Déjà Vu: Some Small Business Funders are Fading Away

June 20, 2017
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fading away

IT’S THE END OF DAYS!! Or is it? Apparently I’m old enough to see this happening all over again. A handful of big names in the alternative small business space are faltering and many of you have asked what this means for the industry. It really doesn’t mean anything other than those who do not […]

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The ‘Loan’ Star State – Texas is an alternative finance nexus

June 15, 2017
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Austin, TX

This article is from deBanked’s May/June 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE We’re at Able Lending in Austin, Texas, a financial technology company occupying three floors deep in the heart of the Seaholm power plant overlooking Lady Bird Lake. The fortress-like building anchors an inner-city complex of offices and residences, chic […]

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Industry CEOs Were Less Confident in Q1

June 6, 2017
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Industry Confidence Q1 2017

According to the latest quarterly Bryant Park Capital/deBanked survey of industry CEOs, confidence dropped to the lowest levels since the survey first began in Q4 2015. Specifically, confidence in being able to access capital needed to grow dipped down to 78.7% from 82.7% in the prior quarter. Confidence in the continued success of the Small […]

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Commercial Finance Coalition Continues to Engage

June 1, 2017
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Members of the Commercial Finance Coalition With Congressman Tom MacArthur (NJ) and Congressman Steve Stivers (OH)

Commercial Finance Coalition Members With Congressman Tom MacArthur (NJ) and Congressman Steve Stivers (OH) A sign of a mature industry? The Commercial Finance Coalition is becoming a major liaison between the merchant cash advance industry and Washington. Just as peer-to-peer lenders and electronic payment companies have their own trade associations, the CFC is regularly engaging […]

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Federal Court Agrees, Merchant Cash Advances Not Loans or Usurious

May 13, 2017
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federal court ruling

By now, numerous judges in the New York Supreme Court have concurred that purchases of future receivables are not loans nor usurious, yet challenges to these contracts continue. In the latest landmark ruling, defendants/counterclaim plaintiffs Epazz, Inc., Cynergy Corporation, and Shaun Passley a/k/a Shaun A. Passley, moved to have the original action involving their merchant […]

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Exercise of Ordinary Intelligence Would’ve Revealed Merchant Cash Advance Contract Was Not a Loan, Court Says

May 9, 2017
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Signing a contract

In the New York Supreme Court, the Honorable Linda S. Jamieson was tasked with ruling on twelve causes of action in a merchant cash advance contract case. While the 18-page decision covers a lot of ground, one notable section was the plaintiffs’ request for rescission based on “misrepresentations or unilateral mistake” and “damages for fraudulent […]

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Words Matter in Contracts (And everywhere else)

April 25, 2017
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Merchant Cash Advance Training

The Counselor Library conference powered by law firm Hudson Cook LLP was a big hit in Baltimore this week. While focused on consumer lending, they held a special one-day program on merchant cash advance and small business lending. The topics and discussions were off-limits to press reporting but what was largely visible on the exhibition […]

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Nulook Capital Has Filed Chapter 11

April 13, 2017
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chapter 11

NY-based merchant cash advance funding company Nulook Capital filed for Chapter 11 on April 4th, according to court records. They listed more than $2.6 million in creditor claims. The largest among them was a secured claim for $2 million by a specialty finance company. Two other creditors in the bankruptcy proceeding are also involved in […]

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For Factoring, Different Spin, Same Issues as MCA

April 10, 2017
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Factoring Conference

They called it the 2017 Factoring Conference, but an MCA professional would’ve hardly noticed. On the agenda was news about Dodd-Frank’s Section 1071, the now-dead NY lending legislation, usury litigation, confessions of judgment, stacking, fintech and gripes about brokers. And yet factors and MCA companies still largely live separate lives. The underlying differences between the […]

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Can Factors and MCA Companies Get Along?

April 7, 2017
Article by:

Cowboy

At the factoring conference in Fort Worth, TX on Thursday, the 2 PM panel was officially called The Fintech Disruption. But it could’ve just as easily been named The MCA Disruption considering that the panelists all ran companies engaged in either unsecured business lending or MCA. The tension in the packed room was palpable. For […]

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