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The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

As of February 13, 2020, the California Department of Business Oversight entered into a Consent Order with Business Capital LLC of Hallandale Beach, Florida. The case number and license number are CFL # 60DBO-56011.

RECITALS
A. The Commissioner has jurisdiction over the licensing and regulation of persons and entities engaged in the business of making consumer and commercial loans pursuant to the California Financing Law (CFL) (Fin. Code, § 22000 et seq.).
B. Business Capital is a finance lender that was licensed by the Commissioner from July 27, 2016 to December 29, 2019 (CFL License No. 60DBO-56011). Business Capital has its principal office located at 1920 East Hallandale Beach Boulevard, Suite 505, Hallandale Beach, Florida 33009.
C. Business Capital has no branch locations in California.
D. Tzvi Pershin is the president and a control person of Business Capital and, as such, is authorized to enter into this Consent Order on Business Capital's behalf.
E. In accordance with Financial Code section 22107, each finance lender, broker, or program administrator licensee shall pay to the Commissioner its pro rata share of all costs and expenses, including the costs and expenses associated with the licensing of mortgage loan originators it employs, reasonably incurred in the administration of this division, as estimated by the Commissioner, for the ensuing year and any deficit actually incurred or anticipated in the administration of the program in the year in which the assessment is made. CFL licensees must pay the annual assessment on or before the 31st day of October each year.
F. Pursuant to Financial Code section 22153, a licensee is required to submit a change of address form 10 days prior to an address change.
G. On September 30, 2019, the Commissioner sent Business Capital the Assessment Notice per invoice number CF0592. The notice was mailed to the address Business Capital registered with the Department (Registered Address): 10400 Griffin Road, #301, Cooper City, Florida 33328. The notice stated that the annual assessment would become delinquent if not paid by October 31, 2019.
H. As of October 31, 2019, Business Capital had not paid its annual assessment. The failure to pay the annual assessment on or before October 31, 2019 represents a violation of Financial Code section 22107.
I. As of November 6, 2019, Business Capital had not paid its annual assessment. As a result, the Commissioner sent to Business Capital's Registered Address a Notice of Unpaid Assessment on November 6, 2019. The notice warned that failure to pay the assessment would result in summary revocation of Business Capital's license. Business Capital did not respond to the Commissioner's notice.
J. As of December 6, 2019, Business Capital had not paid its annual assessment. As a result, on December 6, 2019, the Commissioner issued an Order Summarily Revoking California Financing Law License Pursuant to Financial Code Section 22107 for CFL License Number 60DBO-56011 (Revocation Order). The Department mailed the Revocation Order to Business Capital's Registered Address along with notice that it would become effective December 30, 2019 unless payment of the annual assessment was received by close of business on December 27, 2019.
K. As of December 27, 2019, the assessment remained unpaid. As such, the Revocation Order became effective December 30, 2019.
L. Business Capital stated that it did not receive the notices or the Revocation Order because it failed to properly notify the Commissioner that it had changed its place of business to a street address other than that designated on its license, as required by Financial Code section 22153.
M. Business Capital admits to the jurisdiction of the Commissioner and it is the intention of the parties to resolve this matter without the necessity of a hearing and/or other litigation.
N. The Commissioner finds that entering into this Consent Order is in the public interest and consistent with the purposes fairly intended by the CFL. NOW, THEREFORE, for good and valuable consideration, and the terms and conditions set forth herein, the Parties agree as follows:

TERMS
1. Purpose. This Consent Order resolves the issues before the Commissioner described above in a manner that avoids the expense of a hearing and other possible court proceedings, protects consumers, is in the public interest, and is consistent with the purposes, policies, and provisions of the CFL.
2. Desist and Refrain Order. Pursuant to Financial Code section 22712, Business Capital is hereby ordered to desist and refrain from failing to timely pay the annual assessment in violation of Financial Code section 22107.
3. Order Rescinding Revocation Order(s). The Commissioner hereby rescinds the Revocation Order, which was issued on December 6, 2019, and became effective on December 30, 2019, as of the effective date of revocation.
4. Order to Pay Annual Assessment. Pursuant to Financial Code section 22107, the Commissioner hereby orders Business Capital to pay $250.00 to the Department of BusinessOversight for the 2019 - 2020 annual assessment. The annual assessment shall be paid to the Commissioner within 30 days of the Effective Date of this Consent Order as defined in paragraph 23. The annual assessment shall be labeled "2019 - 2020 annual assessment" and made payable in the form of a cashier's check or Automated Clearing House deposit to the "Department of Business Oversight," and transmitted to the attention of:

ATTN: Accounting Department of Business Oversight 1515 K Street, Suite 200 Sacramento, California 95814.

Notice of payment shall be made via email to Trevor Carroll, Counsel at Department of Business Oversight, at trevor.carroll@dbo.ca.gov.
5. Administrative Penalties and Fines. Business Capital shall pay administrative fines and penalties in the amount of $3,000.00 for the violation of the CFL enumerated herein. All fines and penalties shall be labeled "fines and penalties" and made payable in the form of a cashier's check or Automated Clearing House deposit to the "Department of Business Oversight," and transmitted to the attention of:

ATTN: Accounting - Litigation Department of Business Oversight 1515 K Street, Suite 200 Sacramento, California 95814

9. Future Actions by the Commissioner. If Business Capital fails to comply with any terms of the Consent Order, the Commissioner may institute proceedings for any and all violations otherwise resolved under this Consent Order. The Commissioner reserves the right to bring any future actions against Business Capital, or any of its partners, owners, officers, shareholders, directors, employees or successors for any and all unknown violations of the CFL.
19. Voluntary Agreement. Business Capital enters this Consent Order voluntarily and without coercion and acknowledges that no promises, threats or assurances have been made by the Commissioner or any officer, or agent thereof, about this Consent Order. The parties each represent and acknowledge that he, she or it is executing this Consent Order completely voluntarily and without any duress or undue influence of any kind from any source.
20. Notice. Any notice required under this Consent Order be provided to each party at the following addresses:

To Business Capital LLC: Tzvi Pershin,President 1920 East Hallandale Beach Boulevard, Suite 505 Hallandale Beach, Florida 33009 henry@businesscapitalllc.com

To the Commissioner: Trevor J. Carroll, Counsel Department of Business Oversight Enforcement Division 1515 K Street, Suite 200
Sacramento, California 95814 trevor.carroll@dbo.ca.gov

21. Signatures. A fax or electronic mail signature shall be deemed the same as an original signature.
22. Public Record. Business Capital hereby acknowledges that this Consent Order is and will be a matter of public record.
23. Effective Date. This Consent Order shall become final and effective when signed by all parties and delivered by the Commissioner's agent via email to Business Capital's representative, at henry@businesscapitalllc.com.
24. Authority to Sign. Each signatory hereto covenants that he/she possesses all necessary capacity and authority to sign and enter into this Consent Order and undertake the obligations set forth herein.

Dated: February 13, 2020 MANUEL P. ALVAREZ
Commissioner of Business Oversight
By_____________________________ MARY ANN SMITH
Deputy Commissioner Enforcement Division

For further information please contact:

Department of Business Oversight
1515 K Street, Suite 200
Sacramento, California 95814
Telephone: (916) 322-8782
Facsimile: (916) 445-6985
Link: https://dbo.ca.gov/wp-content/uploads/sites/296/2020/02/Consent-Order-Business-Capital-LLC.pdf