A10 Capital Parts Ways with Majority Group, Signaling Shift in Lobbying Strategy
Why It Matters
A10 Capital has terminated its lobbying contract with Majority Group LLC, ending a relationship that previously generated $420,000 in fees during its peak year in 2021. The termination, effective December 4, 2025, represents a significant change for a firm that was actively engaged in financial services advocacy during the height of the Paycheck Protection Program (PPP) era.
While the firm paid zero dollars in lobbying fees in recent quarters, the historical spend suggests this was once a meaningful client for Majority Group. The termination leaves uncertainty about A10 Capital's future advocacy approach, particularly as the company recently obtained a Small Business Lending Company (SBLC) license from the SBA in 2024.
Broader Context
The lobbying landscape for financial services firms remains complex, with ongoing PPP-related enforcement actions. The Department of Justice has recovered $2.7 billion through 543 False Claims Act settlements in 2023, indicating continued regulatory scrutiny in the small business lending space.
A10 Capital's decision comes at a moment of evolving regulatory environment, particularly for small business lenders. The company's recent SBLC license suggests continued strategic positioning in the financial services sector, even as it steps back from direct congressional lobbying.
Bottom Line
No immediate replacement lobbying firm has been identified in the available data. A10 Capital appears to be reassessing its advocacy strategy at a time of significant regulatory complexity for small business lenders.
The termination signals a potential strategic recalibration, though the precise motivations remain unclear from the current disclosure documents. Firms in similar positions might view this as an opportunity to reset their congressional engagement approach.