Announcements

Cloudsquare Lend 3.12: Enhancing Efficiency and Flexibility for Lenders

Cloudsquare, 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

NMEF Sets Unprecedented Milestones, Breaking All-Time Monthly, Quarterly, and Annual Origination Records

JANUARY 6, 2025, NORWALK, CT – North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender and lessor headquartered in Norwalk, Connecticut, announced unprecedented performance milestones in originations for December, the fourth quarter, and the full year. Originations soared to an all-time high of $105.9 MM in the month of December, reflecting a remarkable 132% increase over December of last year. The fourth quarter closed with an extraordinary $252 MM in originations, while the full year reached a record-setting $654 MM, representing 21% growth compared to prior benchmarks.

David Lee, Chairman and CEO of NMEF, commented on the company’s historic success: “The fourth quarter was transformational for NMEF, with originations surpassing our previous quarterly record by an impressive 68%. This growth was driven in large part by the rapid expansion of our mid-ticket business, showing 178% growth year over year. Our evolution from a small-ticket subprime lender to a small and mid-ticket lender focused on near-prime opportunities reflects the success of our strategy and commitment to meeting the diverse needs of our partners. Furthermore, NMEF’s corporate-only product increased 11 points as a percentage of originations, underscoring our focus on mid-ticket portfolio enhancement.”

Mark Bonanno, President and Chief Revenue Officer of NMEF, attributed this exceptional performance to the company’s innovative culture and its robust network of partnerships. “This milestone is a testament to the incredible relationships we’ve built and nurtured over the years. Our ability to think creatively and work collaboratively with both new and long-standing partners has been instrumental in driving these results. We’re deeply grateful to our partner and referral network for their trust and collaboration, which enables us to continually push the boundaries of what’s possible in equipment finance.”

“We’re excited by the progress we’ve made this year. Through initiatives like integrating Taycor, expanding our credit appetite to include larger ticket sizes, and developing a true FMV program, our efforts to develop North Mill into a scalable platform for growth are beginning to show results. These advancements position us to support larger, more sophisticated transactions and deliver sustained growth in 2025 and beyond.” said Tom Lyle, COO of NMEF.

About North Mill Equipment Finance

NMEF originates and services small to mid-ticket equipment leases and loans, ranging from $15,000 and up to $5,000,000 for investment grade opportunities, and accepts A – C credit qualities and finances transactions for many asset categories including construction, transportation, vocational, medical, manufacturing, technology, franchise, 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, Murray, UT and Voorhees NJ. For more information, visit www.nmef.com. Taycor Financial operates as an independent division of NMEF, with a focus on developing direct and vendor origination programs. For more information, visit www.taycor.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 from its main office in Las Vegas, NV. For more information, visit www.britecap.com.
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Cloudsquare Broker Announces Fall ’24 Release: New Automation and Efficiency for Small Business Lending Brokers

Los Angeles, CA – November 12, 2024 – Cloudsquare, a leading innovator in lending technology, is proud to announce the Fall ’24 release of Cloudsquare Broker, its powerful CRM solution for small business lending brokers. This latest update introduces groundbreaking features designed to streamline deal management, boost productivity, and provide greater visibility and control over lending operations.

A Game-Changer for Small Business Lending Brokers
Cloudsquare Broker’s Fall ’24 release focuses on solving key pain points for brokers by providing tools that enhance process automation, increase transparency, and optimize workflow efficiency. These updates come in response to the growing need for comprehensive, adaptable solutions that can scale with a company’s growth.

New Features in the Fall ’24 Release Include:

• Notification Management: Users can now stay up-to-date on deal milestones with customizable, no-code triggers and real-time alerts, ensuring no crucial updates are missed.
• Enhanced Lender API File Submissions: Full transparency is achieved with individual status tracking, allowing brokers to monitor each file’s journey and resubmit swiftly as needed.
• Advanced Workflow Enhancements: Designed to optimize the submission user experience, these targeted improvements empower teams to manage submissions with greater precision, control, and speed, enhancing overall operational efficiency.

“Our team has worked tirelessly to deliver features that align with our customers’ needs for automation, efficiency, and adaptability,” said Jeffrey Morgenstein, CEO of Cloudsquare. “The Fall ’24 release of Cloudsquare Broker exemplifies our commitment to empowering small business lending brokers to maximize their potential with tailored solutions built on Salesforce.”

Availability
The Fall ’24 update is now available to all existing Cloudsquare Broker users. New customers can explore the full potential of this update through tailored demos and consultations.

For more information about the Cloudsquare Broker Fall ’24 release or to schedule a demo, please 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

Idea Financial Secures $50 Million Warehouse Facility to Expand Small Business Lending

Miami, FL – Idea Financial, the leading provider of small business lines of credit, today announced the successful closing of a new $50 million warehouse facility led by Performance Trust Capital Partners. This strategic move significantly enhances Idea Financials’ lending capacity and allows the company to increase its maximum loan limit to $350,000 for well-established small businesses.

The new facility was made possible due to Performance Trust’s relationships with community banks and strengthens Idea Financial’s position in offering competitive and flexible financial products to Main Street businesses across the United States.

“Performance Trust has opened up an entirely new market for Idea Financial through their deep relationships with smaller community banks,” said Larry Bassuk, Idea Financial’s President and co-founder. “With this additional capital, we will continue our mission to be a premier provider of lines of credit for small businesses.”

Justin Leto, Idea Financial’s CEO and co-founder, added, “As the economy shows tremendous resilience and continues to grow, Idea Financial, along with Performance Trust, will be well-positioned to fuel that growth.”

Prior to this partnership, Idea Financial provided lines of credit up to $250,000. The increase to $350,000 allows the company to better serve the needs of growing small businesses requiring larger capital infusions.

Performance Trust Capital Partners, a full-service investment bank focused on community depository institutions, facilitated this deal by leveraging its relationships with community banks and aggregating the capital necessary to provide this substantial warehouse facility – a task typically requiring significant capital from super-regional or national banks.

This partnership marks a significant milestone in Idea Financial’s growth trajectory and reinforces its commitment to supporting small businesses across the nation.

About Idea Financial
Idea Financial is the leading non-bank provider of small business lines of credit in the United States. The company offers financial solutions to high-quality, established businesses needing funds to drive growth. To date, Idea Financial has funded thousands of American small businesses with hundreds of millions of dollars in loans, helping businesses #ChargeForward. For more information, visit ideafinancial.com.

About Performance Trust Capital Partners
Performance Trust Capital Partners is a full-service investment bank focused on community depository institutions. Their innovative approach enables syndication opportunities among community bank partners, allowing for the creation of significant facilities to support small business lenders. For more information, visit performancetrust.com.

For more information, please visit www.ideafinancial.com or contact Idea Financial at marketing@ideafinancial.com

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