Announcements
Dedicated Financial GBC Welcomes Cory Svihla as Chief Revenue Officer
February 18, 2025
Dedicated Financial GBC is pleased to announce Cory Svihla as its new Chief Revenue Officer (CRO). In this role, Svihla will oversee the development and execution of revenue-generating strategies, focusing on aligning sales, marketing, and client success to drive sustainable growth and enhance client engagement.
Svihla brings to Dedicated a wealth of experience in strategic leadership and business development. Before joining Dedicated, he co-founded Intellex Forensics Advisory Services Inc., which played a pivotal role in shaping Svihla’s personal vision and leadership style. His entrepreneurial background and expertise in revenue growth strategy position him as a key leader that will advance Dedicated’s mission.
As Dedicated enters its next decade of delivering excellent services, Svihla will focus on expanding market reach, optimizing sales and marketing strategies, and identifying new opportunities for innovation and client engagement. His leadership has already had a positive impact at Dedicated, and he is poised further to strengthen the company’s position as a leader in the servicing industry.
“I am honored to join Dedicated Financial GBC and work alongside teammates committed to creating a meaningful impact,” said Svihla. “I look forward to driving growth, fostering strong relationships, and contributing to the company’s mission of changing the world through business.”
For more information about Dedicated Financial GBC and its leadership team, please visit https://www.dedicatedgbc.com/team/
Cloudsquare Announces Its New Integration with Rapid Finance
February 18, 2025Los Angeles, CA – February 18, 2025 – Cloudsquare, the premier end-to-end lending platform powered by Salesforce, proudly announces its latest integration with Rapid Finance, a trusted leader in Merchant Cash Advance (MCA). This new collaboration is set to redefine how brokers and lenders operate, enabling them to process applications faster, streamline funding workflows, and enhance overall efficiency.
Bringing Speed and Efficiency to Brokers and Lenders
For brokers and lenders, efficiency and speed are essential to gaining recognition in the market. Delays in approvals, manual data entry errors, and complex submission processes can lead to lost opportunities. With Cloudsquare’s seamless Rapid Finance integration, these challenges have become a thing of the past.
Key Benefits of the Cloudsquare + Rapid Finance Integration
· Submit deals effortlessly via API – Say goodbye to manual submissions and data entry errors.
· Bulk File Uploads – Attach necessary documents directly in the CRM.
· Upload files with each submission – Attach the necessary documentation directly within the CRM.
· Generate tailored offers instantly – Present funding options quickly based on merchant eligibility.
· Provide Instant Approval decisions – Close deals faster and gain a competitive edge.
Why This Integration Matters
Cloudsquare has always been at the forefront of MCA technology, offering brokers and lenders an advanced, scalable CRM solution designed to automate, optimize, and grow operations. With Rapid Finance now part of its growing list of lender integrations, brokers can accelerate their workflows, reduce processing time, and increase funding success rates—all within a single, intuitive platform.
Seamless Implementation for Brokers and Lenders
New users can launch Cloudsquare Broker with the Rapid Finance integration effortlessly, ensuring quick adoption and a fast return on investment. Existing Cloudsquare customers can easily add Rapid Finance’s API through a simple license upgrade, with expert onboarding and support to ensure a smooth transition.
About Cloudsquare
Cloudsquare is the leading end-to-end lending platform, uniquely powered by Salesforce to deliver unparalleled flexibility and innovation for lenders and brokers. With a commitment to optimizing lending processes through cutting-edge technology, Cloudsquare provides robust, scalable solutions that empower merchants to achieve greater efficiency and growth. Celebrated by industry leaders, Cloudsquare has earned a place on the Inc. 5000 list as one of America’s fastest-growing companies and is consistently rated a top service provider on platforms like Salesforce AppExchange, G2, Clutch, and Manifest.
For media inquiries, please contact:
Cloudsquare Marketing Email: marketing@cloudsquare.io
Statement from American Fintech Council (AFC) Chief Executive Officer, Phil Goldfeder, on the Nomination of Jonathan McKernan to Lead the Consumer Financial Protection Bureau (CFPB)
February 12, 2025“The American Fintech Council congratulates Jonathan McKernan on his nomination to lead the Consumer Financial Protection Bureau. Mr. McKernan’s extensive experience at the FDIC, FHFA, and the Senate Banking Committee provides him with a strong understanding of financial regulation and a balanced perspective on consumer protection.
“Throughout his career, Mr. McKernan has supported regulatory frameworks that foster innovation while safeguarding consumers. His approach to regulation emphasizes a fair and transparent financial system that empowers consumers while allowing for the responsible growth of new financial products and services.
“AFC looks forward to working with him to ensure that the CFPB continues to promote both consumer protection and responsible innovation in financial services. We are confident that under his leadership, the CFPB will effectively address the challenges and opportunities of an evolving financial landscape.”
Cloudsquare Integrates With CAN Capital
February 11, 2025
Los Angeles, CA – February 11, 2025 – Cloudsquare, the leading end-to-end lending platform powered by Salesforce, proudly announces the latest enhancement to its Cloudsquare Broker platform: the integration with CAN Capital’s API. This powerful collaboration empowers Merchant Cash Advance (MCA) brokers to optimize their lending operations with faster submissions, enhanced transparency, and better decision-making tools.
Cloudsquare Broker has long been recognized as the premier CRM for MCA brokers, simplifying and streamlining lending workflows. Now, with the addition of CAN Capital’s API, brokers gain access to cutting-edge features designed to elevate their performance and deliver exceptional results for merchants.
Key Features of the Cloudsquare Broker + CAN Capital Integration
- Smarter API Submission: Eliminate manual processes with direct integration into CAN Capital’s API. Submit complete applications—including all necessary documentation—in a single streamlined step, reducing errors and freeing up time to focus on closing deals.
- Transparent File Management: Upload additional documents to existing applications and monitor file statuses in real-time. Stay in control and respond quickly to lender requests for uninterrupted workflows.
- Real-Time Offers: Receive customized funding offers for your merchants as soon as they’re available. This ensures you’re equipped to present the best options confidently and quickly.
- Actionable Decline Insights: Gain detailed insights into application declines, enabling brokers to make necessary adjustments and improve future submissions for higher approval rates.
Why This Integration Matters
The Cloudsquare integration with CAN Capital is a game-changer for MCA brokers. By combining speed, accuracy, and transparency, this integration enables brokers to scale their operations effectively while delivering unparalleled value to their merchants. With over 15 lender API integrations available on Cloudsquare Broker, the platform provides unmatched flexibility and scalability to meet all your lending needs.
Seamless Implementation for New and Existing Brokers
For new brokers, combining the Cloudsquare platform with the CAN Capital integration is the ultimate solution for modernizing operations. Guided implementation ensures a quick and seamless launch, providing a rapid return on investment.
For existing Cloudsquare customers, adding the CAN Capital Lender API is effortless. With a simple license add-on and expert onboarding support, brokers can start leveraging the full power of this integration immediately.
For more information about the CAN Captial Integration, visit Cloudsquare
About Cloudsquare
Cloudsquare is the leading end-to-end lending platform, uniquely powered by Salesforce to deliver unparalleled flexibility and innovation for lenders and brokers. With a commitment to optimizing lending processes through cutting-edge technology, Cloudsquare provides
robust, scalable solutions that empower clients to achieve greater efficiency and growth. Celebrated by industry leaders, Cloudsquare has earned a place on the Inc. 5000 list as one of America’s fastest-growing companies and is consistently rated a top service provider on platforms like Salesforce AppExchange, G2, Clutch, and Manifest.
For media inquiries, please contact:
Cloudsquare Marketing Email: marketing@cloudsquare.io
American Fintech Council (AFC) Welcomes Acting Director of the CFPB Scott Bessent and Doubles Down on its Commitment to Champion Earned Wage Access (EWA) Through Federal and State Advocacy
February 3, 2025Washington, D.C. (February 3, 2025) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies, innovative banks, and the largest number of responsible Earned Wage Access (EWA) providers, is intensifying its efforts to ensure responsible EWA services remain accessible to American workers. Through federal engagement and testimony before eight state legislatures so far across the country, with two upcoming hearings in Nebraska and Utah, AFC is committed to supporting clear, pragmatic regulation for EWA to empower consumers and foster responsible innovation.
“Earned Wage Access is an essential financial tool for millions of American families, offering a safe and responsible alternative to the predatory credit products of the past,” said Phil Goldfeder, CEO of the American Fintech Council. “For generations, workers have been captive to an arbitrary pay period system that separates their work from their wages. EWA restores this connection, providing greater financial flexibility and stability for those who need it. AFC and responsible EWA providers are committed to establishing a regulatory framework that protects consumers and preserves access to EWA by recognizing that this product is not a loan, and should not be regulated as such.”
In a letter to Treasury Secretary Scott Bessent, who also serves as Acting Director of the Consumer Financial Protection Bureau (CFPB), AFC urged the pursuit of a formal rulemaking process that would allow consumers and industry participants to convey the nuances and benefits of responsible EWA products. AFC emphasized that responsible EWA providers offer a non-recourse, fee-transparent alternative to traditional credit products that helps workers access their earnings when needed, without late fees or penalties. AFC also highlighted the need for consistent federal regulation to address the patchwork of state laws that risk undermining the stability and availability of EWA services.
In a previous letter to the CFPB in February 2024, AFC asked for formal legislative rulemaking process, but the request went unheeded by then-Director Chopra. Instead, the CFPB issued a proposed informal interpretive rule, which discussed a novel and inaccurate interpretation of EWA and was never finalized. In addition, the CFPB rescinded its 2020 Advisory Opinion–the Bureau’s only official position on EWA–in the final moments of the previous administration, leaving industry participants without a clear understanding of the CFPB’s position.
In addition to federal advocacy, AFC representatives recently testified at hearings on EWA in Colorado, Indiana, New Mexico, North Dakota, Oregon, and Vermont, as well as two hearings in Washington state, with upcoming testimony in Nebraska and Utah, to speak about the consumer benefits of these offerings and the need to support responsible EWA practices. AFC will continue to monitor legislative and regulatory developments around EWA at the state level, and is prepared to engage collaboratively with any state considering guidance around this technology.
“A regulatory framework for Earned Wage Access must be grounded in a clear understanding of its role as an empowering tool for financial stability—not mischaracterized as traditional credit,” said Ian P. Moloney, SVP and Head of Policy and Regulatory Affairs at AFC. “EWA provides workers with immediate access to their hard-earned wages, helping them avoid the cycle of high-interest debt and predatory financial products. Misguided regulation risks sidelining this critical innovation, leaving millions of Americans without a safe, transparent alternative to address their financial needs. AFC is committed to ensuring that regulatory decisions are informed by facts and protect the unique consumer benefits EWA provides.”
A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.
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Dedicated Financial GBC Celebrates 10 Years of Significance by raising over $64,000 for Nonprofit Organizations
January 22, 2025
Shoreview MN – On January 10th, 2025, Dedicated Financial GBC proudly hosted its first-ever gala, celebrating 10 years of existence and significance. Held at the JW Marriott in Bloomington, the evening was spectacular. A glamorous red-carpet experience welcomed guests, complete with professional photos and video interviews led by the night’s host, Eric Perkins. Behind them stood a stunning backdrop displaying the logos of the many nonprofit organizations that Dedicated has worked with throughout the past decade.
The evening celebrated the heart of Dedicated’s mission: that businesses have the greatest opportunity to change the world and Dedicated is taking steps to prove that. The night began with a 90-minute cocktail hour to connect directly with the nonprofits at their table. Throughout the night, nonprofits shared from the stage about their mission and inspired guests toward action. Next, a borrower that Dedicated collected from during a truly devastating tragedy in her life shared a touching testimony. Acclaimed musical guest Jason Gray delivered an unforgettable, soul-stirring performance, and Amanda Brinkman took to the stage to inspire guests with her powerful message about pursuing purpose and following one’s unique journey.
The night also honored those who made an enduring impact by working with Dedicated. Awards were presented to outstanding team members, and a lifetime achievement award bestowed upon the CEO’s longtime mentor and the Senior Advisor to Dedicated, Dr. John Reik—a heartfelt tribute to the guidance and wisdom that shaped the company’s journey.
Closing the event, Dedicated’s CEO expressed deep gratitude to everyone who poured love, care, and time into the company over the past 10 years. In a moving moment, guests were invited to donate to the cause that resonated most with them. Representatives from each nonprofit met with guests and told firsthand stories of how their missions change lives.
It is incredibly unique to see a company mark a milestone like this—not by focusing solely on its achievements but by raising funds and awareness for causes that truly matter. In just one night, Dedicated and their guests raised $64,000 to support 14 nonprofit organizations. Over the past decade, Dedicated has contributed to these nonprofits through various drives, campaigns, and volunteer efforts, making a significant difference in many lives.
Looking forward to the next 10 years, Dedicated remains steadfast in their commitment to inspire businesses in becoming purpose-driven and putting people over profits.
Maxim Commercial Capital Reports 25% Growth in 2024
January 21, 2025LOS 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 as compared to 2023. Maxim is a national provider of loans and leases from $10,000 to $3 million collateralized by class 6 and 8 trucks, trailers, heavy equipment, and real estate.
“Our team stepped up to fill an increasing capital void for small businesses in 2024,” noted Michael Kianmahd, Maxim’s CEO. “Our consistent delivery and flexible terms have earned Maxim a strong reputation over the past 16 years among our customers and referral partners.”
Founded during the 2008 financial crisis, the privately-owned lender supports the needs of small and mid-sized businesses, including startups and those with challenged credit, during all types of economic landscapes. Keys to Maxim’s success include its dedication to customer success, providing value to its referral network of equipment vendors and finance brokers, and providing excellent customer service through all cycles and markets.
Class 8 truck financings during the year comprised loans and leases for experienced and startup owner operators in 41 states across the U.S. New borrowers included: an experienced owner operator with challenged credit who purchased a 2019 Kenworth T680 with 539K miles for $38,135 with 22% down and the help of a co-applicant; a startup owner operator with a limited credit history and 642 FICO who purchased a 2019 Kenworth T680 with 472K miles for $39,248 with 25% down; and, a startup owner operator with bad credit who purchased a 2020 Peterbilt 579 with 424K miles for $55,047 with 27% down.
Notable heavy equipment financings during the year included 100% purchase financing for a small car hauling business to buy a 2020 Freightliner M2 4-Car Carrier for $105,000. Maxim secured a second lien on the borrowers’ home as additional collateral in lieu of a down payment, helping the company preserve cash. A startup entrepreneur purchased a 2015 Freightliner 114SD, his first dump truck, for 36% down on the $109,000 invoice; and a subcontractor with 35 years of experience replaced an older compact track loader by leasing a 2023 New Holland C337 priced at $83,760 from Maxim.
Maxim also provided essential working capital for small businesses through structured real estate-secured, cash-out financings. New borrowers funded in 2024 include the owner of a virtual platform offering on-demand exercise and meditation classes who borrowed $200,000 in growth capital secured by a second lien position on her home; and, experienced restaurateurs in New York City who borrowed $410,000, secured by a 1st lien against a family residence, to pay off MCA debt held by five lenders, make property improvements, and expand the business’s catering services.
Maxim continues to expand and improve its infrastructure to support its growth. The company currently is seeking to hire an accounting manager and senior accountant. Please visit https://www.maximcc.com/our-company/careers/ for job descriptions and to apply.
About Maxim Commercial Capital
Maxim Commercial Capital helps small and mid-sized business owners nationwide by providing loans and leases (“financing”) from $10,000 to $3 million secured by trucks, trailers, heavy equipment, and real estate. It funds equipment purchase financings and leases, working capital, and debt consolidations. Maxim’s more creative financing structures leverage equity in real estate and owned heavy equipment to facilitate growth and preserve customers’ cash. As a leading provider of transportation equipment financing, Maxim supports startup and experienced owner-operators and non-CDL small fleet owners by funding loans and leases for class 8 and class 6 trucks, trailers, and reefers. Learn more at www.maximcc.com or by calling 877-776-2946.
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Cloudsquare Lend 3.12: Enhancing Efficiency and Flexibility for Lenders
January 13, 2025Cloudsquare, the leading end-to-end lending platform powered by Salesforce, is proud to announce the latest upgrades to its innovative loan management software, Cloudsquare Lend. The 3.12 release introduces a suite of new features and refinements designed to address lenders’ growing needs while reinforcing the platform’s reputation as a reliable, scalable, and customizable solution.
Key Highlights of Cloudsquare Lend 3.12
- Sole Proprietor Support: Expanded Federal Tax ID capabilities now include Social Security Numbers (SSNs), allowing lenders to accommodate sole proprietors and small businesses better.
- Holiday Reserve for MCA Agreements: Streamline daily payment management around banking holidays with features that allow adjustments tailored to lender practices.
- Approval Gross Margin Calculation: Automatically calculate lender profitability, factoring in referral source commissions for actionable insights.
- Field History Tracking: Improve compliance and transparency with automatic tracking of financial data changes, such as ACH updates and bank account modifications.
Servicing Enhancements
The update also includes improvements to servicing operations:
- Addressed bugs affecting post-holiday payments for weekly and monthly deals, ACH item updates, and balance calculations.
- Ensured smoother processing and more accurate financial data management.
Bug Fixes for Improved Reliability
This release resolves system bugs across origination, servicing, and syndication, ensuring greater operational reliability. Key fixes include:
- Calculation issues
- ACH item handling
- Repayment balance accuracy
“Our goal with every update is to listen to our customers and deliver practical solutions that make their operations more efficient,” said Jeffrey Morgenstein, CEO of Cloudsquare.
For more information about the Lend 3.12 Release or to schedule a demo, please visit Cloudsquare
Cloudsquare is the leading end-to-end lending platform, uniquely powered by Salesforce to deliver unparalleled flexibility and innovation for lenders and brokers. With a commitment to optimizing lending processes through cutting-edge technology, Cloudsquare provides robust, scalable solutions that empower clients to achieve greater efficiency and growth. Celebrated by industry leaders, Cloudsquare has earned a place on the Inc. 5000 list as one of America’s fastest-growing companies and is consistently rated a top service provider on platforms like Salesforce AppExchange, G2, Clutch, and Manifest.
For media inquiries, please contact:
Cloudsquare Marketing
Email: marketing@cloudsquare.io
