<SEC-DOCUMENT>0000897069-25-001573.txt : 20251015
<SEC-HEADER>0000897069-25-001573.hdr.sgml : 20251015
<ACCEPTANCE-DATETIME>20251015120658
ACCESSION NUMBER:		0000897069-25-001573
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251015
DATE AS OF CHANGE:		20251015

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LENDWAY, INC.
		CENTRAL INDEX KEY:			0000875355
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				411656308
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-43578
		FILM NUMBER:		251394066

	BUSINESS ADDRESS:	
		STREET 1:		5000 WEST 36TH STREET
		STREET 2:		SUITE 220
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55416
		BUSINESS PHONE:		7633926200

	MAIL ADDRESS:	
		STREET 1:		5000 WEST 36TH STREET
		STREET 2:		SUITE 220
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55416

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INSIGNIA SYSTEMS INC/MN
		DATE OF NAME CHANGE:	19930328

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Blue Clay Capital Partners LP
		CENTRAL INDEX KEY:			0001544865
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		BCCM ADVISORS, LLC
		STREET 2:		5000 WEST 36TH STREET, SUITE 200
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55416
		BUSINESS PHONE:		612-200-1740

	MAIL ADDRESS:	
		STREET 1:		BCCM ADVISORS, LLC
		STREET 2:		5000 WEST 36TH STREET, SUITE 200
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55416

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Blue Clay Capital Parnters LP
		DATE OF NAME CHANGE:	20120315
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G</submissionType>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001544865</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<securitiesClassTitle>Common Stock, par value of $0.01 per share</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>09/23/2024</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0000875355</issuerCik>
<issuerName>LENDWAY, INC.</issuerName>
<issuerCusip>45765Y204</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>5000 West 36th Street</com:street1>
<com:street2>Suite 220</com:street2>
<com:city>Minneapolis</com:city>
<com:stateOrCountry>MN</com:stateOrCountry>
<com:zipCode>55416</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>BCCM Advisors, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>156930</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>156930</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>156930</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>8.9</classPercent>
<typeOfReportingPerson>IA</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Blue Clay Capital Partners LP</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>84991</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>84991</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>84991</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>4.8</classPercent>
<typeOfReportingPerson>PN</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Blue Clay Capital Smid-Cap LO LP</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>71939</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>71939</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>71939</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>4.1</classPercent>
<typeOfReportingPerson>PN</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>LENDWAY, INC.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>5000 West 36th Street, Suite 220, Minneapolis, Minnesota, 55416</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>This Schedule 13G is being filed jointly by (collectively, the "Reporting Persons"): (1) BCCM Advisors, LLC, a Delaware limited liability company and investment adviser that is an exempt reporting adviser under the Investment Advisers Act of 1940 ("BCCM Advisors"); (2) Blue Clay Capital Partners LP, a Delaware limited partnership for which BCCM Advisors serves as the investment adviser ("Blue Clay Capital Fund"); and (3) Blue Clay Capital Smid-Cap LO LP, a Delaware limited partnership for which BCCM Advisors serves as the investment adviser ("Blue Clay Capital Smid-Cap Fund").</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>The address of the Reporting Persons is 5000 West 36th Street, Suite 200, Minneapolis, Minnesota 55416</principalBusinessOfficeOrResidenceAddress>
<citizenship>Not Applicable</citizenship>
</item2>
<item3>
<notApplicableFlag>Y</notApplicableFlag>
</item3>
<item4>
<amountBeneficiallyOwned>BCCM Advisors is an investment adviser that is an exempt reporting adviser under the Investment Advisers Act of 1940, which serves as investment adviser to private funds, including, but not limited to, the Blue Clay Capital Fund and the Blue Clay Capital Smid-Cap Fund (collectively, the "Funds"), and may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds.&#13;
 &#13;
BCCM Advisors: 156,930&#13;
&#13;
Blue Clay Capital Fund:  84,991&#13;
&#13;
Blue Clay Capital Smid-Cap Fund: 71,939</amountBeneficiallyOwned>
<classPercent>Ownership percentage is based on 1,769,599 shares of common stock, par value $0.01 per share, outstanding as of September 24, 2025, as represented by the Issuer in the Issuer's Proxy Statement filed under Schedule 14A with the Securities and Exchange Commission on October 6, 2025.&#13;
&#13;
BCCM Advisors: 8.9%&#13;
&#13;
Blue Clay Capital Fund: 4.8%&#13;
&#13;
Blue Clay Capital Smid-Cap Fund: 4.1%</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>None</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>BCCM Advisors: 156,930&#13;
&#13;
Blue Clay Capital Fund:  84,991&#13;
&#13;
Blue Clay Capital Smid-Cap Fund: 71,939</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>None</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>BCCM Advisors: 156,930&#13;
&#13;
Blue Clay Capital Fund:  84,991&#13;
&#13;
Blue Clay Capital Smid-Cap Fund: 71,939</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>N</notApplicableFlag>
<ownershipMoreThan5PercentOnBehalfOfAnotherPerson>The Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</item6>
<item7>
<notApplicableFlag>Y</notApplicableFlag>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>BCCM Advisors, LLC</reportingPersonName>
<signatureDetails>
<signature>Michael Yee</signature>
<title>COO</title>
<date>10/15/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Blue Clay Capital Partners LP</reportingPersonName>
<signatureDetails>
<signature>Michael Yee</signature>
<title>COO</title>
<date>10/15/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Blue Clay Capital Smid-Cap LO LP</reportingPersonName>
<signatureDetails>
<signature>Michael Yee</signature>
<title>COO</title>
<date>10/15/2025</date>
</signatureDetails>
</signatureInformation>
</formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
