Basepoint Capital LLC, a White Plains, New York specialty finance firm, has been named or identified as a connected party in two federal lawsuits central to any Basepoint Capital lawsuit search: a Vermont class action over tribal online payday lending, and a 2025 breach-of-contract case in Georgia involving the successor to Community Choice Financial. The firm has not been the primary defendant in a landmark case, and no court has entered a ruling against Basepoint itself in the tribal lending matter based on the available record.
The Vermont Tribal Lending Case
The most prominent litigation touching Basepoint is Gingras v. Victory Park Capital Advisors, LLC, Case No. 5:17-cv-00233, filed in November 2017 in the U.S. District Court for the District of Vermont. Plaintiffs alleged that a network of financiers ran an unlawful online payday lending scheme that used tribal sovereignty to sidestep state usury caps, a practice often described as “rent-a-tribe” lending.1ClassAction.org. Gingras et al. v. Victory Park Capital Advisors LLC et al.
According to the complaint, the Pinoleville Pomo Nation’s Circle of Nations Lending Authority signed a Term Sheet and Letter of Intent on March 21, 2017 with Receivables Funding LLC and/or Basepoint Capital LLC to refinance the tribal lending operation. The deal was valued at $175 million, with an option to increase financing up to $250 million, and closed on or about May 10, 2017. Receivables Funding LLC was named in the complaint as “John Doe 4,” listed care of Basepoint Administrative LLC in White Plains.1ClassAction.org. Gingras et al. v. Victory Park Capital Advisors LLC et al.
The same refinancing was referenced in a separate Northern District of California case, JW Gaming Development, LLC v. Pinoleville Pomo Nation, No. 3:18-cv-02669, where the court awarded JW Gaming an $8.5 million breach-of-contract judgment against the Pinoleville Pomo Nation and its Gaming Authority. Filings there described the Basepoint-funded refinancing as part of the Tribe’s lending operations.2Turtle Talk Blog. Opposition to Motion, JW Gaming v. Pinoleville Pomo Nation The record does not show that Basepoint Capital itself was a party to that dispute.
Helgesen v. CCF Holdings
In March 2025, Basepoint Capital was named as a defendant in Helgesen v. CCF Holdings, LLC, Case No. 4:25-cv-00043, a breach-of-contract action filed in the U.S. District Court for the Southern District of Georgia. Plaintiff Theodore Helgesen sued a group that also includes CCF Holdings, CCF MIP Holdings, CCFI Companies, and individuals William Baker, Michael Durbin, Kyle Hanson, Allan Jones, Ted Saunders, Steve Scoggins, Julie Torkelson, and Lisa Vittorini.3CourtListener. Helgesen v. CCF Holdings LLC
CCF Holdings is the successor to Community Choice Financial Inc., a payday lender and check casher that operated hundreds of storefronts nationally.4SEC. Community Choice Financial Inc. S-4 Registration Statement CCF Holdings took over the business in a 2018 restructuring involving a strict foreclosure on the predecessor’s assets.5CCFI. CCF Holdings Financial Statements A 2024 research report described Basepoint as a financier to payday lenders and reported that Ted Saunders, one of the individual defendants and a former chairman of Community Choice Financial, became a consultant to Basepoint Capital in February 2023.6J Capital Research. Research Report on AAN Acquisition
The case is a diversity-jurisdiction breach-of-contract dispute. Several defendants moved to dismiss for lack of jurisdiction, and Judge Lisa Godbey Wood denied those motions as moot in January 2026. Helgesen amended the complaint in March 2025 and sought further amendments in July 2025. Court-ordered mediation took place during 2025, and the docket shows the case remains active.3CourtListener. Helgesen v. CCF Holdings LLC
Industry Context and What Basepoint Is Not Named In
Basepoint’s lending activity sits in an industry drawing heavy state enforcement. In January 2025, the New York Attorney General secured a settlement valued at over $1 billion against merchant cash advance provider Yellowstone Capital, its CEO Isaac Stern, and more than two dozen affiliates. The settlement canceled over $534 million in debt owed by more than 18,000 small businesses and permanently barred Yellowstone from the MCA industry.7NY Attorney General. Yellowstone Settlement Prosecutors alleged interest rates as high as 820 percent annually, well above New York’s 16 percent civil usury cap.8Courthouse News Service. NY Attorney General Reaches $1 Billion Settlement With Defunct Cash Advance Firm Over Predatory Loans New Jersey settled with Yellowstone for $27.375 million in 2023 on similar allegations.9NJ Office of Attorney General. AG Platkin Announces $27.375 Million Settlement With Yellowstone Capital
Basepoint Capital is not named as a respondent in either the New York or New Jersey proceedings against Yellowstone.10NY Attorney General. NYAG v. Yellowstone et al. Verified Petition A 2024 research report characterized Basepoint as a “high-interest finance group” that lends to payday lenders and companies banks typically refuse to finance, and described its reputation as “mixed.”6J Capital Research. Research Report on AAN Acquisition
Who Basepoint Capital Is
Basepoint Capital LLC is a subsidiary of BasePoint Group Inc., formed in 2009 and headquartered in White Plains. Led by CEO Eric Schneider, the group reports it has provided approximately $20.3 billion in financing through its affiliates as of late 2025. The firm describes its business as financing originators that serve “underbanked sectors” across commercial, fintech, and consumer markets.11BasePoint Capital. Who We Are Its White Plains office at 44 South Broadway also serves as the registered address for Receivables Funding LLC, an affiliate whose SEC filings show it raised over $161 million through commercial loan participation offerings.12Smartkarma. Receivables Funding LLC A third-party profile lists staffing between 51 and 200 and estimated revenue of $10 million.13ZoomInfo. BasePoint Capital LLC Company Profile