Archive for 2017

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

December 12, 2017
Article by:

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 […]

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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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Yellowstone Capital Surpasses $2 Billion in Originations

December 8, 2017
Article by:

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.

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

December 6, 2017
Article by:

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 […]

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Are Lawsuits the New UCCs?

December 5, 2017
Article by:

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 […]

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Is Lending Club Misleading New Investors About Past Performance?

December 3, 2017
Article by:

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 […]

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