Newsletter Sent On: 06/29/2023

Fintech Nexus Ends Large-Scale Event Business Read more

PeerStreet Files Chapter 11
Founded in 2013, PeerStreet was a platform for online investing in real-estate debt that enabled accredited investors, funds, and institutions to access certain real estate-related debt investments that were historically difficult to invest in, and permitted lenders and borrowers to access capital that has been historically difficult for them to access. Read more

Blue Bridge Financial Extends and Upsizes Corporate Note to $20 Million
Blue Bridge Financial, Inc. successfully upsized and extended their corporate notes to $20 million to support continued growth and for general corporate purposes, and was advised by Brean Capital, LLC. Read more

Loan Scammers Play With Email Dots
The SBA and OIG recently reported that scammers have been exploiting periods in email addresses. Read more

CLFP Rolls Out in Australia
The Certified Lease & Finance Professional (CLFP) designation is finally being rolled out in Australia after years of collaboration between the CLFP Foundation in the US and the Commercial Asset & Finance Brokers Association (CAFBA) in Australia, with fifteen professionals currently going through the program. The aim is to make the CLFP the preeminent credential throughout the world, with discussions already underway in Canada and other countries. Read more

SBA/OIG: $200B+ in PPP/EIDL Fraud
Bombshell report from the SBA admits that least 17% of relief went to scammers. Read more

Lightspeed Capital Generated $8.1M in MCA Revenue Last Year
Lightspeed has been providing MCA services since 2005 and has seen a steady increase in volume, with their MCA receivable balance increasing from $6.3M to $29.5M YoY. Read more

Google Files Lawsuit Over Fake Business Profiles and Fake Reviews
Google has taken legal action against a bad actor for deceiving and scamming consumers, and is investing in new technologies and processes to keep information on their products helpful and reliable. Read more

Federal Legislators Jump on Commercial Financing Disclosure Bandwagon, Renew Push to Give CFPB Authority Over Industry
Congress is pushing for a federal bill that would place the small business finance industry under the authority of the Consumer Financial Protection Bureau (CFPB) and require providers to disclose an APR and estimated term of repayment and periodic payments based on projected sales volume. Read more

CFG Merchant Solutions Surpassed $1 Billion in MCA Originations in Q1 2023
CFG Merchant Solutions, LLC (CFGMS) has surpassed $1 billion in MCA originations since 2015, and recently secured $20 million in investment-grade rated corporate note financing from a group of top-tier institutional investors. CFGMS is dedicated to customer service, user experience, and transparency, and is committed to understanding the business objectives of SMBs and formulating customized capital solutions. Read more

Interest Rate Cuts Unlikely For a Couple of Years
The Federal Reserve's decision to maintain interest rates does not indicate that a turning point for future decreases is imminent, as Fed Chair Jerome Powell stated that cuts are unlikely for a couple of years due to persistent inflation. Read more

Merchant Growth to Fund Loop's SMB Deals
In Canada, Merchant Growth has agreed to be the funding source for Loop's working capital applications. Read more

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