Archive for 2019
Canadian Alternative Finance Event Calendar
May 28, 2019Here’s what’s on the agenda this Summer for the Canadian alternative finance industry: June 5th Credit Invisibles Summit – Presented by the Canadian Lenders Association July 25th deBanked CONNECT Toronto – Presented by deBanked |
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Jonathan Braun Sentenced to 10 Years
May 28, 2019Jonathan Braun, who Bloomberg Businessweek profiled in a merchant cash advance story series, was sentenced to 10 years for drug related offenses this morning at the federal courthouse in Brooklyn. He will get credit for 17 months previously served in 2010 – 2011. He is scheduled to surrender on August 25th. Prior to the judge’s […] |
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Does The Borrower Even Exist? Image Algorithms, Site Inspectors Spot The Fakers
May 24, 2019Their product research lab was the real deal. That’s what a business seeking capital hoped to convince a lender of when they snapped a photo of a $450,000 microscope and sent it over to underwriting along with two dozen other photos of their warehouse. Most of the pictures were genuine, but the microscope was not. […] |
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Lawyers: Earn CLE Credits While Learning About Alternative Finance
May 23, 2019REGISTER HERE June 13 Sessions June 14 Sessions Case Law Updates Regulatory Download: The Complete Picture TCPA: Defining ATDS, Exploring the TCPA and How Emails are Covered Legislation, Business and Lobbying: How does it work and Does it work at all? Bankruptcy Updates Future Invoice Factoring and Traditional Factoring: Can’t We All Just Get Along? […] |
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BFS Capital Joins ILPA
May 23, 2019
Mark Ruddock, CEO, BFS Capital The Innovation Lending Platform Association (ILPA), a group of online small business financing and service companies, announced today the addition of BFS Capital. ILPA is known for creating the Straightforward Metrics Around Rate and Total Cost (SMART) Box. “We believe that transparency matters,” Ruddock told deBanked. “BFS Capital is committed […]
Excited About Bitcoin’s Sudden Price Surge? Not So Fast
May 23, 2019
Philip Potter was a young banker that was moving up in the world. At 25-years-old, the Yale graduate made over six figures, worked for Morgan Stanley, and looked the part. He wore a $3,500 Rolex Watch, an $800 custom-made suit, and $200 shoes, all while carrying an $800 cellular telephone. It was 1997, a year […]
Canada’s Alternative Financing Market Is Taking Off
May 20, 2019
This story appeared in deBanked’s May/June 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Canadians have been slow out of the gate when it comes to mass adoption of alternative financing, but times are changing, presenting opportunities and challenges for those who focus on this growing market. Historically, the Canadian credit market has […]
The Road Back to Residual Commissions
May 17, 2019
Phil Dushey, President, Global Financial Services “We’re still getting resids from a company 14 years later.” That’s what Phil Dushey said about a factoring client he has at Global Financial Services, a New York-based financial brokerage firm he founded. He was speaking at deBanked’s “Broker Fair” to a room filled mostly with MCA brokers. Years […]
Small Business Finance Broker Wins Entrepreneur Of The Year
May 17, 2019
Left: Latin Financial CEO Sonia Alvelo receives the Entrepreneur of the Year Award from Connecticut Secretary of State Denise Merrill Sonia Alvelo, CEO of Newington, CT-based Latin Financial LLC, has been awarded Entrepreneur of The Year by the Latinas & Power Symposium. The event, incubated in Hartford, Connecticut in 2004, is the largest of its […]
Injunction Sought Against MCA Company, NYC Marshal
May 16, 2019
Update 5/29: Itria now contends to the Court that the petitioner’s lien was actually terminated on October 25, 2018, thus relinquishing petitioner’s security interest. Consequentially, Itria requests that Blue Elephant withdraw its “improperly obtained” TRO as it is Itria that is the true superior lienholder, according to a letter and new cross-motion filed with the […]
How To Scale Your Broker Shop
May 15, 2019
Above: Will Murphy, Everlasting Capital When it comes to hiring, it’s quality over quantity. That’s what the co-founders of Everlasting Capital Josh Feinberg and Will Murphy told a packed room at deBanked’s Broker Fair last week. They presented a panel called “How to Scale Your Broker Shop,” where they shared tips on how to do […]
DLI Receiver Requests Emergency Relief to Liquidate Feeder Fund Entity
May 14, 2019
The Court House at George Town in Grand Cayman The Receiver for Direct Lending Investments is racing against the clock to protect and preserve the assets of the Cayman Islands-based vehicle used to receive foreign investments, US court records show. The commencement of a voluntary liquidation of the Cayman-entity is required before the deadline to […]
Merchant Relationship Status: It’s Complicated
May 14, 2019
Brokers will often say that building strong relationships with their merchants is critical to their success. John Celifarco, Managing Partner at Horizon Financial Group, a five person ISO in Brooklyn, said that the advantage they have over larger competitors is the relationships they’ve developed with their merchants. Celifarco’s office is even in a streetfront store, […]
Another COJ Bill In New York Added To The Pile
May 14, 2019
Three members of the New York State Assembly want to make it illegal for a confession of judgment to be entered in the state against non-New York debtors. The debtor would also be required to be a resident of the county in which the COJ is filed. The authors behind Bill A07500, introduced on May […]
George Popescu Steps Down From Lampix
May 13, 2019
George Popescu is stepping down from Lampix, the augmented reality lamp company he founded, according to an announcement. Lampix raised $14.2 million through its sale of PIX tokens in a 2017 Initial Coin Offering (ICO). PIX sold at a price of 12 cents each but the value has since plummeted by more than 95%. Popescu […]
Broker Fair 2019 Makes Major Splash in the Heart of Manhattan
May 10, 2019
If a tiny ray of light were created from every conversation about small business financing, then the Roosevelt Hotel in midtown Manhattan would have been tantamount to the sun on May 6th. It was the site of deBanked’s 2nd annual Broker Fair and the grand old lobby was abuzz with brokers, funders and vendors from […]
Broker Fair 2019 Photos
May 10, 2019
If you share any of these on social media, please remember to include #brokerfair Enjoy!
Amazon Now Among The Top Online Small Business Lenders in The United States
May 8, 2019
Amazon has joined PayPal, OnDeck, Kabbage, and Square as being among the largest online small business lenders. On Tuesday, Amazon revealed that it had made more than $1 billion in small business loans to US-based merchants in 2018. Amazon says the capital is used to build inventory and support their Amazon stores. By selling on […]
FTC Forum on Small Business Financing & Merchant Cash Advances
May 7, 2019
RECORDING BELOW At the FTC Forum on Small Business Financing & Merchant Cash Advances this morning, FTC regulators asked questions of a panel of industry representatives about controversial topics, including the use of COJs. Below are some closely paraphrased responses. On Confessions of Judgment (COJs) Scott Crocket, Founder & CEO, Everest Business Funding The […]
Broker Fair 2019 Speaker Lineup
May 5, 2019
Broker Fair 2019 check-in begins at 7:30 am on Monday morning. With nearly 700 people registered to attend, it’s going to be a packed event! If you’ve got a ticket, here’s who you can expect to hear from: View The Agenda Here View The Sponsors Here
