Archive for 2019

The End Of An Era – deBanked Through The Decade

December 30, 2019
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deBanked estimated that approximately $524 million worth of merchant cash advances had been funded in 2010. In 2019, merchant cash advances and daily payment small business loan products exceed more than $20 billion a year in originations. THE LARGEST SMALL BUSINESS FUNDERS OF 2008 AdvanceMe First Funds Merchant Cash and Capital Business Financial Services AmeriMerchant […]

How GRID Finance’s Cash Advances Are Building Stronger Irish Communities

December 27, 2019
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Above: The Design Tower on Grand Canal Quay in Dublin, home of GRID Finance’s headquarters Five years ago, a small company in Dublin put Ireland’s fintech scene on the map by advising local SMEs to “get on the GRID.” GRID Finance, founded by Derek F Butler, introduced a peer-to-peer lending model to Irish businesses at […]

Big Money, Small Town: How SBA Loans Are Powering America

December 26, 2019
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This story appeared in deBanked’s Nov/Dec 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE “The Mountains Are Calling” is the motto of Gatlinburg, an East Tennessee town of roughly 4,000 citizens known for its spectacular views of the Smoky Mountains and as a jumping-off spot for hikers, campers and winter skiers. The town […]

deBanked Throwback Thursday

December 26, 2019
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As we count down the end of the decade, I thought you might want to take a glimpse of how the decade started here at deBanked. Below is a snapshot of the main merchant cash info page that was on our site in December 2010! CLICK HERE FOR A CLEARER IMAGE When 2010 ended, I […]

Online Small Business Borrowing Decisions Not Driven By Costs or Disclosures, Fed Study Finds

December 23, 2019
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uncertain terms

A new study on transparency conducted by the Federal Reserve on non-bank small business finance providers indicates that borrowers are not driven by costs or disclosures. The #1 reason for a business to apply with an online lender was the speed of the process, the study showed. #2 was the likelihood of being funded. Cost […]

deBanked’s Top Ten Things of 2019

December 20, 2019
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deBanked's Top Ten Things of 2019

In this video, I break down deBanked’s Top Ten Things of 2019. Happy holidays and have a Happy New Year from all of us at deBanked! Re-read the top ten stories of 2018 HERE.

1 Week Until deBanked CONNECT MIAMI

December 19, 2019
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DEBANKED CONNECT MIAMI IS BACK View The Agenda Here Get inspired by Brian Holloway’s Total Market Domination, find out how much your company is worth, and learn how to make the dough from the pros in 2020. Brokers Pay a Reduced Price Still need a ticket? Register here! Meet The Sponsors – Form Relationships Get […]

Sentencings in 1 Global Capital Criminal Cases Delayed

December 18, 2019
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arrest handcuffs

The sentencing dates for the two individuals that pled guilty for their part in the the 1 Global Capital mess, have been delayed. Jan Douglas Atlas’s sentencing has been pushed back until March 2020 with a date to be determined, while Alan Heide’s has been rescheduled to Jan 14, 2020.

Fears of Possible Recession Don’t Phase CRE Lenders

December 16, 2019
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restaurant 3d

This story appeared in deBanked’s Nov/Dec 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Depending on your vantage point, a slowdown is either already in progress, just around the bend or several years away. But some alternative commercial real estate professionals are trying to filter out the noise. Instead, they are more aggressively […]

New Jersey is Propelling its Own Confession of Judgment Bill

December 12, 2019
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New Jersey Capitol Building in Trenton

The New Jersey legislature has climbed aboard the Confession of Judgment restriction train. On Thursday, the state’s Senate Commerce Committee advanced S3581, a bill that would prohibit the use of COJs in a “business financing” contract with a New Jersey debtor. The bill was introduced in March but had not experienced movement until today. New […]

Ocrolus Announces Premium Fintech Platform, Ocrolus+ at New York City Event

December 12, 2019
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Ocrolus Event

Last night Ocrolus, the New York-based fintech infrastructure company that specializes in document verification and cash-flow analytics, announced its latest product, the Ocrolus+ platform from Chelsea’s Glasshouses. Following a series of testimonies from companies such as BlueVine, OnDeck, and Enova, Ocrolus’s CEO, Sam Bobley took to the stage to run through what the new platform […]

For ISOs Only — How To Develop Your Factoring Brokerage Business (Part 2)

December 12, 2019
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Gerald Watson - The Watson Group

Read Part 1 Read Part 3 In Part 2, we’re going to focus on 3 major areas: (1) What is Factoring and How Does it Work? (2) What Are the Costs? (3) How Do You Qualify? We’re also going to touch on HOW TO find factoring funders. What is Factoring and How Does it Work? […]

Merchant Growth Partners with goeasy to Provide Funding via Physical Branches

December 11, 2019
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Merchant Growth goeasy

This month Merchant Growth, the Vancouver-based alternative finance company, announced its partnership with goeasy Ltd. that will see Merchant Growth’s services being offered in goeasy branches throughout Canada. Beginning with British Columbia, Alberta, and Saskatchewan in 2019, Merchant Growth aims to have expanded to the remaining provinces in the first quarter of 2020. Under the […]

Investors Receive Recovery Checks in 1 Global Capital Case

December 9, 2019
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money exchange

For all the noise surrounding the collapse of 1 Global Capital, investors recently recovered nearly $112 million, equating to about 40 cents on the dollar so far. “We continue to pursue collections where we can and legal actions where we can, and we’re working to see what else we can garner for the estate,” 1 […]

Michael Bloomberg Says Democrats Off Limits From Investigations

December 7, 2019
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Bloomberg

Suspect Bloomberg News might have a bias or an agenda? On Friday, Michael Bloomberg, whose company owns Bloomberg News, told CBS news that his reporters were restricted from investigating Democratic candidates while he runs for President. “We just have to learn to live with some things. [The reporters] get a paycheck. But with your paycheck […]

National Funding CEO David Gilbert Caddied For Tiger Woods For a Day

December 6, 2019
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David Gilbert - Tiger Woods

David Gilbert, the CEO of National Funding, had the honor of caddying for Tiger Woods on Wednesday at the Hero World Challenge pro-am in the Bahamas. Gilbert earned the opportunity by being a very generous participant in a Woods charity event held earlier this year. The proceeds went to the TGR Foundation. Gilbert told deBanked […]

LendingClub Retail Investors Still Frozen Out In Several States After Sudden Restriction

December 5, 2019
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Lending Club

On September 23, retail investors on the Lending Club platform in 5 states received strange news, they had been temporarily restricted from buying notes because of the state they lived in. No further information was provided. 74 days later, investors in New York, Florida, Texas, Arizona, and North Dakota (the affected states) are still frozen […]

Hedge Fund Billionaire With Fintech Focus is Buying The New York Mets

December 4, 2019
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New York Mets

Steve Cohen, the hedge fund billionaire behind Point72 Asset Management, is reportedly buying a majority stake in the New York Mets. After a long infamous run at the helm of S.A.C. Capital Advisors, Cohen founded Point72 and with it, an early-stage venture capital fund that focuses on areas like fintech and artificial intelligence. Among the […]

The Broker: How Gerald Watson Mixes Factoring with MCAs

December 3, 2019
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Gerald Watson - The Watson Group

Role? I’m the owner of The Watson Group, a factoring broker company.   How did you end up in the industry? I got started in what I call the contract financing industry about 35 years ago, kind of by accident. I had spent years working with a large management consulting company in Boston and we […]

StreetShares Discontinues Major Segment of Its Financing Business

December 3, 2019
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military metal

StreetShares quietly discontinued a major part of its financing business on November 15, a new disclosure filed with the SEC revealed. “For new customers, the Company is no longer offering to factor invoice receivables,” the letter signed by General Counsel and Chief Compliance Officer Lauren Friend McKelvey says. The company had purchased more than $112 […]