Announcements
Big Think Capital Issues Statement on Resolution of Litigation with Centrex and Forth
July 8, 2025New York, NY – 7/8/2025 – Big Think Capital announces today the resolution of its litigation with Centrex and Forth in California federal court. As part of the settlement, Big Think Capital has agreed to issue the following public statement:
“The Lawsuit commenced by Big Think Capital against Centrex and Forth in California federal court has been dismissed by Big Think Capital. Big Think Capital does not dispute that the data incident that compromised the Forth and/or Centrex platforms was caused by and attributable only to malicious third-party actors who were not associated with Centrex or Forth. Big Think Capital accepts as true that neither Forth nor Centrex had any involvement in the data incident at issue. Any prior statements made by Big Think Capital to the contrary are retracted and withdrawn.”
This statement resolves the matter fully and finally between the parties.
Media Contact:
Michael DiRienzo
Director Of Communications
Big Think Capital
mike.dirienzo@bigthinkcapital.com
(516) 475-2066
NMEF Achieves Largest Quarter and First Half in Company History
July 1, 2025[July 2, 2025, NORWALK, CT] – North Mill Equipment Finance, LLC (“NMEF”), a leading commercial equipment lessor located in Norwalk, Connecticut, today announced that it achieved the largest quarterly and first half origination volumes in its history. Originations hit a record $277 million in the second quarter, bringing first half 2025 production to an unprecedented $520 million, an increase of over 100% versus first half 2024. Including the acquisition of Pawnee’s assets that went onto NMEF’s balance sheet on April 1, total origination volume for the second quarter was $607 million and for the first half of 2025 was $850 million.
For the first half of 2025, NMEF also reported a meaningful increase in credit quality, evidenced by a higher weighted average FICO of 745. The largest equipment categories were medical (23%), franchise (13%), construction (12%), and IT (8%). Long haul trucks comprised less than 2% of volume. Corporation only transactions represented over 25% of volume.
David Lee, Chairman and CEO of NMEF, commented, “Reaching these new highs is a direct result of executing our strategy to diversify and scale. We’ve invested heavily in building a platform that supports more sophisticated transactions, and it’s gratifying to see that translate into stronger credit profiles, larger deals and further industry diversification. Moreover, a majority of our dollar volume now consists of mid-ticket, fully underwritten transactions.”
Mark Bonanno, President and Chief Revenue Officer, added, “Our record growth is made possible by the trusted long-term relationships with both our NMEF brokers and our Taycor vendor partners. By staying agile and solution-oriented, we’re able to meet their evolving needs and help drive mutual growth. We’re excited to keep this momentum going into the second half of the year.”
Tom Lyle, EVP and COO, stated, “In less than two years NMEF has doubled from $1 billion to $2 billion in assets under management. The internal restructuring of our operations, reporting lines, and integration of Pawnee’s talented employee base, have NMEF well positioned to continue scaling to our goal of $5 billion by the end of the decade.”
About North Mill Equipment Finance (NMEF)
NMEF is a national, premier lender who works with third-party referral (TPR) sources to finance small to mid-ticket equipment commercial leases and loans ranging from $15,000 to $3,000,000 and up to $5,000,000 for investment grade opportunities. NMEF accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, renovation, janitorial and material handling equipment. NMEF is majority owned by an affiliate of InterVest Capital Partners. The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, Voorhees NJ, and Murray, UT. For more information, visit www.nmef.com. One of NMEF’s controlled affiliates, BriteCap Financial LLC, is a leading non-bank lender providing small businesses with fast, convenient financing alternatives such as working capital loans since 2003 from its main office in Las Vegas, NV. For more information, visit www.britecap.com.
Cloudsquare Launches the New and Most Powerful Integration With Loot
June 18, 2025Los Angeles, CA – June 17, 2025 – Cloudsquare, a leader in Salesforce MCA and Salesforce lending solutions, has announced the release of its newest Lender API module—this time with Loot, a fast-growing alternative funder known for speed and automation.
This API-powered connection is now available within Cloudsquare, the most robust Merchant Cash Advance CRM built on Salesforce. With it, brokers can submit deals, track statuses in real-time, manage files efficiently, and generate offers faster—all without leaving their CRM.
Key Benefits of Loot:
- Real-Time Status Tracking via webhooks
- Simplified File Uploads through a dedicated endpoint
- Automated Offer Generation—no pre-approval waiting
- Decline Reason Visibility for smarter resubmissions
- Categorized Industry Picklists to streamline underwriting
Built for funders and brokers who rely on Salesforce for MCA, this new module eliminates redundant tasks and helps users close more deals in less time—with greater accuracy.
How Cloudsquare is Elevating the MCA Industry
Cloudsquare continues to lead the charge in redefining the lending landscape by offering fully integrated, Salesforce-powered solutions tailored for MCA brokers and lenders. With a suite of over 20 lender API integrations, Cloudsquare Broker empowers brokers and lenders to streamline processes, increase deal volume, and elevate customer satisfaction.
Explore More on Our Website Here.
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
NMEF Announces Strategic Joint Venture With Oaktree to Accelerate Growth in FMV Leasing Platform
June 10, 2025JUNE 10, 2025, NORWALK, CT – North Mill Equipment Finance, LLC (“NMEF” or “North Mill”), a leading commercial equipment lessor located in Norwalk, Connecticut, today announced a new partnership with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a global investment firm with deep expertise in credit and asset-backed finance. The collaboration launches a joint venture designed to grow NMEF’s fair market value (FMV) equipment leasing platform, alongside Oaktree’s investment in the venture.
The combined capital commitment from Oaktree and NMEF will support the funding of $350 million in FMV equipment lease originations initially, with additional capital capacity available to continue funding the venture.
This partnership combines NMEF’s established origination network and servicing capabilities in the equipment leasing space with Oaktree’s institutional capital base and investment team. This new extension of NMEF’s platform will focus on FMV leases across a wide range of essential-use equipment including construction, medical, logistics, and manufacturing assets.
“This marks a major step forward in our efforts to deliver flexible, value-driven leasing solutions to the market,” said David Lee, Chairman and CEO of North Mill Equipment Finance. “We’re excited to work with a partner like Oaktree who shares our long-term vision and brings deep understanding of asset-backed investing.”
Under the terms of the agreement, NMEF will originate and service all transactions through their national network of independent originators and vendors. North Mill will also invest alongside Oaktree in the venture.
“We’ve built a strong and scalable platform, and this partnership allows us to bring it to a broader investor base,” said Lee Bergeron, Senior Vice President of Structured Products at NMEF. “Together with Oaktree, we’re well-positioned to meet growing demand for flexible equipment financing solutions.”
Paul Cheslock, Vice President of Structured Products at NMEF, added, “This collaboration gives us the capacity to do more of what we do best—helping businesses acquire the equipment they need with creative and sustainable financing options.”
From Oaktree’s perspective, the partnership is a natural fit with their investment strategy. “We’re pleased to partner with North Mill to support the next phase of growth for their FMV platform and bring long-term value to their customers,” said Rana Mitra, Managing Director at Oaktree. “We are excited to partner with an extremely high-quality originator and servicer like North Mill as we continue generating attractive asset-backed finance exposures for our investors,” said Brendan Beer, Portfolio Manager for Oaktree’s Asset-Backed Finance and Structured Credit strategy.
About North Mill Equipment Finance (NMEF)
NMEF is a national, premier lender who works with third-party referral (TPR) sources to finance small to mid-ticket equipment commercial leases and loans ranging from $15,000 to $3,000,000 and up to $5,000,000 for investment grade opportunities. NMEF accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, renovation, janitorial and material handling equipment. NMEF is majority owned by an affiliate of InterVest Capital Partners. The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, Voorhees NJ, and Murray, UT. For more information, visit www.nmef.com. One of NMEF’s controlled affiliates, BriteCap Financial LLC, is a leading non-bank lender providing small businesses with fast, convenient financing alternatives such as working capital loans since 2003 from its main office in Las Vegas, NV. For more information, visit www.britecap.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $203 billion in assets under management as of March 31, 2025. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 25 cities worldwide. For additional information, please visit www.oaktreecapital.com.
Register for The 7th Annual Alternative Finance Bar Association Conference
May 21, 2025
The AFBA Conference is BACK.
If you are an attorney in this industry, you won’t want to miss the Alternative Finance Bar Association’s (AFBA) 7th Annual Conference, here in NYC June 9-10. They will be covering current events in the legal world of alternative finance, including the latest regulatory and caselaw developments, upcoming CA collections requirements, rapidly changing NY law, bankruptcy strategies and a lot more. This is an extremely reputable bar association with top notch attorneys in the field.
For more detailed agenda information & a registration link, click here: https://www.eventbrite.com/e/afba-7th-annual-conference-tickets-1317879616409
CS Lend 4.0 Fuji Release Unveiled: Cloudsquare Launches AI-Driven Enhancements to Modernize Loan Management
May 21, 2025
LOS ANGELES, CA – May 20, 2025 – Cloudsquare, the leading Salesforce-powered lending platform, proudly announces the release of CS Lend Spring 2025—a major evolution in lending automation that equips brokers and lenders with powerful AI-driven tools to streamline operations, speed up decision-making, and scale with precision.
What’s New in CS Lend Spring 2025?
IntelliParse: AI-Powered Document Processing
Automate the parsing of ISO applications and bank statements. Extract borrower data directly from PDFs and sync structured records into Salesforce—faster, more accurately, and with no manual entry.
DataMerch Integration: Fraud Prevention Built In
Verify merchants instantly with native access to DataMerch inside CS Lend. Search, tag, and manage merchant risk without switching platforms.
Commission Module: Streamlined ISO Payouts
Set flexible commission rules, automate payouts, and generate ACH-ready files. Gain complete visibility into earnings and eliminate spreadsheet-based tracking.
File Management Enhancements
Classify, organize, and retrieve files with smart attribution and improved metadata. Spend less time searching and more time closing.
The Spring ’25 Release gives lenders the edge they need to succeed in today’s fast-paced MCA and lending markets. From reducing underwriting time to preventing risk and automating ISO payments, Cloudsquare continues to lead in delivering technology that drives speed, scale, and smarter lending decisions. Find out more on our blog: https://link.cloudsquare.io/8oLA
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
Dragin Technologies Launches the First True AI Pre-Underwriting Tool for Revenue-Based Financing, Redefining the Future of Digital Business Intelligence
May 16, 2025New York, NY — May 16, 2025 — Dragin, the automation engine behind some of the fastest-growing and largest revenue-based financing companies, announces the launch of its latest breakthrough: True AI Web-Based Pre-Underwriting. This powerful new AI tool delivers real-time digital presence analysis to deal teams just before offers are made.
Designed for Revenue-Based Financing
In an industry where speed, accuracy, trust, and decision confidence drive every dollar moved, Dragin’s new AI functionality equips funders with a clear picture of a merchant’s online credibility and activity, automatically pulled before a human ever touches the file.
Here’s what it uncovers:
- Ownership and business addresses
- Business website, social media pages, storefront images, and location markers
- Incorporation information, SOS details, and NAICS codes
- Legal exposure including lawsuits, arbitration, and personal risk
- News coverage and media presence
- Financial signals and business health
- Registrations and licenses
- Customer reviews (Google, Yelp, Trustpilot, etc.)
- Top social media posts and engagement
How It Works
The moment a deal hits your inbox, Dragin’s proprietary automation stack kicks in, extracting deal info, organizing docs, applying pre-decline logic, and now, launching the AI agent. In under 30 seconds, it builds a hyperlinked, easy-to-read Digital Presence Report and attaches it directly to the CRM deal view. No clicks, no searches, no lag.
Why It Matters to Funders
For revenue-based financing companies, every delay risks a lost deal. Every gap in diligence risks a burned book. Dragin AI closes those loops.
✔️ Cost savings
✔️ Faster pre-qual checks
✔️ Early fraud detection
✔️ Deal confidence pre and post contracts
✔️ Fewer merchant falloffs post contracts
✔️ Streamlined ISO and internal decisioning
From Dragin’s Founder
“In the revenue-based financing space, you need to move fast without missing the red flags,” said Mark Ross, CEO of Dragin. “This tool gives funders real time signals, whether the merchant is real, active, and viable, before you send an offer. No more hours of review.”
Part of a Larger Ecosystem
Dragin AI is just one tool in Dragin’s full-stack deal automation platform, which includes:
- Email parsing and file classification
- Bank PDF and application extraction
- Pre-qualification, auto-approve, and pre-decline logic
- Instant CRM syncing
- Auto-contract generation
- Merchant offer portal for real-time negotiation
and much more
About Dragin Technologies
Developed specifically for the revenue-based financing, alternative lending, banking, and insurance spaces, Dragin’s suite of underwriting tools automate deal intake, streamline underwriting, and gives funders a smarter way to scale. With its Machine Learning and AI-driven tech stack and its powerful CRM suite, DraginForce, Dragin is powering the next wave of fast, AI-powered, and compliant funding operations. Learn More About Dragin at https://www.dragin.io
LendSaaS Embeds AdvanceIQ.ai’s SRI to Help Originators Filter, Price, and Allocate with Confidence
April 29, 2025NEW YORK, April 29, 2025 — AdvanceIQ.ai, a data intelligence platform powering smarter risk assessment and portfolio optimization in the SMB alternative lending sector, today announced a strategic partnership with LendSaaS, a leading Merchant Cash Advance (MCA) origination and servicing platform. Through this partnership, AdvanceIQ.ai’s SMB Risk Index (SRI) — a purpose-built scoring model for SMB financing — is now fully integrated into LendSaaS, providing users with fast, actionable insights directly within their existing workflows.
With SRI embedded into the platform, LendSaaS customers can seamlessly filter opportunities, price risk with greater precision, and allocate capital more effectively — all without disrupting current processes.
“LendSaaS has established itself as a key platform for MCA originators,” said Tomo Matsuo, Founder and CEO of AdvanceIQ.ai. “By integrating SRI, LendSaaS users gain instant access to tailored risk scores and portfolio intelligence, empowering them to make smarter, data-driven decisions at the top of the funnel and improve portfolio performance.”
The SMB Risk Index (SRI) is engineered specifically for the alternative SMB financing space. Trained on real-world MCA performance data, it leverages intuitive, widely adopted underwriting attributes to help originators reduce operational overhead, improve pricing strategies, and optimize capital deployment. Fully integrated into LendSaaS, SRI enhances underwriting workflows, minimizes manual effort, and supports confident, scalable growth.
“As competition in the MCA space intensifies, our customers need every advantage to assess risk quickly and confidently,” said Josh Carcione, Owner and Founder of LendSaaS. “Partnering with AdvanceIQ.ai gives them access to a purpose-built scoring model and portfolio tools that cut through the noise and drive faster, more informed decisions.”
This integration further reinforces LendSaaS’ commitment to offering a comprehensive and customizable platform that supports MCA originators from application to funding — and beyond.
About AdvanceIQ.ai
AdvanceIQ.ai is a data intelligence platform powering smarter risk assessment and portfolio optimization in the SMB alternative lending sector. The company provides the SMB Risk Index (SRI), a specialized scoring model for evaluating SMB risk profiles, as well as portfolio intelligence solutions that help originators, brokers, and investors reduce acquisition costs, improve underwriting consistency, and maximize portfolio profitability. Learn more at www.advanceiq.ai.
About LendSaaS
LendSaaS is a leading software solution in the MCA industry, known for its comprehensive suite of tools designed to streamline and optimize the lending process. From origination to servicing, LendSaaS provides lenders with the technology they need to succeed in a competitive market. Learn more at www.lendsaas.com.
