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Cumulative Covid EIDL Chargeoffs Now Exceed $70 Billion
Nov 19, 2024 · The latest data from the SBA is in. It charged off $18.7B in Covid EIDL loans in FY 2024. That was down from $52B charged-off in FY 2023. The program still has an unpaid principal balance of $277B. PPP loans were still being written off in FY 2024 as well, coming in $2.5B charged-off vs […]
eBay: ‘We’ve Already Done $40M in MCAs’ | deBanked
Nov 3, 2024 · eBay is coming in hot to the small business financing game. The company reported that it had connected merchants with $100M in funding YTD, over $40M of it being “business cash advances” through Liberis alone. Liberis is a UK-based company that expanded into North America 4 years ago. It secured $112M in debt funding last […]
PayPal is Back to Growing its Merchant Lending Program
Oct 29, 2024 · A fter taking drastic action over the last year to rein in surging SMB lending charge-offs, PayPal believes it has corrected the issue. “We have now fully lapped the actions taken last year to tighten credit underwriting and reduce on balance sheet risk,” said PayPal CFO Jamie Miller on the Q3 earnings call.
Info | deBanked
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Legal Complexities in the Revenue-Based Financing Industry: An …
Jan 6, 2025 · Jeffrey S. Paige is the General Counsel of CFG Merchant Solutions. Visit: https://cfgmerchantsolutions.com Navigating the intricate legal landscape of the revenue-based financing industry has become increasingly complex, with recent court cases providing profound insights into the sector’s regulatory dynamics. Amidst legislative shifts, litigation between funders and merchants, and public ...
Lightspeed: ‘MCAs continue to be popular’ | deBanked
Dec 10, 2024 · “Lightspeed Capital revenue grew to $9.3 million from $4.2 million in Q2 of last year, up 121% year over year as the program continues to be popular with our customers,”” said Lightspeed CFO Asha Bakshani. “Lightspeed Capital offers fast access to capital and automatic repayment through Lightspeed Payments.” “Overall, Lightspeed generated $277M in …
See You in Las Vegas | deBanked
Sep 18, 2024 · W e’ll be in Las Vegas for the inaugural B2B Finance Expo (a deBanked / SBFA collaboration). Tickets are just about sold out so if you haven’t bought one already, check the site to see if registration is still active.It will turn off automatically. Here’s what you need to know: Sept 22, Wynn, Las Vegas, 7-10pm: B2B Finance Expo Poker Tournament ...
CFPB Rule Would Likely Impact Sale of Business Loan Applicant Data
Dec 3, 2024 · A proposed rule by the CFPB aims to “Stop Data Brokers from Selling Sensitive Personal Data to Scammers, Stalkers, and Spies” by limiting “the sale of personal identifiers like Social Security Numbers and phone numbers collected by certain companies and make sure that people’s financial data such as income is only shared for legitimate purposes, […]
Walmart Now a Direct Funder in the Merchant Cash Advance …
Sep 15, 2024 · Ready to enjoy easy access to cash advance funds and flexible financing options? Fuel your growth on Walmart.com with our suite of options. – Walmart.com Walmart, which made headlines recently with third party MCA funders Parafin and Payoneer, is now funding MCAs directly as well.The new programs, known as Capital by Walmart and Capital for WFS (Walmart Fulfillment Services), were recently ...