Sorry ... Page Not Found
I'm sorry, but the page you're looking for could not be found. Below are our most recent articles. Perhaps you'll find what you're looking for there.
deBanked CONNECT MIAMI – Agenda (Check-in Time 11AM)
Check-in starts at 11am for regular attendees.
Go to the Arrivals Entrance at the Fontainebleau and walk to your left until you reach the event space. It’s not far.
All the food at the event is Kosher. Provided by Events by Executive Caterers.
Event ends at 5:30pm.
See the rest of the agenda here.
Court Leans Toward CFPB in MCA Section 1071 Lawsuit
A federal magistrate judge found that the CFPB did not overstep its authority when it subjected MCA transactions to the Small Business Data collection rule slated to go into effect this year. The lawsuit was filed a little over a year ago by the RBFC. The RBFC has the opportunity to file an objection within 14 days. For an analysis of the findings, you should consult with an attorney. It can be downloaded here.
This course of events is not related to the recent headwinds the CFPB is facing otherwise.
View PostUpstart: 91% of loans fully automated
AI-based online consumer lending company Upstart just wrapped up a strong year, generating a tiny $2.8M net loss on $219M in revenue. Upstart was known for AI in the fintech industry before AI became the buzzword it is now. Ninety-one percent of the company’s loans in 2024 were fully automated with no human involvement, and 93% of instant approvals converted to funded loans.
Notably, a significant amount of their loan volume is generated by direct mail.
“Whenever our models get better, we tend to get more volume from partners, DM — direct mail converts better so that we can actually increase the amount of direct mail we send,” said CEO David Girouard.
While the company halted its earlier plans to add small business loans to its product mix, it still estimates the size of the market in its quarterly presentations. And according to that it’s an $895 billion market annually.
Analysts on the call liked what they heard about Upstart’s 2024 performance.
“2024 was a year of rapid quarter by quarter improvement for Upstart, and the fourth quarter clearly took the cake,” said Girouard. “Considering the weak environment we faced at the beginning of the year, we couldn’t have asked for a stronger finish. In Q4, our business grew dramatically across all our product categories on a sequential basis, delivered Adjusted EBITDA at levels not seen since the first quarter of 2022, and came within a whisker of returning to GAAP profitability.”
View PostTaycor Financial Promotes Evan Sammon to Chief Operating Officer
ORANGE COUNTY, CA – 2/18/2025 – Taycor Financial, a leading provider of equipment financing and partner driven lending solutions, proudly announces the promotion of Evan Sammon to Chief Operating Officer (COO). This strategic appointment reflects the company’s commitment to operational excellence and continued growth.
“Evan’s leadership, passion, and innovative approach have been instrumental in our success,” said Michael Hong, CEO of Taycor Financial. “In his new role, I am confident that he will continue to propel our organization forward and set new benchmarks for operational excellence.”
Since joining Taycor, Evan has demonstrated exceptional leadership, operational insight, and a dedication to delivering superior service to clients and partners. As COO, he will oversee company-wide operations, streamline processes, and enhance efficiencies to drive performance and scalability.
“I’m incredibly proud of what we’ve accomplished at Taycor, and honored to be a part of such a hard-working, innovative team. Our ability to identify vendor driven solutions is key to our sustained success. Optimizing our adaptable, partner focused processes is at the forefront of our mission and I’m excited for our continued evolution as a best-in-class finance provider.” As Taycor Financial continues to innovate and expand, Evan’s promotion underscores the company’s dedication to nurturing talent and fostering leadership from within.
For more information, visit taycor.com
View PostDedicated Financial GBC Welcomes Cory Svihla as Chief Revenue Officer
Dedicated Financial GBC is pleased to announce Cory Svihla as its new Chief Revenue Officer (CRO). In this role, Svihla will oversee the development and execution of revenue-generating strategies, focusing on aligning sales, marketing, and client success to drive sustainable growth and enhance client engagement.
Svihla brings to Dedicated a wealth of experience in strategic leadership and business development. Before joining Dedicated, he co-founded Intellex Forensics Advisory Services Inc., which played a pivotal role in shaping Svihla’s personal vision and leadership style. His entrepreneurial background and expertise in revenue growth strategy position him as a key leader that will advance Dedicated’s mission.
As Dedicated enters its next decade of delivering excellent services, Svihla will focus on expanding market reach, optimizing sales and marketing strategies, and identifying new opportunities for innovation and client engagement. His leadership has already had a positive impact at Dedicated, and he is poised further to strengthen the company’s position as a leader in the servicing industry.
“I am honored to join Dedicated Financial GBC and work alongside teammates committed to creating a meaningful impact,” said Svihla. “I look forward to driving growth, fostering strong relationships, and contributing to the company’s mission of changing the world through business.”
For more information about Dedicated Financial GBC and its leadership team, please visit https://www.dedicatedgbc.com/team/
View PostCloudsquare Announces Its New Integration with Rapid Finance
Los Angeles, CA – February 18, 2025 – Cloudsquare, the premier end-to-end lending platform powered by Salesforce, proudly announces its latest integration with Rapid Finance, a trusted leader in Merchant Cash Advance (MCA). This new collaboration is set to redefine how brokers and lenders operate, enabling them to process applications faster, streamline funding workflows, and enhance overall efficiency.
Bringing Speed and Efficiency to Brokers and Lenders
For brokers and lenders, efficiency and speed are essential to gaining recognition in the market. Delays in approvals, manual data entry errors, and complex submission processes can lead to lost opportunities. With Cloudsquare’s seamless Rapid Finance integration, these challenges have become a thing of the past.
Key Benefits of the Cloudsquare + Rapid Finance Integration
· Submit deals effortlessly via API – Say goodbye to manual submissions and data entry errors.
· Bulk File Uploads – Attach necessary documents directly in the CRM.
· Upload files with each submission – Attach the necessary documentation directly within the CRM.
· Generate tailored offers instantly – Present funding options quickly based on merchant eligibility.
· Provide Instant Approval decisions – Close deals faster and gain a competitive edge.
Why This Integration Matters
Cloudsquare has always been at the forefront of MCA technology, offering brokers and lenders an advanced, scalable CRM solution designed to automate, optimize, and grow operations. With Rapid Finance now part of its growing list of lender integrations, brokers can accelerate their workflows, reduce processing time, and increase funding success rates—all within a single, intuitive platform.
Seamless Implementation for Brokers and Lenders
New users can launch Cloudsquare Broker with the Rapid Finance integration effortlessly, ensuring quick adoption and a fast return on investment. Existing Cloudsquare customers can easily add Rapid Finance’s API through a simple license upgrade, with expert onboarding and support to ensure a smooth transition.
About Cloudsquare
Cloudsquare is the leading end-to-end lending platform, uniquely powered by Salesforce to deliver unparalleled flexibility and innovation for lenders and brokers. With a commitment to optimizing lending processes through cutting-edge technology, Cloudsquare provides robust, scalable solutions that empower merchants to achieve greater efficiency and growth. Celebrated by industry leaders, Cloudsquare has earned a place on the Inc. 5000 list as one of America’s fastest-growing companies and is consistently rated a top service provider on platforms like Salesforce AppExchange, G2, Clutch, and Manifest.
For media inquiries, please contact:
Cloudsquare Marketing Email: marketing@cloudsquare.io
View PostIndustry Event Schedule at a Glance
Here’s what in store for 2025:
2/20/25: deBanked CONNECT MIAMI – Miami Beach, FL
5/19/25: Broker Fair – New York, NY
10/28 & 10/29/25: B2B Finance Expo – Las Vegas, NV
View PostWhat to Look Out For in Back-up Servicing
“There is a misconception that back-up servicing is merely an Insurance Policy,” states Larry Chiavaro, Chairman of Paramount Servicing Group, in a recently released White Paper on the subject. “That is not the case in today’s rapidly changing markets. Fluctuating interest rates, the creation of many new asset classes, and emerging technology have created many new opportunities for all.”
The 12-page paper on back-up servicing dispels many myths while educating lenders about what to look out for when choosing a servicer. It is clear that the selection process should not be an afterthought and can be very consequential for one’s business. Chiavaro breaks it down well. You can download the paper here.
View Post
