Archive for 2017

Mel Chasen, Founder of Rewards Network and a Merchant Cash Advance Visionary, Has Died

March 15, 2017
Article by:

candle

Melvin Chasen passed away on Monday. He was 88. Chasen founded Rewards Network in 1984 as Transmedia Network, Inc. and it went on to become the world’s largest dining rewards program. As part of that, the company pioneered the use of future sales to facilitate working capital to restaurants. Transmedia became iDine Rewards Network in […]

View Post

How Whitepages Turned Their Data into an Identity Verification Tool for Online Lenders

March 15, 2017
Article by:

Whitepages Pro

Whitepages might be a 20-year old company but the data they’ve amassed over time can add significant value to online lenders, the company claims. Whitepages Pro, which offers identify verification, allows lenders to gauge if an individual is real. “It examines fraud risk, not credit risk,” company CEO Rob Eleveld said in a brief interview […]

View Post

Stolen Deals? How One Funder Used Technology to Say ‘No More’

March 14, 2017
Article by:

security camera

It’s another chapter in the saga of stolen deals, a problem that shops all over the country seem to be grappling with. For Miami-based Greenbox Capital, company CEO Jordan Fein hoped it was something that they didn’t have to worry about. But believing it was better to be safe than sorry, Greenbox launched a 90-day […]

View Post

Kabbage CEO Rob Frohwein Pokes Fun at “Alternative Lending”

March 14, 2017
Article by:

Alternative Lending is just lending

At LendIt, Kabbage CEO Rob Frohwein poked fun at alternative lending, suggesting that it should just be called lending. His presentation, titled “Alternative Lending is Dead Long Live Data,” put the last few years of irrational exuberance into perspective. Below are some of his one-liners: “You don’t disrupt banks by focusing on the advantages that […]

View Post

Brief: New York’s Attempt to Over-Regulate Lenders Downgraded to Doubtful

March 14, 2017
Article by:

Albany, NY - Capitol Building

The Governor’s budget bill has encountered resistance up in Albany, sources say, specifically Part EE that aimed to amend New York’s banking law and impose sweeping licensing restrictions on all types of lending and finance. Analysts felt that the language could have vast unintended consequences beyond just online lenders, including factoring, commercial lenders and brokers, […]

View Post

On The Line With BlueVine After a Big Year

March 13, 2017
Article by:

Blue Invoices

Helping businesses get paid on their invoices faster is a big market. So big, in fact, that when I met up with BlueVine CEO Eyal Lifshitz at LendIt last week, his company had just recently secured a $75 million warehouse credit line with Fortress. BlueVine had also just come off of a big year in […]

View Post

New York’s State Government is Competing With Online Lenders on Pay-Per-Click and Misinforming Small Businesses

March 10, 2017
Article by:

ny small business loan search

Move over online lenders, New York’s financial regulator is apparently shelling out big bucks to steer away New York’s online small business loan searchers to THEMSELVES. As someone who has historically kept tabs on Google’s search results for lending related keywords, this new result is one of the more interesting developments I’ve seen yet. From […]

View Post

Brief: Former CAN Capital CFO Moves On

March 9, 2017
Article by:

news

According to the WSJ, Aman Verjee, who was CAN Capital’s CFO up until late last year, has taken the COO position at 500 Startups. The company has invested in more than 1,800 startups across more than 60 countries. According to the website, “500 Startups was founded in 2010 by former PayPal and Google alumni Dave […]

View Post

In Canada, Alternative Business Finance Industry Similar, Yet Different

March 8, 2017
Article by:

Canada

David Gens believes the top 3 alternative small business finance players in Canada are funding between $15 million and $20 million to small businesses a month combined. That’s a small market compared to the US, where the top 3 companies are funding close to a half billion dollars per month. Gens, who has a background […]

View Post

Kabbage Prices $525 Million Securitization; Anticipates “A(sf)” Rating on Its Debt

March 8, 2017
Article by:

Kabbage

Facility to Enable Expansion of Product Mix for Larger Businesses Kabbage®, a pioneering financial services, technology and data platform, today announced that on March 7, 2017, it priced $525 million of fixed-rate, asset-backed notes in a private securitization transaction. The facility is expandable to $1.5 billion. The notes will be issued in four classes by […]

View Post