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Are you someone who is always seeking to improve their value in the market? Are you a direct funder that is looking for better ways to train their ISO Reps or enhance their knowledge but you don't have the time? Are you looking for a job in the alternative business funding space commonly referred to as Merchant Cash Advance or Revenue-Based Financing? Are you an ISO Rep who wants to grow and lead a department as the Chief Revenue Officer? You're in luck, I have just the training program that is perfect for you and many others! Launching this Wednesday, Feb 19th is my latest course designed to transform yourself or the way you train your ISO Reps and solve the main problems that I have noticed in my 11 years in the alternative funding space, which is under the umbrella of commercial finance (as many states have legally deemed). Key Problems? Having to continuously train new reps each time you onboard one Not knowing how to have an effective ISO rep, manager, or team Ethics aren’t reinforced or taught Analytics/KPIs aren't being taught to the ISO manager or the brokers. Sometimes they aren’t being tracked at all New people don’t know what an ISO manager is or if they want to become one to get into the industry ISO reps don’t understand how to move up the ranks, i.e. the career path Brokers try to corrupt iso managers No online presence to speak of for ISO Rep. Don't have a basic understanding of the industry at a higher level Not cross-trained in underwriting Watch the Video for Preview of course What's in this course? All of the information you need to understand the CRO career path, find out what an ISO Rep is and does, what skills are needed to excel, job prospects, market size, relationship management, performance tracking of ISOs, Underwriting and deal analysis, leadership, and much more. See all Modules Why did I create it? I noticed the issues a very long time ago but have finally put a curriculum together that I think fits what people are seeking. I'm always looking for ways for people or companies to improve themselves and I've set out to create a suite of courses for all of commercial finance when it's all said and done. This isn't some get-rich scheme or a course launch hit-and-run. I've been in this space since 2014, have created 2 other courses, and I take pride in providing valuable information and education. I believe this industry is maturing given many factors so the more formalization of all aspects the better. Details 25 Steps 4 Quizzes 4.5 hours of video Access to the course for 8 weeks Group plans available 1 Certificate of Completion Have more than 1 person you want to get the course for? We will have a bundle available in our Store so please check there on Wednesday. Join the waitlist If you join our waitlist we will add 50 bonus points to your rewards. Click the button to join then when we release the course you will get an email to complete the enrollment. The more points you earn the more discounts and rewards you will be eligible for. Check your balance in your member account->My Rewards. Something I live by is continuous learning. That's why I am building a suite of courses, so you and others can continue to learn. I look forward to seeing you in the course and hearing your feedback.

JPMorgan is declining to provide regulators with data on its private credit lending operations, according to a report by PYMNTS on Feb 16th. This decision is drawing attention from industry insiders and watchdogs alike. 🔎 What’s the Issue? Regulators want more insight into private credit markets, which have grown rapidly in recent years. They argue that without access to key data, they can’t properly assess financial risks that might impact the broader economy. JPMorgan, however, sees things differently. The bank believes that sharing this data could: ✅ Expose proprietary strategies to competitors. ✅ Give regulators too much influence over market dynamics. ✅ Lead to stricter regulations that could slow down lending. 💰 Why Does This Matter? Private credit lending has surged, estimated as a $2 trillion industry, offering businesses alternative financing outside traditional banks. However, without transparency, regulators worry about hidden risks—especially in times of economic uncertainty. JPMorgan’s resistance could set a precedent for other major financial institutions. If they follow suit, regulators may face an uphill battle in trying to bring more oversight to private credit markets. ⚖️ What’s Next? 🔹 Will regulators escalate their efforts to force disclosures? 🔹 Could this decision impact how fintech lenders operate? 🔹 How will smaller lenders navigate an environment with less public data? As the situation unfolds, we’ll be watching closely to see how it shapes the future of private credit and business lending. Expect more debates over transparency, competition, and risk management.

In today's edition of interviews with industry members, we bring you Jacquelline Bogdanov of Thoro Corp. I've gotten to know Jacquelline over the last year and was impressed with her professionalism, service, and dedication to her clients so I wanted to interview her to help you learn more about her, Thoro Corp, and what her views are on the industry as it is now. Enjoy! Tell me who you are, where your office is based, and why are you in Finance.   My name is Jacquelline, Head of ISO Relations at Thoro Corp , based in Hallandale Beach, FL. My role revolves around managing partnerships and ensuring our partners experience seamless service. I’ve always been drawn to finance and have a natural knack for connecting with people so this position lets me blend my passion for financial solutions with meaningful daily interactions.  What were you doing before this? I have a bachelor’s degree in accounting and have spent my career in various roles within international finance companies across the US and Europe. Being surrounded by financial operations has always been a part of my professional journey. Tell me more about what your company does, the products you offer, and the guidelines Thoro Corp is a boutique funder that prioritizes transparency and open communication. We focus on building long-term relationships with our ISOs, and we differentiate ourselves by not having an in-house brokerage team. Our primary service is merchant cash advances, specifically tailored for merchants in the B-C paper category, with no industry restrictions. We offer funding up to $5 million, with terms up to 120 days or 24 weeks. Additionally, I’m excited to introduce Thoro Payments, our new service that enables clients to process credit card transactions through us. By using Thoro Payments, clients can take advantage of exclusive premium rates on merchant cash advances whenever they need additional capital. What should brokers know when working with you?   The most important thing brokers should know is that their files always remain theirs. We never compromise on this, which helps us build and maintain long-term relationships with our partners. And what do your days consist of? My day kicks off with a double espresso and a review of emails to ensure everything from the previous day has been taken care of. I spend much of my time communicating with partners, ensuring deals are processed swiftly and smoothly. I also manage our social media content, enhancing our online presence. What are your goals for this year? My main focus this year is on driving growth and reaching new milestones. We aim to further streamline our processes to ensure an even more efficient and seamless experience for our partners. By staying ahead of industry trends and continuously improving, we are committed to setting new standards in the merchant cash advance sector. Biggest challenges right now? Striking the right balance between the needs of ISOs, the market, and merchants. Adapting quickly to industry shifts might be challenging but is key to sustaining our high standards of professionalism and efficiency. What types of things keep you motivated? Seeing the progress and positive changes that come from the effort I put in every day. Now time for the lightning round: What's the most memorable deal in your career? Joining Thoro Corp ;) Do networking events help you? Absolutely, I always look forward to them! Do you use generative AI and if so which ones? No! Would you ride in a driverless car? I prefer driving the traditional way, behind the wheel myself. What is your favorite country you have visited? France If you could travel anywhere, where would it be? Asia Should there be laws for politicians prohibiting insider trading? Yes! Do you prefer Bitcoin or gold? USD Last question. Give me your thoughts on the state of the commercial finance industry, which is a large umbrella of lending products, and what if anything would you change? Strong regulation is essential to enhance the industry and foster a stable, reliable environment. Equally important is cleaning up the industry by eliminating those who engage in unethical practices. I think we can all agree that this is a necessary step for the industry's growth and integrity. What's the best way for folks to get a hold of you? Jacquelline Bogdanov Head of ISO Relations 305-528-5229 jacquelline@thorocorp.com Thoro Company Page on Funder Intel

Get ready for another fantastic opportunity to network with industry peers! This time, we partnered up with the Revenue Based Finance Coalition to host the networking reception after their  2nd Annual Golf Tournament  in Miami Beach at the Normandy Shores Golf Club. All are welcome, even if you do not play in the tournament. If you do want to play, then there is no time to waste to secure your spot. Get more information HERE . For the reception, here are some of the other details: Look forward to seeing you there!

Watch the video below to learn about the above titled article that Lechi (Richard) Zhang wrote in Forbes on Jan 27th that is a great dive into SMB Financing. Shane Mahabir Founder/President Funder Intel Drop your comments below!

Happy Sunday! Let’s take a moment to recharge our caffeine levels and dive into the week’s most compelling stories in business lending and fintech. Whether you're catching up from your cozy corner or preparing for the week ahead, we’ve got you covered with the highlights that matter most. Here are three standout stories you don’t want to miss. Phoenix Lender Services: A Game-Changer in SBA and USDA Lending The first big headline comes from the world SBA and USDA business lending. Industry heavyweights have joined forces to launch Phoenix Lender Services , a revolutionary platform designed to streamline SBA and USDA loan processes. This new venture aims to address pain points that lenders and borrowers alike have experienced—chief among them, the painfully slow application timelines and regulatory hurdles that often derail progress. Phoenix promises to be the all-in-one solution that simplifies underwriting, compliance, and servicing for these loans, allowing more businesses to access crucial capital with speed and efficiency. The timing couldn’t be better. With the post-pandemic business landscape evolving rapidly, small businesses need agile solutions to navigate economic challenges. Phoenix’s founding team brings decades of experience to the table, and their tech-forward approach might just redefine how SBA and USDA lending operate. The buzz is real—keep an eye on this one! Cannabis company Standard Wellness Secures $10M In an industry known for its unique financing challenges, Standard Wellness  has set a new benchmark. The cannabis company announced this week that it secured a $10 million credit facility at an enviable rate of 9.25% over 10 years, a major win in a sector where capital is often prohibitively expensive. The funds will be used to refinance existing debt and fuel expansion efforts. This move not only positions Standard Wellness very well in the competitive cannabis space but also sends a broader message about the sector’s maturation. With more states legalizing cannabis and federal conversations gaining momentum, this deal highlights how institutional lenders are beginning to recognize the industry's potential. For cannabis operators, this is a clear signal: the era of sky-high lending rates may be on its way out, replaced by more equitable terms for businesses with solid fundamentals. Par Funding: Partial Relief for Investors The saga of Par Funding , which annually did millions in small-business funding, took another dramatic turn this week. Investors in the defunct Philadelphia-based lender have started receiving partial refunds, marking a small win in a case riddled with fraud allegations and financial devastation. After raising $547 million from over 1,700 investors in what the SEC has dubbed a Ponzi scheme, Par Funding collapsed in 2020, leaving many to wonder if they’d ever see a dime of their money again. This week, about $110 million —nearly half of the $227 million in approved claims—has been distributed. The funds come from assets seized from Par’s founder, Joseph LaForte, and other insiders, including luxury homes, retail properties, and bank accounts. For victims like Joseph Brock, who invested $200,000 and has so far received $43,000 back, these payouts represent a bittersweet victory. Plans for a second round of refunds are already in motion, with the hope of raising total recoveries to around 70%. Closing Thoughts Here’s to another week of navigating the ever-evolving world of finance. As always, stay sharp, stay curious, and never stop asking questions. Until next time!

The Consumer Financial Protection Bureau (CFPB) has taken significant action against Block , the operator of the popular peer-to-peer payment app Cash App , ordering the company to pay $175 million for its failures in handling fraud and customer service issues. This enforcement action, announced on January 16, 2025, highlights the growing concerns surrounding digital payment platforms and their responsibilities to protect consumers. Key points of the CFPB's order include: Block must refund consumers $120 million for unauthorized transfers that were not properly investigated, refunds that were not issued, and accounts that were locked for extended periods. The company is required to pay a $55 million fine to the CFPB's victims relief fund. Cash App must establish 24-hour, live-person customer service to address user concerns more effectively. The company is mandated to fully investigate unauthorized transactions and provide timely refunds where appropriate. The CFPB's investigation revealed several troubling practices by Cash App: Inadequate Fraud Prevention and Customer Service Cash App's fraud prevention measures were found to be insufficient, leaving the platform vulnerable to criminal activity. For years, the company failed to provide live customer service agents, forcing users to rely on in-app support or mail correspondence, which often resulted in delayed or inadequate responses. Mishandling of Unauthorized Transactions The company allegedly violated the Electronic Fund Transfer Act by failing to properly investigate and resolve disputes regarding unauthorized transactions. In some cases, Cash App incorrectly directed customers to their banks for resolution, shirking its own legal responsibilities. Deceptive Practices Block was found to have engaged in deception by misrepresenting its protection against unauthorized transfers and the availability of customer support. Impact on Consumers The CFPB's action underscores the significant financial and security risks faced by consumers using digital payment platforms. Many Cash App users who experienced fraud or unauthorized transactions were left without proper recourse, bearing financial losses that should have been addressed by the company. This enforcement action serves as a wake-up call for the fintech industry, emphasizing the need for robust fraud prevention measures, effective customer service, and compliance with financial regulations. As digital payment platforms continue to grow in popularity, regulators are likely to increase scrutiny to ensure consumer protection. For Cash App users affected by these issues, the CFPB has stated that consumers do not need to take any immediate action to receive refunds. The bureau will oversee the distribution of redress to ensure affected users receive appropriate compensation.

Sometimes you overlook a problem because it has become a regular part of everyday business activity. Well, almost every day I see companies or individuals offering full-package loan files for sale via multiple different channels from people all across the world. Some of these packages have been stolen from the rightful owner and the others may be aged enough where they were sold following company policy. This problem is biggest in the MCA industry where there is always a chance a file a broker submitted to a direct funding company gets leaked from that office to be processed elsewhere. This is commonly known as backdooring a file. A person is essentially stealing the file to do with it what they want, sell it to someone else, or get it funded themselves. It happens so often now it is almost accepted as the cost of doing business. Business loan brokers still try their best to prevent this from happening but when it happens to them there is little they can do without hard evidence. Even then it could be a costly fight to get justice. So why aren't more people caught and prosecuted for stealing files? A few reasons why more people aren’t prosecuted to the fullest extent of the law are: The funder's process can’t determine the guilty party Funders don’t care enough They are a willing participant Security technology is not sufficient Lack of enforcement capabilities **Don’t want the public to know they caught someone at their company. THIS IS MAYBE THE TOP REASON PEOPLE AREN'T PROSECUTED. Many funders take the point of view that if I make this a public situation then I'm going to lose the trust of brokers and thus lose business. Not true, keep reading for my explanation. Why does it continue to happen Some of the reasons why backdooring continues to happen are the same as why it's not prosecuted more often but it might be as simple as it's money and people are greedy. I don’t think it's usually that people aren’t paid enough for their position given the value they bring although nothing is perfect. Some people may say it can be related to the cost of living being higher. So to pay for that cost people resort to illegal activity. Also, it's worth mentioning again that getting caught and the punishment for it don't scare enough people. What can we do about it? Many things can be done, here are some that are top of mind: One, we need to let funders know that it's better for everyone if you prosecute the guilty parties and make it known. I was a first-hand witness to a case where two employees were caught backdooring files at Greenbox Capital back in 2016-2017. Those two guys were led out by the cops which sent shockwaves through the company and a strong message through the industry as the word spread. No one in that office would dare do anything like that again knowing the consequences. As an ISO Manager at that time, I didn’t see any negative effects on deal flow. In fact, I talked to my brokers who said ‘at least they are doing something about it because there are employees at every company that can take a turn down this path.’ Basically, it's better to catch them, let it be known, and then because of the heightened attention in that company few people would attempt the same thing. Another thing to do is implement more advanced cybersecurity measures in the workflow. The funders who have been doing this have few problems. There are many options for software that tracks a person's work on their computer all the way down to the keystroke. Emails need to be monitored. Cell phones should be put away at their desk. For remote workers using a company laptop, there is software that will limit access to certain information and send alerts on other actions.  Then also cameras in the workplace. Is an individual frequently leaving their desk beyond the norm? Have talks with them and see what's going on, it may be totally innocent but you have to find out. Then implement secret shoppers or other hidden data in files if you suspect you have a problem. The idea alone will scare off people from attempting to backdoor files. Always willing funders for files with shady origination Unfortunately, there will always be people and companies that either look the other way or fully endorse doing whatever they want with files that they get their hands on. I believe that will continue to be the case for the foreseeable future until or unless law enforcement steps in or lawsuits are filed against the guilty parties and they have to pay a substantial price. However, the government doesn't get involved much on the enforcement side. They are making new laws and regulations for commercial finance but these new laws do not mention stealing files that I am aware of. The only way I know of people getting prosecuted is when the owner of the funding company takes it upon themselves to call the authorities. What next? If funders are unwilling to prosecute people, then this activity will continue. Brokers will just look out for themselves as much as possible and when things go wrong they chalk it up to the cost of doing business.  That shouldn't be the case. We need more leaders who want to change this ‘acceptance of backdooring files.’ The merchants deserve better. Brokers deserve better. Who is going to step up? It's a new year, and time to take action against stolen files.

Klarna, the Swedish fintech giant, has announced a significant global payment deal with Stripe, marking a strategic move ahead of its anticipated U.S. initial public offering (IPO). This partnership expansion is set to broaden Klarna's reach and potentially boost its valuation as it prepares to go public. Key Points of the Klarna-Stripe Partnership Expanded Reach: Klarna's buy now, pay later (BNPL) service will now be available to merchants using Stripe's payment tools across 26 countries. Previous Collaboration: This deal builds on a partnership initiated in 2021, which was limited to U.S. merchants. Revenue Sharing: Stripe will receive a portion of the transaction fees Klarna earns from retailers. IPO Preparation: The partnership comes at a crucial time as Klarna gears up for its U.S. IPO, with the company having confidentially filed for listing in November 2024. Implications for Klarna's Growth The collaboration with Stripe is expected to impact Klarna's growth trajectory significantly: Merchant Acquisition: Klarna reported adding 100,000 new merchants in 2024, with an increasing growth rate since the initial Stripe integration in October. Valuation Fluctuations: Klarna's valuation has seen significant changes, peaking at $46 billion in 2021 before dropping to $6.7 billion in 2022. The current IPO could potentially value the company at up to $20 billion. BNPL Market Dynamics The partnership highlights the continued popularity of BNPL services: Consumer Appeal: BNPL options allow consumers to spread the cost of purchases through installments, making it an attractive payment method for many shoppers. Retailer Benefits: Klarna's research indicates that businesses offering their BNPL service at checkout saw a 30% average increase in conversion rates and a 41% increase in average order value. Looking Ahead As Klarna prepares for its IPO, expected in the first or second quarter of 2025, the company is taking a measured approach: Cautious Strategy: CEO Sebastian Siemiatkowski emphasizes a pragmatic approach, waiting for favorable market conditions before proceeding with the IPO. Financial Backing: Klarna is working with Goldman Sachs, Morgan Stanley, and JPMorgan to gauge investor interest. The Klarna-Stripe partnership represents a significant development in the fintech sector. As Klarna expands its global footprint through this collaboration, it sets the stage for what could be one of the largest fintech IPOs of 2025.

Credit: Reuters The U.S. Supreme Court is deliberating on a potential nationwide ban of TikTok, a decision that could disrupt how many businesses market themselves. The government’s primary concern lies in the platform's Chinese ownership through ByteDance, raising fears about data sharing with Chinese authorities. TikTok has challenged these claims, arguing that a ban would infringe upon First Amendment rights. For the business lending industry, TikTok has become a key platform for marketing, particularly in reaching younger, tech-savvy audiences. Its algorithm-driven discovery process enables businesses to showcase their expertise and engage potential clients through creative and targeted video content. If TikTok is banned, businesses may lose this valuable tool, forcing them to pivot to alternative marketing strategies. The Supreme Court's decision, expected before the law's effective date of January 19, 2025, will determine whether TikTok must be sold to a U.S. company to continue operating. In the interim, businesses in the lending space must consider diversifying their marketing efforts. Platforms such as Instagram Reels, YouTube Shorts, and even LinkedIn offer opportunities for reaching audiences through short-form videos and other engaging content formats. Additionally, reliance on owned media channels like company blogs, email marketing, and search engine optimization (SEO) can stabilize outreach efforts. Unlike social media platforms, owned media allows businesses to maintain control over their audience and messaging. The potential TikTok ban is also a stark reminder of the importance of staying informed about regulatory changes. Adapting quickly to shifts in the marketing landscape will be critical for businesses to remain competitive and connected to their target audiences. While the future of TikTok in the U.S. remains uncertain, businesses in the lending industry should take proactive steps to diversify their digital presence. By doing so, they can mitigate risks and ensure their marketing efforts continue to deliver results, regardless of the Supreme Court's decision.

According to a recent PYMNTS  article published on January 5th, the financial technology (FinTech) sector has been significantly increasing its marketing budgets, with advertising spend rising by more than 45% over the past three years. This increase in ad spending reflects a broader strategy by FinTech companies to expand their customer base, especially in larger cities, as they prepare for potential acquisitions or initial public offerings (IPOs). As FinTech services gain traction among a diverse customer base, companies like CashApp, Klarna, PayPal, and Venmo have been stepping up their advertising efforts. Outfront Media, an advertising company that works with these and other prominent FinTechs, noted this sharp rise in spending. Jeff Titterton, Chief Marketing Officer at Stripe, pointed out that FinTech companies, once primarily aligned with digital-native businesses, are now reaching out to a wider market. Stripe, for instance, entered brand advertising in 2024 as part of its strategy to target this growing market. And keep in mind Stripe has Stripe Capital which offers business loans among their products. The more advertising they do the more business owners get access to their loan product. Brex, a corporate card and expense management company, exemplifies this shift. Scott Holden, Brex’s CMO, explained that prior to his tenure in 2023, the company primarily targeted startups in its advertising. However, Holden introduced messaging aimed at businesses of all sizes, positioning Brex as a unified spend platform, thus broadening their reach. Despite their growing popularity, FinTech companies are also encountering increased regulatory scrutiny, especially regarding their partnerships with banks and issues such as hidden fees. The high-profile collapse of Synapse Financial Technologies last year brought these concerns to the forefront, affecting its clients. Nevertheless, PYMNTS  reports that there is hope that regulatory pressures may ease under the new administration, which could alleviate some of the challenges faced by the industry. As FinTechs continue to expand their reach and diversify their services, the increased investment in marketing reflects their ambition to capture new customers and strengthen their positions within the competitive financial sector. The evolving landscape will undoubtedly shape how these companies continue to engage with consumers and adapt to regulatory shifts.

Thank you for reading our articles all year! At the end of each year, we review the most viewed articles. What do they have in common? After looking at them you will undoubtedly see what you all like to read, financial crime-related stories. So in 2025, we will continue to bring you coverage of crimes related to business lending, fintech, and overall commercial finance. Let's get to it. In ascending order to most views: 10)   Latest Sentencing in Caymus Funding Fraud Case 9)   Former Chairman of 1 Global Carl Ruderman Sentenced 8) Feds Charge Two from Blue Ribbon Funding Tru Capital Funding in Fraud Scheme 7)   Legal Woes Escalate for Kris Roglieri: Court Orders Chapter 7 Liquidation 6)   Johanna Michely Garcia ready to change plea in $200M MJ Capital fraud case Johanna Michely Garcia 5)   2nd Search of Kris Roglieri's home felony weapons charges revealed Kris Roglieri 4)    Johanna Michely Garcia changed her plea in Ponzi scheme case 3) Pillow Fight: Mike Lindell Brings RICO Case Against MCA Funder in MN Court Mike Lindell 2) FBI arrests Kris Roglieri for wire fraud faces 20 years in prison And the # 1 most viewed article of the year goes to none other than, drumroll..... 1) Owner of Prime Capital Ventures CCTG NACLB and FUPME raided by the FBI