Archive for 2023

Welcome to Broker Fair 2023

Broker Fair check-in and breakfast start at 8am at the Hilton Midtown in NYC.

If you’re here today, here’s some quick helpful info:

WIFI PW: ROKFinancial

Agenda

Mobile App

Sponsor list

Contact info: events@debanked.com

We hope you enjoy the day!

A Letter About Broker Fair

When I started in the small business finance industry in 2006, I considered myself fortunate that the work I put in translated into real world measurable impact. We helped businesses obtain capital when potentially no other options existed. Whether that was for simple cash flow, to expand, or to keep the lights on after an unexpected hardship, I got to know the customers’ stories and see the results of their efforts. Few kids straight out of college going into a “finance job” get to experience what I did. But for those that were in it at the time, we were like a family, a core group providing a service that very few other people understood.

And for a period of about five years through both underwriting and sales, which started before and went on through the Great Recession, many members of that family discovered new and different ways in which they could play a role in serving the nation’s small businesses. Some of them became big entrepreneurs, CEOs, or hard working brokers. Others went into tech, marketing, legal, and payments.

And for me, well I saw a need for something maybe a little less glamorous, but nevertheless important, and that was to tell the stories about what everyone else was doing. That’s what led to the creation of deBanked in 2010, a website that I hoped would inform others about what was going on, who was who, and how certain products worked.

Most people actually told me that starting deBanked, in its early days, was a bad idea because my knowledge and experience would be wasted on storytelling when I surely stood to gain more personally by operating in the trade of the business itself. Well, in the end they were probably right but I was convinced, just like my early days, that pursuing my path would also translate into real world impact. Whether you agree with all the content we’ve produced over the course of almost 13 years now, just about any person that’s ever read something on deBanked has walked away informed about something they didn’t know before. And as the community of the industry multiplied over time, it became clear that one major thing with deBanked was lacking, and that was to put faces to all the names. Everyone had come to know the industry online and now they deserved to see it all for themselves in person. We started with golf in the summer of 2017 and a rooftop gathering in Miami Beach in January 2018 called deBanked CONNECT. That led to Broker Fair that May where the core tenets of the event were education, inspiration, and opportunities to connect and grow. They’re the same tenets that we strive for today.

At the time of the first Broker Fair I was just 34 years-old and this industry had been basically all that I had ever known in my professional life. Just like writing, event production was not high on the glamor list, but I believed that shows like Broker Fair would foster those that make a difference. Putting them on has been hard work. It is hard work. They didn’t teach me event planning on the underwriting or sales floor, but we got there somehow. And since then we have aimed to make the experiences fun while at the same time honorable and respectable. I remember what it was like to be 23 and hungry in the business and have also come to recognize the stakes on the national stage as I now turn 40. I know that the world is watching and how important it is that everyone conduct themselves like professionals.

I have spent nearly 17 years in this business and converse with participants in the industry on a daily basis. It is a great honor that the name Broker Fair is now known by so many people. I suppose there is some glamor in having accomplished that, but more importantly that Broker Fair has had an impact on so many people who serve much more important clientele, the small businesses across the country.

I’ve said that there is “only one Broker Fair,” and that’s because when you see that very specific name on an image or billboard or t-shirt, you’ll know not just who we are, but why we are.

Thank you to all of those who acknowledge that professionalism and decency are important and are respectful of the events our team puts so much effort into bringing to life. Our team literally spends all year working on them. I look forward to Broker Fair 2023 and seeing all of you.

– Sean Murray

Square Loans Originates $1.1B in Funding in Q1

Block is not slowing down its small business lending division. Square Loans originated $1.1B across 113,000 loans in the first quarter of 2023, keeping it on pace to continue remaining the largest small business lender that deBanked publishes data on. The company said that loss rates remained consistent with historical ranges and that strong revenue and gross profit were achieved.

LoanGeek to Transform Commercial Real Estate Financing With The Launch of Exciting Platform in Summer 2023

New York, NY, May 5, 2023 – LoanGeek today officially announced that it is launching an online financing platform that connects real estate owners and investors to financing sources for all their real estate financing needs. The technology-driven solution, set to launch in the summer of 2023, is revolutionizing the commercial lending process through automation. Customers can submit basic information about their property and financing needs and will be matched with a lender that meets their criteria within minutes. Through strategic partnerships and a proprietary streamlined technology solution, LoanGeek ensures ease, efficiency, flexibility, and an elevated experience.

“We are thrilled to announce the launch of LoanGeek to provide a valuable service and meet a need in the marketplace. Our platform is a one-stop shop for all your real estate financing needs. Whether you are a real estate investor in need of financing to acquire a new property, or looking to refinance an existing one, we have you covered. We expect the platform to be live later this summer but already have a waitlist of referral partnerships,” says Chris Pepe, CEO of LoanGeek.

A New Era for Financing on the Horizon
Under the guidance of a team with more than 20 years of experience in commercial and SMB lending, LoanGeek aims to make applying for a commercial loan and finding the right lender as simple and stress-free as possible. In the past, real estate investors and property owners typically went with whatever offer they received from one lender—unaware of other potential superior options—and this longstanding problem is what LoanGeek will solve.

In building its foundation, LoanGeek puts people, relationships, and transparency at the forefront. When a customer applies through LoanGeek, they can see all options available to help them make an informed decision. Whether a customer is looking for a 50,000 fix-and-flip project or a 200- million-dollar ground-up construction, LoanGeek can accommodate all these needs.

About LoanGeek

LoanGeek is an online financing platform that connects real estate owners with financing options. Through innovative technology, the platform simplifies the loan application process for customers and helps them find the best financing options for their properties. Based in New York, LoanGeek partners with various lenders to provide customers with competitive rates and terms. For more information, visit www.loangeek.com.