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Tuesday, October 13

LatestPodcastVideoReports

Tuesday, October 13

The Daily Line · No. 1

TopBreakingDeep divesRegulatoryFundersBrokersOpinionFintechDeals
Live wire
  • Oct 13RuleCFPB's fair lending report restates MCA exclusion from Section 1071
  • Oct 8FunderFounders First raises $19M fund as most of its deals refinance MCAs
  • Oct 7RuleTrue Food Kitchen's bankruptcy lists a $2.2M MCA balance owed to Parafin
  • Oct 6FintechAI agents handle 80% of Bluevine customer inquiries, Valley says
  • Oct 1FunderParafin's $3B in originations would make Stripe unit a top SMB lender
  • Sep 30CreditIdea Financial closes first $100M asset-backed securitization
  • Sep 30FintechValley Bank CEO discusses Bluevine acquisition on CNBC
  • Sep 29RuleSEC sues 5G Funding and its owner over alleged MCA investment fraud
  • Sep 29CreditValley to buy Bluevine for $340M, calling it a deposit play
  • Sep 28FintechMeta's Muse AI agent bought a B2B Finance Expo ticket with one tap
  • Sep 24RuleSBA sets a 24-month wait before refinancing a converted MCA
  • Sep 22FintechFactoring executive blames MCAs, fintech and state laws for industry's squeeze
  • Oct 13RuleCFPB's fair lending report restates MCA exclusion from Section 1071
  • Oct 8FunderFounders First raises $19M fund as most of its deals refinance MCAs
  • Oct 7RuleTrue Food Kitchen's bankruptcy lists a $2.2M MCA balance owed to Parafin
  • Oct 6FintechAI agents handle 80% of Bluevine customer inquiries, Valley says
  • Oct 1FunderParafin's $3B in originations would make Stripe unit a top SMB lender
  • Sep 30CreditIdea Financial closes first $100M asset-backed securitization
  • Sep 30FintechValley Bank CEO discusses Bluevine acquisition on CNBC
  • Sep 29RuleSEC sues 5G Funding and its owner over alleged MCA investment fraud
  • Sep 29CreditValley to buy Bluevine for $340M, calling it a deposit play
  • Sep 28FintechMeta's Muse AI agent bought a B2B Finance Expo ticket with one tap
  • Sep 24RuleSBA sets a 24-month wait before refinancing a converted MCA
  • Sep 22FintechFactoring executive blames MCAs, fintech and state laws for industry's squeeze
  • Oct 13RuleCFPB's fair lending report restates MCA exclusion from Section 1071
  • Oct 8FunderFounders First raises $19M fund as most of its deals refinance MCAs
  • Oct 7RuleTrue Food Kitchen's bankruptcy lists a $2.2M MCA balance owed to Parafin
  • Oct 6FintechAI agents handle 80% of Bluevine customer inquiries, Valley says
  • Oct 1FunderParafin's $3B in originations would make Stripe unit a top SMB lender
  • Sep 30CreditIdea Financial closes first $100M asset-backed securitization
  • Sep 30FintechValley Bank CEO discusses Bluevine acquisition on CNBC
  • Sep 29RuleSEC sues 5G Funding and its owner over alleged MCA investment fraud
  • Sep 29CreditValley to buy Bluevine for $340M, calling it a deposit play
  • Sep 28FintechMeta's Muse AI agent bought a B2B Finance Expo ticket with one tap
  • Sep 24RuleSBA sets a 24-month wait before refinancing a converted MCA
  • Sep 22FintechFactoring executive blames MCAs, fintech and state laws for industry's squeeze
  • Oct 13RuleCFPB's fair lending report restates MCA exclusion from Section 1071
  • Oct 8FunderFounders First raises $19M fund as most of its deals refinance MCAs
  • Oct 7RuleTrue Food Kitchen's bankruptcy lists a $2.2M MCA balance owed to Parafin
  • Oct 6FintechAI agents handle 80% of Bluevine customer inquiries, Valley says
  • Oct 1FunderParafin's $3B in originations would make Stripe unit a top SMB lender
  • Sep 30CreditIdea Financial closes first $100M asset-backed securitization
  • Sep 30FintechValley Bank CEO discusses Bluevine acquisition on CNBC
  • Sep 29RuleSEC sues 5G Funding and its owner over alleged MCA investment fraud
  • Sep 29CreditValley to buy Bluevine for $340M, calling it a deposit play
  • Sep 28FintechMeta's Muse AI agent bought a B2B Finance Expo ticket with one tap
  • Sep 24RuleSBA sets a 24-month wait before refinancing a converted MCA
  • Sep 22FintechFactoring executive blames MCAs, fintech and state laws for industry's squeeze
Paused
Regulatory

CFPB's fair lending report restates MCA exclusion from Section 1071

The bureau's annual Fair Lending Report repeats that MCAs fall outside the revised small business data rule, which also narrows the small business definition to $1M in revenue.

Time in Business Newsroom·Oct 13·1 min read

Top stories

  1. 1
    Funder spotlight

    Founders First raises $19M fund as most of its deals refinance MCAs

    Oct 8·3 reads
  2. 2
    Regulatory

    True Food Kitchen's bankruptcy lists a $2.2M MCA balance owed to Parafin

    Oct 7·

Latestthe river

Fintech

AI agents handle 80% of Bluevine customer inquiries, Valley says

Details from Valley Bank's acquisition call show how Bluevine uses AI in support and engineering, and why it bundles business software into its banking account.

Time in Business Newsroom·Oct 6·1 min
Funder spotlight

Parafin's $3B in originations would make Stripe unit a top SMB lender

The Stripe deal revealed Parafin's lifetime volume since 2021. Combined with Stripe Capital, the business would trail only a handful of larger online small business lenders.

Time in Business Newsroom·Oct 1·1 min
Deals

Idea Financial closes first $100M asset-backed securitization

The small business lender's three-class deal carries an A+ KBRA rating on senior notes and a three-year revolving period, adding to three existing warehouse facilities.

Time in Business Newsroom·Sep 30·1 min
Deals

Valley to buy Bluevine for $340M, calling it a deposit play

Valley National Bancorp expects to close in early Q1 2027 without traditional bank regulatory or shareholder approval, and gains 175,000 small business banking customers.

Time in Business Newsroom·Sep 29·2 min
Fintech

Meta's Muse AI agent bought a B2B Finance Expo ticket with one tap

A reporter's test of Meta's Muse showed an agent registering for a Las Vegas conference on a site not built for agents, then editing the ticket afterward, with one payment approval.

Time in Business Newsroom·Sep 28·2 min
Regulatory

SBA sets a 24-month wait before refinancing a converted MCA

Updated SBA operating procedures effective October 1 bar refinancing of active sales-based repayment agreements and require a converted MCA to amortize for at least two years first.

Time in Business Newsroom·Sep 24·1 min
Fintech

Factoring executive blames MCAs, fintech and state laws for industry's squeeze

Greg Salomon, a California financing firm president, argues in the IFA's Commercial Factor magazine that MCAs, supply-chain finance, embedded credit and disclosure laws are cutting into factoring.

Time in Business Newsroom·Sep 22·1 min
Deals

Tzomtech acquires Easify; Allan Farago becomes CEO as founder steps down

The Israeli technology company plans to extend Easify from SMS and CRM into bank-statement analysis and underwriting software for merchant cash advance funders, brokers and lenders.

Time in Business Newsroom·Sep 18·2 min

Deep divesthe long read

1 / 6
Deep dive · 3 min

Erica Gilerman's path from collections attorney to Triton chief legal officer

Gilerman joined Triton Recovery Group in 2021, when it had six employees. Today it has 75, and she describes how underwriting, AI-armed merchants and collections now intersect.

Deep dive · 2 min

Shelf companies can fake time in business, and automation raises the risk

Heron Data's Jamie Parker says Secretary of State records are no longer enough to verify company age, and explains the extra checks funders can run as underwriting speeds up.

Deep dive · 2 min

Canadian SMB lenders say fraud rates mirror the U.S., with thinner data

Funders at Xuper Funding and BizFund say fundamentals and fraud checks match U.S. practice, while consortium tools like Lenders API and DataMerch help close the data gap.

Deep dive · 2 min

Three industry blowups, three lessons: 1 Global, Par Funding, Direct Lending

A look at how outsized deals sank an MCA funder, a $91 million Par Funding advance and a $1 billion hedge fund, and the shared mistakes behind each collapse.

Deep dive · 2 min

Credibly to open small business loan pools to retail lenders via Figure

Figure's blockchain-based Democratized Prime already hosts HELOC and auto pools; Credibly's SMB loans are next, open to lenders with as little as $10.

Deep dive · 1 min

Revenue-based financing now spans loans and non-loans, a product survey shows

A sample of providers that collect a percentage of sales, from DoorDash Capital to PayPal Working Capital, shows the label alone does not reveal whether a product is a loan.

Regulatory trackerstate by state

Regulatory desk

3 measures on the books · 4 pending or proposed · maintained by the regulatory desk

State and federal commercial-financing measures
JurisdictionMeasureStatusEffective
CACaliforniaSB-1247Standardized disclosure + 3-day cooling-offBrokers explicitly in scopeEnactedApr 15, 2027
3 reads
  • 3
    Deep dive

    Canadian SMB lenders say fraud rates mirror the U.S., with thinner data

    Aug 5·2 reads
  • 4
    Fintech

    Valley Bank CEO discusses Bluevine acquisition on CNBC

    Sep 30·1 reads
  • 5
    Regulatory

    SEC sues 5G Funding and its owner over alleged MCA investment fraud

    Sep 29·1 reads

    • Most discussed

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      0 readersToday's issue →
      USFederal · FTC
      NPRM 2026-14National commercial-financing disclosureComment period open
      Proposed
      TBD
      USFederal · CFPB§1071Small-business lending data collectionTier 1 compliance datePendingOct 13, 2026
      NYNew YorkS.5470-BCollections conduct + COJ limitsSenate Banking, 2nd readPendingTBD
      TXTexasHB 700Provider registration + UCC lien limitsRegistration renewals due Q4In effectDec 14, 2025
      NJNew JerseyS.2352Commercial financing disclosurePassed Senate 31–6PendingTBD
      GAGeorgiaSB 90Disclosure + broker fee transparencyAG enforcement onlyIn effectApr 14, 2024
      MDMarylandHB 1150Sales-based financing registrationDied in committee; refiling expectedStalledTBD