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Maxim Commercial Capital Reports 25% Growth in 2024
LOS ANGELES, CALIF. (Jan. 21, 2025) – Maxim Commercial Capital (“Maxim”) announced impressive growth during 2024, continuing a multi-year trend. The hard asset secured lender reported a 25% increase in funded deals during the year as compared to 2023. Maxim is a national provider of loans and leases from $10,000 to $3 million collateralized by class 6 and 8 trucks, trailers, heavy equipment, and real estate.
“Our team stepped up to fill an increasing capital void for small businesses in 2024,” noted Michael Kianmahd, Maxim’s CEO. “Our consistent delivery and flexible terms have earned Maxim a strong reputation over the past 16 years among our customers and referral partners.”
Founded during the 2008 financial crisis, the privately-owned lender supports the needs of small and mid-sized businesses, including startups and those with challenged credit, during all types of economic landscapes. Keys to Maxim’s success include its dedication to customer success, providing value to its referral network of equipment vendors and finance brokers, and providing excellent customer service through all cycles and markets.
Class 8 truck financings during the year comprised loans and leases for experienced and startup owner operators in 41 states across the U.S. New borrowers included: an experienced owner operator with challenged credit who purchased a 2019 Kenworth T680 with 539K miles for $38,135 with 22% down and the help of a co-applicant; a startup owner operator with a limited credit history and 642 FICO who purchased a 2019 Kenworth T680 with 472K miles for $39,248 with 25% down; and, a startup owner operator with bad credit who purchased a 2020 Peterbilt 579 with 424K miles for $55,047 with 27% down.
Notable heavy equipment financings during the year included 100% purchase financing for a small car hauling business to buy a 2020 Freightliner M2 4-Car Carrier for $105,000. Maxim secured a second lien on the borrowers’ home as additional collateral in lieu of a down payment, helping the company preserve cash. A startup entrepreneur purchased a 2015 Freightliner 114SD, his first dump truck, for 36% down on the $109,000 invoice; and a subcontractor with 35 years of experience replaced an older compact track loader by leasing a 2023 New Holland C337 priced at $83,760 from Maxim.
Maxim also provided essential working capital for small businesses through structured real estate-secured, cash-out financings. New borrowers funded in 2024 include the owner of a virtual platform offering on-demand exercise and meditation classes who borrowed $200,000 in growth capital secured by a second lien position on her home; and, experienced restaurateurs in New York City who borrowed $410,000, secured by a 1st lien against a family residence, to pay off MCA debt held by five lenders, make property improvements, and expand the business’s catering services.
Maxim continues to expand and improve its infrastructure to support its growth. The company currently is seeking to hire an accounting manager and senior accountant. Please visit https://www.maximcc.com/our-company/careers/ for job descriptions and to apply.
About Maxim Commercial Capital
Maxim Commercial Capital helps small and mid-sized business owners nationwide by providing loans and leases (“financing”) from $10,000 to $3 million secured by trucks, trailers, heavy equipment, and real estate. It funds equipment purchase financings and leases, working capital, and debt consolidations. Maxim’s more creative financing structures leverage equity in real estate and owned heavy equipment to facilitate growth and preserve customers’ cash. As a leading provider of transportation equipment financing, Maxim supports startup and experienced owner-operators and non-CDL small fleet owners by funding loans and leases for class 8 and class 6 trucks, trailers, and reefers. Learn more at www.maximcc.com or by calling 877-776-2946.
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View PostSeventy Five Percent of Small Businesses Expect to Do Better in the Coming Year
2025 is looking up. That’s one takeaway from the recent State of Small Business Report produced by IOU Financial. More than 75% of small business owners that responded to a survey said that they expected to do better in the coming year, with 42% expecting to do much better. Meanwhile, more than three-fourths of those surveyed plan to invest in their business within the next six months.
Still, cost of goods and interest rates ranked among the highest concerns. Eighty two percent said that they are very or somewhat concerned about cost of goods and seventy seven percent said the same about interest rates.
To read the full report, click here.
View PostA Glimpse at Simply Funding
In around 2018 Jacob Kleinberger began calling merchants for a well known small business finance brokerage—a job he not only enjoyed but one that sparked his curiosity. “I always wanted to understand what my funders were doing,” Kleinberger says. He frequently asked questions to learn how decisions were being made across the board.
Though he worked closely with funders, being on the sales side didn’t give him the full picture. That changed in 2021 when an opportunity arose to join Simply Funding, a direct funder, as a partner. Today, he serves as Head of Operations.Transitioning from broker to funder was an eye-opener, leading Kleinberger to half-jokingly call the funders he used to work with to apologize for the challenges he had unwittingly created. Despite the learning curve, Kleinberger hit the ground running. Simply Funding, founded in 2017 by Bernard Mittelman, was a relatively small operation when he joined, but his mission was to help it grow. “We more than doubled the following year in funding and more than doubled the year after that,” Kleinberger says, reflecting the impact he’s been able to have with the team, which he’s said has been crucial to the success.
“We’re all a team, all here to show off each other’s strong points,” he says. For instance, the company already had a really good core foundation and underwriter in place when he got there.
The company describes itself as an A/B paper shop, with the majority of its revenue-based financing deals involving weekly payments, though they do daily payments as well. They also offer merchant processing splits.
Now a 28-person company, Simply Funding was originally located in Manhattan’s financial district but has since relocated to Jersey City. Kleinberger recalls the transition vividly, flying straight from the deBanked CONNECT Miami conference in 2023 to the new office to assemble all the furniture—an ordeal that lasted nearly 24 hours straight. One benefit of the move, he says, is access to a large talent pool in the area. But of course, it had to be accessible for the current team.
“A very big part [of the decision] was I had really good staff, and how would my staff come to work?” he says, since they make the whole operation hum. As a New York native from north of the city, Kleinberger is a commuter himself. The office now is just across the street from the PATH train station on the Hudson River. One can see the Simply team in person in the corporate high-rise there if they drop by.
When asked about the importance of security at Simply, Kleinberger is unequivocal: “It’s the most important.” The company takes no chances with data access, even to the extent that Kleinberger himself refuses to store work-related information on a laptop. He also emphasizes the need for clear, unambiguous rules in business operations to ensure everyone understands expectations and outcomes.
The company has no inside sales force, so Kleinberger gets a thrill when an ISO seeks his help with merchant communication—it reminds him of his early days. However, he remains acutely aware that, since it’s the company’s funds on the line, transparency and directness with customers are non-negotiable. From his perspective, some brokers in the industry walk a fine ethical line, and he and the Simply crew are determined to ensure things are done the right way.
“I do feel like there needs to be something to help make brokers accountable,” he says. Despite the challenges, Kleinberger remains optimistic about the future and is excited about what lies ahead as Simply Funding continues to grow.
“I think 2025 is going to be a sick year,” he says.
View PostCloudsquare Lend 3.12: Enhancing Efficiency and Flexibility for Lenders
Cloudsquare, the leading end-to-end lending platform powered by Salesforce, is proud to announce the latest upgrades to its innovative loan management software, Cloudsquare Lend. The 3.12 release introduces a suite of new features and refinements designed to address lenders’ growing needs while reinforcing the platform’s reputation as a reliable, scalable, and customizable solution.
Key Highlights of Cloudsquare Lend 3.12
- Sole Proprietor Support: Expanded Federal Tax ID capabilities now include Social Security Numbers (SSNs), allowing lenders to accommodate sole proprietors and small businesses better.
- Holiday Reserve for MCA Agreements: Streamline daily payment management around banking holidays with features that allow adjustments tailored to lender practices.
- Approval Gross Margin Calculation: Automatically calculate lender profitability, factoring in referral source commissions for actionable insights.
- Field History Tracking: Improve compliance and transparency with automatic tracking of financial data changes, such as ACH updates and bank account modifications.
Servicing Enhancements
The update also includes improvements to servicing operations:
- Addressed bugs affecting post-holiday payments for weekly and monthly deals, ACH item updates, and balance calculations.
- Ensured smoother processing and more accurate financial data management.
Bug Fixes for Improved Reliability
This release resolves system bugs across origination, servicing, and syndication, ensuring greater operational reliability. Key fixes include:
- Calculation issues
- ACH item handling
- Repayment balance accuracy
“Our goal with every update is to listen to our customers and deliver practical solutions that make their operations more efficient,” said Jeffrey Morgenstein, CEO of Cloudsquare.
For more information about the Lend 3.12 Release or to schedule a demo, please visit 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 clients 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
Cloudsquare Broker MCA CRM now Integrated with Bitty Advance for API Submissions
Los Angeles, CA – January 13, 2025 – Cloudsquare, the leading end-to-end lending platform powered by Salesforce, is excited to introduce the latest Cloudsquare Broker Lender API Integration, now with Bitty Advance—a trusted provider of fast business funding solutions. This integration transforms how MCA brokers deliver faster submissions, improve accuracy, and elevate customer satisfaction.
Cloudsquare Broker is the top CRM for MCA brokers, built to simplify and optimize lending workflows. With the addition of Bitty Advance, brokers can leverage advanced tools to automate applications, streamline operations, and close deals more efficiently.
Key Features of the Cloudsquare Broker + Bitty Advance Integration
- API Submission: Automate application submissions through Bitty Advance’s API, eliminating manual entry and reducing errors.
- Bulk File Upload: Manage high volumes of submissions effortlessly with bulk document uploads, saving time and improving team efficiency.
- Offer Generation: Generate tailored funding offers for merchants instantly, leveraging Bitty Advance’s advanced capabilities.
- Instant Approval Offers: Provide qualified merchants with same-day approvals to boost customer satisfaction and increase closure rates.
Effortless Scaling for MCA Brokers
With the Cloudsquare Broker Lender API Integration, brokers can scale their operations effortlessly while staying ahead in the competitive MCA industry. Whether handling a single application or managing multiple deals, the Cloudsquare Broker platform ensures smooth workflows and dependable performance. For more information about the Bitty Advance Integration, please visit Cloudsquare
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 clients 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 PostRecent Developments at Mulligan Funding
Last month, Mulligan Funding announced the closing of a second asset-backed securitization (ABS) totaling $120M and expandable up to $500 million. Business has been great since.
According to a representative of Mulligan, “December was the best month we’ve ever had as a company, capping off our best year since inception. And a large measure of that success is owed to the extraordinary community of ISO partners that we work with – and the incredible relationships we’ve been able to develop with them.”
As part of that, Mulligan Funding has made some changes to continue its success, an explanation of which is quoted here:
View Post“We are continually looking for ways in which to improve our relationships and the level of service we’re able to offer them. And so, in order to continue to improve our level of service and improve the depth of our relationships with our partners, we decided to implement a restructure of our ISO Team and the way in which we manage our partner relationships.
We have established for the first time a regional segmentation of our ISO partners. This has allowed us to rationalize our ISO groupings, and to create smaller, more focused multi-person teams purely dedicated to the relationships in their particular region.
Each team will consist of people with different levels of seniority and very specific roles. Some will be dedicated purely to looking after the relationship at a strategic level; and others will be tasked with handling the transactional details of day-to-day operations.
This regional focus will allow these teams to develop much deeper relationships at all levels of the partner’s business, and to spend more time in front of these partners, developing a better understanding of their needs and wants – something we have historically found challenging, being on the West Coast.”
– Mulligan Funding
Fifty Percent of Equipment Finance “Originators” Earned More Than $200k Last Year, Survey Finds
Wheeler Business Consulting LLC released the results of its 9th annual equipment finance compensation and production survey to reveal how originators did last year. Fifty percent of all those surveyed earned more than $200,000 last year in compensation, with nearly half of that group earning more than $300,000. Twenty three precent of all those surveyed worked 100% on commission with no base compensation at all while 71% had a base salary and supplemented it with commissions and bonuses.
“The sample group was made up of 32% bank originators, 47% originators from independent finance and leasing companies, and 21% from syndication/broker companies,” Wheeler said. “The survey included 16% of originators with less than 5 years of experience, 15% of originators with 5 to 10 years of experience, and 69% with 10 years or more of experience.”
“The survey confirmed that the commercial equipment leasing and finance industry remains a lucrative opportunity for originators,” it added.
This survey is often broadcast in Leasing News.
Wheeler Business Consulting was founded by Scott Wheeler, CLFP.
View PostIdea Financial Secures $20 Million Corporate Term Loan from EverBank to Fuel Expansion in Small Business and Legal Lending
Miami, FL – January 8, 2026 — Idea Financial, a leading provider of flexible financing solutions for small businesses and legal professionals, today announced the successful closing of a $20 million corporate term loan with EverBank. This strategic relationship provides Idea Financial with additional capital to accelerate growth in its core small business lending and legal financing divisions, enabling the company to serve more entrepreneurs and law firms nationwide.
The funding comes at a pivotal time for Idea Financial, which has already surpassed $1 billion in total funding originated since its inception and continues to expand its offerings, including business lines of credit up to $350,000 and specialized litigation financing through its LevelEsq platform. The new term loan will support increased lending capacity, product innovation, and operational scaling to meet rising demand from established small businesses and plaintiff law firms..
“This relationship with EverBank marks an exciting milestone in our journey to empower Main Street businesses and legal professionals with accessible, transparent financing,” said Justin Leto, Co-Founder and CEO of Idea Financial. “EverBank’s confidence in our vision validates our track record of responsible growth and innovation in underserved markets. With this support, we’re poised to help even more businesses charge forward and achieve their goal added, “We’ve built Idea Financial on the principle that small businesses deserve better options than slow traditional banks or expensive alternatives. This $20 million facility strengthens our balance sheet and allows us to expand our impact, particularly in supporting law firms with case financing and small enterprises with working capital. EverBank shares our commitment to performance-driven solutions, making them an ideal partner.”
Larry Bassuk, Co-Founder and President of Idea Financial, added, “We’ve built Idea Financial on the principle that small businesses deserve better options than slow traditional banks or expensive alternatives. This $20 million facility strengthens our balance sheet and allows us to expand our impact, particularly in supporting law firms with case financing and small enterprises with working capital. EverBank shares our commitment to performance-driven solutions, making them an ideal partner.”
Santiago Rubio, Chief Financial Officer of Idea Financial, commented, “This term loan enhances our financial flexibility and positions us for sustainable expansion. EverBank’s expertise in specialty lender finance aligns perfectly with our model, and we’re grateful for their support as we continue to deliver high-value products with competitive rates and fast approvals.”
“EverBank is pleased to support Idea Financial as it continues expansion of its platform and growth of its small business lending loan portfolio. This transaction underscores our focus on providing bespoke lending solutions that meet the distinct needs of our clients. We look forward to continuing to build our strategic relationship with Idea Financial in the future” – Jonathan Lustig, Director – Lender Finance at EverBank.
EverBank, a nationwide specialty bank known for its asset-backed and lender finance solutions, provides tailored financing to non-bank lenders like Idea Financial. This collaboration underscores EverBank’s focus on supporting innovative fintechs that drive economic growth.
For more information about Idea Financial’s business lines of credit, term loans, or legal financing solutions, visit www.ideafinancial.com.
About Idea Financial
Idea Financial is a digital lending platform dedicated to empowering businesses and legal professionals with fast, flexible funding. Founded in 2017 by attorneys-turned-entrepreneurs Justin Leto and Larry Bassuk, the company offers revolving lines of credit, term loans, and litigation financing designed for growth without unnecessary hurdles.
About EverBank – EverBank, N.A.
(EverBank) is a nationwide specialty bank providing high-value products and services to consumer and commercial clients coast-to-coast. As a pioneer in online banking, we offer convenient digital access for clients 24/7, in addition to phone banking services and a network of financial centers across California, Florida and New York. EverBank’s commitment is to deliver to our clients high-performing, high-yield solutions backed by exceptional service, always giving them the advantage they expect, to make the most of their money. Visit everbank.com or connect and interact with us on Facebook, Instagram, LinkedIn or X. EverBank is a Member FDIC.
Media Contact
Alondra Peña
Senior Marketing Manager
marketing@ideafinancial.com
