Sean Murray

Articles by Sean Murray

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Confidence Stable For Small Business Lenders and MCA Companies

February 26, 2017
Article by:

CEO Industry Confidence Index

Recent events may be putting a slight damper on the confidence of industry CEOs in being able to access capital needed to grow their businesses, but continued success of the industry in general is ticking back up. This data is according to the latest survey conducted by Bryant Park Capital and deBanked of small business […]

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Prospa, Now Valued at $235 Million, is a Major Online Small Business Lender

February 22, 2017
Article by:

deBanked Down Under

Online small business lending in Australia is taking off, especially for Sydney-based Prospa, who according to the Australian Financial Review, has slightly more than half of the industry’s market share. The company just announced a $25 million (AUD) equity round led by AirTree Ventures that pegged Prospa’s value at $235 million (AUD). Prospa is significant […]

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‘Peers’ Continue Retreat from Lending Club

February 18, 2017
Article by:

escape

The peer aspect of peer-to-peer lending continued to erode last year, according to Lending Club’s year-end earnings presentation. Self-managed individuals, those still making their own investment decisions, only made up $263 million of their 4th quarter’s origination volume, reaching the lowest level in two years. That’s nearly 38% lower from the peak of $419 million […]

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Layoffs, Big Losses for OnDeck in Q4

February 16, 2017
Article by:

red ink

OnDeck weathered a brutal fourth quarter driven largely by an increase in provision for loan losses which increased to $55.7 million, up from $20.0 million in the comparable prior year period. $18.7 million of this can be attributed to loans with original maturities of 15 months or longer whose performance has deviated or is expected […]

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‘Debt Collection Terrorist’ Wants FCC to Get Rid of Implied Consent in TCPA

February 9, 2017
Article by:

No calls

Craig Cunningham, the serial TCPA plaintiff who once aspired to author a book titled, Tales Of A Debt Collection Terrorist: How I Beat the Credit Industry At Its Own Game and Made Big Money From the Beat Down, now wants to make it easier to sue for TCPA violations. Cunningham appeared in a deBanked story […]

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What Shakeout? Breakout Capital Secures $25 Million Credit Facility

February 8, 2017
Article by:

Carl Fairbank, CEO of Breakout Capital

Put a tally up on the board for small business lenders in 2017. McClean, VA-based Breakout Capital, which just announced a move into a larger office last week, has also secured a $25 million credit facility with Drift Capital Partners. Drift is an alternative asset management company. Breakout is young by today’s industry standards, founded […]

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SoFi Plays It Safe With Super Bowl Ad – And Kind of Wants to Be Your Bank

February 6, 2017
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SoFi Commercial

“Here’s to conquering more together in 2017,” SoFi’s Super Bowl ad asserts. The company wants to help you own a home, start a family and see the world. They essentially want to be your bank for life, and now that their acquisition of Zenbanx allows them to offer checking accounts, they pretty much can be. […]

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New York’s Proposed Budget Slips In Sweeping Regulation of Non-bank Business Lending and Finance

January 28, 2017
Article by:

Albany Capitol

In New York, Governor Cuomo’s 309-page budget proposal includes a handful of sentences tucked in towards the end (Part EE) that would revise Section 340 of the state’s banking law. And the implications are broad, given that it calls for any person or entity involved in the soliciting, arranging or facilitation of business and consumer […]

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If a Bank Made the Loan in California, It Doesn’t Matter What Happened Next, Federal Court Holds

January 27, 2017
Article by:

court ruling

There’s no reason to examine whether a party intended to enter into a usurious loan if there is a constitutional exemption that permitted the lender to make the loan in the first place, a federal court in California’s central district ruled. In Jamie Beechum et al. v. Navient Solutions, Inc. et al, a student loan […]

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This So-Hot Robot Is Launching a Marketplace Lending Hedge Fund

January 26, 2017
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Emmanuel Marot Lending Robot

LendingRobot has come a very long way since I first connected with them two years ago. Back then, CEO Emmanuel Marot was simplifying access to marketplace lending for individual investors by automating the decisions and executions. A year later, they were the first in the industry to introduce that technology via a mobile app. As […]

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