Maxim Commercial Capital Reports 25% Growth in 2024
Jan 21, 2025 · Hard asset secured lender’s funded deals and portfolio grew substantially during year LOS ANGELES, CALIF. (Jan. 21, 2025) – Maxim Commercial Capital (“Maxim”) announced impressive growth during 2024, continuing a multi-year trend. The hard asset secured lender reported a 25% increase in funded deals during the year …
Square: Our Customers Actually Grow Faster With a Square Loan …
Nov 7, 2024 · On average, Square customers that used the Square Loan product grew 6% faster than those that did not use it, the company revealed. Jack Dorsey, the CEO of Square’s parent company, Block, used the 3rd quarter earning’s period as an opportunity to discuss its lending operations. The relevant parts are excerpted in non-sequential order below: […]
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 […]
TikTok is Now Offering Business Financing | deBanked
Oct 7, 2024 · A dd TikTok to the list of tech platforms offering business loans. TikTok Shop Capital is now “offering sellers access to fast and flexible business financing,” the company states on its website. Unsurprisingly, one of TikTok Shop’s partners is Parafin but the company also lists Storfund and Kanmon as funding partners. Storfund announced its deal with TikTok earlier today and said that ...
“MCA Debt Settlement” Company Sued - deBanked
May 7, 2024 · A firm that offers to “restructure corporate debt primarily MCA or Merchant Cash Advance debt” was sued last month by a small business owner for fraudulent inducement, consumer fraud, unjust enrichment, breach of fiduciary duties, and for a declaratory judgment. Corporate defendants include MCA Resolve LLC and Coastal Debt Resolve (ABSM LLC) in …
Covid EIDL Charge-Offs Explode, Increase By $52 Billion in FY 2023
Feb 4, 2024 · T he SBA charged off an extraordinary amount of Covid-era EIDL loans in its FY 2023, hitting $52 billion! That was up from the $220 million charged-off collectively in FY 2021 and 2022. $52 billion equates to 17.2% of the unpaid principal balance, an astonishing percentage considering that most of these loans still have approximately 28 years left on their term.
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 …
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 […]
Steve Sheinbaum to Speak at deBanked CONNECT MIAMI
3 days ago · Stephen Sheinbaum, CEO of Circadian Funding, will be speaking at deBanked CONNECT MIAMI on February 20 at the Fontainebleau in Miami Beach. Sheinbaum is a fintech veteran with 20 years of industry experience building investment products, platforms, programs and companies. As the former founder and CEO of Merchant Cash and Capital/Bizfi, he has funded and […]
Free UCC Searches By State - deBanked
May 16, 2023 · Free UCC Searches By State . Color Key: Free Account Required Paid Only Last Updated: 5/16/23 No guaranty or representation is made to the completeness or accuracy of this map or the content therein.