Idea Financial

Read 101 Reviews of Idea Financial to check if it is legit.

Website & Phone: 200 SE 1st Street, #200 Miami 33131 United States
855-900-7838
 http://ideafinancial.com

Frank
4 weeks ago

This company is no different than any of their competitors. Our company took a line of credit to finance production and expansion of product offerings. The offer was only 10% of our gross revenue. After approximately 60 days, we took a position with another lender to pay for a specific expense, unrelated to the purposes we took the Idea LOC for. We also paid the balance of the Idea LOC, improving our cash flow in the process. When we went to access our paid off, but open ended line of credit, we were denied because we stacked a position. Stacking is an ugly word and the concern lenders have of stacking is when a company keeps borrowing high cost advances to fund day to day operations, increasing their operational expenses making the situation untenable.
To be clear, their contract had a clause preventing stacking. To be further clear, our revenue increased 37% in a pandemic and this was quantifiable. Unfortunately, Idea would not allow access to our line of credit. To summarize, they gave a low ball offer initially due to I am sure their risk models being adjusted for the events of 2020, and since that approval, our business grew, we made all our payments on time, improved our cash flow, and bought out a partner. This is not a line a credit and Idea is not a lender interested in fostering relationships with qualified, engaged businesses at a time when small businesses need lenders to work with them as many are failing. they aren't different from the predatory companies in their space that only care about their ROI. If you are thinking of applying here, I strongly advise you to view the relationship exactly as they do- it is transactional. They are not interested in growing your business with you.

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Vanessa
5 months ago

Easy to work with and very professional. They were able to provide what I needed quickly. I'd be happy to do business with them again.

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Darnell
6 months ago

Great company. They are super fast in terms of decision making. Also terms were more then fair. Recommend.

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Valencia
6 months ago

I had a horrible experience with this company. I had secured a line of credit from them for 22K and only used half. When Covid-19 hit in March, I attempted to draw the remainder and they stopped the transaction. An agent later called to question me about the use of funds (as if we were going back into the underwriting process completed 6 weeks earlier). When I told him that I was concerned about the pandemic, he said he would get back to me and never did. Later that day, my online account was locked and they disabled the button that allowed me to draw on the credit line. I never missed a single payment and they denied me access to the funds that were already approved. Horrible Experience!!!

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Ross
7 months ago

Very professional and Friendly Staff. Danielle Worked hard with us to get a deal done.

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Amelia
7 months ago

Very easy to apply and good communication and feedback

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Steve
7 months ago

Easy to apply…
Easy to understand…
Easy to effectuate…

To be continued…..

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Rocky
7 months ago

Very easy to work with. Explained everything as we went through the process.

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Randolph
7 months ago

Very professional and knowledgeble people, smooth and straight on process

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Alexis
7 months ago

Wonderful people and excellent service
Thanks Tiffany

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Sherry
9 months ago

Very clear and quick responses. Very receptive to our needs.

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Peter
9 months ago

Not much help when your clients have 0 income. You must have your interest payments…awesome

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Elena
9 months ago

Excellent service, easy to work with.

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Barbara
9 months ago

ALL OF THE PEOPLE INVOLVED WITH GETTING OUR BUSINESS THIS LINE OF CREDIT WERE GREAT. THEY TOOK THE TIME TO ANSWER ALL OF MY QUESTIONS. EVERYTHING WENT VERY SMOOTH AND ORGANIZED.

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Randall
10 months ago

The team was very communicable and they were flexible with my hectic schedule to get me approved and underwritten. I鈥檇 highly recommend them for other businesses that are looking for funding!

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Kirk
10 months ago

Was very caring and understanding about our current situation

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Andre
10 months ago

Excellent and responsive customer service. Within a day of my request to reduce my payment, as my business is affected by the corona-virus, it was done. I am very grateful for their quick help!

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Hector
10 months ago

Quick and thorough

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April
11 months ago

terrible. approved my draw on my LOC then revoked my draw 2 days later.

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Laura
11 months ago

very good excellent

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Randal
11 months ago

The staff at Idea are so kind and understanding. They really know how to help you get your business on track. I highly recommend this company for a no fuss partner in your business to help you get where you want to go!

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Marsha
11 months ago

My experience with Ideal has been a good one.

The loan process was done in a timely matter the customer service was a pleasure to deal with very professional and made the process very easy.

I just had my renewal done and my contact person Marcos was very responsive and explained any question I had very clearly and made the renewal process as professional as the initial loan process.

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Katrina
11 months ago

MINUS ZERO!!!!!
FRAUD!! LIARS !!! Reported you to BBB

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Duane
11 months ago

Effortless to conclude the transaction

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Brock
11 months ago

It wasn't made clear about the fee charged on withdrawal of funds, but the customer service has been great so far

Is Idea Financial legit or scam? Can I trust Idea Financial?

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