Murray Loses Election for ENS Foundation Directorship | Sean Murray was nominated for the open director position of the ENS Foundation, advocating for ENS names as a form of web-based identity. He lost the election to Alex Van de Sande, who has a more qualified background in the Ethereum ecosystem. Murray believes that there will be a crossover between the traditional financial system and blockchain technology, and that a username system would be an integral part of that. Read more
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10 Commandments of ACH Processing For Brokers | Zalman Notik, the Operations Manager of MCA Track & GoACH, recently shared his 10 Commandments of ACH Processing with deBanked, providing advice on how to properly disclose fees, communicate with merchants, and store paperwork securely to avoid disputes. He also emphasized the importance of treating merchants with respect. Read more
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Pending Florida Law Draws From DailyFunder's Rulebook | Florida's impending disclosure law is not so unique after all, as it is a copy & paste of a rule on DailyFunder that was declared in October 2015. The bill is currently awaiting the signature of Governor DeSantis. Read more
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How Many Funders and Brokers Are There? | The State of Virginia has only 115 total sales-based financing providers lawfully registered to transact with merchants, including both funders and brokers, which is surprisingly low. Applicants must meet certain criteria in order to be registered. Read more
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Impact of ChatGPT Era Already Being Felt | Stack Overflow is a go-to platform for developers to solicit answers from more experienced professionals about their coding challenges, and ChatGPT-4 is an OpenAI chatbot technology that can write its own code, edit a user's code, and even converse about what a user is trying to accomplish, which has caused a decrease in Stack Overflow's user traffic. ChatGPT-4 is also being used in the lending industry to replace online searches and brokers, and can even read contracts and alert borrowers to certain clauses. Read more
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Florida Set to Enact Commercial Financing Disclosure Law With Unique Broker Rule | Florida has recently passed a new state disclosure law that requires brokers to adhere to a specific code of conduct, which will go into effect on July 1, 2023. This bill was first reported on March 16th and has now passed both chambers of the legislature. Read more
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iBusiness Funding Acquires Select Non-SBA Assets and Talent From Fountainhead SBF LLC | As a result of the acquisition, iBusiness Funding plans to leverage the acquired team's expertise to continue growing its LaaS business and expand into new areas including general partner lending, construction loans, and multi-draw lending. This acquisition will also enable iBusiness Funding to relaunch its SBA micro and express loan programs supported by their proprietary SBx approval model, providing small businesses with more accessible and flexible loan options. Read more
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Small Businesses Felt the Shift in Q1 as Well | Small businesses had high expectations for 2023, but the first quarter of the year did not meet those expectations. Despite this, most businesses remain optimistic about the future and are expecting to see growth in the second quarter. Read more
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