The Road To Training The Best Sales Reps

February 26, 2017
Article by:

Sales Training

This article is from deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE Alternative-finance industry executives tend to agree on at least two basic rules for building a successful sales team: Hire people who know how to sell and never stop training them. Following the second rule requires knowledge and perseverance. The […]

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The New Normal

January 24, 2017

End of Full Automation?

In March 2014, I wrote the following for DailyFunder.com: I think we are either currently in, or are fast approaching a “market bubble” in MCA. Bubbles never end well…When I see some of the business practices, offers, terms and other aspects of our business today, I am worried…assets are being overpaid for through higher 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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If You Don’t Make Loans, You’re Not a Lender (And definitely not a ‘direct lender’)

January 19, 2017
Article by:

court ruling

Small business owners in multiple states are arguing that the contracts they engaged in were loans despite the agreements specifying otherwise. In one case with multiple defendants that was filed two weeks ago in federal court, the plaintiff attached emails from the ISOs and funders they allegedly communicated with as evidence, several of which purportedly […]

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CAN Capital is Changing the World’s Most Expensive Tire

January 16, 2017
Article by:

CAN Capital

Acting CEO Parris Sanz told the WSJ that what’s happening at CAN Capital right now is akin to changing a flat tire. “We hit a bump in the road and blew out a tire,” Sanz said. “We just need to change out the tire, and we’ll be back on the road.” But sources say that […]

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MCA Company Files Suit Against Debt Settlement Company

January 16, 2017
Article by:

New York Supreme Court

Plaintiffs Pearl Gamma Funding, LLC and Pearl Beta Funding, LLC (Pearl) aren’t happy with what a debt settlement firm is allegedly telling their customers, according to a complaint filed in the New York County Supreme Court in November. “Creditors Relief LLC researches customers who have entered into Merchant Agreements with Pearl, solicits them throughout the […]

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Confessions of a Fintech Chief Data Scientist

January 8, 2017

Data Scientist

My name is Justin Dickerson. For most of 2016, I was the Chief Data Scientist at Snap Advances (Snap), a funding company of merchant cash advances based in Salt Lake City, Utah. I can’t discuss my awesome work at Snap for obvious reasons. And fortunately, I don’t need to in order to make the key […]

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My Marketplace Lending 2017 Projections

January 8, 2017
Article by:

2017 projections

LendIt co-founder Peter Renton has projected that there won’t be any new industry IPOs this year. While I don’t know if I’d say he’s wrong (a year is a long time), one thing that has changed since 2014 is a shift away from the “tech” label. When OnDeck went public, they positioned themselves as a […]

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Merchant Cash Advance’s David and Goliath End an Era

January 5, 2017
Article by:

David vs. Goliath

Before there was Capify and CAN Capital, there was AmeriMerchant and AdvanceMe. Those are the original names of the two industry rivals whose history goes back more than 10 years. When I started working for an MCA company in 2006, I was taught two things, that AdvanceMe claimed to have a patent on merchant cash […]

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Platinum Rapid Funding Group Originated $180 Million in 2016

January 3, 2017
Article by:

Platinum Rapid Funding Group Uniondale, NY

A social media post by Platinum Rapid Funding Group CEO Ali Mayar, revealed that the Long Island-based company had originated $180 million in deal flow in 2016. That’s almost twice their 2015 volume, and is a new record for the company. In Mayar’s post, he wrote, “Thank you to everyone who’s a part of this […]

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