Cumulative Covid EIDL Chargeoffs Now Exceed $70 Billion
Nov 19, 2024 · The latest data from the SBA is in. It charged off $18.7B in Covid EIDL loans in FY 2024. That was down from $52B charged-off in FY 2023. The program still has an unpaid principal balance of $277B. PPP loans were still being written off in FY 2024 as well, coming in $2.5B charged-off vs […]
Legal Complexities in the Revenue-Based Financing Industry: An …
Jan 6, 2025 · Jeffrey S. Paige is the General Counsel of CFG Merchant Solutions. Visit: https://cfgmerchantsolutions.com Navigating the intricate legal landscape of the revenue-based financing industry has become increasingly complex, with recent court cases providing profound insights into the sector’s regulatory dynamics. Amidst legislative shifts, litigation between funders and merchants, and public ...
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New Jersey Tries Commercial Financing Disclosure Bill Again
Oct 17, 2024 · For the 7th year in a row the legislature in New Jersey is trying to pass a commercial financing disclosure bill. While a notable component is an APR requirement it also applies a broad warning to brokers. A broker shall not make or use: (1) any false or misleading representations or omit any material fact […]
Let’s Talk About Merchant Cash Advance Collections
Jan 3, 2024 · One of the best ways to maximize the effectiveness of merchant cash advance collections is to do a few simple things before and after the deal is funded. deBanked sat down with Leo Vargas, CEO of Triton Recovery Group, to discuss one of the most popular topics in the industry. You can watch it below […]
Lightspeed: ‘MCAs continue to be popular’ | deBanked
Dec 10, 2024 · “Lightspeed Capital revenue grew to $9.3 million from $4.2 million in Q2 of last year, up 121% year over year as the program continues to be popular with our customers,”” said Lightspeed CFO Asha Bakshani. “Lightspeed Capital offers fast access to capital and automatic repayment through Lightspeed Payments.” “Overall, Lightspeed generated $277M in …
New Jersey Bill’s New Definition of “Commercial Financing”
Jan 2, 2025 · New Jersey Senate Bill 1397 is still alive in 2025. This particular commercial financing disclosure bill intends to require APR disclosures for a broad range of products in commercial financing, including non-loan products. “Commercial financing means an open-end financing, closed-end financing, sales-based financing, factoring transaction, finance lease, as that term is defined in N.J.S.12A ...
See You in Las Vegas | deBanked
Sep 18, 2024 · W e’ll be in Las Vegas for the inaugural B2B Finance Expo (a deBanked / SBFA collaboration). Tickets are just about sold out so if you haven’t bought one already, check the site to see if registration is still active.It will turn off automatically. Here’s what you need to know: Sept 22, Wynn, Las Vegas, 7-10pm: B2B Finance Expo Poker Tournament ...
Trump, Republicans To Take Over in 2025 | deBanked
Nov 6, 2024 · W ith the 2024 election results in, the regulatory and legislative environment for the small business finance industry could shift significantly at the federal level in the coming years. In particular, it will be worth paying specific attention to what happens with the Consumer Financial Protection Bureau (CFPB). As many readers are aware, the …
eBay: ‘We’ve Already Done $40M in MCAs’ | deBanked
Nov 3, 2024 · eBay is coming in hot to the small business financing game. The company reported that it had connected merchants with $100M in funding YTD, over $40M of it being “business cash advances” through Liberis alone. Liberis is a UK-based company that expanded into North America 4 years ago. It secured $112M in debt funding last […]