introduce the intercreditor agreements that facilitate them, Crossroads Financial has been creating new opportunities for lenders looking to put on transactions they historically couldn’t approach. Through this innovation, Haskin and Crossroads Financial formed a market the company now dominates.
Crossroads Financial has continued to innovate during the COVID-19 pandemic, as the company expanded its presence by bringing its much-needed inventory lines of credit to the fast growing niche of e-commerce businesses while continuing to support brick and mortar stores. In addition, the company maintains its place as an innovator by continuing to offer experienced servicing, underwriting and back-office support to factoring companies, asset-based lenders and institutional lenders who want to be in the inventory lending space but lack the back office to support the venture into this arena.
“Our continued growth is a testament to our ability to define and dominate this market that we created,” Haskin says. “We will continue to bring fresh ideas and solutions to borrowers and lenders alike.”
