OnDeck, Lending Club to Announce Earnings Today
Both OnDeck and Lending Club are scheduled to host their Q2 earnings calls today At 5 PM EST. For Lending Club, investors will have an opportunity to assess the damage that rocked the company in May. Back then, the sudden resignation of the CEO was brought on by a loan manipulation scandal and conflicts of
Read on deBanked | By: Sean Murray
Have You “deBanked” Yet?
If you’re not already subscribed, you can make sure that you receive the July/August 2016 edition in print by subscribing here. Among the featured stories and content are: The role of MCA/business-loan brokers around the world contrasted with the U.S. The continued growth of alternative commercial finance How to grow an MCA or business loan
Read on deBanked | By: Sean Murray
Square Capital Revs Up, Funds $189M to Small Biz in Q2
Square is proving that the business loans sector is still hot, especially since their payment processing ecosystem requires nearly no marketing budget to advertise Square Capital. With $189 million funded in Q2, a growth of 123% year-over-year, their shift from merchant cash advances to loans seems to have had the desired effect since they have
Read on deBanked | By: Sean Murray
California Finance Lenders Law Licensing Compliance for Merchant Cash Advance Financiers
Since the Richard B. Clark v. AdvanceMe Inc. class action case settlement was brought to the awareness of the Merchant Cash Advance ("MCA") industry, many MCAs applied and obtained a California Finance Lenders Law License from the Department of Business Oversight. ("DBO") After your company obtains a California Finance Lenders Law license, it will then
Read on deBanked | By: Alan Abergel, Esq.
Hold The Loans Or “Marketplace”? It Depends
At the risk of stating the obvious, the motivation to keep loans on balance sheet or sell them off through a marketplace is related to the type of lending one does. But even then, opinions on the best strategy varies. Is there a winning formula?
Read on deBanked | By: Srividya Kalyanaraman
Cheap Leads? Don’t Robocall or Spam Your Way to Success
As the cost of acquisition goes up, you may be tempted to take a second look at cheaper forms of marketing where the laws are fuzzy. Or worse yet, maybe even where the law is clear about what not to do. And if you’re a rather small company, you may be thinking that nobody’s going
Read on deBanked | By: Sean Murray
Is Lending Club Going to Become a Balance Sheet Lender?
An email that Lending Cub sent out to many of their investors yesterday was also published on their blog. In it, CEO Scott Sanborn addressed the following questions, ones they’ve been hearing more frequently these days: “Are you going to become a balance sheet lender, just like a regular bank? Has Lending Club’s business model
Read on deBanked | By: Sean Murray
Funder or “Funda”? Either Way, The Korean Government is Worried
In South Korea, the government isn’t sure if Funda is a direct funder. Funda, which is ironically spelled like the New York pronunciation of the word, is one of several companies offering high yields to investors across their peer-to-peer lending marketplace. The average rate of return is 10.94%, according to Funda’s home page. But according
Read on deBanked | By: Sean Murray
