Archive for 2017

Will 2018 Be a Special Year?

December 29, 2017
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2018 is going to be different, in a good way. That’s word on the street in the alternative finance industry, many of whom have told me that it’s just something they feel. I feel it too. The S&P 500 is at an all-time high, Bitcoin is up more than 1,400% for the year, lenders are […]

Creating a Credit Standard for Canadian Merchants

December 26, 2017
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Jeff Mitelman, CEO, Thinking Capital The Canadian alternative lending market is in earlier innings than the US market, which creates unique opportunities for funders and merchants alike. Indeed, the Canadian market is one comprised of nuances that distinguish it from the lower 48, which we have spotlighted before, and 2018 is shaping up to be […]

Letter From The Editor

December 23, 2017
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This story appeared in deBanked’s Nov/Dec 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE It was a year to remember, our sources declare ‘Twas the Jan/Feb issue I wrote about my loan from Square Through March into April salespeople closed deals via text As banks looked to fintech as their plan for what’s […]

Technology Drives Changes in CRE Lending Space

December 21, 2017
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This story appeared in deBanked’s Nov/Dec 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE Online technology, which paved new paths for consumer and small business lending, is making similar inroads with the commercial real estate industry. Over the last few years, several online marketplaces have been established to try and match commercial real […]

Startups, Big Financial Institutions Play Nice in the Sandbox

December 20, 2017
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Sandbox

This story appeared in deBanked’s Nov/Dec 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE Data is the lifeblood of financial technology and more established companies frequently supply data to fintech startups for free as part of their growth model. A Boston business incubator is basing its operations on that dynamic. FinTech Sandbox, a […]

MCA’s Top Social Media Voice

December 18, 2017
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Jennie Villano

LinkedIn has unveiled its top 10 voices for marketing and social media. Fintech did not make the list, but perhaps the social networking site didn’t look hard enough. If they had been following Jennie Villano, who on Dec. 1 joined Kalamata Advisors as vice president of business relationships, that list might have included a nod […]

How I Failed to Become a Bitcoin Millionaire

December 18, 2017
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bitcoin blues

This story appeared in deBanked’s Nov/Dec 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE This past Fall, an industry colleague congratulated me on my newfound wealth. “What newfound wealth?” I reply. “What are you talking about?” “Aren’t you a bitcoin millionaire now?” he says, smiling brightly, with a look in my direction that […]

Hard Work, Big Success – The True Story of an MCA Broker

December 15, 2017
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lerrydore-cresthill

Sales is a tough field for anyone to break into even if they come from the most ideal of circumstances. At some point, the rubber meets the road for every MCA broker, at which time they must decide whether they’ve got what it takes to make it in this business. Lerry Dore, Cresthill Capital This […]

Yellowstone Capital’s Donations Help Volunteer Ambulance Corp Upgrade Equipment

December 15, 2017
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Hatzalah of Union County with Isaac Stern of Yellowstone Capital

Hatzalah of Union County, a volunteer ambulance company in New Jersey, was able to secure a new digital communications system, thanks to a fundraiser held by Yellowstone Capital this week. Throughout the past six years, Yellowstone Capital has been by far the largest donor to Hatzalah with total donations exceeding $300,000, according to a press […]

Finn & Co, Inc. To Manage Two New Equity/Debt Funds

December 14, 2017
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news pad

Below is a letter that was circulated by Finn & Co, Inc. Finn & Co, Inc. is pleased to report the formation of two new equity/debt private equity funds to be managed by our firm. The first of these two funds is a US$100M equity fund which will seek investments in the MLM Industry (multi-level-marketing). […]

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

December 13, 2017
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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 […]

deBanked Connect: Miami — SOLD OUT

December 12, 2017
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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 […]

Judge Okays Leave to Add Additional Defendants in Kalamata Capital / Biz2Credit Lawsuit

December 12, 2017
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law books

Update in the Kalamata Capital LLC v Biz2Credit, Inc. and Itria Ventures, LLC lawsuit A three-year-old lawsuit pending in the New York Supreme Court has experienced a flurry of motion practice, according to the docket. The latest order issued by the Honorable Kelly O’Neill Levy granted Kalamata Capital leave to amend the complaint to include […]

Closing Loans and MCAs — From the Bedroom to the Office

December 8, 2017
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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 […]

Originations Since Inception

December 8, 2017
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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 […]

Yellowstone Capital Surpasses $2 Billion in Originations

December 8, 2017
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Yellowstone Capital

Jersey City-based Yellowstone Capital has surpassed $2 billion in originated deals. The milestone was announced Thursday evening at the company’s year-end holiday soirée. The company was founded in 2009.

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

December 6, 2017
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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 […]

Law Firm or Law Fail? Debt Settlement Company’s Legal Footing Called into Question

December 6, 2017
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uh oh

Above: Michael Hamill gets a lap dance at the office of New Jersey-based telemarketing firm Corporate Bailout.   PLG, a purported Illinois law firm, says that they hire Corporate Bailout to perform tasks for them and that this in effect makes Corporate Bailout a law firm too.   Plaintiffs Yellowstone Capital and Everest contend that […]

Are Lawsuits the New UCCs?

December 5, 2017
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pirate flag

Back when merchant cash advance funders first began to file UCCs, competitors immediately began to look them up and turn them into leads. The practice became so widespread that MCA funders began filing under pseudonyms to throw people off the scent. But soon, competitors began to figure out who the pseudonyms belonged to and the […]

Is Lending Club Misleading New Investors About Past Performance?

December 3, 2017
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Lending Club IPO

Above: Lending Club tells new investors that 99% of portfolios aren’t losing money New retail investors interested in the Lending Club platform are greeted with a friendly statistic, that “99% of portfolios with 100+ Notes have seen positive returns.” That’s a slippery statement, which is probably why they footnoted it. The footnote says that only […]