Freedom Mortgage Press Releases
Freedom Mortgage Corporation Announces New Small Business Lending Subsidiary BIDCO, Inc.
New SBA lending unit created to help entrepreneurs realize their American dreams
Mount Laurel, NJ - February 16, 2016 - Freedom Mortgage Corporation, a privately held, full-service mortgage lender licensed in all 50 states, 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 added. "The banks and credit unions gain access to our size and network, while their borrowers obtain the capital they need."
To learn more about Freedom Small Business Lending BIDCO, Inc. call toll free (844)508-8488 to speak to Robert Dwyer, executive vice president of Freedom Small Business Lending, or visit www.FreedomSmallBiz.com.
About Freedom Mortgage
Freedom Small Business Lending BIDCO is a subsidiary of Freedom Mortgage Corporation. Freedom Mortgage is a national, full-service mortgage banker that provides origination and servicing through retail, wholesale, correspondent and commercial divisions. The company is licensed in all 50 states, Washington DC and Puerto Rico. Freedom Mortgage maintains an "A+ rating" with the Better Business Bureau and is known for using the most advanced technologies and providing world-class service to its clients, borrowers and partners. The company was founded in 1990 and is headquartered in Mount Laurel, New Jersey. For more information, please visit www.FreedomMortgage.com.
Freedom Mortgage Corporation is a privately held company. This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits to consumers from using Freedom Mortgage Corporation's services. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of risks and uncertainties. Any forward-looking statements in this release are based on limited information currently available to Freedom Mortgage Corporation, which is subject to change, and Freedom Mortgage Corporation will not necessarily update the information.
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