Business Lending

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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OnDeck’s COO Announces Resignation Prior to Q4 Earnings

February 3, 2017
Article by:

OnDeck Capital

OnDeck COO James Hobson notified the company on Friday that he is resigning to “pursue another opportunity.” According to the 8-K filed with the SEC, it will become effective on March 15, 2017. Hobson started at OnDeck in 2011 and became the COO in 2012. The announcement comes weeks before OnDeck is expected to disclose […]

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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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Biz2Credit – Citigroup Small Business Loan Partnership Spotted

January 27, 2017
Article by:

Biz2Credit citibank

Business Insider revealed that Biz2credit and Citigroup have quietly partnered up on a website to make small business loans up to $1 million. There was no actual link to it, so we’ve found it ourselves. The link appears in several areas of Citi’s website under the small business finance category and that brings you here: […]

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New FCC Chairman Ajit Pai Has Been Critical of Serial TCPA Plaintiffs, Record Shows

January 24, 2017
Article by:

Ajit Pai

FCC Commissioner Ajit Pai is the commission’s new chairman, thanks to President Trump. A republican who believes free markets are better for American consumers than highly regulated ones, Pai is likely to offer a sympathetic ear to companies besieged by serial TCPA plaintiffs, a problem that has reached epidemic proportions in the small business finance […]

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Why Banks and Alternative Lenders Will Play Ball in 2017

January 23, 2017
Article by:

becoming a bank

The economic recession over the last decade significantly slowed banks’ willingness to approve small business loans, and the impact on small businesses’ ability to get loans from banks is still being felt today. According to the Wall Street Journal last year, big banks have decreased the number of loans to small businesses by more than […]

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New Regulations, Section 1071 of Dodd-Frank Among Them, Temporarily Frozen By Executive Order

January 23, 2017
Article by:

President Trump

Image Credit: The WhitehouseAll new regulations were frozen by President Trump’s executive order on Friday, which would include the CFPB’s plan to backdoor their way into regulating small business finance. Update 2/1/17: Disagreements abound over whether or not Trump’s recent regulatory freeze can affect the CFPB. According to the WSJ, part of this stems from […]

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The Top Small Business Lending Platform Finalists Named By LendIt

January 20, 2017
Article by:

Lendit Noah Breslow of OnDeck

The LendIt Industry Awards has named six finalists for the Top Small Business Lending Platform. They are: OnDeck Kabbage SmartBiz StreetShares Ascentium Capital iwoca OnDeck you should know by now. They are publicly traded on the NYSE under ticker ONDK. We last sat down with them in October, shortly before they announced a $200 million […]

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WEX and OnDeck Announce Strategic Partnership to Offer Financing to WEX Small Business Customers

January 17, 2017
Article by:

wex ondeck partnership

SOUTH PORTLAND, Maine–(BUSINESS WIRE)–WEX Inc. (NYSE: WEX), a leading provider of corporate and small business payment solutions, and OnDeck® (NYSE: ONDK), a leader in online lending for small business, announced a partnership in which WEX will offer business financing from OnDeck to its small business customers. WEX is a global, multi-channel provider of corporate payment […]

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Funding Circle’s New $100 Million Funding Round is a Surprise, But it’s Really Not

January 13, 2017
Article by:

UK Flag

The alternative small business lender that is arguably offering the longest terms with the lowest rates has secured a $100 Million Series F Round, according to an announcement on Wednesday. With the round led by Accel, the strong sign of confidence contradicts the sentiment felt by many in the US about their business model. In […]

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