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SBA Small Business Lending Council Chosen Read more

House Bill Seeks More Time for Lenders to Comply with CFPB Small Business Lending Rule, Redefine Small Business
A revised bill introduced in the US House of Representatives, HR 8338, aims to extend compliance deadlines with the CFPB's Small Business Lending data collection rule by providing a 3-year preparation period from the rule's issue date and a 2-year safe harbor sans non-compliance penalties. Read more

Fake LOC Scam Results in Prison Sentence

An individual purporting to be a business funder has been sentenced to prison Read more

Parafin Raises $100M Series C, Gets Whopping $750M Valuation

Industry latecomer Parafin is now among the biggest funding service providers in the US Read more

Lightspeed: 'MCAs continue to be popular'

Lightspeed Capital has seen a 121% YoY growth in revenue, increasing to $9.3 million from $4.2 million in Q2 last year, driven by continued popularity among its customers. While the entire revenue of Lightspeed for the FY Q2 2025 stood at $277M, Lightspeed Capital's contribution was less than 3.5%, but significant enough to offset a portion of costs due to its high gross margin of over 95%. Read more

SoFi: 'We plan to expand on our SMB customer business'

SoFi CEO Anthony Noto said that the lending platform's biggest initiative of 2024 was the embedding of their application process into the SoFi app, facilitating loan requests for small and medium businesses. Noto noted that while the platform is currently monetizing through the process, SoFi plans to expand its services and potentially offer direct lending in the future. Read more