Full Spectrum Processing Information

Full Spectrum Processing (FSP) provides information solutions and services in support of customers in the financial, energy and real estate markets. Based in Philadelphia, FSP has a sustained commitment to ethics and integrity which defines its corporate culture and drives its success. With a diverse workforce serving clients throughout the United States, Full Spectrum Processing provides dynamic operational, accounting and human resources support compelling our clients toward the achievement of their primary missions and business goals. Full Spectrum Processing was the administrative org behind the CBSG/Par Funding receivership portfolio, and was the collection of outstanding merchant cash advances and related repayment claims that court-appointed administrators took over after the SEC brought a fraud case against Par Funding in July 2020. CBSG stands for Complete Business Solutions Group, Inc., which operated under the name Par Funding. At the start of the receivership, the reported portfolio balance was approximately $415.6 million, which grew to nearly $500M as the courts later included the private assets and aircraft owned by their principals. CBSG provided businesses with short-term financing through merchant cash advances, or MCAs. The receiver’s reports use “CBSG Portfolio” specifically to describe the company’s portfolio of MCA accounts in numerous sectors like cannabis development, mining, supply chain, healthcare, property management, hospitality, and construction—not a conventional portfolio of publicly traded stocks or bonds. The matter later resulted in criminal proceedings resolved in March 2026 when the principals pled guilty to raising nearly half a billion dollars from approximately 1,200 investors by misleading investors about its leadership, underwriting, financial condition, and risk profile. Miami Attorney Ryan K. Stumphauzer was appointed receiver, Jim Klenk as Controller, Kevin Young as CIO, and Ben Mannes as CCO before FSP's closure.