Sean Murray

Articles by Sean Murray

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Mayor Rahm Emanuel Cuts Ribbon for 160% APR Online Lender

October 11, 2017
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Mayor Rahm Emanuel

Chicago Mayor Rahm Emanuel cut the ceremonial ribbon at OppLoans’ new headquarters in Chicago this week. The APR of a typical installment loan is 160% APR in many states, according to the OppLoans website. In South Carolina, a typical loan is listed as 199% APR over 9-18 months. Today we cut the ribbon on @OppLoans' […]

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Google Restricts Ads for Merchant Cash Advances

October 8, 2017
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google search

Google’s quest to stamp out payday loan advertisements from its paid search results has caused collateral damage to merchant cash advances. That’s because the two-word term cash advance, often synonymous with payday loan, appears to now have a blanket restriction that blocks ads whenever that term is included in search, regardless of the words that […]

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Dear MCA and Business Loan Brokers, It’s Time

October 5, 2017
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it's time

It’s been two years since the Year of the Broker was published. And it’s been many more than that since the last time I brokered a deal myself. Though I’ve only been writing about merchant cash advances (MCAs) and non-bank business loans for seven years here, my involvement in that industry started more than a […]

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ISOs Alleged to Be Partners in Debt Settlement “Scam” in Explosive Lawsuit

September 28, 2017
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cartoon

ISOs and brokers referring deals to debt settlement companies should pay attention to a lawsuit that was filed in the New York Supreme Court on Wednesday. In it, plaintiffs Yellowstone Capital and EBF Partners (“Everest Business Funding”) allege that certain ISOs are culpable partners in a scam that nefarious debt settlement companies are perpetrating on […]

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Funders and Lenders are Relying More on Brokers, Survey Finds

September 27, 2017
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ISOs increase or decrease

Business lending and MCA CEOs are not finding it easy to reduce their dependence on brokers, the latest Bryant Park Capital/deBanked survey results suggest. In a past survey conducted in Q4 2015, respondents indicated that an average of 46% of their business came from external sources/ISOs versus internal marketing. 44% of respondents also reported at […]

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Confidence in MCA and Online SMB Lending Industry Ticks Up

September 26, 2017
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confidence index q3 2017 mca and business lending

The latest industry CEO survey conducted by Bryant Park Capital and deBanked showed that confidence in the continued success of the SMB lending/MCA industry is coming back. Confidence had a hit a low of 73.8% in Q1 of this year, the lowest point since the survey started in 2015. In Q3, the number jumped up […]

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Bizfi Survives, Thanks to World Business Lenders Asset Purchase Deal

September 22, 2017
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World Business Lenders - Bizfi

The Bizfi marketplace is slated to live on, according to Stephen Sheinbaum who joined World Business Lenders (WBL) as a managing director in July. On Wednesday, WBL purchased several assets from Bizfi including the brand, the marketplace, the Next Level Funding renewal book, and other related pieces of the company, he says. Sheinbaum founded Bizfi […]

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C-level Credit Exec Leaves Lending Club for Affirm

September 21, 2017
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business team

Lending Club’s Chief Credit Officer and Interim General Manager, Sandeep Bhandari, has joined fintech lender Affirm, according to Affirm CEO Max Levchin. Levchin posted the following on LinkedIn: I am excited to announce and welcome Sandeep Bhandari to Affirm, Inc. as Chief Strategy and Risk Officer (CSRO). Sandeep joins us from Lending Club where he […]

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CFPB’s Small Business Lending RFI is Now Closed

September 18, 2017
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Rich Cordray CFPB

The window to share your two cents on the CFPB’s quest to collect data on small business lending has closed. The extended deadline to respond to the RFI was September 14th. The agency received 2,668 comments, 650 of which you can read online. Most responses that deBanked reviewed asked the CFPB to exempt certain businesses […]

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The Top Small Business Funders By Revenue

September 14, 2017
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revenue rankings

Thanks to the Inc 5000 list on private companies and earnings statements from public companies, we’ve been able to compile rankings of alternative small business financing companies by revenue. Companies that haven’t published their figures are not ranked. SMB Funding Company 2016 Revenue 2015 Revenue Notes Square $1,700,000,000 $1,267,000,000 Went public November 2015 OnDeck $291,300,000 […]

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