Archive for 2017

The Secret to Reviving Your Alternative Lending Business

April 14, 2017

programmer

It’s no secret times are changing for Small and Medium Enterprise (SME) lending. I think we can all agree the easy return on investment has given way to rising defaults and an origination engine that sounds like it’s barely chugging along. We all know the basic math in this business. Put lots of money on […]

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4th Alleged Co-conspirator in Fake Debt Settlement Company Arrested

April 14, 2017
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handcuffs and money

A 4th individual has been arrested in connection with the alleged business loan debt settlement fraud perpetrated by Corporate Restructure Inc. Vanessa Cardona a/k/a Emily Goldstein, was arrested right outside of Scardale, NY in February and charged with mail fraud. According to the criminal complaint, she and her main accomplice, Sergiy Bezrukov a/k/a John Butler, […]

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81% of Online Business Lending Borrowers Report Being Satisfied or Neutral

April 12, 2017
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satisfaction levels

The latest Small Business Credit Survey published by the Federal Reserve shows that 81% of small business borrowers were either satisfied or neutral about their online loan experience. Online lenders were defined as nonbank alternative and marketplace lenders, including Lending Club, OnDeck, CAN Capital, and PayPal Working Capital. Of the 19% that were dissatisfied, nearly […]

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Sneak Peek at the Mar/Apr 2017 Issue of deBanked

April 11, 2017
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Mar/Apr 2017 deBanked Tease

In the March/April 2017 issue of deBanked magazine, we delve into the industry’s latest trend, the push back towards traditional banking. The featured story is titled accordingly as “Re-Banked” and our many sources lay out a compelling narrative. Our cover, a sketch of a young tech CEO shedding the hoodie to reveal the suit-and-tie attire […]

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For Factoring, Different Spin, Same Issues as MCA

April 10, 2017
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Factoring Conference

They called it the 2017 Factoring Conference, but an MCA professional would’ve hardly noticed. On the agenda was news about Dodd-Frank’s Section 1071, the now-dead NY lending legislation, usury litigation, confessions of judgment, stacking, fintech and gripes about brokers. And yet factors and MCA companies still largely live separate lives. The underlying differences between the […]

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Can Factors and MCA Companies Get Along?

April 7, 2017
Article by:

Cowboy

At the factoring conference in Fort Worth, TX on Thursday, the 2 PM panel was officially called The Fintech Disruption. But it could’ve just as easily been named The MCA Disruption considering that the panelists all ran companies engaged in either unsecured business lending or MCA. The tension in the packed room was palpable. For […]

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Lending Club to Beta Hardship Plans for Borrowers (and Protect Returns for Investors)

April 5, 2017
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Scott Sanborn - Lending Club

Lending Club wants to make it easier to accommodate borrowers facing hardship and in the process potentially protect the investor from unnecessary losses. A full explanation of the program was sent out to Lending Club investors on Wednesday, the full text of which we’ve pasted below: At Lending Club, we are committed to improving experiences […]

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Lights Out for New York’s Attempt to Impose Stricter Lending Rules

April 5, 2017
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Albany, NY - Capitol Building

In a late night session on Tuesday, and days past the budget deadline, the New York State Senate voted 58-2 in favor of a key budget bill. Noticeably gone from it was Part EE, which would’ve imposed stricter licensing requirements on not only just lending, but also other forms of finance. Part EE was originally […]

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Did UCC Lead Generators Overload NY State’s System?

April 4, 2017
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overload

In the small business finance industry, New York State is known as one of the friendliest places to conduct a UCC search. You can not only search by debtor, but also by secured party, and get just about everything you need to create a list of prospects for free. But the State’s website isn’t exactly […]

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AMA Recovery Group Announces Joshua Pena as Director of Client Relations

April 4, 2017
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AMA Press Release

Houston, TX — We are pleased to announce Joshua Pena has been brought on board to oversee our client services in the capacity of Director of Client Relations. Josh brings over 15 years of customer relations and operations experience to our team. Prior to joining AMA, Josh served as Vice President of Operations for a […]

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