This is a search result page


Alternative Fintech Pioneer Merchant Cash and Capital Transforms into Bizfi

September 15, 2015
Article by:

NEW YORK–(BUSINESS WIRE)–Merchant Cash and Capital, one of the pioneers in the alternative finance space, announced today that MCC has transformed into Bizfi, an online lending and aggregation platform. Due to the success of, launched earlier this year, Merchant Cash and Capital is completing its operational and brand metamorphosis in a way that better reflects the Company’s commitment to financial technology. The name change is a consideration of the Company’s rapid growth – in the second quarter of 2015 alone, the Company provided $115 million to more than 3,000 small business owners – as well as its online expansion.

Bizfi’s aggregation platform provides small businesses access to products from more than 35 funding partners including OnDeck, Funding Circle, CAN Capital, IMCA, Bluevine, Kabbage, and SBA lender SmartBiz. Bizfi, which is also a direct lender on the platform, can finance a small business owner in as little as 24 hours. It is the only funding platform that allows a business owner to go directly to contract online.

“Since the launch of, we have received an overwhelming response from both business owners and funding partners,” said Stephen Sheinbaum, Founder of Bizfi. Bizfi and its family of companies over the past two years has doubled originations to fund more than 25,000 small businesses totaling $1.3 billion. Sheinbaum continued, “Bizfi stands at the nexus of alternative finance and financial technology. With Merchant Cash and Capital becoming Bizfi, we will provide fast and unparalleled funding options to businesses across all types of sectors in the United States and internationally.”

With 80 percent of small business owners today turning online to search for financing, and 66 percent making loan applications after traditional banking hours, Bizfi is positioned to be the leader in the future of small business financing. Bizfi offers a range of funding options including short-term funding, medium term-loans, SBA loans, equipment financing, invoice financing, medical financing, lines of credit, and franchise financing.

Mr. Sheinbaum concluded, “The marketplace for business funding has changed dramatically throughout the ten years that we have been in the industry. We are continuing to grow, adapt and combine our deep expertise with cutting-edge technology to meet the needs of small business owners around the country.”

About Bizfi is the premier alternative finance company combining both aggregation and funding on one platform with proprietary technology and unmatched customer service. Bizfi’s connected marketplace instantly provides multiple funding options to businesses with a wide variety of funding partners and real-time approvals.’s funding options include short-term financing, franchise funding, equipment financing and invoice financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration. A process that once took hours, now takes minutes.

Formerly Merchant Cash and Capital, Bizfi and its proprietary marketplace and funding technologies have provided more than $1.3 billion in financing to over 25,000 small businesses across the United States since 2005. Businesses across all industries and sectors have received funding through Bizfi, including restaurants, retailers, health service providers, franchises, automotive service shops and many others.

Strategic Funding Source Names Stephen Lerch Chief Financial Officer

March 10, 2015
Article by:

NEW YORK (March 10, 2015) – Strategic Funding Source, Inc., a New York City-based provider of financing options to small and midsize businesses (SMB), today announced that Stephen E. Lerch has joined the company as Executive Vice President and Chief Financial Officer.

In this role, Lerch will be responsible for all aspects of the company’s financial operations, including enhancing fiscal capabilities, identifying new investment opportunities and executing growth plans. He will report to Strategic Funding Source Chairman and CEO Andrew Reiser.

With more than 17 years in various C-suite roles with technology-based companies in both the public and private sectors, Lerch brings an extensive range of expertise in finance, revenue generation and operations management to Strategic Funding Source. Most notably, he is a veteran of the small business finance and marketing industry, having worked for more than seven years as CFO and COO of Rewards Network where he helped pioneer the early successful growth of the alternative lending marketplace. Prior to that, Lerch was a Partner at Coopers & Lybrand, now PwC. He is a graduate of the University of Notre Dame.

“We are thrilled to welcome Steve to the Strategic Funding Source team,” said Reiser. “With his immense financial, operational and industry specific experience, Steve will play a key role in advancing the way we do business and drive the company’s growth.”

“I am extremely pleased to be joining Andy and the talented management group at Strategic Funding Source,” Lerch commented. “With the best reputation in the industry, the premier underwriting and syndication platform and an excellent equity partner in Pine Brook Partners, Strategic Funding Source is extremely well-positioned to take advantage of the tremendous growth opportunity already underway in small business financing.”

About Strategic Funding Source, Inc.
Strategic Funding Source finances the future of small businesses utilizing advanced technology and human insight. Established in 2006, the company is headquartered in New York City and maintains regional offices in Virginia, Washington state, and Florida. The company has served thousands of small business clients across the U.S. and Australia, having financed over $800MM since inception. Visit to learn more about Strategic Funding Source, its financing products and partnership opportunities.

Early Bird Pricing for Broker Fair 2022 Ends Soon

June 30, 2022
Article by:

Early bird pricing to Broker Fair 2022, taking place this October 24th at the New York Marriott Marquis in Times Square, ends soon. This large annual commercial finance expo has already sold out the top level sponsorships. Among the premier names are National Funding, Lendini, and Rapid Finance as Platinum Sponsors and Balboa Capital, Fintap, ROK Financial, and Ocrolus as Gold Sponsors.

This event brings together brokers, lenders, funders, vendors, and more from around the small business finance industry. Attendees can expect education, inspiration, networking opportunities, and more.


Selling Finance Door-to-Door During Covid

April 9, 2021
Article by:

handshakeThis week, lockdown returned to Ontario, Canada, due to the third wave of Covid cases. On April 3rd, the Premier issued a stay-at-home order, putting 14 million Canadians back behind closed doors. Based in Ontario, Canadian Financial is a one-stop alternative and traditional funding shop that still champions door-to-door sales and the lockdown has sidelined them for the third time.

“We just went back into lockdown. The whole province, everything just shut down,” CEO Patrick Labreche said. “We were getting 20 to 30 new cases a day, and then it jumped to like 200 a day.”

Meanwhile, 110 miles down south at deBanked, de Blasio announced NYC public beaches would be opening up by Memorial Day. Because of the wide range of government shutdowns this past year, Labreche said it is hard to admit to some that his business is booming.

“I was having a conversation with a guy who does payment processing, he makes residuals on his customers, and so his book of business was not making any money right now; he’s hurting,” Labreche said. “So it’s kind of hard to tell a guy like that that we’re flourishing, and maybe you should come work with us.”

Labreche said that the processor was actually going to work with Canadian Financial. Success this past year came from leveraging the interpersonal skills that make an excellent door-to-door salesperson thrive, Labreche said.

Town of Canmore in the Canadian Rockies of Alberta, Canada“I started in the door-to-door and b2b at 19 years old, completely broke. I dropped out of school, and I started knocking on doors, and you know, that business model has changed my entire life,” Labreche said. “When you get into door-to-door sales, you understand how to sell yourself first. You get a sense of how to communicate with people, how to understand their needs, their pain points: How to leverage the service or product that you have.”

With a team of salespeople connected through weekly department meetings and messaging groups to keep the energy up, the deals kept rolling in throughout covid. Labreche said his firm is set apart from a good portion of Canadian alt finance: they offer a smorgasbord of financial products directly to the borrower instead of using lead generators.


While most fintechs think all business owners want a one-button final product, Labreche attests to the opposite- his firm sends out salespeople to make sure businesses know they have a rep to rely on.

“I have nothing bad to say about aggregators; that’s their business model, not ours,” Labreche said. “Our business model is going into a business that didn’t even know that the solution was available. When you’re looking online, you’re looking for a solution that you already know is available.”

Labreche favors traditional finance. His firm offers MCAs and other alternative forms of funding but said those are mostly band-aid solutions and he regularly sees MCA deals taking advantage of merchants. For example, Labreche said he walked into an ESCO gas station last month, and through talking to the owner, discovered an opportunity. The owner had taken an MCA from a big Canadian firm but was confused about the cost of capital- he thought he was paying 17%, but Labreche read a recent statement and discovered the rate was really 50%.


“Right there and then he was like, ‘oh my God, that’s crazy I didn’t know,’ he was misled, and it’s like that across the board. So I ended up getting him a quarter-million dollars at four and a half percent on a term loan,” Labreche said. “Nobody’s ever walked into his business or called him, offering him traditional money. We feel like there’s a huge underserved, undereducated market.”

This week, walk-ins have become less of a possibility, with a lockdown banning all non-essential travel. Still, business development manager Julian Hulan looked forward to when things would open back up. He had masked up and gone out on sales calls throughout the year when the government wasn’t in shutdown mode. Recently he traveled to 20 car dealerships to offer financing in a two-day period and said he found merchants excited to see him in person instead of over email.

“They were like ‘oh, I can actually sit down and talk to this guy?’ and that’s when they eat it up,” Hulan said. “They know because they’ve already made that connection face to face, they can call me directly. We don’t do this whole 1-800 Number. You’re going to call me directly and if I don’t answer, you leave me a voicemail, I call you back, it’s that personal relationship between me and that client.”

University of Delaware, Other Universities Going Long on Fintech

September 15, 2020
Article by:

This story appeared in deBanked’s Jul/Aug 2020 magazine issue. To receive copies in print, SUBSCRIBE FREE

The University of Delaware recently received a $9 million tax incentive to construct a new Fintech Center on its premier Science, Technology, and Advanced Research (STAR) campus, with help from a community-building company Cinnaire. Slated for completion in 2021, the building marks yet another fintech-focused resource for higher education.

Financial technology programs have long been offered at prominent business schools such as Harvard, Stanford, and Columbia, international schools such as Oxford, and research institutions like MIT since the late 2000s. 

Now that fintech has become a long term value creator in the financial world, other institutions such as the University of Michigan, Fordham, and Delaware are excited to implement fintech opportunities on campus for undergraduate and graduate students alike.

UD FintechDiscover Bank and Cinnaire jointly funded the building, a $39 million project. According to Delaware plans, it will create a space on the Delaware STAR campus to host a new Financial Services Incubator to encourage research and collaboration between students and industry leaders.

“The FinTech building will bring together computer science, engineering and business experts in cybersecurity, human-machine learning, data analysis, and other emerging financial technologies,” said Levi Thompson, Dean of the College of Engineering. “These collaborations will allow us to provide our students with a very unique experience that prepares them to excel in the workforce. Furthermore, our Fintech discoveries will benefit people throughout Delaware and the world.”

Cinnaire is a national nonprofit that focuses on improving communities’ financial health by creating capital solutions to revitalization projects: lending funds, managing, and building housing structures. 

Funding communities is what Cinnaire does best: in this case, utilizing a New Markets Tax Credit to fund an addition to the Delaware campus.

Fordham FintechThe nearby University of Fordham at Lincoln Center has also been trending toward preparing students for a fintech world. Undergrad and graduate students pursuing an MBA through the Gabelli School have the option of a fintech concentration.

The course work not only incorporates data science and machine learning skills into the worlds of credit lending and risk management but facilitates relationships between students and a wealth of industry partners. 

Sudip Gupta, professor, and Director of the MS Quantitative Finance program, spoke about the courses’ popularity there. The program is ranked in the top 20 of its kind in the world by Risk Magazine.

He has seen a revolution in fintech in the past few years that has recently received a big push by pandemic forces, introducing the wholesale adoption of fintech techniques into traditional financial institutions.

“The fintech revolution in the industry- big data, machine learning techniques, storage capacity, and cloud computing has been going on for the last couple of years,” Gupta said. “The pandemic provided the big push to move toward that direction.”


Gupta has been following the development of alternative credit closely, recently publishing an award-winning paper studying machine learning to create alternative consumer credit scores using mobile phone and social media data.

“The idea of my research- let’s look at people who do not have a credit history or enough traditional credit you could get from a FICO score,” Gupta said. “Using this data, it turns out they are better predictors, and better to judge than FICO, and can reach out to more people.”

Gupta is excited for the adoption of big data techniques into alternative and traditional consumer loans because it offers a win-win for consumers and institutions alike, he said. Echoing the findings of many successful alternative finance companies, Gupta said his research showed that collected data could offer better insight for lending than “stale FICO scores.”

Ross FintechUp north at the Univerisity of Michigan, Professor Robert Dittmar at the Ross School of Business heads the Fintech Initiative. He is working on adding even more fintech classes. Recently, through a partnership with PEAK, a Chicago fintech lending company, Michigan launched a fintech initiative that incorporates undergrad and grad classes, faculty research, and a fintech entrepreneurial club that connects students to industry leaders. 

Michigan Ross is adding fintech classes for a variety of reasons.

“The simplest reason: students are interested in learning more about this kind of space,” Dittmar said. “And we’re seeing more demand from the industry side for students that know more.”

For years Dittmar said tech companies and startups in silicon valley were pioneering innovations in the industry. Through talking with alumni and contacts in the industry, Michigan found that fintech has gotten to the place where there is an excellent supply of data engineers. Still, there is a demand for professionals with the financial business expertise to implement these technologies.

“What we are trying to do at Ross is fill in that gap,” Dittmar said. “what we’d like is for [students] to know enough about the technology that they can provide the insights of finance and business to the people that are doing that technical work.”

At Ross, they are organizing what will one day be like a fellowship program. The program will feature a combined learning experience: students will learn data analytic finance, apply their computing skills in credit decision making classes, and then connect with the industry in experiential learning classes.

“In the last couple of years, I have been taking students to London to work at fintech startups in the UK,” Dittmar said. “And we are hoping to expand that program so that most or all graduate students have the opportunity to participate in something like that.”

Last year Ross hosted a “Fintech Challenge” competition to design a banking service to reach customers in a “banking desert” in rural Michigan. The program is hoping to host another challenge this year, despite complications of COVID-19.

Broker Fair 2018 On Pace for Major Success

April 4, 2018
Article by:

Broker Fair 2018Broker Fair 2018 is on pace to be a major success!

Companies still wishing to become a sponsor of Broker Fair 2018 have until Friday, April 6th to do so. After that, no additional sponsors will be accepted.

The coming May 14th conference in Brooklyn, NY has already sold out of funder/lender and general admission level tickets. Only ISOs, brokers and those employed by them can continue to register!

The inaugural event has lined up dozens of awesome speakers and sponsors from around the MCA and small business lending industry. In addition to the 31 confirmed speakers and 50 sponsors, TV sales celebrity Ryan Serhant will be the keynote speaker of the event and will offer the audience sales tips. Serhant’s new TV show, Sell It Like Serhant premieres on April 11th.

Salespeople will also be in for a treat with the Be A Better Closer panel featuring Jared Weitz (United Capital Source), Joe Camberato (National Business Capital), Ed Tucker (Yellowstone Capital), Evan Marmott (CanaCap), and Justin Bakes (Forward Financing) as Moderator and the Marketing Your Business panel with Jennie Villano (Kalamata Advisors), Adam Stettner (Reliant Funding), and Tom Gricka (Babylon Solutions).

Industry captains will also teach you how they underwrite deals and tips for ISOs to succeed. Attorneys will walk you through the ins and outs of telemarketing law and legal advertising. There’s more of course, like networking with the funders, tips to raise capital, debates on industry issues, and checking out industry CRMs.

Free Afterparty Networking Event at Westlight for All Attendees

Afterwards, all attendees are invited to network upstairs at Westlight sponsored by RapidAdvance, while enjoying free food and drinks. Westlight offers full views of the Manhattan skyline from Brooklyn’s William Vale.

To date, there’s never been anything like it. I hope to see you at Broker Fair.

ISOs, don’t wait until it’s too late to register!

Innovative Lending Platform Association and Coalition for Responsible Business Finance Join Forces

March 5, 2017
Article by:

CRBF joins ILPA to promote responsible lending and increase access to capital for small businesses

NEW YORK, Early Release — The Innovative Lending Platform Association (ILPA) and the Coalition for Responsible Business Finance (CRBF) today announced they are joining forces and will now operate as the ILPA – the leading trade organization representing a diverse group of online lending and service companies serving small businesses. Joining ILPA’s existing members, OnDeck® (NYSE: ONDK), Kabbage® and CAN Capital, are CRBF member companies Breakout Capital, Enova International’s (NYSE: ENVA) The Business Backer™, PayNet and Orion First Financial. United by a shared commitment to the health and success of small businesses in America, the newly expanded ILPA is dedicated to advancing best practices and standards that support responsible innovation and access to capital for small businesses.

In addition, leading national small business organizations that formerly served as the CRBF Advisory Board will now represent small business customers as formal advisors to the ILPA. The Advisory Board includes individuals from the National Federation of Independent Business (NFIB), the National Small Business Association (NSBA), the Small Business & Entrepreneurship Council (SBE Council), the U.S. Chamber of Commerce, and new representatives from the Association for Enterprise Opportunity (AEO). These small business organizations have provided key input into the collective group’s best practices and standards initiatives over the past year, ensuring that the needs of their small business constituents are addressed.

The expanded ILPA remains committed to advancing online small business lending education, advocacy and best practices. In October, the ILPA introduced the SMART Box™ (Straightforward Metrics Around Rate and Total cost), a first-of-its-kind model pricing disclosure and comparison tool launched in partnership with the AEO. The SMART Box is focused on empowering small businesses to better assess and compare finance options and is now available for broader adoption by lending platforms. More details can be found at:

As a leading voice for responsible business funding, CRBF launched in January 2016 with the mission to create a concrete code of ethics for the industry and to educate policymakers on the value of non-bank small business financing. The organization outlined responsible and transparent business practices for both providers as well as customers, and the expanded ILPA has leveraged that work to formulate an updated industry Code of Ethics that will guide the ILPA moving forward.

The expansion of the ILPA follows a period of broad stakeholder engagement and a demonstrated shared commitment to serving small businesses. With this unification, the cross-industry effort to bring innovative and responsible solutions to improve access to capital for Main Street small businesses continues to gain momentum.

“Fostering responsible innovation and empowering small businesses to better assess and compare finance options are priorities for the ILPA. We are delighted to join forces with the CRBF as we work together to advance small business online lending education, advocacy and best practices,” said Noah Breslow, Chief Executive Officer, OnDeck. “We are proud to be part of this growing cross-sector effort to help improve capital access on behalf of small businesses across the United States.”

“The combination of these leading organizations represents a landmark moment in the industry, signifying how major players in the small business lending space are increasingly aligned on values and best practices that benefit small businesses,” said Carl Fairbank, founder and chief executive officer, Breakout Capital. “Founded on the fundamental principles of responsible lending, education and transparency, Breakout Capital is thrilled to partner with other premier players in the industry who share our vision and believe that a unified industry voice can promote small business success more effectively. “As a founding member company of CRBF, The Business Backer is thrilled with the merger between the CRBF and the ILPA,” said Jim Salters, president of The Business Backer and CRBF Advisory Board member. “The move creates an even larger platform of industry leaders with a common voice to help ensure small businesses have access to honest and transparent funding sources.”

“The ILPA was launched as a self-regulatory exercise and is focused on empowering small businesses with clear and transparent ways to compare financing options,” said Rob Frohwein, co-founder and chief executive officer of Kabbage. “Kabbage and the ILPA are excited to join with the CRBF in order to advance ubiquitous industry standards. Together, we are eager to continue working with regulators and policymakers to expand small businesses’ ability to easily access technology-driven financing products.”

“Access to capital is a high priority for America’s small businesses. As our economy grows, small business owners need diverse sources of capital to hire new employees and expand their businesses. The U.S. Chamber of Commerce applauds the innovative capital providers in the ILPA for their dedication to fueling growth on Main Street,” said Tom Sullivan, vice president, small business, U.S. Chamber of Commerce.

“CAN Capital has been a supporter of transparency throughout our 19 year history, and we are excited to see the ILPA expand as it continues to support small business owners,” said Parris Sanz, chief executive officer of CAN Capital.

“Small business lending continues to be stubbornly elusive for many small firms and what we need is not just more lending, but better lending options,” said Todd McCracken, National Small Business Association president and chief executive officer. “This merger will expand on efforts to connect small business with a variety of fair and responsible lending resources.”

“We are excited to be part of an organization whose purpose is to create a vibrant, healthy, small business lending marketplace that serves the engine of the U.S. economy – small businesses,” said David Schaefer, chief executive officer of Orion First Financial. “As a loan servicer to small business lenders, we are particularly enthusiastic that the ILPA is embracing a diverse membership and participation from small business associations through its Advisory Board.”

“SBE Council looks forward to partnering with the expanded ILPA to continue advocating for the innovative and responsible sources of funding to which entrepreneurs and small businesses need access,” said Karen Kerrigan, president and chief executive officer of the Small Business & Entrepreneurship Council.

“It is critical that these and other responsible lenders come together to advance initiatives like SMART Box,” said Connie Evans, president/chief executive officer of the Association for Enterprise Opportunity. “The time is ripe for united voices and action to give more people the opportunity and the tools to realize a brighter future for their businesses.”

Together, the members of the expanded ILPA have provided access to more than $14 billion dollars in capital to small businesses to help drive growth and hiring.


Bizfi Hits $2B Origination Milestone; Providing Financing to More Than 35,000 U.S. Small Businesses

December 22, 2016
Article by:

BizfiNEW YORK–(BUSINESS WIRE)–Today, Bizfi, the premier fintech company with a platform that combines aggregation, funding and a marketplace on a single platform for small businesses, announced that it has surpassed $2 billion in financing – through both growth and working capital – to more than 35,000 small businesses across America.

The marketplace was launched in 2015 to provide small business owners with access to multiple financing options from more than 45 lending partners. These financing options include short-term financing, franchise financing, lines of credit, equipment financing, medical financing, invoice financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration.

“Over eleven years ago, when Bizfi became one of the first alternative finance lenders, we understood that if we remained committed to the principle of providing business owners with fast access to smart capital, we could achieve growth while supporting the number one job engine in the economy,” said Stephen Sheinbaum, founder, Bizfi. “During the last decade we have invested in creating the best platform and user experience with the most advanced technology to ensure business owners can access the financing they need. Hitting this milestone reinforces that our business fundamentals are strong and we are providing a much needed service in this growing economy.”

“Every dollar we provide to a small business owner returns multiples of GDP,” said John Donovan, CEO of Bizfi. “Being able to support the small business community is at the heart of our company. We believe there is tremendous opportunity to grow our marketplace offerings. We have funded over 35,000 small businesses and we look forward to greatly expanding that number.”

Donovan continued, “One of the key reasons why I joined Bizfi as its Chief Executive Officer was its growth trajectory. In just two years, the company has gone from supplying $1B to small businesses to $2B. This is a testament to our unique business model of providing both a financial product and a marketplace.”

Built from proprietary technology, Bizfi’s platform uses application program interface (APIs) to leverage a wide variety of sources to quickly offer loans and other financial products to small businesses. The platform is strengthened by strategic relationships with more than 45 funding partners, 15 of which are integrated within the platform, including OnDeck (NASDAQ:ONDK), Funding Circle, Bluevine, and Kabbage. Bizfi is also a direct lender on the platform.

About Bizfi

Bizfi is the premier fintech company combining aggregation, funding and a marketplace on a single platform for small businesses. Founded in 2005, Bizfi and its family of companies have provided $2 billion in financing to more than 35,000 small businesses in a wide variety of industries across the United States.

Bizfi’s connected marketplace instantly provides multiple funding options and real-time pre-approvals to businesses from a wide variety of funding partners. Bizfi’s funding options include short-term financing, franchise financing, lines of credit, equipment financing, medical financing, invoice financing, medium-term loans and long-term loans guaranteed by the U.S. Small Business Administration. The Bizfi API provides a turnkey white label or co-branded solution that easily allows strategic partners to access the Bizfi engine and present their clients with financial offers from Bizfi lenders all while maintaining their customer’s user experience. A process that once took hours, now takes minutes.

KCSA Strategic Communications
Kate Tumino, 212-896-1252
Sales, 855-462-4934
Marketing, 212-545-3182

Threads on deBanked


Premier Capital Funding is a new site sponsor...
please welcome premier capital funding as a new site sponsor :cool::) learn more about them at:...

Premier Capital Funding is funding MCA : 2nd and 3rd position...
premier capital funding got back to funding! we do: - 2 and 3rd positions; - consolidation if the merchant is on time with his payment to current len...

Found on DailyFunder:


See Post...
premier capital funding got back to funding! , we do 2 and 3rd positions b and c papers and consolidation if the merchant is on time with his payment to cu...

See Post...
premier capital funding got back to funding! , we do 2 and 3rd positions b and c papers and consolidation if the merchant is on time with his payment to cu...

See Post...
premier capital funding got back to funding!, we do 2 and 3rd positions b and c papers and consolidation if the merchant is on time with his payment to cur...