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




How Lendio Reached $250 Million in Funded Transactions On Its Platform. Hint: Partnerships


The company also joined hands with digital marketing firm Townsquare Media in cross-promoting products and services and marketing Lendio’s platform

Read on deBanked | By: Srividya Kalyanaraman




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




Marlette Closes Proprietary Securitization Deal Worth $205 Million


In July, Marlette securitized personal loan bonds worth $180 million in Single A notes rated by Kroll Rating Agency.

Read on deBanked | By: Srividya Kalyanaraman




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




With Goldman Sachs’ Entry Into Online Lending Looming, Peer-to-Peer Lending is Deader Than Dead


When I first started writing about Lending Club and Prosper years ago, I was intrigued by the ability for everyday average Americans to have the opportunity to earn the yield of a credit card company. It was peer-to-peer or close enough anyway, and the allure was that you became the judge, jury and underwriter of

Read on deBanked | By: Sean Murray




Non-prime Lender Elevate Expands Credit Facility to $545 Million


Elevate lends to non-prime borrowers with products like ‘Rise,’ an unsecured personal loan and ‘Elastic,’ a bank-issued line of credit in the US and ‘Sunny,’ a short-term loan product in the UK.

Read on deBanked | By: Srividya Kalyanaraman




National Funding Deploys $1.5B, Beefs up Automated Underwriting


National Funding generates 25 percent of loan volume through broker deals but is pushing more towards holding their loans.

Read on deBanked | By: Srividya Kalyanaraman




Percentage of Future Income Repayment Meets Student Loans


While a crop of alternative student loan lenders like Commonbond and SoFi attract borrowers with cheaper loans and refinancing options, Vemo wants to price college better.

Read on deBanked | By: Srividya Kalyanaraman




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




Amazon and Wells Fargo Shake Hands on Student Loans. Who is Surprised?


The bank will shave half a percentage point off the interest rate for referrals from Amazon Prime Student.

Read on deBanked | By: Srividya Kalyanaraman




Brief: Lending Marketplaces Bizfi and Lendio Forge New Partnerships


Lending marketplaces Lendio and Bizfi establish new partnerships to expand user base.

Read on deBanked | By: Srividya Kalyanaraman




Jefferies revisits Lending Club Deal, Marlette Completes Second ABS


Time and again we have had heard industry folks harp on about diversification of capital being the need of the hour. Well, that hour is here, it seems like.

Read on deBanked | By: Srividya Kalyanaraman




World Business Lenders Wants To Take On The World of Business Lending, From Jersey City


Above, company CEO Doug Naidus poses alongside state and local community leaders for World Business Lenders’ ceremonial ribbon cutting On the thirty third floor of the third tallest building in the state of New Jersey, World Business Lenders’ (WBL) CEO Doug Naidus spoke of another third to a crowd of several hundred people. WBL, which

Read on deBanked | By: Sean Murray




Square Sets Foot in UK with Squareup Europe


The payments company foraying in UK by incorporating Squareup Europe Ltd in London early last month.

Read on deBanked | By: Srividya Kalyanaraman




Confidence Down, But Not Out On Continued Success of Small Business Finance, Survey Reveals


A joint Bryant Park Capital/deBanked survey of chief executives in the small business lending and merchant cash advance space showed a decline in confidence in the industry’s continued success, down from 91.7% in Q1 to 78.5% in Q2. Respondents were not asked to explain the reasons behind their confidence levels, but increased competition is likely

Read on deBanked | By: Sean Murray