From Pulse 2.0 · Amit Chowdhry · · 50s
MidOcean Partners And Idea Financial Form $225M Joint Venture
MidOcean Partners and Idea Financial launch $225 million joint venture to fund larger small business loans.
In brief
MidOcean Partners and Idea Financial launch $225 million joint venture to fund larger small business loans. MidOcean Partners and Idea Financial create joint venture providing up to $225 million for small business loans of up to $1 million. Originally reported by Pulse 2.0.
Joint Venture Announcement
MidOcean Partners and Idea Financial form joint venture to provide up to $225 million for small business loans of up to $1 million.
Expanding Loan Offerings
The partnership expands Idea Financial’s credit lines beyond $350,000 to address demand for larger financing options from established small businesses.
Idea Financial Background
Founded in 2017, Idea Financial provides credit to 10,000+ small businesses across 47 states with $1.5 billion in financing since inception.
New Venture Goals
The joint venture gives Idea Financial dedicated capital to increase loan sizes and expand origination among existing and prospective customers.
The big picture
MidOcean Partners and Idea Financial create joint venture providing up to $225 million for small business loans of up to $1 million.
