Industry News

Yellowstone Capital Funds $100 Million Over Last 60 Days

December 1, 2017
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yellowstone capital signage

An email circulated by Jersey City-based Yellowstone Capital yesterday, confirmed that the company had originated $50 million in deals for the month of November. The figured tied the record set in the previous month, bringing the 60-day total to $100 million. Two sales representatives ended up in a tie for top performer of the month, […]

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Two More Senior Employees Leave SoFi

November 9, 2017
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news pad

According to the WSJ, SoFi’s head of banking Arkadi Kuhlmann and general manager of asset management Peter Early, are both leaving the firm. The personnel move has to do with the fact that SoFi is no longer pursuing a bank charter while also pulling back on its plans for its asset management business. It has […]

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Update: PayPal Acquired Swift Capital for $183M

October 30, 2017
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According to a filing with the SEC, PayPal acquired Swift Capital for $183 million. We completed the acquisition of Swift Financial Corporation (“Swift Financial”) in September 2017 by acquiring all of the outstanding shares for a total purchase price of approximately $183 million. We acquired Swift Financial to enable us to enhance our underwriting capabilities […]

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Catching Up With Online Lending – A Timeline

October 21, 2017
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A timeline of alternative finance

This timeline is from deBanked’s Sept/Oct 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE 7/17 Online lender Upgrade, launched by former Lending Club CEO Renaud Laplanche, revealed it had already hired about 100 people Credit risk startup James closed $2.7M funding found led by Gaël de Boissard 7/18 – Former Bizfi COO Tomo […]

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Payday Lending King Scott Tucker Convicted

October 14, 2017
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Scott Tucker - Payday Lending Kingpin

One year after a federal judge awarded a record-setting $1.3 billion judgment to the FTC against Scott Tucker for damages caused by his payday lending empire, a jury in the Southern District of New York found him guilty on criminal charges that include participating in a racketeering enterprise through the collection of unlawful debt, wire […]

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Mayor Rahm Emanuel Cuts Ribbon for 160% APR Online Lender

October 11, 2017
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Mayor Rahm Emanuel

Chicago Mayor Rahm Emanuel cut the ceremonial ribbon at OppLoans’ new headquarters in Chicago this week. The APR of a typical installment loan is 160% APR in many states, according to the OppLoans website. In South Carolina, a typical loan is listed as 199% APR over 9-18 months. Today we cut the ribbon on @OppLoans' […]

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Broker Fair 2018 – The Inaugural Conference for Merchant Cash Advance and Business Loan Brokers

October 5, 2017
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Broker Fair 2018

Put on by Foinse, LLC and presented by deBanked, Broker Fair 2018 will be at The William Vale in Brooklyn, NY on May 14, 2018 New York, NY – Foinse, LLC, in collaboration with deBanked, is excited to announce Broker Fair 2018, the inaugural conference for merchant cash advance (MCA) and business loan brokers. Broker […]

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deBanked to Attend FundKite ISO Event at Met Life Stadium Nov. 2nd

September 29, 2017
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New York Jets

It’s unlikely the New York Jets will be dreaming of the Super Bowl come November 2nd when they play the Buffalo Bills, but MCA company FundKite is hosting a VIP event for select ISOs/brokers at Met Life Stadium in East Rutherford, NJ that day. According to FundKite, sales reps that hit certain funding targets will […]

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Confidence in MCA and Online SMB Lending Industry Ticks Up

September 26, 2017
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confidence index q3 2017 mca and business lending

The latest industry CEO survey conducted by Bryant Park Capital and deBanked showed that confidence in the continued success of the SMB lending/MCA industry is coming back. Confidence had a hit a low of 73.8% in Q1 of this year, the lowest point since the survey started in 2015. In Q3, the number jumped up […]

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Bizfi Survives, Thanks to World Business Lenders Asset Purchase Deal

September 22, 2017
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World Business Lenders - Bizfi

The Bizfi marketplace is slated to live on, according to Stephen Sheinbaum who joined World Business Lenders (WBL) as a managing director in July. On Wednesday, WBL purchased several assets from Bizfi including the brand, the marketplace, the Next Level Funding renewal book, and other related pieces of the company, he says. Sheinbaum founded Bizfi […]

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