Archive for 2019

1 Global Capital Issued Securities, Court Rules

February 17, 2019
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1st Global Capital Bankruptcy

1 Global Capital founder Carl Ruderman suffered a major setback in his case with the SEC earlier this month, when the Court ruled that his company’s Syndication Partner Agreements and Memorandums of Indebtedness were in fact, securities. Ruderman had filed a motion to dismiss the SEC’s claims against him personally but the Court struck it […]

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Small Community Banks Power Fintech Revolution

February 15, 2019
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Bank

“A few years back there was a lot of disruption talk about how the fintechs were going to destroy the banks,” said Jo Ann Barefoot, co-founder of Hummingbird Regtech and a former deputy U.S. Comptroller of the Currency, which regulates national banks. “There’s much more talk in the last few years about the need for […]

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Commonbond Receives Financing From Major Banks

February 14, 2019
Article by:

David Klein

Commonbond announced today that it has signed $750 million in lending capacity from Goldman Sachs, Citibank, Barclays, BMO, and ING. “From the start, we have set out to build the highest levels of trust with our customers and our capital partners,” said CommonBond CEO and co-founder David Klein. “Access to this level of capital, and […]

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Small Business Funders Court Florists Before Valentine’s Day

February 14, 2019
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valentines day

Earlier this month, LendingTree published results from a survey they conducted about consumer spending on Valentine’s Day. The main takeaway is that men are planning to spend almost two and a half times more than what their significant others (of either gender) expect them to spend. So there might be some nice surprises today! On […]

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Tips For Trade Show Success

February 14, 2019
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deBanked CONNECT Miami Floor

This story appeared in deBanked’s Jan/Feb 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Conference season will soon kick off, but many attendees are at a loss at how to score big at these events. Without a doubt, trade shows and conferences offer participants a prime opportunity to boost brand exposure, make professional […]

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Shopify is Quickly Climbing the Ranks of the Largest Small Business Funders

February 12, 2019
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shopify glyph

Shopify originated $277 million in merchant cash advances in 2018, according to their quarterly earnings reports. That figure already places them among the largest small business funding providers nationwide. Below is a look of how they stack up thus far: Company Name 2018 Originations 2017 2016 2015 2014 OnDeck $2,484,000,000 $2,114,663,000 $2,400,000,000 $1,900,000,000 $1,200,000,000 Kabbage […]

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With Interest Rates Up, OnDeck’s Cost of Funds Comes Way Down

February 12, 2019
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OnDeck NYSE

OnDeck’s cost of funds dropped significantly in 2018, according to their last quarterly report. The rate was 5.6% in Q4, compared to the 6.8% it started off at in Q1. During the earnings call, OnDeck CEO Noah Breslow said, “We improved the terms and structures of our credit facilities and increased the number and quality […]

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Fintech Inevitable, But Petrou Says Risks Abound

February 12, 2019
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becoming a bank

At the end of last week, two large regional banks, BB&T and SunTrust announced that they are merging. The entity will be the sixth largest U.S. bank and the largest bank merger since the 2008 financial crisis. A MarketWatch story yesterday indicated that large bank mergers are part of a somewhat recent trend, citing the […]

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How Much Elevate Spends to Acquire Customers

February 11, 2019
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Elevate Cost of Acquisition

How much does a non-prime consumer lender spend to acquire a borrower? According to Elevate’s Q4 earnings report, the company spent less than $150 per borrower to originate $31 million in loans towards their partnership with FinWise Bank. Overall, however, their cost of acquisition has hovered below $245. From Elevate’s Q4 Earnings Slides Elevate’s direct […]

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Liquid FSI to Augment Healthcare Lending Platform with Blockchain Technology

February 11, 2019
Article by:

Frank Capozza

Liquid FSI announced today that it has entered into an agreement with TVS Next, an IT company, to build a blockchain platform to enhance its healthcare lending capabilities. “Our Blockchain solution solves a myriad of issues including the privacy of provider [typically medical office], biller, payer, patient and bank data,” said Liquid FSI President and […]

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