Catch up with Alternative Business LendingMay 7, 2013 | By: Sean Murray
If you feel like you’re falling behind on the news, you’re not alone. Things are happening FAST. here’s what you need to know:
5/7/13: Google Looks to Profit from Alternative Lending. Say hello to Mother Google.
5/6/13: Forbes interview with a Kabbage co-founder. It did not sound like they plan on remaining exclusive to the e-commerce side of business lending.
5/3/13: Summary of the ETA Expo. ACH is now the leading platform behind Merchant Cash Advance.
5/2/13: IOU Central smashes last year’s numbers. Publicly traded in Canada, this funder is only picking up steam.
5/1/13: Google Ventures and Peter Thiel invest in On Deck Capital. How’s that for big names?
5/1/13: My Silicon Valley VC prediction comes true with the On Deck and Lending Club announcements.
4/24/13: Business Financial Services Upgrades to $82 million credit facility. Not too shabby
4/24/13: IOU Central renews their credit facility.
4/24/13: Rumors begin to swirl that Amerimerchant has also landed a new credit facility. We have no confirmation on this.
How’s that for a 2 week span and those are just some of the headlines. More news is on the way as we are hearing rumors galore.
I made another prediction back in February 2012 (Does Your Mom Sell Merchant Cash Advance?) in which I said consolidation was inevitable. With all these funders raising massive capital, mergers and acquisitions will be next on the agenda. Last modified: September 28, 2013
Sean Murray is the founder of deBanked, an 11-year veteran of the merchant cash advance industry, a casual Lending Club and Prosper note investor, the co-founder of Daily Funder, an alternative lending speaker, consultant, writer, and enthusiast. Connect with me on LinkedIn or follow me on twitter.