This is a press release account. Content posted by me are not editorials or promotions. Share your press release with us at info@debanked.com | (212) 220-9084

Articles by Press Release

rss feed

Northteq’s January Product Release Delivers Enhanced Lending and Pricing Solutions

January 23, 2024
Article by:

Featuring TValue-Powered Pricing Models and Advanced Partner Portal Capabilities

MINNEAPOLIS, MINNESOTA (January 23, 2024) – Northteq, Inc., a leading provider of Salesforce loan origination solutions, is thrilled to announce a range of new features and enhancements in our January Product Release. This release focuses on making operations smoother, expanding financial product options, and improving vendor and partner collaboration. It is all about making things better and easier in the world of equipment finance. We are excited about continuing to evolve our Aurora LOS and Partner Portal and know these enhancements will open new possibilities for our clients. Here is a glimpse of what we are rolling out:

Expanded Product and Pricing Offerings

  • Enhanced Asset-Based Pricing: We are transforming the way you price in Aurora. The updated asset-based pricing feature, powered by TValue, allows for individualized pricing of each asset with different rates, residuals, and more. Asset pricing can be rolled up on the application or into a blended rate as suits your business needs.
  • Line of Credit Capabilities: Introduce new revenue streams with our Line of Credit product featuring the same automated credit decision-making in Aurora that you love. After approval, you can auto-approve an application against an approved borrower line of credit.
  • Enhanced Residuals: Experience a breakthrough in pricing flexibility with advanced residual pricing tables that accommodate both currency amounts and percentages, automatically calculating the corresponding value on the equipment record. The dynamic residual pricing feature enhancement is seamlessly integrated into program residuals, improving reliability and efficiency of pricing and quotes.
  • Flexible Payment Frequency Options: Updated to offer a multi-select field, catering to a wider range of client preferences and requirements.

Vendor and Partner Portal Advancements

  • Vendor Enabled TValue Pricing: We’re supercharging our Aurora Partner Portal with TValue’s industry-leading calculations and data. This means more accurate quotes and risk-based pricing options, right at your vendor’s fingertips.
  • Streamlined Partner Portal Quotes: Improved integration and handling of quotes from the Partner Portal to the LOS for better efficiency and accuracy.
  • Single-Page Borrower Application: An updated, more intuitive application process designed to improve completion rates and user satisfaction.

But that’s not all. We’re also rolling out enhancements across our Salesforce partner apps and integrations including Ocrolus, Middesk, TValue, Paynet, Experian, Transunion, Equifax, and OFAC. Expect improvements in user experience, performance enhancements, and essential bug fixes.

Our January 2024 release is part of Northteq’s continuous commitment to refining and advancing our platforms. As we innovate and adapt, we look forward to more impactful enhancements in our upcoming releases this year, each one bringing fresh advancements to the industry. This update is a key part of our ongoing mission to align our technology with the ever-changing market needs and to continuously improve the equipment finance lending experience. Check out the full list of upgraded products and features here.

This is just the beginning of what we have planned for the year. Stay tuned for what’s next at Northteq – we’re just getting started on a year full of innovation!

About Northteq

Northteq, Inc. is a Minneapolis, Minnesota-based fintech company that has helped over 175 lenders provide their customers, vendors, and employees with intuitive, thoughtfully designed lending solutions. Aurora, Northteq’s flagship product, is an automated, Salesforce powered loan origination system and partner portal. They also offer turnkey Salesforce apps created through key partnerships with fintech industry leaders including Middesk, PayNet, FICO, Equifax, Experian, D&B, TimeValue, LexisNexis, Nintex, Ocrolus, Plaid, and many more.
Northteq is now primarily owned by Arthur Ventures, a respected Minneapolis-based early growth capital firm known for leading investments in B2B software companies. This partnership positions Northteq for continued growth and innovation. Since 2013, Arthur Ventures has partnered with over 50 companies across the United States and Canada. For more information, please visit northteq.com.

# # #

Dragin Technologies Announces New President and CEO

January 11, 2024
Article by:

Dragin Technologies’ Board of Directors is pleased to announce Mark Ross as the new President & CEO. In this role, Mr. Ross will spearhead the expansion of the company’s technological capabilities, as well as its business development, sales, and marketing functions.

Mark’s journey with Dragin began following his tenure at Morgan Stanley, where, as Vice President of Strategy on the Sales & Trading desk, he developed trading tools that earned the bank millions each year. His transition to Dragin marked a turning point for the company, shifting its core focus from OCR to process automation leveraging AI and Machine Learning technologies.

At the core of Dragin’s ethos is a commitment to revolutionizing client operations. The firm’s mission is straightforward: To significantly enhance client processing speeds while concurrently reducing costs. Under Mark’s leadership, Dragin has undergone a comprehensive software overhaul, a transformation that has enhanced efficiency and equipped the company with limitless scalability.

Beyond his technological impact, Mark has also played a crucial role in driving the company’s business development and sales. His efforts have been pivotal in acquiring Dragin’s inaugural clients and forging numerous strategic business partnerships.

As Mark Ross assumes the CEO position, Dragin Technologies is poised to accelerate its growth, evolving into a formidable force in the tech industry. The company looks forward to a future of continued innovation in the process automation space, assisting clients in achieving ‘hands-free’ data processing and expanding the range of industries supported by Dragin’s products.

To learn more about Dragin, visit: https://www.dragin.io

Hundreds of Brokers Registered for deBanked CONNECT MIAMI

January 9, 2024
Article by:

deBanked CONNECT MIAMI 2024MIAMI BEACH – Hundreds of small business finance brokers are registered for this year’s deBanked CONNECT MIAMI. Taking place on Thursday, January 11 at the Miami Beach Convention Center, the event’s modified format includes the first-ever Broker Battle™ with a $5,000 grand prize to the winning broker, on top of an all-kosher food experience. That’s in addition to a featured presentation from David Goldin, the first-of-its-kind Broker Brilliance education session, tech demos, networking, and cocktails. Bitty Advance is the Title Sponsor.

“This is our sixth event in Miami,” said conference founder and deBanked President Sean Murray. “I think kicking off a new year is as good a time as ever to reinvent yourself and change things up. I’m really excited for this show and I think 2024 is going to be a truly unique year.”

Registration opens at 1pm on Thursday and the event culminates with the Broker Battle at 5:10pm. That will lead right into the cocktail networking reception.

About deBanked CONNECT Miami

deBanked CONNECT events are operated by Foinse, LLC. Foinse, LLC is an events company based in Brooklyn, NY. To learn more visit: http://www.debankedmiami.com. For inquiries, email events@debanked.com.

Levo Funding Makes Debut

January 8, 2024
Article by:

January 8, 2024 — We are excited to present Levo Funding, a new addition to the financial industry. A dynamic and innovative fintech company, Levo Funding has launched with a team of industry veterans at the helm. With a wealth of experience and a reputation for excellence, this new venture is committed to reshaping the industry.

“We are thrilled to introduce Levo Funding,” said Christopher Ives, the company’s Co-Founder and CEO. “Our team comprises industry veterans who have successfully navigated the complexities of the finance sector for years. This includes learning from our successes and our failures. We’ve come together to create a fintech company that focuses on the simplicities of what we do; help businesses access capital, and ensure that entrepreneurs and companies have the resources they need to thrive. We are committed to doing business the right way, and are looking forward to working with those that share the same values.”

Levo Funding aims to fill an emerging gap in the market by providing flexible funding options, streamlined application processes, and personalized support, while not being anchored by covenants and the increasing costs of capital. Their approach is rooted in a deep understanding of the challenges faced by businesses of all sizes, and they are committed to delivering financing solutions that empower growth and success.

As a testament to their expertise and accelerated growth, Levo Funding has already secured significant investment backing from reputable partners and investors who share their vision for the future of finance. This substantial funding ensures that the company is well-prepared to meet the capital needs of businesses across various industries.

Christopher added, “Our team’s collective experience spans various sectors, including banking, venture capital, private equity, credit and underwriting. We understand that one size does not fit all when it comes to financing. We are dedicated to tailoring our solutions to the unique goals and challenges of each client. Our team was carefully selected to build a culture of trust and encourage open communication. When people are comfortable sharing ideas, everyone wins.”

For more information about Levo Funding, please visit levofunding.com. Stay updated on their latest developments and news by following them on Linkedin.

Contact
(619) 908-1372
info@levofunding.com

Expansion Capital Group Announces $1 Billion Funding Milestone — Supporting the Expansion of U.S. Small Businesses

December 13, 2023
Article by:
Expansion Capital Group
Expansion Capital Group’s Executive Leadership Team
L-R: Herk Christie, Chief Operating Officer; Brittney Newell, Chief Financial Officer; Vincent Ney, Chief Executive Officer;
Tim Mages, Chief Strategy Officer; Mike Beattie, Chief Technology Officer

Photo Credit: Reistroffer Design

SIOUX FALLS, SOUTH DAKOTAExpansion Capital Group, LLC (“ECG”) is pleased to announce its billionth dollar in funding, reinforcing its mission to support the “Expansion” of America’s Small Businesses with simple and efficient capital. Since inception in 2013, ECG has provided services to over 20,000 small businesses across multiple industries nationwide. ECG’s core solution, a six to 11 month working capital product, meets the needs of small business owners that are not in a position to wait for a traditional bank loan.

Tim Mages, Chief Strategy Officer of ECG said, “The ECG team is proud of its efforts to fulfill the capital needs of small business owners. Capital challenges have been magnified since COVID and the recent muted lending environment by regional and community banks. During the last three years, inflationary pressures have negatively impacted many hardworking small business owners. ECG has continued to be a reliable partner and a key resource as business owners navigate these headwinds.”

He continued, “In the last two years, we’ve seen accelerated growth of our platform. This growth is being driven by two key factors. First, our industry-leading Partner Portal is designed to create a transparent and seamless process for our referral partners. Second, investments in new technology and data sources have positioned ECG to provide underwritten approvals in less than an hour. These innovations would not have been possible without the trust of our valued customers and dedication of our 85+ team members.”

ECG’s Chief Operating Officer, Herk Christie, said, “Paramount to our success is the support from our referral partners. Since inception, we’ve also seen over one million applications from small business owners. Our financing alternatives provide business owners with more options and availability, so they can successfully execute their business objectives.”

As an on-balance sheet working capital provider, ECG is committed to providing customized solutions for small businesses. ECG works directly with small business owners and with hundreds of referral partners who are trying to meet their clients needs. ECG utilizes proprietary data, analytics, and systems to provide access and capital in a timely manner. Its robust underwriting models and flexible Partner Portal platform allows business owners to compare options and select a product that fits their needs.

Brittney Newell, ECG’s Chief Financial Officer added, “We hope to continue this growth in the coming years and appreciate the support of our long-time capital provider Bastion Management. As many market participants have tightened lending standards throughout 2023, ECG is committed to continuing to meet the increased demand for our services and offerings.”

PR Contact: tamara@tamaraedwards.co

###

Expansion Capital Group is headquartered in Sioux Falls, SD and operates as a technology-driven specialty lender harnessing data and analytics to offer tailor-made solutions for small business enterprises. The company primarily serves small businesses across the United States with annual revenues of less than $10 million. For more information, please visit www.ecg.com and follow us on LinkedIn and Twitter.

Recent ECG News

Sioux Falls Business Journal: Fast but careful money: Sioux Falls firm offers new kind of capital

Inc. 5000: Financial services firm partnering with small business owners to provide working capital solutions with speed, simplicity and service.

ELFA Wins Nationwide Relief from Section 1071 for Equipment Finance Industry

October 26, 2023
Article by:

section 1071WASHINGTON, D.C., October 26, 2023 – In a major victory for members of the Equipment Leasing and Finance Association and the entire equipment finance industry, today the U.S. District Court for the Southern District of Texas issued a nationwide injunction delaying implementation of Section 1071 for all covered financial institutions. This action is in direct response to the efforts of ELFA and the other parties that intervened in the case in recent months. Functionally this means that the deadlines for compliance with Section 1071 are delayed by approximately 10 months for all ELFA member companies.

In response to the Court Order, ELFA President and CEO Ralph Petta said, “This is a big win for ELFA members and the equipment finance industry as a whole. We applaud the action taken by the court today, which underscores the value of our association’s ongoing efforts to ensure Section 1071 doesn’t make it more burdensome for our members and their customers in the $1 trillion equipment finance industry to do business together.”

Earlier this year the court had issued a partial injunction in response to litigation filed by Rio Bank, the Texas Bankers Association and the American Bankers Association. That initial injunction had, until that point, only covered those three entities. In August ELFA intervened in the lawsuit to ensure that the initial relief provided by the judge would apply equally to all ELFA members.

The action taken by the court today broadens the injunction to delay implementation of Section 1071 for all financial institutions covered by the rule. The delay will last until the Supreme Court issues a decision in a different, but related, case. The Supreme Court decision is expected in the spring/summer timeframe of 2024. This means that compliance will likely now be pushed out approximately 10 months from all the dates published in the original rule.

ELFA has been working for over a decade to improve Section 1071. The association has been proactively engaged in both the legislative and regulatory arenas to defend its members’ interests and reduce the measure’s onerous reporting regulations. Section 1071 is a part of the Dodd-Frank Act, which when implemented by the Consumer Financial Protection Bureau (CFPB) will require commercial finance companies to collect information about credit applicants and report it to the CFPB on an annual basis, along with extensive financial data associated with the application’s disposition, including extensive pricing information.

The “Order Granting Intervenors’ Motions for Preliminary Injunction” is available on the ELFA website at https://www.elfaonline.org/1071. ELFA will be sharing more information with its members in the coming days and weeks about the implications of this ruling.

About ELFA

The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 580 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. ELFA has been equipping business for success for more than 60 years. For more information, please visit www.elfaonline.org.

# # #

Media/Press Contact: Amy Vogt, Vice President, Communications and Marketing, ELFA, 202-238-3438 or avogt@elfaonline.org

ELFA Announces Leigh Lytle as New President and CEO

October 23, 2023
Article by:

leigh lytlePHOENIX, ARIZONA, October 23, 2023 – The Equipment Leasing and Finance Association (ELFA) today announced the appointment of Leigh Lytle as President and CEO, effective Dec. 4, 2023. ELFA Board Chair Bob Neagle made the announcement this morning at the General Session of the 62nd ELFA Annual Convention in Phoenix, Arizona. Lytle will succeed Ralph Petta, who is retiring from the association at the end of the year.

“We are pleased to welcome Ms. Lytle to ELFA as our new President and CEO,” said Neagle. “Leigh is a dynamic leader whose experience, passion and vision make her uniquely qualified to guide our association into the future. Her experience in banking, operations, advocacy and education, and most recently with a fintech company and a fintech trade association, will add momentum to our current ELFA efforts in those same areas. After conducting a national search, we are delighted with this outcome and the opportunity it offers our organization. I would like to thank our search committee for their tremendous work throughout the process.”

As the Head of North American Policy at Plaid, Lytle led education and engagement efforts with regulators and financial institutions. In this role, she advocated for protecting consumers’ rights within the digital financial ecosystem and in Washington, D.C. She also served as the Chair of the Board of Directors of the Financial Technology Association (FTA), which represents innovative companies shaping the future of finance. The industry trade group champions the power of technology-centered financial services and advocates for the modernization of financial regulation to support inclusion and responsible innovation. Before joining Plaid, Lytle spent over 15 years in the Federal Reserve Bank system in various executive roles ranging from engagements in monetary and regulatory policy to operations and data analytics oversight.

“I am honored to be joining the Equipment Leasing and Finance Association as the organization moves into its next phase and navigates the digital landscape and abundant opportunities on behalf of our members,” said Lytle. “The association has an incredible board, members and team championing this critical sector that adds tremendous value to the American economy. I am proud to join the ELFA staff to build on the solid foundation established by Ralph Petta and the team, and look forward to meeting with and working with our members in the coming months.”

About ELFA

The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.

###

Media/Press Contact: Amy Vogt, Vice President, Communications and Marketing, ELFA, 202-238-3438 or avogt@elfaonline.org

Lending Industry Expert Joe Valeo Appointed President of SmallBusinessLoans.com

October 20, 2023
Article by:

NEW YORK SmallBusinessLoans.com (SBL) is pleased to announce the appointment of Joe Valeo as its new President. With over 35 years of experience in finance and sales, Valeo brings a breadth of knowledge to his executive leadership role at SBL, where he is committed to making the “right fit” lending solutions more accessible to small business owners.

In his previous positions, Valeo gained strategic development and consumer/business lending experience, serving financial services organizations such as LendingPoint, where he held the position of EVP/GM for POS merchant lending and direct-to-consumer loans. Before that, at Capital Access Network, he led sales strategy and management. His extensive background in payment services to merchants at First Data Corporation and Citicorp, managing e-commerce, ISOs, and franchises, as well as his experience managing acquirer and issuer relationships with key financial institutions at VISA, uniquely positions him to lead SBL to new heights.

Valeo’s vision for SmallBusinessLoans.com is straightforward and ambitious. His growth strategies include connecting with his deep finance industry network and implementing financial and business solutions to meet SMBs’ needs.

With his leadership, SmallBusinessLoans.com is positioned to:

  • Be the preeminent destination for small businesses seeking financing and related business services digitally. The SBL platform cuts out time-consuming research and matches small businesses with trusted lenders who offer a variety of financing to suit every business need.
  • Provide a simple, efficient application journey to help small businesses qualify for the right product and solution, ensuring easy access to financing and business services.
  • Assist business owners in meeting immediate financing needs, helping them thrive in the long run. SBL serves various industries, including agriculture, commercial trucking, construction, landscaping, medical practices, and more.

Known for his problem-solving skills and quick thinking, Valeo is excited about leading a team of dedicated bridge-builders who will connect businesses and consumers to the funding they need to build their businesses and improve their lives. His commitment to customer-centric solutions makes him an ideal fit for SBL.

Valeo expressed his enthusiasm for his new role, “I strongly believe we’re doing something special, different, and market leading. Our mission is to provide a simple and easy way for businesses to access financing and business solutions.”

As passionate advocates for small businesses, Valeo and the SBL team are eager to converse with potential partners and business owners seeking small business financing and operations solutions.
For more information and to connect with us, please visit us at: www.SmallBusinessLoans.com.

About SmallBusinessLoans.com (SBL)
SmallBusinessLoans.com (SBL) helps small business owners connect with their best financing solution. With a commitment to simplifying the lending process and making it easy for business owners to find trusted, reliable lenders, the SBL platform matches business owners with lenders who offer fast funding, flexible terms, personalized options, and more to help small businesses thrive. SBL aims to become the go-to digital destination for small businesses seeking financing and business services. For more information, go to www.SmallBusinessLoans.com
Contact:
Susan Almon-Pesch
sue@speschialpr.com
858-205-0516