Business Lending

Banks Set Sights on Small Business Loans Under $100,000

December 13, 2017
Article by:

Bank

BOSTON – One of the oldest lenders in the nation had a hand in developing technology intended to enable banks to win back the small business loan market from alternative lenders. Photo credit: Mike Mozart, JeepersMedia A tech incubator at Boston-based Eastern Bank, founded in 1818, has spun off Numerated Growth Technologies Inc., a startup […]

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deBanked Connect: Miami — SOLD OUT

December 12, 2017
Article by:

debanked miami sold out

deBanked’s cocktail networking event on January 25th in South Beach is now SOLD OUT! BUT WAIT If you missed out on your chance to RSVP, you can still register for our much bigger, better, and more comprehensive event on May 14, 2018 in Brooklyn; Broker Fair 2018. With 20 sponsors already signed on, Broker Fair […]

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Closing Loans and MCAs — From the Bedroom to the Office

December 8, 2017
Article by:

working in bed

The merchant cash advance industry has gone mainstream so quickly that it has become more difficult to identify potential customers. Market saturation and industry consolidation have caused the cost of sales leads to increase sharply. Yet a New York business loan broker is finding success by applying lead generation and online marketing strategies to merchant […]

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Originations Since Inception

December 8, 2017
Article by:

growth

After several company announcements recently, we’ve compiled a milestone chart to plot where they rank. Originations may indicate business loans or MCAs funded on balance sheet, brokered, or placed through a marketplace. These rankings are a work in progress. This chart may not include companies for which public data is not available. If you’d like […]

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Kabbage Crosses $4 Billion in Loans, Taps C-Suite Exec for Intl Expansion

December 6, 2017
Article by:

Victoria Treyger, Kabbage

Above: Victoria Treyger, Chief Revenue Officer, Kabbage Alternative lender Kabbage is exiting 2017 with a bang, having just crossed the $4 billion threshold for loans deployed across more than 130,000 small businesses so far. The latest milestone represents a 30% spike in both total funding and the number of merchants on its platform since April […]

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Institutions Like American Express Are Mainstreaming Daily ACH Payments

November 30, 2017
Article by:

merchant financing

A takeover-style ad on CNN’s website rang very familiar earlier today. The ad, paid for by American Express, preached merchant financing with a fixed fee. The ad brought me to a page that offered a fixed fee business loan between $5,000 and $2 million with daily ACH repayment and no interest rate. Terms were 6 […]

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SBA Loans Go Online: A Q&A With SmartBiz

November 28, 2017
Article by:

SBA Loans

A while back, a merchant deBanked interviewed told us they had obtained what sounded like impossibly good terms from an online lender not known for low rates. When I requested a fact check of it, we learned that the online lender had actually referred the borrower to SmartBiz and that SmartBiz had secured an SBA […]

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Canadian Merchants Show An Appetite For Capital

November 25, 2017
Article by:

Vancouver, BC

In Canada, the average deal size for a merchant is anywhere between $20,000 and $30,000 in funding, depending on who you ask. That’s why when one startup recently funded a $300,000 CAD advance from its balance sheet to a Canadian merchant, the deal turned some heads. While it’s unclear whether this amount could be indicative […]

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Take a Break From Funding This Thanksgiving

November 21, 2017
Article by:

hug an underwriter

This Thanksgiving… Step back from the daily grind Those merchants eager for your cold calls can wait There’s no need to start worrying about next year just yet It’s Thanksgiving So hug an underwriter Kiss a broker Think about your favorite merchant And pay no attention to the algorithms automating your job Give thanks Because […]

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Kabbage Taps Debt Capital Markets for a Cool $200 Mil

November 16, 2017
Article by:

Kabbage Logo

Kabbage has been accessing the capital markets fast and furiously, most recently on the debt side. Today they’ve announced a new $200 million asset backed revolving credit facility with Credit Suisse. Just a couple of months ago, Kabbage attracted $250 million in equity to its coffers from SoftBank, which the alternative funder will direct toward […]

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