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From Our Partners
- Square Capital Resumes Business Lending August 5, 2020Square Capital, the small business lending division of Square, resumed offers for its “core flex loans” in late July, the company announced. However, there will be “stricter eligibility criteria.” Square Capital made no core flex loans in Q2, having paused in mid-March on news of the impending crisis. The company pivoted to PPP lending in […]
- Par Funding Files Strong Response to SEC’s TRO After “Lockout” August 4, 2020Par Funding’s attorneys at Fox Rothschild filed a strong response with the Court over the apparent actions taken by the Receiver to lock out its employees and suspend ACH debits, the docket shows. “On the afternoon of July 28, the SEC advised that Mr. Stumphauzer (the appointed receiver) would cause the immediate dismissal of all […]
- Did Sealed Case Get Leaked on Bloomberg News Site? August 4, 2020A series of Bloomberg News stories in 2018 appear to have put a handful of companies in the cross-hairs of regulators, recent legal filings indicate, and Bloomberg is enjoying unusual status in the saga. One example is the copy of a federal lawsuit brought by the SEC that appeared on Bloomberglaw.com on Monday, July 27th. […]
- ZenBusiness Acquires Joust August 3, 2020ZenBusiness, the Austin-based business formation services company, recently announced that it reached an agreement to acquire Joust for an undisclosed amount. Offering financing options to freelancers and entrepreneurs, Joust services, like PayArmour, will continue under its new ownership, rebranded as ZenBusiness Money when it relaunches in October. “The acquisition of Joust and upcoming launch of […]
- FTC Commissioner Rohit Chopra on Merchant Cash Advances August 3, 2020Following recent lawsuits filed by the FTC, Commissioner Rohit Chopra made the following statements earlier today in an announcement about merchant cash advances: As the Commission proceeds into litigation in these matters and further studies this market, I hope that we will uncover additional information about business practices in this opaque industry. In particular, we […]