Letter From the Editor – July/August 2016July 1, 2016 | By: Sean Murray
Challenges facing some of the most well-known consumer lenders in the technology era has caused the mainstream media’s love affair with “marketplace lending” to erode. For example, the Wall Street Journal published a story on July 7th with the cheeky title New Growth Plan for Online Lenders: Layoffs. “In the world of online lending, the hot, new thing is the pink slip,” wrote WSJ’s Peter Rudegair. But if you make it past the headlines, you’ll notice that most of the gloom is constrained to the consumer side. The commercial side on the other hand, is still booming.
I saw this firsthand at a ribbon cutting I attended to celebrate the opening of a new office in Jersey City. And I saw it firsthand when a commercial finance ISO put up help-wanted ads after signing a long-term lease in lower Manhattan. And when I didn’t see it with my own eyes, I read the press releases or conversed with the execs that had just closed major deals. While confidence has retreated from its euphoric highs, a feeling we were actually able to attribute a score to, optimism certainly persists.
In this issue, we shed a spotlight on some of that optimism, while continuing to do what we do best, keeping you apprised of what’s happening out there. Whether it’s ways to keep salespeople motivated or exploring the boundaries of a product at home and abroad, I hope you walk away from this magazine and all of our future ones, a little delighted, determined and debanked…Last modified: September 9, 2016
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.