Articles by deBanked Staff

rss feed

Square Lent $251 Million to Small Businesses in Q1

May 4, 2017
Article by:

Square IPO

It was another big quarter for Square Capital, who originated more than 40,000 business loans for a total of $251 million. That’s an increase of 64% year-over-year but only up 1.2% from the previous quarter. The company had $51 million in loans held for sale on their balance sheet as of March 31st. Overall, Square, […]

View Post

Funding Circle is Closing its Forum

May 1, 2017
Article by:

Funding Circle Board

One notable remaining aspect of Funding Circle’s peer-to-peer roots has been its own online forum. If you haven’t been part of that community, you’re too late, since it’s shutting down on Tuesday. According to a forum admin, “there has been a developing trend towards a small number of investors asking questions about a narrow range […]

View Post

Alternative Lending Is Dead

April 30, 2017
Article by:

Alternative Lending is Dead

This article is from deBanked’s Mar/Apr 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE At LendIt, Kabbage co-founder & CEO Rob Frohwein, blew the roof off the house with his presentation. Titled, “Alternative lending is dead, long live data,” he explained what he believes the industry should really be about. On why the […]

View Post

What IOU Financial Revealed in its Earnings Statement

April 29, 2017
Article by:

IOU logo

2016 was a weird year for online lenders and IOU Financial, who lends to small businesses, fared no differently. Loan origination volume for the year was $107.5 million, down 26.5% from 2015. Revenues were up due to the company retaining more of their loans on balance sheet but losses were up as well. Here are […]

View Post

Nulook Capital Bankruptcy Envelops PSC

April 27, 2017
Article by:

bankruptcy court

Nulook Capital was not the only casualty of its April 4th Chapter 11 bankruptcy filing. On Wednesday, April 26th, a federal judge in a separate action issued an order aimed at one of Nulook’s alleged creditors, PSC. PSC is also a Long Island-based company engaged in the merchant cash advance business. In the order, the […]

View Post

Rough Year? Market Tells Different Story for Alternative Lenders So Far

April 25, 2017
Article by:

stocks up

A decent day for OnDeck’s stock on Tuesday was enough to place the company’s share price in positive territory year-to-date, where just about every other public online lender finds themselves as well. According to the new deBanked Tracker, Square is up more than 33% on the year and Yirendai up 19%. Even Lending Club, whose […]

View Post

FinTech Ventures Fund, LLLP Sheds More Than Half of its Shares in IOU Financial

April 22, 2017
Article by:

FinTech Ventures Fund, LLLP (“FinTech”), a major shareholder of IOU Financial, shed more than half of its holdings in the Canadian-listed company last week. The 7 million shares sold represented nearly 10% of IOU’s outstanding common shares. According to a statement: FinTech will review and monitor its options and alternatives with respect to additional acquisitions […]

View Post

Catching Up With Marketplace Lending – A Timeline

April 20, 2017
Article by:

A timeline of alternative finance

This article is from deBanked’s Mar/Apr 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE 2/17 Prospa, an online small business lender based in Australia, was valued at $235M (AUD) in a $25M capital raise Square announced funding $248 million worth of business loans in Q4 2016 2/21 A Massachusetts state court vacated a […]

View Post

Nulook Capital Has Filed Chapter 11

April 13, 2017
Article by:

chapter 11

NY-based merchant cash advance funding company Nulook Capital filed for Chapter 11 on April 4th, according to court records. They listed more than $2.6 million in creditor claims. The largest among them was a secured claim for $2 million by a specialty finance company. Two other creditors in the bankruptcy proceeding are also involved in […]

View Post

Sneak Peek at the Mar/Apr 2017 Issue of deBanked

April 11, 2017
Article by:

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 […]

View Post