Newsletter Sent On: 10/19/2023REGISTER TO RECEIVE THEM | RETURN TO HOME PAGE

Whoa, That's a Lot of Bad EIDL Deals Read more NY Appellate Division Rules One Funder's Contract Crossed Loan Threshold The Second Department of New York's Appellate Division ruled very unfavorably against one type of MCA contract. Read more Senate Votes to Overturn CFPB Small Business Lending Power? Well this is odd, the Senate, with some bipartisan support, voted to remove the CFPB's small business lending powers afforded to it under Section 1071 of Dodd Frank. It would still need to pass the House and survive a Biden veto. Read more With Fraud on the Rise, AI Can Fill in the Gaps Industry experts agree that embracing these technologies will help preserve capital and increase profitability in the lending industry. Read more Survey: Factoring Sector of Finance Industry Shows Resilience Despite Decreased Volume The Secured Finance Network released their Mid-Year Factoring Industry Survey which found that despite a lingering threat of recession, member organizations are optimistic about the demand for new business and portfolio performance. The survey also revealed that factoring volume decreased by 13.5% compared to the same period in 2022, with U.S. volume down 13.3% and international volume falling by 23.7%. Read more Addressing Misconceptions in the MCA Business Discussing some of the stranger things said this year. Read more ISO Arrested by FBI Paul Paredes, the owner of J&E Business Consulting LLC in Rochester, NY, was arrested this week for allegedly using the identities of his merchant processing clients to fraudulently obtain business loans for himself, and laundering the proceeds in a similar fashion to a 'Ponzi scheme'. He is also facing a related civil lawsuit. Read more Massachusetts Legislators Propose Small Business Lending Data Collection Massachusetts legislators are proposing a set of requirements to monitor small business lending, similar to the CFPB, which would include the establishment of a central depository of data and procedures for assessing the credibility of reports. There was a hearing on the bill today. Read more Ruderman Pleads Guilty in 1 Global Capital Case The former CEO at the center of the old 1 Global case finally pleads out. Read more Maxim Commercial Capital Doubled Fundings in Q3 2023 Maxim Commercial Capital announced a 100% year-over-year increase in truck financings for the third quarter of 2023, as well as a surge in demand for second-lien mortgages to refinance MCA deals and to support working capital. They also provided lower down payments for truck owner-operators, ranging from better credit to subprime borrowers. Read more Thanks to Our Email Newsletter Sponsors Austin LLP SOS Capital Meridian Leads South End Capital TBF Financial Central Diligence Group IOU Financial The Smarter Merchant Balboa Capital deBanked CONNECT Miami Pearl Capital Accord Business Funding Merchant Financing Leads Smart Business Funding Backd Found this email in your junk folder? Make sure to specifically whitelist both sean@debanked.news and funded@debanked.deals :-)