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| THE LATEST | |||
Wells Fargo-supported Fund Aims to Refinance MCAsSixty-one percent of all deals funded by Founders First Capital Partners went toward refinancing merchant cash advances. That's intentional, according to the company, which just announced a capital raise of $19 million for one of its small business financing funds. Investors in the fund include… Read more → | |||
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True Food Kitchen Had $2.2M MCA Balance With Parafin Before BankruptcyFRC Balance, LLC, which owns the True Food Kitchen restaurant chain, filed for bankruptcy this week. According to the company, True Food Kitchen has closed 12 restaurants, whose final day of service was Sunday, October 4. The company's remaining 34 restaurants across 14 states are open and serving… Read more → | |||
Eighty Percent of Bluevine's Customer Service Inquiries Are Resolved By AI AgentsOne striking detail emerged from Valley Bank’s acquisition of Bluevine: AI agents resolve 80% of inquiries to Bluevine’s Customer Care Center. Many companies have touted their use of AI. For Bluevine, it also supports a key customer acquisition strategy: bundling business software into its… Read more → | |||
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Parafin Funded Over $3 Billion to Merchants in Five YearsOne of the key details revealed in the Stripe acquisition of Parafin is that Parafin originated $3 billion in funding since the company first started originating in 2021. Parafin supplied the financing infrastructure for platforms such as: DoorDash, Amazon, Gusto, SpotOn, Fullsteam, Jobber, and… Read more → | |||
Idea Financial Closed on Their Inaugural $100M Asset-Backed SecuritizationPictured from left to right: Chief Risk Officer, Erich Wust; Chief Financial Officer, Santiago Rubio; Chief Executive Officer, Justin Leto; President, Larry Bassuk; Chief Technology Officer, Alex Klimantov. Idea Financial just closed its inaugural $100 million securitization. The technology-enabled… Read more → | |||
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Valley Bank CEO Interviewed on CNBC About Bluevine DealFollowing the Bluevine acquisition announcement, Valley Bank CEO Ira Robbins was a guest on CNBC where he was asked about the deal. Watch below: Read more → | |||
5G Funding and its Owner Sued By SEC Over "MCA" Business5G Funding represented that it had a profitable MCA business. But according to a lawsuit filed against the company and its CEO by the SEC, that was far from accurate. "The Portfolio was never profitable," the lawsuit says. "5G Funding collected the full amount due on only about 30 of the 184… Read more → | |||
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Bluevine CEO on Being Acquired by a Bank: "You're seeing a lot of fintechs becoming banks right now."Valley National Bancorp is acquiring Bluevine for $340M in a 75% cash, 25% stock transaction. During a company conference call discussing the announcement, Valley CFO Travis Lan said that "the transaction does not require traditional bank regulatory or shareholder approval and is expected to close… Read more → | |||
An AI Agent Bought a Ticket to B2B Finance ExpoWell...uh... it happened. An AI agent bought a ticket all by itself to the B2B Finance Expo in Las Vegas next month in October. The agent was Meta's Muse. And the prompt was: "can u buy me a broker ticket to b2b finance expo in vegas in october and just do all the work? i don't want to deal with… Read more → | |||
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How to Pay Off an MCA With an SBA Under The New Rules Effective Oct 1The SBA has provided new guidance on its approach toward refinancing merchant cash advances: if you convert one to a term loan, you'll have to wait a very long time to refinance it with an SBA. According to the most recent Standard Operating Procedures that go into effect on October 1, "Sales-Based… Read more → | |||
Is Factoring Dying?Commercial Factor, the International Factoring Association's official quarterly magazine, just published an op-ed by the president of a California-based business financing firm, Greg Salomon. He titled the article, Is Factoring Dying? Salomon was an IFA board member from 2021 - 2024. While the… Read more → | |||
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Easify Acquired by Israeli Technology Company Tzomtech in Transformative Expansion into Merchant Cash Advance TechnologyAllan Farago Named Chief Executive Officer as Founder Adam Schwartz Steps down; Acquisition Launches Ambitious Strategy to Build a Comprehensive Technology Platform for the MCA Industry NEW YORK, NY — SEPTEMBER 18, 2026 — Easify, a fintech technology platform serving the merchant cash advance… Read more → | |||
NYC Touts its Revenue-Based Loan Program"Traditional loans don't work for all businesses, especially those businesses whose revenues change with the seasons," said Kenny Minaya, Commissioner of the New York City Department of Small Business Services. "That's why the NYC Future Fund offers loans starting at $25,000 with lower interest… Read more → | |||
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