Articles by deBanked Staff

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MCA Company Files Suit Against Debt Settlement Company

January 16, 2017
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New York Supreme Court

Plaintiffs Pearl Gamma Funding, LLC and Pearl Beta Funding, LLC (Pearl) aren’t happy with what a debt settlement firm is allegedly telling their customers, according to a complaint filed in the New York County Supreme Court in November. “Creditors Relief LLC researches customers who have entered into Merchant Agreements with Pearl, solicits them throughout the […]

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The Small Business Lender Rankings (A preliminary peek)

January 4, 2017
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Small Business Lender Rankings

Here’s a peek at how some of the industry’s largest alternative small business lenders were doing for the year in originations as they headed into the last quarter of 2016. This data should be considered an estimate and is obviously not comprehensive. Still, this should give you a clue where some players will end up: […]

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Platinum Rapid Funding Group Originated $180 Million in 2016

January 3, 2017
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Platinum Rapid Funding Group Uniondale, NY

A social media post by Platinum Rapid Funding Group CEO Ali Mayar, revealed that the Long Island-based company had originated $180 million in deal flow in 2016. That’s almost twice their 2015 volume, and is a new record for the company. In Mayar’s post, he wrote, “Thank you to everyone who’s a part of this […]

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CAN Capital Shareholder Files Lawsuit

December 25, 2016
Article by:

court ruling

Add an aggrieved shareholder to the list of CAN Capital’s recent messes. On December 19th, Deborah Clearman filed a motion for summary judgment in lieu of a complaint in the New York Supreme Court, alleging that CAN had failed to comply with a settlement agreement that stipulated she be paid $150,000 by November 14, 2016. […]

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Citizens Bank to Use Fundation’s Tech and Services in 2017

December 21, 2016
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banks

Fundation is back at it, this time announcing a deal with Citizens Bank to offer “digital lending capabilities to small business customers.” According to a press release: The added capability will enable small businesses to apply for loans and lines of credit through a simple online application at citizensbank.com. In most cases approval is provided […]

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Online Consumer Lender Argon Credit Files Chapter 11

December 20, 2016
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sorry we're closed

“Decisioning as a Service (DaaS), specifically the commercialization of Argon’s machine learning algorithms, is being developed to revolutionize the way credit is evaluated for the entire industry.” That’s according to a press release put out by Chicago-based Argon Credit 19 months ago. The company filed for bankruptcy on Friday, December 16th. Argon offered loans from […]

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A Q4 To Remember – A Timeline

December 18, 2016
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timeline of alternative finance

This article is from deBanked’s Nov/Dec 2016 magazine issue. To receive copies in print, SUBSCRIBE FREE In case you haven’t noticed, it’s been an interesting few months for alternative finance. The below timeline is an expanded version of what appears in the print version of our Nov/Dec magazine issue. 9/27 Able Lending secured $100 million […]

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+1 for Swift Capital, -1 for Lending Club

December 15, 2016
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news

Swift Capital has named Tim Naughton as Chief Legal Officer, according to a company announcement on Thursday. “Prior to joining Swift Capital, Naughton advised Bank of America’s small business lending and deposit services as assistant general counsel and senior vice president,” it says. “He served as external counsel for American Express and Sallie Mae, and […]

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AI Sales Assistant Penetrating Alternative Finance Raises $34 Million in Series B Round

December 15, 2016
Article by:

digital brokers

Wondering how your competition always seems to be so on top of their game? They might be using an artificially intelligent sales assistant. Such technology was reported on last month when deBanked learned that it had penetrated the alternative business financing industry through at least one company named AI Assist. AI Assist is powered by […]

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RapidAdvance’s Mark Cerminaro is deBanked’s November/December Cover

December 14, 2016
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Mark Cerminaro of RapidAdvance

It’s been a quick rise for Mark Cerminaro, who won the 2016 Commercial Finance Association’s 40 Under 40 Award and is the Chief Revenue Officer of RapidAdvance based in Bethesda, MD. He is featured in the November/December issue of deBanked magazine that is currently being delivered to subscribers nationwide. If you haven’t already subscribed, you […]

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