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- New York DFS Provides New Guidance on Disclosure Law, 6 Month Delay October 20, 2021New York’s Department of Financial Services has provided updated guidance on the impending commercial finance disclosure law scheduled to go into effect on January 1st. The main news? A six month delay. “Financiers and brokers shall comply with disclosure requirements six months after the effective date,” the proposals state. The comment period has also been […]
- SBA Task Force Set to Begin Campaign October 19, 2021In response to an unprecedented economic situation, a mixed group of regulators, bankers, small business owners, funders, attorneys, and social media representatives are coming together in a task force to work with the SBA, members of Congress, small businesses and entrepreneurs to transition small business into a “new phase.” Dubbed the SBA Task Force at […]
- Old Hill Partners Upsizes Funding Commitment to ByzFunder up to $40 million October 19, 2021New York, October 19, 2021: ByzFunder, the leading non-bank Fintech company, announced a significant upsizing of existing financing from strategic partner Old Hill Partners of up to $40 million. This financing round comes as a substantial increase from Old Hill Partners’ first facility of $12 million in 2020. In September, ByzFunder closed its record financial […]
- Pandemic-Induced Pivot Results in Innovative Lending Software October 16, 2021“What the hell are we going to do now?” Kunal Bhasin, CEO of 1West, saw the light at the end of the tunnel for his business in March of 2020. Instead of closing his doors and pursuing other options in finance, Bhasin held strong and began developing a product that was merely an idea prior […]
- Fintech Helps Small Businesses More Than Banks, says US Rep October 14, 2021At the Bipartisan Policy Center’s summit on small business recovery on Thursday, Rep. Bill Foster (D-IL) of the US House of representatives credited fintech for helping small businesses survive pandemic-influenced hardships. “I was very struck recently, if you look at the PPP program, some of the most effective providers were fintech. There is some evidence […]