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PayPal Supercharges Crypto Payments for U.S. Merchants PayPal is making bold moves this week, turbocharging the adoption of cryptocurrencies at checkout for U.S. merchants. The global payments giant has unveiled its "Pay with Crypto" feature, which enables businesses to accept over 100 digital currencies, including Bitcoin, Ethereum, Solana, and popular stablecoins, from customers using many of the world's leading crypto wallets, such as Coinbase, MetaMask, Binance, and Kraken. Why does this matter? PayPal is slashing the high cost and slow pace of cross-border payments. For the first year, crypto transactions will carry a tiny 0.99% processing fee, a stark contrast to the 10% or higher rates businesses might pay for traditional international payments. After the first year, the fee rises modestly to 1.5%. Merchants can also instantly convert received crypto to U.S. dollars or PayPal’s stablecoin (PYUSD), which pays out an attractive 4% yield if held within PayPal .  For businesses, this means quicker settlement and greater profits from international shoppers. Imagine a customer in Guatemala seamlessly buying from a shop in Oklahoma City, with nearly instant, low-cost crypto payments now a reality. This move signals not just PayPal’s renewed commitment to digital assets after cooling off during the last crypto winter, but also a continued mainstreaming of crypto payments for everyday commerce. With more than 650 million crypto users worldwide and a $3 trillion digital asset economy, PayPal’s new feature could be a major unlock for small businesses seeking global reach. JPMorgan’s Data Fees Stir Up the Fintech Waters While PayPal is opening up global commerce, the gatekeepers at JPMorgan are tightening their grip, sending shockwaves through the fintech ecosystem. JPMorgan has drawn a line in the sand, announcing striking new fees for fintech firms and data aggregators (think Plaid, MX, Yodlee, and others) who want access to customer bank data. Some of these fees could exceed hundreds of millions of dollars per year and may wipe out more than 75% of Plaid’s annual revenue. JPMorgan says the move is about cost recovery and consumer protection, pointing to the nearly 2 billion account data requests per month that now flow through its systems, much of them, it claims, without direct consumer action. The bank highlights its $18 billion annual tech budget and increasing fraud risk as justification, suggesting that uncontrolled data harvesting is exposing customers to real financial harm. But fintechs argue this threatens the heart of open banking. For years, apps like Robinhood, Cash App, and Rocket Money have been built atop access to consumer-permissioned data, making budgeting, investing, and payments easier for tens of millions of users. By hiking the cost, JPMorgan could choke off smaller competitors and hand more power to the giants. The timing is fraught: the Consumer Financial Protection Bureau (CFPB) is close to finalizing new rules meant to secure people’s access to their own financial data. Many see JPMorgan’s move as an attempt to undercut those reforms and cement control over the digital rails of American banking. Both stories mark pivotal moments for the future of fintech. On the one hand, PayPal is democratizing access to global digital payments. On the other, JPMorgan’s approach risks narrowing consumer choice and hiking costs for millions. This tug of war, between platforms opening doors and incumbents drawing lines, will shape the financial lives of customers and businesses for years to come.

Enova International (NYSE: ENVA) has announced a robust second quarter for 2025, showcasing significant year-over-year growth in originations, revenue, and adjusted earnings per share. The financial services company, powered by machine learning and analytics, reported an impressive 22% increase in total revenue and a 46% rise in adjusted earnings per share compared to the second quarter of 2024. This marks the fifth consecutive quarter of greater than 20% year-over-year growth across these key metrics. A major driver of this success is the substantial surge in Enova's small business loans, as Main Street firms increasingly look to non-bank lenders for capital. Enova's small business lending, including business units OnDeck and Headway Capital , has reached a new record, with small and medium-sized business (SMB) offerings constituting approximately two-thirds of the company's loan portfolio. SMB revenue alone increased by 30% year-over-year to a record $326 million, and SMB originations hit a record $1.2 billion in Q2. Key Financial Highlights from Q2 2025: Total Revenue : $764 million, up 22% from $628 million in Q2 2024. Net Income : $76 million, or $2.86 per diluted share, a 41% increase from $54 million, or $1.93 per diluted share, in Q2 2024. Adjusted Earnings Per Share : $3.23, up 46% from $2.21 per diluted share in Q2 2024. Total Company Originations : $1.8 billion, a 28% increase from Q2 2024. Total Loans and Finance Receivables : Reached a record $4.3 billion, a 20% increase from the end of Q2 2024. Net Charge-Off Ratio : Remained strong at 8.1%. Liquidity : Totaled $1.1 billion as of June 30th, including cash, marketable securities, and available capacity on facilities. Share Repurchases : Enova repurchased $54 million of common stock during the quarter. Despite a slight increase in defaults, Enova has proactively tightened its credit underwriting, reflecting a stable credit outlook. The company's diversified business model, robust competitive position, advanced technology, and analytics platform are believed to position it well for continued sustainable and profitable growth. Leadership Transition Announced Enova also announced planned key senior leadership changes as part of its long-term transition strategy: David Fisher , current Chairman and CEO, will transition to Executive Chairman of the Board of Directors, effective January 1, 2026. Steve Cunningham , current CFO, will succeed David Fisher as CEO, effective January 1, 2026. Cunningham has also joined the Board of Directors, effective immediately. Scott Cornelis , current Treasurer and VP of Finance, will succeed Steve Cunningham as CFO, effective January 1, 2026. These leadership changes are set to provide stability and continuity as the company continues to execute its focused growth strategy and deliver long-term shareholder value. Enova's strong performance underscores the growing reliance of small businesses on non-traditional lenders, with surveys indicating that over 90% of small business owners anticipate growth and 76% now prefer non-bank lenders for their speed and convenience. The company remains committed to prudently managing its business to ensure continued success. For more details, you can refer to the official earnings press release and supplemental financial information on the Enova Investor Relations website .

While traditional bank loans become harder to access and credit requirements grow tighter, one funding solution is proving to be both resilient and revolutionary: revenue-based financing , also commonly known as a merchant cash advance (MCA) . For those in the industry, this should come as no surprise. But the greater public is now learning of this product in its various structures. Unlike conventional loans that require perfect credit and strict monthly payments, this model allows small businesses to repay as they earn , freeing them to grow without the pressure of fixed debt. Recent moves by Square in the United Kingdom  and Wells Fargo in the United States  show how revenue-based financing is gaining global traction , and how it’s helping everyday entrepreneurs succeed faster, smarter, and with less risk. Of course, RBF is in many more countries than just the UK and US; it's in countries all over Europe, Asia, and Africa. What Is Revenue-Based Financing? Revenue-based financing (RBF) is a flexible funding option where a business receives upfront capital in exchange for a percentage of its future revenues , typically tied to  daily or weekly card sales  or average monthly deposits. Key features: No interest or compounding debt No personal guarantees A credit score often not required No collateral This makes it an ideal solution for retailers, restaurants, service providers, e-commerce, and other small businesses with fluctuating income or limited access to traditional credit. Wells Fargo’s Grant-Funded RBF Success in the U.S. In Chicago, Wells Fargo’s $20 million Open for Business Growth program  is helping entrepreneurs grow through nonprofit intermediaries that offer revenue-based financing. This program just launched in May, but already has a powerful example according to a Business Journals report : Japanese food startup Onigiri Kororin , which scaled its operations with a $210,000 revenue-based advance  from nonprofit lender Allies for Community Business (A4CB). The capital helped the founders: Move into a kitchen 3x larger Hire more staff (now 25+ employees) Prepare to expand to other U.S. cities The result? More revenue, more jobs, and a thriving local business, all made possible by flexible, non-equity capital. “The loan was transformative,” said co-founder Yuta Katsuyama. Square Launches Cash Advance in the UK Meanwhile, in the U.K., Square   just launched Square Cash Advance , bringing revenue-based financing to its merchant ecosystem. Available to eligible sellers using Square Approved in just a few clicks, no paperwork Repaid automatically from card sales No credit impact  and no fixed term Retail business owner Michael Sayward , an early user, said Square Cash Advance gave him the confidence to grow without risk: “I was raised to stay within my means… but Square’s cash advance let me grow knowing the repayment would flex with my sales.” Square’s model mirrors classic MCA structures, but is integrated directly into their POS platform. That’s embedded lending at work , fast, seamless, and data-informed. Why Businesses Are Embracing RBF Across the globe, small and micro businesses are turning to revenue-based financing because it aligns with their real-world needs. Top benefits for business owners: Fast approvals Predictable flat fees Payments scale with performance No dilution or loss of control Use funds for marketing, inventory, staffing, and more Unlike loans that penalize slow months or carry compounding interest, RBF respects the natural cash flow cycle  of small businesses. Wrap Up Whether it’s a rice ball startup in Chicago or a boutique retailer in London, revenue-based financing is helping entrepreneurs scale operations, hire staff, and build better businesses on their terms.

The numbers tell a fascinating story. While the average SBA 7(a) loan in 2025 clocks in at $451,847, a significant drop from 2021's hefty $704,581, the real headline isn't about shrinking loan sizes. It's about explosive growth in access to capital that's reshaping how we think about small business lending. The Volume Revolution: More Loans, Smaller Checks Here's what should grab every lender's attention: 2025 is on track to approve more than 80,000 SBA 7(a) loans, representing a staggering 50% increase from 2021's numbers. This isn't just growth, it's a fundamental shift in lending behavior that savvy commercial finance professionals are already capitalizing on. The math is compelling. Per a study by iBusiness Funding , as average loan sizes decreased by 36% since 2021, the number of approvals surged. This trend suggests we're witnessing the democratization of SBA lending, with more entrepreneurs gaining access to the capital that was previously concentrated among fewer, larger borrowers. For lenders, this represents both opportunity and strategic recalibration. The days of relying heavily on large-ticket transactions are evolving into a volume-based model that demands operational efficiency and streamlined processes. The Microbusiness Moment Perhaps the most intriguing development is the renaissance of microbusiness lending. Companies with five or fewer employees are seeing notable increases in loan sizes in 2025, signaling that the smallest businesses are not only surviving but thriving enough to warrant larger investments. This trend carries profound implications for portfolio strategy. Fintech platforms currently account for about 25% of SBA loan facilitation, and that number could reach 30% or more by 2025, suggesting that technology adoption is becoming crucial for serving this growing segment effectively. The data reveals that LLCs, in particular, are driving much of this growth. After years of approvals ranging from 30,000 to 43,000, LLCs have already secured over 38,000 approvals in just the first half of FY2025. This acceleration points to improved creditworthiness and growing entrepreneurial confidence among smaller business formations. Industry Hotspots: Where the Action Is Five industries continue to command loan sizes well above the national average, and their performance offers a roadmap for targeted lending strategies: Accommodation and Food Services  - Despite pandemic challenges, this sector shows remarkable resilience Health Care and Social Services  - Benefiting from demographic trends and healthcare expansion Manufacturing  - Riding the wave of reshoring and supply chain localization Retail Trade  - Adapting to omnichannel commerce demands Wholesale Trade  - Capitalizing on supply chain disruption opportunities. These industries have averaged a 22% increase in loan approvals year-over-year from 2021 to 2024, with 2025 numbers suggesting they'll significantly surpass 2024 performance. For commercial lenders, these sectors represent not just lending opportunities but potential for bundled product offerings and deeper relationship banking. The Interest Rate Reality Check The weighted average interest rate of 9.46% in 2025 tells a nuanced story. While this represents a substantial increase from 2022's 5.85%, it's actually 0.67% lower than 2024's average, a surprising development given that the current prime rate (as of July 11, 2025) is 7.5%. This decline suggests lenders are finding ways to remain competitive while managing portfolio risk. It also indicates that borrower demand remains robust despite higher rates, with businesses continuing to view SBA loans as attractive financing vehicles even in a more expensive money environment. Term Structure Dynamics: The 15-Year Sweet Spot Average loan terms have settled just under 15 years, down from nearly 18 years in 2021. While loan sizes dropped 36%, term lengths only decreased 16.8%, a calculated approach that maintains payment affordability while reducing long-term interest exposure. This term compression reflects sophisticated risk management by both lenders and borrowers. Shorter terms reduce interest rate risk while maintaining cash flow manageability, suggesting a maturing market that's learned from recent economic volatility. Technology as the Great Enabler The surge in loan approvals isn't happening in a vacuum. The adoption of AI-powered platforms for loan origination is dramatically improving processing efficiency and enabling lenders to serve more borrowers profitably. This technological transformation is particularly crucial for handling the increased volume of smaller loans that characterize today's market. The SBA lending market remains strong in 2025, with steady demand for loans, particularly in the $100K-$500K range, a sweet spot that benefits from automated underwriting and streamlined processing. Strategic Implications for Commercial Lenders The 2025 SBA landscape demands strategic recalibration across several dimensions: Operational Efficiency : Higher loan volumes with smaller average sizes require streamlined processes and technology adoption to maintain profitability. Portfolio Diversification : The microbusiness surge offers opportunities for lenders willing to develop specialized expertise in serving smaller clients. Product Innovation : Rising interest rates create demand for creative solutions—longer terms, interest-only periods, and refinancing products that help borrowers manage costs. Industry Focus : Concentration in high-performing sectors like healthcare, accommodation, and manufacturing can drive both volume and margins. Relationship Depth : Smaller loan sizes make bundled products and fee income increasingly important for relationship profitability. The Competitive Landscape Shift Perhaps most telling is the transformation occurring among top SBA lenders. Lendistry's surge from #87 to #20 is one of the most notable ranking jumps, illustrating how nimble, technology-forward lenders can rapidly gain market share in this evolving environment. This suggests that traditional competitive advantages, branch networks, legacy relationships, large balance sheets, while still important, are being augmented by operational efficiency and borrower experience capabilities. Looking Forward: The 2025 Opportunity The data paints a picture of a robust, evolving SBA market that rewards strategic thinking and operational excellence. For commercial lenders, success in 2025's SBA landscape requires embracing volume over individual transaction size, investing in technology for operational efficiency, and developing deep expertise in high-growth sectors and microbusiness lending. The question isn't whether the SBA market will continue growing, the data makes that clear. The question is which lenders will position themselves to capitalize on the tremendous opportunity that 2025's lending landscape presents.

Update: Roglieri's trial is now scheduled to commence on January 5th, 2026 Two co-conspirators have pleaded guilty: Kimberly Humphrey and Christopher Snyder . Snyders' sentencing is set for September 16th, 2025. Humphreys' sentencing is TBD but likely before the end of 2025. Update on the Roglieri case: Recently, the U.S. Court of Appeals for the Second Circuit denied bail to Kris Roglieri , the former CEO of Prime Capital Ventures, who is facing five counts of wire fraud. This decision ensures that Roglieri will remain in custody at the Rensselaer County jail until his trial this summer, underscoring the gravity of the charges and the court's assessment of potential risks associated with his release. ​ Trial Date Set Amidst Complex Legal Proceedings Roglieri's trial is scheduled to commence on January 5th, 2026 . Per the court's approval, the postponement from the initial date was attributed to the intricate nature of the case, involving numerous loan transactions and multiple entities. Federal prosecutors emphasized the need for additional preparation time to navigate the complexities inherent in the proceedings. ​ Potential for Plea Negotiations As the trial date approaches, plea negotiations remain a possibility. In federal cases of this magnitude, defendants and prosecutors often engage in discussions that could lead to a plea agreement, potentially mitigating the need for a protracted trial. However, as of now, no such agreement has been publicly disclosed.​ Scope of Charges and Ongoing Investigations The current indictment focuses on five counts of wire fraud related to a specific incident involving a $5 million deposit intended for a $100 million loan for an egg farm in Minnesota. Prosecutors allege that these funds were misappropriated for personal expenditures, including luxury items and travel.   It's important to note that this case represents only a fraction of the broader investigations into Roglieri's business practices. Should he be acquitted in this trial, other alleged fraudulent activities remain under scrutiny, potentially leading to additional charges.  Conversely, even if convicted and sentenced, further prosecutions could ensue based on the sentence and other transactions currently under investigation.

1. Fintech Firms Eye DeFi Lending Shift Within 3 Years Source: Cointelegraph via Binance / CoinGlass Summary Fintech firms are increasingly exploring decentralized finance (DeFi) protocols—like Aave, Compound, and Morpho, as a more efficient, inclusive alternative to traditional lending. Morpho co‑founder Merline Egalite told attendees at EthCC 2025 that many fintechs could shift to DeFi in the next three years, thanks to growing total value locked (TVL), now around $67 billion, and its permissionless infrastructure. Key Points DeFi allows lending and borrowing without intermediaries, improving access for underbanked users. Aave leads with ~$31 billion in TVL, while Morpho holds $5.5 billion. Fintechs risk losing API access or bank support, making DeFi a strategic hedge. Institutions are warming to regulated, yield-bearing DeFi products. Strategic Takeaways Fintech platforms should experiment sooner rather than later . Embedding DeFi lending as a pilot, supporting crypto‑native or cross-border SME use cases, will build institutional knowledge and infrastructure ahead of a broader shift. Consider teaming up with compliance-savvy DeFi protocols to manage regulatory complexity and liquidity risk. 2. Why Small Businesses Shy Away from Business Credit Cards Source: PYMNTS Summary A recent PYMNTS Intelligence report reveals that over half of SMBs use both personal and business credit cards. Younger firms frequently carry balances, signaling cash flow pressure. While high limits attract larger SMBs, smaller ones want credit-building tools and relevant perks. Key Points 50–54% of SMBs use hybrid card strategies, mixing business and personal credit cards. Younger firms lean heavily on credit, with many carrying balances. Key card features vary: large SMBs value high limits; smaller ones seek credit scores and perks. Many rewards fall short of expectations, opening opportunities for more tailored offerings. Strategic Takeaways Card programs should provide tiered incentives : simple tools for startups to build credit, and scalable limit services for larger firms. Reward structures must be vertical‑specific, like travel perks for storefronts or software credits for digital businesses. Highlighting flexible limit growth tied to positive repayment behavior could set your platform apart. 3. AI-Fueled Fintechs Drag Higher Valuations Source: Crowdfund Insider Summary PitchBook reports that fintech startups integrating AI are attracting a valuation premium of 242% over non-AI counterparts. While only one-third of U.S. fintechs are AI-enabled, they capture over half of all venture capital flowing into the sector. Key Points Median valuation of AI fintech startups: $134 million. Heavy investment in AI across “CFO stack” analytics, payment infrastructure, fraud detection, and compliance tools. Though fueled by hype, actual exits and IPOs are still catching up. The “cost of intelligence” is pushed higher by both investor expectations and sophisticated technology development. Strategic Takeaways Lenders and fintech providers should embed AI into every part of operations : underwriting, cash-flow forecasting, risk scoring, document review, and fraud detection. Even basic machine learning features, such as anomaly detection and customer segmentation, can unlock significant value. Start small but think big; integrating AI now is a market differentiator that builds credibility and investor attention.

CNBC and Statista have named the top 300 fintech companies globally. The list includes a segment of top Alternative Financing Business and Consumer lending companies. Alternative financing typically refers to non-bank lenders that provide businesses and consumers with the opportunity to borrow or raise money online. Their methodology: “The 300 companies were decided based on desk research conducted by Statista, alongside editorial input from CNBC. CNBC in February put out a call for applications from fintech companies to express their interest in being featured in the list. Firms were invited to share certain key performance indicators such as revenue, growth and employee headcount with Statista, on the condition that this information wouldn’t be made public. Alongside the application process, Statista also analyzed an additional 2,000 companies to ensure a broad representation of names within the sector. Companies were assessed against a general set of KPIs, in addition to certain sector-specific metrics for their category.” Credit: CNBC Below, we extracted the top Alternative Business Lenders from their list in alphabetical order and provided a summary of what they do according to their website. Biz2Credit   Wilmington USA Our mission is to provide small businesses with the best funding options for each and every project or capital need, with technology that makes business financing easy to understand and easy to access. Bluevine   Redwood City USA Bluevine was founded over 10 years ago as a financial technology company that builds better banking solutions for growing businesses and provides the attention and service they deserve. By combining industry-leading technology and security with dependable customer support, we give business owners the funding and services they need to succeed. Enova   Chicago USA Enova International (NYSE: ENVA) is a leading financial technology company that provides online financial services through our machine learning-powered Colossus™ platform. We serve non-prime consumers and businesses alike, while offering world-class technology and services to traditional banks — in order to create accessible credit for millions. Fundbox   San Francisco USA Shaping the future of small business lending since 2013. We’re on a mission to give small businesses fast, flexible access to capital—so they can focus less on cash flow and more on what they do best: building, growing, and thriving. Funding Circle   London, UK  Founded in 2010, Funding Circle is one of the largest online platforms for business loans in the world and is listed on the London Stock Exchange. Note: Their US business was acquired by iBusiness Funding. Liberis   London UK We're on a mission to unleash the power of small businesses on the world. Delivering the funding and financial products they need. At the right moment. Through a world-defining embedded finance platform. Prosper   San Francisco USA Small business loans to meet your needs. Financing options through BusinessLoans.com can be used for virtually any business expense—from purchasing equipment to increasing inventory, consolidating business debt, buying or expanding a business, or paying for business real estate or rent. SellersFi   Sunrise USA SellersFi is a global financial technology company that empowers e-commerce merchants looking to grow. We offer strategic solutions that make scaling easier and faster. Wayflyer   Dublin Ireland Today's consumer brands need a capital provider that keeps pace with their growth ambitions. Traditional financing options are slow, cumbersome, and often out of reach. That's why we built Wayflyer. Our unique technology can assess your growth potential to deliver tailored financing options in minutes, not months. Youlend   London UK A tech-driven approach to finance. Marketplaces, ecommerce platforms, and technology companies use the YouLend platform to help their merchants run and grow their business. So now that you have this list, who else do you think should be up there? Comment below.

NEW YORK, July 15, 2025 Heron, a startup using AI to automate workflows in business lending, equipment finance, and insurance, has raised $16 million in Series A funding led by global software investor Insight Partners, with participation from existing investors Y-Combinator, BoxGroup and Flex Capital. The Series A will support Heron's next phase of expansion, helping the company scale its AI-driven solutions to more segments. While many AI startups target developers or other technologists, Heron is at the frontier of deploying AI into real-life business operations in traditional industries like lending, banking, and insurance. Heron's mission is to free up humans to focus on judgment-based work and complex edge cases while software handles the repetitive, monotonous work. Heron focuses on serving companies without large engineering departments, enabling more businesses to reap the rewards of the rapid advances in AI. Heron's system can automate time-consuming manual workflows end-to-end, completing tasks automatically or flagging edge cases for human review. That reliability has led many customers to fully offload entire processes to Heron — freeing up their teams to focus on critical work. For example, SMB lenders employ teams of underwriting analysts that spend hours on repetitive intake work — scanning email inboxes for submissions, downloading and renaming files, checking packet completeness, manually entering data into CRMs, and running basic eligibility checks. Using Heron, these hours of work can be accomplished in seconds, and with higher accuracy, full auditability, and no manual overhead. This focus on reliability and solving problems end-to-end has attracted more than 150+ customers to Heron, including insurance carriers and FDIC-insured banks, and enabled the company to process over 350,000 documents per week. One lender cut submission-to-decision time by 60%, while an insurer used Heron to automate over 80% of its inbound submission triage. "Anyone who tells you they use AI to automate work with 100% accuracy is probably lying to you. Instead of chasing accuracy, we focus on clearly understanding where our software is successful and where humans still need to review. This allows customers to use Heron in situations where millions of dollars are at stake and reap the rewards of the AI revolution in a reliable fashion that drives business outcomes," said Johannes Jaeckle, co-founder and CEO of Heron. Founded in 2020 by Dom Kwok, Jamie Parker, and Johannes Jaeckle, Heron launched out of Y-Combinator's Summer 2020 batch, initially building products for financial services companies with earlier generations of AI in the pre-ChatGPT era. The company eventually landed on a core insight: traditional industries weren't waiting for flashy new tools — they were drowning in unstructured data, and paying millions of dollars a year to deal with it. In 2023, as LLMs matured, Heron pivoted to focus on AI document workflow automation. With minimal outside capital, the team tripled annualized revenue in 2024 and has continued to expand its presence in insurance and specialty finance this year. "Heron's AI models with vertical specific context automate the end-to-end data processing workflow, enabling automation and driving competitive differentiation in industries where speed to decisioning is of the essence," said Philine Huizing, Managing Director at Insight Partners. "Heron's founding team—Johannes, Jamie, and Dom—are an experienced trio that has proven their ability to adapt and execute. We're thrilled to partner with them and the entire Heron team as they continue to scale up." The new capital will be used to scale Heron's presence in insurance, equipment finance and SMB lending, while expanding into adjacent verticals that have shown demand for Heron's solution. The company plans to grow its engineering and go-to-market teams in New York and London, and continues to invest in internal AI Tooling to enable a small team to serve more and more customers. "We've proven we can win in one segment," said Jaeckle. "Now we're going workflow by workflow, industry by industry — giving people hours back in their day by eliminating time-intensive manual work." About Heron Heron automates document-based workflows across industries like lending, insurance, and equipment finance. By turning unstructured documents into structured, actionable data, Heron helps companies process information faster, more accurately, and with less manual effort. Heron is based in New York and London, with the team bringing a wealth of experience from top-tier tech companies including Facebook, Spotify, N26, Revolut and Taptap Send. Learn more at   herondata.io About Insight Partners Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

Let’s be honest: if you’re already a business loan broker, you’ve probably heard the chatter: “AI is going to replace everyone.” “Banks are taking over.” “Regulations are tightening.” Yeah, yeah. And yet, here you are, still closing deals while many files are still stuck in underwriting . So let’s set the record straight: in talking to countless brokers over the last year, being a business loan broker is still one of the smartest, most flexible, and high-upside gigs in 2025. Whether you’re just exploring the career path or already have a stack of approvals on your desk, here’s why you’re in the right place… and probably ahead of the curve. The Demand Is Still Sky-High Small business owners are starving  for capital right now. Traditional banks? They’re saying “no” more than ever. According to the latest reports, big banks are approving less than 15%  of small business loan applications. That’s not a typo. Meanwhile, alternative lenders and fintechs are stepping up, and brokers are the bridge . Every restaurant looking to expand, every contractor needing new equipment, every ecommerce store ready to scale, they all need funding. And many of them don’t know where to go. That’s where you shine. TAKE OUR QUICK INTERACTIVE QUIZ The Income Potential Is Real If you’ve closed just one decent deal , you already know: You don’t need to close 100 loans a month to make serious money. A single commission check can change your month. Close a few larger deals (or fund a bunch of smaller MCA files), and you’re looking at six-figure income territory, with no cap  and very little overhead. Compare that to someone grinding away in corporate sales, cold calling for $70K and praying for a promotion. Six figures as a broker should be the minimum after one year. Plus, in this space, you build your portfolio . You own your relationships (some ISO agreements may say otherwise). The Tools, Tech, and Training Have Never Been Better Gone are the days of fumbling through 20 Google Docs and chasing random lenders on LinkedIn. The modern business loan broker (like you) has access to: Custom CRMs  built for funding deals Underwriting calculators  that actually help you price right Preferred Lenders with matching tools that take hours off your day Training courses with proven templates, email scripts, and communities  with battle-tested pros sharing the game (Shameless plug: Funder Intel’s Loan Broker Pro Course  gives you all that and more.) If you’re already seasoned? Think of these tools like a cheat code to scale. Hire junior reps, use a smart CRM, automate follow-ups, and go from hustler to true funding agency . AI Isn’t Replacing You, It’s Powering You AI isn't your enemy, it’s your virtual assistant . Use AI to write follow-up emails in seconds Use chatbots to prequalify clients Use smart scoring models to filter out junk apps Use automated content to stay top of mind with your list While some brokers worry about tech, the smart ones are leveraging it to 10x their output . You’re not being replaced. You’re being enhanced. You Know the Game, New Brokers Need You Here’s a fun twist: If you’ve been brokering for a few years, guess what? You’re in a prime position to teach, lead, or coach. The new wave of brokers entering the space? Many are hungry, motivated… and totally lost. They don’t know how to source quality leads, structure a deal, or build lender relationships. This is your opportunity to: Build a team of sub-brokers Offer consulting Launch a mini-agency model  and have others work under you Some of the top brokers in the industry are now making six figures just from overrides, and still closing their own deals. The Intangibles Are Still the Best Part Let’s be real: the money is great. The independence is priceless. But the best  part of being a business loan broker? ➡️ You help people win. You’re not just slinging paperwork. You’re helping a mom-and-pop shop expand its dream. You’re helping a trucking company land a big contract. You’re the reason a startup finally hired its first employee. When a deal funds and your client calls you saying, “You changed my life,” that hits different. So, Is It Still a Good Time to Be a Business Loan Broker? It’s not just a good time, it’s a power move. If you're already in the game, keep sharpening your edge. Use better tools. Master your follow-up. Build your brand. Train others. If you’re just getting started, don’t worry, you’re not too late. You’re early to the next evolution of small business financing. Want to Level Up Fast? We built the Business Loan Broker Pro Course  for exactly this moment. Proven templates Vetter lenders to partner with CRM workflows Funding calculators Live training And support from a team that’s been in the trenches No fluff. Just what works. Final Word The business loan broker industry offers a combination rarer than a unicorn eating a four-leaf clover: High income potential without selling your soul Flexible lifestyle that doesn't require living in your car Growing market that needs what you're selling Technology advantages that make success more achievable than ever Scalable model that can grow with your ambitions 2025 isn’t the end of business loan brokering. It’s just the beginning of the next, more profitable, more powerful version of it.

First Liberty Building & Loan office The faithful gathered at conservative conferences, trusted friends vouching for golden investment opportunities, and a family dynasty that seemed too good to be true. It was. The phone calls started coming in late June 2025. Panicked investors, many of them devout conservatives who had trusted their life savings to a family name synonymous with Georgia Republican politics, discovered their bridge to financial security had collapsed into a $140 million chasm of deception. At the center of it all was Edwin Brant Frost IV , a man who had spent nearly four decades building credibility in Georgia's Republican circles, only to allegedly use that trust to orchestrate one of the state's largest financial frauds in recent memory. The Architect of Deception Frost wasn't just any businessman peddling investment schemes. Since 1988, when he coordinated televangelist Pat Robertson's Republican presidential campaign in Georgia, Frost had been a fixture in conservative politics. His influence extended far beyond his own ambitions – he had built a political dynasty. His son, Brant Frost V, serves as chairman of the Coweta County Republican Party and held the position of second vice-chair of the state Republican Party. His daughter, Katie Frost, chairs the Republican committee for Georgia's 3rd Congressional District. The family didn't just participate in politics; they were the infrastructure. This wasn't some fly-by-night operation. First Liberty Building & Loan , based in suburban Newnan, southwest of Atlanta, had been operating since 2014, presenting itself as a legitimate bridge lending company that helped businesses secure quick capital while waiting for traditional Small Business Administration loans. The Golden Promise That Glittered Too Bright The pitch was seductive in its simplicity: First Liberty would use investor funds to make short-term, high-interest loans to businesses at rates up to 18%. In return, investors would receive returns between 8% and 16% – far above what traditional investments offered. The warning signs were there for those who knew where to look: • Unusually high returns:  Promising 8-16% returns in a low-interest environment • Exclusive access:  Marketing heavily to religious and conservative networks • Family guarantees:  Leveraging the Frost name and political connections • Aggressive expansion:  Moving beyond "family and friends" to mass marketing According to SEC investigators , Frost told investors that very few loans had defaulted and that borrowers would reliably repay through SBA or commercial loans. The reality was starkly different. When the Bridge Collapsed The SEC's investigation revealed a classic Ponzi scheme structure. While some investor funds initially went to legitimate bridge loans, most of these loans ultimately defaulted and stopped making interest payments. By at least 2021, First Liberty was operating as a pure Ponzi scheme, using new investor money to pay returns to existing investors. The numbers tell a devastating story: • 300 investors  defrauded of at least $140 million • Average investment:  Nearly $500,000 per investor • Company cash on hand:  Only $2.67 million as of May 30, 2025 • Frost's personal take:  $17 million for himself, family, and affiliated companies A Life of Luxury Built on Lies While investors believed their money was safely generating returns through business loans, Frost was allegedly funding a lifestyle of extraordinary excess: • $2.4 million  in credit card payments • $573,000  in political donations to Republicans • $335,000  to a rare coin dealer • $320,000  to rent a vacation home in Kennebunkport, Maine (the Bush family's summer retreat) • $230,000  on family vacations • $160,000  on jewelry • $20,800  on a single Patek Philippe watch Patek Philippe watch The audacity continued even as investigators closed in. On May 15, 2025, when SEC officials first met with Frost, he allegedly made "misrepresentations" to investigators. Yet he continued soliciting new investors, sending a June 16 email asking for investments between $100,000 and $500,000, claiming the company was developing AI software for banks and credit unions. First Liberty shut down just 11 days later on June 27. The Political Earthquake The collapse of First Liberty sent shockwaves through Georgia's Republican establishment. The firm had aggressively marketed to GOP-friendly audiences, appearing on conservative radio shows and leveraging political connections built over decades. The Georgia Republican Assembly and its PAC, closely tied to the Frost family, had made major contributions to prominent conservative candidates, including Rep. Noelle Kahaian, Senator Colton Moore, and Rep. Charlice Byrd. The PAC was quietly terminated on June 29, just days after First Liberty's collapse. Frost V had made appearances on Charlie Kirk's podcast, and the company advertised on "The Erick Erickson Show," demonstrating how deeply embedded the family was in conservative media networks. The Apology That Came Too Late On July 11, 2025, as U.S. District Judge Michael Brown froze Frost's assets and appointed a receiver, the man who had built his reputation on trust and conservative values issued a statement through his lawyers: "I would like to apologize personally to those I have harmed, but I am under restrictions which prevent me from doing so. I take full responsibility for my actions and am resolved to spend the rest of my life trying to repay as much as I can to the many people I misled and let down." The judge's order banned Frost from the securities business and required him to pay back ill-gotten gains with interest and fines. Financial consultant S. Gregory Hays was appointed as receiver to take control of assets and attempt to recover funds for investors. The Devastating Math With only $2.67 million in cash remaining against $140 million in investor losses , the recovery prospects appear grim. The average investor loss of nearly $500,000 represents life savings, retirement funds, and dreams destroyed by a man they trusted implicitly. Many investors were not wealthy speculators but ordinary people who believed they were making conservative investments with a trusted family name. The targeting of religious and conservative networks makes the betrayal particularly painful for victims who shared not just financial trust but ideological bonds with the Frost family. What Comes Next Federal prosecutors have not yet announced whether they will pursue criminal charges, though such cases often involve both SEC civil actions and federal criminal prosecutions. The business is also under investigation by the Georgia Secretary of State for possible securities law violations. The receiver faces the daunting task of unraveling years of financial deception while trying to maximize recovery for victims. Meanwhile, Georgia's Republican establishment must grapple with how a family so central to their political infrastructure could orchestrate such a massive fraud. As Justin C. Jeffries, Associate Director of Enforcement for the SEC's Atlanta Regional Office, noted: "The promise of a high rate of return on an investment is a red flag that should make all potential investors think twice or maybe even three times before investing their money." For the 300 investors who trusted the Frost name, that warning came too late. Their bridge to financial security had collapsed, leaving behind only the wreckage of broken trust and empty promises.

Two recent bank fraud Department of Justice prosecutions serve as stark reminders of why funders, lenders, and brokers must maintain rigorous due diligence standards when assessing business loan applications and borrower risk profiles. These cases highlight the sophisticated methods fraudsters employ and underscore the urgent need for financial institutions to stay current with fraud detection technologies while maintaining strict underwriting protocols. The Scope of the Problem The financial industry continues to face evolving fraud schemes that exploit weaknesses in application processes and identity verification systems. Two recent federal cases demonstrate the scale and sophistication of these criminal enterprises: In New Jersey, federal prosecutors charged Humza Khan with orchestrating a scheme that secured $150,000 in fraudulent accounts receivable financing by stealing the identity of an elderly Hudson County resident. Khan used the victim's personal information, including name and Social Security number, to conceal his involvement in obtaining loan proceeds for a Florida-based specialty pharmacy in which he held a financial interest. Meanwhile, in North Carolina, Kotto Yaphet Paul received a 15-year prison sentence for leading a multimillion-dollar fraud conspiracy that defrauded at least 17 federally insured financial institutions of more than $17 million across 42 fraudulent loans. Paul's sophisticated network of co-conspirators systematically submitted false documentation, including fabricated income statements, employment records, financial statements, bank statements, and tax returns to secure business loans, land development financing, and residential mortgages. Red Flags That Demand Attention These cases reveal several critical warning signs that underwriting teams must recognize: Identity Inconsistencies : Khan's scheme succeeded initially because lenders failed to verify the identity of the purported loan applicant adequately. The use of an elderly individual's personal information should have triggered enhanced verification protocols, particularly when the application involved a young entrepreneur with a Florida-based business. Documentation Discrepancies : Paul's $17 million fraud relied heavily on falsified financial documents. His network systematically created fake income statements, employment records, and tax returns that convinced multiple institutions to approve substantial loans. This suggests gaps in document verification and cross-referencing procedures. Pattern Recognition Failures : Paul's scheme involved 42 separate loans across 17 institutions, indicating that individual lenders may have lacked the systems to identify patterns of suspicious activity that would have been apparent when viewed collectively. Misrepresented Loan Purposes : Court documents reveal that Paul and his co-conspirators consistently misrepresented how loan proceeds would be used, then diverted funds to real estate purchases, unrelated business expenses, investments, and personal expenditures rather than the stated purposes. The Technology Imperative Modern fraud detection requires sophisticated technological solutions that go beyond traditional underwriting methods. Financial institutions must invest in: Enhanced Identity Verification : Multi-factor authentication systems, biometric verification, and real-time identity validation can help prevent schemes like Khan's that rely on stolen personal information. Document Authentication Technology : Advanced document verification systems using artificial intelligence and machine learning can detect manipulated financial statements, tax returns, and other supporting documentation that manual review might miss. Cross-Institution Data Sharing : Improved information sharing between financial institutions could help identify patterns like Paul's multi-lender approach, where fraudsters spread risk across multiple institutions to avoid detection. Behavioral Analytics : Machine learning algorithms can identify unusual patterns in application behavior, documentation submission, and early loan performance that may indicate fraudulent activity. Strengthening Underwriting Standards The human element remains crucial in fraud prevention. These cases demonstrate the need for: Comprehensive Background Checks : Thorough verification of applicant identities, business registrations, and financial histories can reveal discrepancies that automated systems might miss. Enhanced Documentation Requirements : Requiring multiple forms of verification for income, employment, and business operations makes it more difficult for fraudsters to create convincing false narratives. Ongoing Monitoring : Post-approval monitoring of loan performance and fund usage can help identify diversions from stated purposes before losses become substantial. Staff Training : Regular training on emerging fraud schemes ensures that underwriting teams can recognize new tactics as they develop. The Cost of Inadequate Due Diligence Paul's scheme resulted in defaults on most of the fraudulent loans, causing substantial losses to victim institutions. Beyond direct financial losses, these cases demonstrate the broader costs of inadequate due diligence: Regulatory Scrutiny : Financial institutions that fall victim to large-scale fraud face increased regulatory oversight and potential enforcement actions. Reputational Damage : Being victimized by fraud schemes can damage an institution's reputation and customer confidence. Operational Disruption : Investigating and recovering from fraud requires significant resources and can disrupt normal business operations. Legal Expenses : Pursuing recovery and cooperating with federal investigations involves substantial legal costs. Moving Forward The sophistication of these fraud schemes demands an equally sophisticated response from the lending industry. Financial institutions must view fraud prevention not as a cost center but as a critical competitive advantage that protects both their assets and their customers. Success requires a multi-layered approach combining advanced technology, rigorous procedures, and well-trained personnel. Institutions that invest in comprehensive fraud prevention systems will be better positioned to identify and prevent the next generation of financial crimes.

Propel Finance, a leading UK asset-finance provider, has secured a landmark £1.5 billion funding facility  designed to accelerate lending to small and medium-sized enterprises (SMEs)  across Britain. The company has already supported more than 50,000 SMEs  with over £1 billion in lending over the past three years. The new funding will bolster Propel's capacity to finance assets such as equipment, vehicles, and green technology across manufacturing, construction, transport, technology, and telecom sectors. Major partners include Barclays , Bank of America , Citigroup , and the British Business Bank  (via the ENABLE funding program). Key Points £1.5B in New Capital - A consortium of institutional lenders has provided funding through forward flow, wholesale lines, and a mezzanine facility. This enables Propel to double its lending capacity over the next three years. Diverse Funding Sources Barclays : forward flow funding facility Bank of America : wholesale funding support Citigroup  & British Business Bank : ENABLE funding program Global mezzanine facility  via a major alternative investment firm Track Record of Growth - In three years, Propel has facilitated more than £1 billion in loans  to over 50,000 SMEs , earning titles like “Fastest Sustained Growth” from industry ranking groups. Strategic Partnerships - Barclays, Citi, and the British Business Bank are backing Propel’s financing capabilities. This reflects strong institutional support and aligns with the UK government's objectives to enhance SME access to capital. Final Thoughts This £1.5 billion funding infusion is a strategic inflection point for Propel . It strengthens the firm’s ability to meet growing demand, unlock green and productivity-enhancing investments, and scale asset-backed solutions across key industries. This partnership also highlights a broader trend: asset finance convergence , with asset lenders building durable, institutional-grade capital structures. What to Watch Deployment pace : How rapidly Propel turns these funds into loans. Securitization rollout : Whether Propel will leverage private securitizations, as seen in previous deals. Funding diversification : Potential access to bond markets or other capital structures. Regulatory implications : As asset finance scales, how FCA oversight evolves.