deBanked

The State of Oregon is in the revenue-based financing business, offering small businesses funding up to $1 million in exchange for a percentage of their future sales and a 2.0 factor rate payback. It’s called the Oregon Royalty Loan Program and the factor rate cost is branded as a 2X Royalty. Eligibility is based off of historical sales and projected future sales.

Parafin’s new credit facility with Goldman Sachs was complemented by the disclosure that the company had funded more than 50,000 businesses since inception. Founded in 2020, Parafin typically markets how much it has extended in “offers” to small businesses rather than how much it has actually funded. This bucks the prevailing industry trend.

“Certain automatic debts prohibited. A provider shall not establish a mechanism for automatically debiting a recipient’s deposit account unless the provider holds a validly perfected security interest in the recipient’s account under Title 9A, with a first priority against the claims of all other persons.” Vermont has followed Texas with an identical automatic debit prohibition on sales-based financing. The new law, identified as House Bill 648, goes into effect on July 1, 2027.

LendingClub has finally rebranded to Happen Bank. Explaining the new name, company CEO Scott Sanborn said, “The Happen Bank brand more clearly reflects the role we play in consumers’ lives: helping people make things happen with products that are smart, transparent, and easy to use.” The LendingClub name was a holdover from the company’s early days as a peer-to-peer loan marketplace, a business model it ditched for good at the end of 2020.

In November 2018, a conglomerate of car dealerships went out of business in California. Within three weeks, a merchant cash advance company, 1 Global Capital, was discovered to have filed bankruptcy as a result. They had lost more than $40 million in that dealership deal alone. Over the ensuing weeks, additional funding companies revealed that they had also been in it and gotten burned, some so badly that they also closed their doors.

Salt Lake City, UT – Milestone Capital Partners, Inc. (“Milestone”), the holding company for Milestone Bank, a leading commercial specialty finance platform, announced the successful closing of its $11.5 million corporate note financing. Proceeds from the transaction will be used to support continued growth, including the funding of new originations, and to refinance existing holding company obligations.

B2B Finance Expo 2026 will take place at The Cosmopolitan of Las Vegas on October 20 – 21. This will be the signature commercial finance conference’s third year. Early bird pricing is still available for a limited time. Register for the conference here. To get a discounted hotel room at The Cosmopolitan use this special link here. This event is done in collaboration with the Small Business Finance Association. Last modified:

David Roitblat is the founder and CEO of AI My Advance and Better Accounting Solutions, a leading authority in specialized accounting for merchant cash advance companies alongside our new innovative CRM designed to solve the critical gaps holding the industry back.

The small business loan brokerage had played it safe. Rather than robodial and take their chances in the minefield of TCPA compliance, they ran ads on Facebook and Instagram and had the merchants call them. Inbound leads were gold, they cheered, until one of those inquiries came through a little differently. It was a demand for damages for having been tracked on the internet.

Parent Company of One Park Financial Secures Investment-Grade Capital to Expand SMB Access to Funding Nationwide COCONUT GROVE, FL — Fund Street Technologies LLC (“Fund Street”), a leading technology-enabled small business financing platform and parent company of One Park Financial, today announced the successful closing of a $45.5 million investment grade 7 year corporate note.