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Related Headlines

02/18/2022PIRS Capital brings on Salvatore Morreale
03/25/2021PIRS Capital on Regionals and Crains lists
01/27/2021PIRS Capital updates portal
07/09/2020The state of the industry with PIRS' CRO
11/07/2019PIRS Capital, Fundera on Fast 50 list


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Matthew Washington on the Red Carpet - PIRS Capital



Interview With Matthew Washington - PIRS Capital


Stories

Discussion: The State of The Industry With Matthew Washington at PIRS Capital

July 9, 2020
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I recently connected with Matthew Washington, the Chief Revenue Officer of PIRS Capital to get his take on the state of the industry right now and whether or not there are opportunities in the market. Video below:

PIRS Capital, Fundera Make Crains’s Fast 50

November 7, 2019
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newspaper headlineCrain’s New York Business has revealed its Fast 50 companies. Among them are Fundera (#22 with 720% 3-year growth) and PIRS Capital (#50 with 230% 3-year growth).

Crain’s says that to be considered for the Fast 50, firms had to be at least four years old, generate at least $10 million in 2018 revenue and be headquartered in the New York metropolitan area, which includes the five boroughs; Nassau, Suffolk and Westchester counties; and Bergen, Essex, Hudson, Morris and Union counties in New Jersey.

#1 on the list was Hoboken-based Bear Mattress with 3-year growth of 13,481%.

You can view the list here.

PIRS Capital is a Sponsor of deBanked CONNECT – San Diego

September 28, 2018
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PIRS Capital is a sponsor of deBanked CONNECT San Diego. The half-day event for funders, lenders, brokers and industry professionals is being held at the Andaz on October 4th!

PIRS Capital


deBanked CONNECT - San Diego

Cloudsquare Unveils Game-Changing Lender APIs for Streamlined Submissions

June 6, 2024
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New out-of-the-box integrations promises to revolutionize the deal submission process, boosting efficiency and cutting costs for alternative lending companies.

cloudsquare logoLos Angeles, CA – June 6, 2024 – Cloudsquare, a leading LOS/LMS platform and Salesforce consulting partner specializing in alternative lending solutions, announces the launch of 14 new Lender APIs integrated into Cloudsquare Broker, an alternative lending CRM powered by Salesforce. This significant advancement enhances the speed and efficiency submitting deals to lenders who accept portal submissions

The Lender APIs address common challenges in submissions, reducing delays and costs with a streamlined, automated solution. They integrate with the CRM’s Submission Channel, an AI-powered module that matches the right lenders for each deal, increasing approval rates by avoiding unnecessary declines.

Depending on the lender’s API capabilities, brokers gain access to features like real-time status updates, document retrieval, instant offers and decline reasons, further enhancing processing efficiency.

“With our new Lender APIs, users can experience a tenfold increase in submission speed,” said Jeffrey Morgenstein, CEO at Cloudsquare. “This not only saves our clients tens of thousands of dollars in processing payroll but also ensures they stay ahead of their competitors by operating at peak efficiency.”

Supported lenders include Bitty Advance, CAN Capital, Credibly, Expansion Capital Group, Fora Financial, Forward Financing, Headway, Idea Financial, Kapitus, Lendini, Mulligan Funding, OnDeck, PIRS Capital, and Rapid Finance.

“For customers who work with lenders not currently on the list, Cloudsquare offers the flexibility to add any lender to the submission framework, provided they have an API available,” said Paul Albuquerque, Director of Product at Cloudsquare. “It is our mission to elevate the entire industry and drive synergy through technology.”

This development underscores Cloudsquare’s commitment to innovative solutions that meet the evolving needs of the financial services industry, helping businesses operate more efficiently.

To learn more about how Cloudsquare’s Lender APIs can transform your submission process, visit https://link.cloudsquare.io/RYuO.

About Cloudsquare

Cloudsquare, is a robust LOS/LMS platform and premier Salesforce consulting partner specializing in solutions tailored for alternative lending. We pride ourselves on being the provider of choice for ambitious, forward-thinking organizations aiming to elevate their operations to the next level. Cloudsquare’s excellence has been recognized by industry leaders, is listed on the Inc. 5000 as one of America’s fastest-growing companies and is consistently rated as a top service provider on platforms like Salesforce AppExchange, G2, Clutch and Manifest. For more information, please visit https://link.cloudsquare.io/RYuO.

Who’s Got Swag?

January 10, 2023
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debankedmiami2019-bThere’s a rush of excitement at Broker Fair and deBanked Connect. Behind the scenes there is also a fun creative process that sponsors get to prepare for right before every event. SWAG! It can be challenging to think of anything other than pens and Post-its to jazz up one’s table with memorable tchotchkes so here is some unforgettable swag from over the years:

Broker Fair 2019 in the Roosevelt Hotel, as some might recall, had a live basketball hoop by Rapid Finance. LoanMe brought out squeezable stress relievers and what better way to relieve it than squeezing a money wad. Silver sponsor Cooper Asset had special bags that came in handy when collecting all that swag.

At deBanked Connect San Diego 2019, PIRS Capital gave out mouse pads, great for guests to use at work with a constant reminder of where they got it from. Bitty Advance had reusable water containers, smart to stay hydrated while bouncing from sessions to the sponsor showcase room. BFS Capital had a bowl of candy on their table and who doesn’t love a sweet treat after endless meet and greets.

At deBanked Connect Miami 2019, SOS Capital was looking out for everyone by having a bowl of mints out for grab. And if one can’t calculate large numbers without a calculator handy, RTR Recovery had guests covered with that.

After having a virtual Broker Fair in 2020, Lendini stepped it up a notch with a hand-rolled cigar station at the pre-show party in 2021. If one didn’t have a pen and notepad to take down information, Velocity Capital Group made sure to have plenty available. Velocity also had a mini massage station to loosen everyone up after a tense year in quarantine.

Although Covid took some time away from events, the deBanked Connect Miami 2022 sponsors were more ready than ever to show off their swag. FundFi played it safe with hand sanitizers and the LCF Group knew everyone would need a ChapStick throughout the event after talking all day. FinTap got creative with their very own Staples easy-button that said ‘funded.’ Legend Funding had mini piggy banks, ROC Funding Group had cigar cutters, and Lendini had flasks and raffled off a Gucci duffle bag.

Broker Fair 2022 swag was a blend of the practical with the innovative. THOR Capital had shot glasses and if one needed a coaster for that Lifetime Funding had your back. Now that everyone has moved on to wireless headphones, Dedicated Financial GBC brought back wired headphones, which are perfect for flying. Beyonce said it best, “I got hot sauce in my bag swag,” and everyone could too because IOU Financial had mini hot sauce bottles. Following the tradition of raffling their most-wanted Gucci duffle, Lendini also had mini tool kits and Magic 8 Balls that fortuned all good news surrounding the event.

At deBanked events, sponsors always come through with original swag ideas. With Miami 2023 right around the corner, we are excited to see what will be there this year.

Small Business Finance on the 2021 Inc 5000 List

August 17, 2021
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Here’s where alternative small business finance ranks on the Inc 5000 list for 2021:

Ranking Company Name Growth
44 Crestmont Capital 7,404%
1044 Capital Dude 463%
1221 Fountainhead 394%
2298 Bankers Healthcare Group 186%
2427 Fund&Grow 173%
2628 Channel Partners Capital 155%
2803 PIRS Capital 142%
2893 Central Diligence Group 135%
3005 ApplePie Capital 127%
3027 Nav 126%
3365 Onset Financial 105%
3394 OTR Capital 104%
3547 Forward Financing 96%



Did we forget you? Let us know at info@debanked.com

How Funders Survived PPP and a Year of Covid

May 4, 2021
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we're openA year into the pandemic and from the deBanked office in Brooklyn, it looks like the world is opening up again.

After a year of Zoom and LinkedIn networking, those in the industry lucky or talented enough to have survived can still complain without restraint about big government lockdowns and misguided legislation. Competing with Uncle Sam’s deep PPP pockets have slowed deals down, and with a new fund opening this week for restaurants, it might be more of the same.

But two funders said that though there is an initial slowdown when a new stimulus is rolled out, the programs have still been vital for business– and if firms kept up with contacts, the business could be booming even after the pandemic.

“PEOPLE FORGET WHERE WE WERE SITTING IN APRIL, MAY LAST YEAR…”

CEO David Leibowitz of San Diego-based Mulligan Funding said that his firm survived the worst of the shutdown. That was due in no small part to government programs that kept merchants in business.

“People forget where we were sitting in April, May last year, 20 million people filed for unemployment. The segments of the market that we serve in general don’t have more than 30 days of cash on hand at any time,” Leibowitz said. “There’s no chance that our market survives that without the level of government support that they’ve been given.”

Sure, there’s a dampening effect at first, but there wouldn’t be B2B without businesses to fund. Leibowitz said he thinks the macroeconomic effects of printing money will have consequences in the long term, but it’s the lesser of two evils.

Matthew Washington, the well-known CRO of PIRS Capital, has also been vocal about PPP. Like Liebowitz, he said it has its pros and cons, creating a slowdown and demand for capital in one stroke. In his experience, because the stimulus was limited to payroll and rent, merchants were hungry for other products.

“They’re only able to allocate it for certain things, payroll, and hiring people, right,” Washington said. “Our funding allows them to be able to use capital for other opportunities, like buying supplies, buying inventory. Although it’s kind of been somewhat slow, they need to have other working capital needs to be provided for.”

Washington also said some merchants used their PPP funds as low-interest loans, paying off and refinancing advances. PIRS has succeeded through the pandemic due to its relationship-based model.

“It’s all about keeping in touch with your merchants during this time, having a big pulse with the people you do business with,” Washington said. “We’re really a lean and mean company, we kind of have the community bank approach to this space; we’re more relationship-based.”

PIRS had only paused for 60 days and was lucky enough to be set up with recurring merchant partners that turned out to be essential businesses.

“We were very blessed; a lot of our portfolio was operating during the shutdown,” Washington said. “Our portfolio did very well for the circumstance.”

That was how they survived, a lot of good faith and hard work, but pinches of luck as well. Leibowitz said that contrary to popular belief, many good people lost their business during the pandemic. It wasn’t just bad actors and funders with terrible underwriting.

“…I HAVE A WORLD OF RESPECT FOR THE SBA…”

“In March, we had customers who, for reasons totally beyond their control, couldn’t pay. And we weren’t sure in March, how long that would go on for, we weren’t sure how bad it would get,” Leibowitz said. “If you’d asked me in March, April, were we going to survive this thing. There’s no way I would have been able to give you a confident answer.”

Some with public securitizations, well-run businesses, dropped out and disappeared. Leibowitz said Mulligan was able to keep every employee on staff and got through the “sh*t show.” In part, it was with help from competitors who specialized in PPP funding that Leibowitz said his firm was still going strong.

“So I think for all of its shortcomings, I have a world of respect for the SBA and the program. I think of Brock and guys at Lendio, I think of the guys at BlueVine and Kabbage, who really have done a truly extraordinary job of distributing that product to our target market,” Leibowitz said. “And I’m sitting here today, unquestionably, enjoying the benefit.”

So PPP helped, despite the slowdowns, in the short term, and Liebowitz said in the long term, the government overspending might get hairy. But with talk about the world opening back up, with bars open down the block for the first time in a year, what does Washington think about the near future?

The world just isn’t going to stop; it’s just evolving with the new temp of what’s going on; I think there’s a lot of positive things on the horizon for our business,” Washington said. “Once the vaccine rates, and everyone’s ‘cured’ how are they not going to open up.”

Where Fintech Ranks on the Inc 5000 List for 2020

August 12, 2020
Article by:

Here’s where fintech and online lending rank on the Inc 5000 list for 2020:

Ranking Company Name Growth
30 Ocrolus 7,919%
46 Yieldstreet 6,103%
351 Direct Funding Now 1,297%
402 GROUNDFLOOR 1,141%
486 LoanPaymentPro 946%
534 LendingPoint 862%
539 OppLoans 860%
566 dv01 830%
647 Fund That Flip 724%
1031 Fundera 449%
1035 Nav 447%
1053 Fundrise 442%
1103 Bitcoin Depot 409%
1229 Smart Business Funding 365%
1282 Global Lending Services 349%
1360 CommonBond 327%
1392 Forward Financing 319%
1398 Fundation Group 318%
1502 Fountainhead Commercial Capital 293%
1736 Seek Capital 246%
1746 PIRS Capital 244%
1776 Braviant Holdings 240%
1933 Choice Merchant Solutions 218%
2001 Fundomate 212%
2257 Lighter Capital 185%
2466 Bankers Healthcare Group 167%
2501 Fund&Grow 165%
2537 Central Diligence Group 162%
2761 Lendtek 145%
3062 Shore Funding Solutions 127%
3400 Biz2Credit 110%
3575 National Funding 103%
4344 Yalber & Got Capital 76%
4509 Expansion Capital Group 70%
Threads on deBanked


09-28-2018

PIRS Capital is a new site sponsor...
please welcome pirs capital as a new site sponsor. to learn more visit their website. :cool::)...




Found on DailyFunder:

11-25-2020

See Post...
pirs and kalamata prime's comments on deals, whether it be a decline or something else, are essentially the same. pirs also mentioned to my gro...
11-25-2020

See Post...
pirs. we do not syndicate on their deals nor have any business relationship with them. please feel free to reach out to me with any questions or concerns at brandon.laks@kalamatacapitalgro...
10-29-2020

See Post...
pirs capital, principis, quicksilver, rapidfinance, snap. likely some others....