Sean Murray

Articles by Sean Murray

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How Banks Are Coming Back to SME Lending (Summary)

March 6, 2017
Article by:

Julie Chen Kimmerling, Chase - Brock Blake, Lendio - Nadeem Tufail, Bank of America

The banks are no longer sitting on the sidelines of small business lending. At LendIt on Monday, Panelists featuring representatives from two of the biggest banks in the country, reminded young upstarts that they intended to be the primary capital sources for small businesses. Unlike JPMorgan Chase which partnered with OnDeck, Bank of America (BoA) […]

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With Clock Ticking, Members of the Commercial Finance Coalition Journeyed to the New York State Capitol

March 5, 2017
Article by:

Albany, NY Capitol Building

With less than a month to go until New York State’s budget deadline, members of the Commercial Finance Coalition (CFC) traveled to Albany, NY last week to address a vague and confusing licensure proposal put forth by Governor Cuomo. According to the CFC, nobody from the New York Department of Financial Services, the governor’s office […]

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Letter From the Editor – Jan/Feb 2017

March 4, 2017
Article by:

debanked-jan-feb-17

This article is from deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE When deBanked first launched online in 2010, I thought it was too late, that perhaps all the exciting changes in alternative finance had already taken place and that aside from a few obsessed geeks, there wasn’t that big of […]

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I Got Funded, OMG I’m a Merchant!

March 3, 2017
Article by:

OMG

This article is from deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE I’ve read the press releases, interviewed the executives, and written the summaries about the latest and greatest innovations in alternative finance. I’m the guy that’s supposed to know how everything in this industry works, but do I REALLY REALLY […]

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See You At LendIt

March 3, 2017
Article by:

Peter Renton, Chairman and Co-Founder
LendIt,  speaking to LendIt USA 2016 conference in San Francisco, California, USA on April 11, 2016. (photo by Gabe Palacio)

Monday kicks off the LendIt conference at the Javits Center in NYC. Given that it’s the biggest event of the year for the industry, I certainly hope to meet as much of you there as possible. If you still haven’t registered, make sure you at least take advantage of a 15% discount by using promo […]

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Prosper, A Marketplace for the World’s Richest Banks and Billionaires?

February 28, 2017
Article by:

gold

Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, and funds tied to some of the world’s richest billionaires (including George Soros) all make up the “consortium of institutional investors” and “syndicate of lenders” involved in Prosper’s recently announced landmark deal. The terms allow for the investors to purchase up to $5 billion of loans on […]

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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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