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Freedom Mortgage Corporation has announced that it is expanding its services to include business lending to small- and medium-sized businesses nationwide. Freedom Small Business Lending BIDCO Inc., is an authorized Small Business Administration (SBA) lender and offers a unique transaction based model that includes SBA Guaranty on small business loans up to $5MM.
Freedom Small Business Lending, which launched in August of 2015, helps position business owners as a driving force for economic growth by providing a full suite of products and services that can increase sales, save money, and reduce risk. Offering this type of small business lending allows borrowers the credibility of an established financial institution along with the backing of the U.S. government, but with the personalized customer service and flexibility of a small direct lender. The unit closed eight business loans in its first month of operation.
“Homeownership and entrepreneurship are important to our nation’s economy. Freedom Mortgage will now be able to foster the American dream of entrepreneurship through Freedom Small Business Lending,” said Stan Middleman, president and CEO of Freedom Mortgage.
Freedom Small Business Lending also plans to market its SBA loans through a Lender Service Provider agreement to community banks and credit unions all over the country.
“We want to make our products and expertise available to local banks and credit unions that have established relationships with entrepreneurs and business owners in their markets,” Middleman said. “The banks and credit unions gain access to our size and network, while their borrowers obtain the capital they need.”