SEAN MURRAY

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Sean Murray is the founder of deBanked (2010), deBanked Connect & Broker Fair (2018), and DailyFunder (2012).

Murray entered the nonbank finance industry in 2006 and has a Bachelors of Science in Accounting & Finance from University of Delaware. He is widely known for his extensive reporting on the merchant cash advance industry and fintech.




Sean Murray



Recently Authored by Sean Murray

How Everybody Suddenly Became a Direct Funder
By: Sean Murray

direct fundersIt's hard to distinguish a broker from a funder these days especially in an environment where seemingly reliable evidence might not indicate what you think it does. For instance, I recently made an off-the-cuff post about "white label funding" on social media that opened up a lot of eyeballs to a practice that's been happening behind the scenes for years that could totally change what you think you know about the business, and help explain why deals might be spreading further beyond what a broker intended. For instance, the catchphrase "of course we're direct, just check our lawsuits out in the courts," cannot be relied upon to indicate one is direct at all. Say what! Here's how white labeling came about, what it means (roughly speaking), and how it works. Please note there are certainly many iterations and variations to it: More than ten years ago, the MCA arms race to recruit ISOs became ultra competitive and everyone began looking for an edge. Some tried high commissions or faster approvals or higher risk funding or customer service and so on and so forth. Others got more creative, turn the ISOs themselves into funders and leverage their incredible abilities to sell themselves! If a broker was called Cool Funding Co, then the funder might organize an LLC or register a DBA with an extremely close spelling, like Cool Funding Capital, LLC or Cool Funds Co, Inc, something that otherwise wouldn't raise any eyebrows if one was dealing with Cool Funding Co. The real Cool Funding Co, white label entity in hand from a funder, could now market itself as "direct" and take to the interwebs and telephones to solicit deals from fellow brokers. When Cool Funding Co would get the deal, they would direct it to the real funder, who then prepares a contract with the white labeled name that looks very much like Cool Funding Co. Cool Funding Co gets a cut of every deal funded and also the honorary and distinguished advantage of being a funder in a market full of brokers! They can even syndicate on them which perhaps makes it look and feel even more direct! Thus kicked off an extraordinary boom of white labeling, which carries through from beginning to end. If a deal defaults under the Cool Funding Capital, LLC contract, then that's the name that will appear as a plaintiff in the court system. Hence, court records can be misleading to an outside observer who aren't aware of this practice. You might be dealing with Cool Funding Co, but Cool Funding Capital is actually another funder entirely who actually did the deal behind the scenes. Not content to let just one funder dominate this market, dozens of funders followed by offering white label services to brokers to front as a funder. This would allow brokers to shop a deal around to all those they have a white label relationship with and create the appearance that whomever approved it was actually them in the end. For a time, not offering white labeling was considered a major disadvantage because then brokers would have to reveal some other company's name on the contract, risking the possibility that whichever broker they had solicited would cut them out of the process in the future and go truly direct. The only tell would be that suddenly Cool Funding Co sure seemed to have a lot of legal names, like Cool Funding Capital, Cool Funding Two, Cool Merchant Funding, Cool Cap, and more, both on their contracts and in the court system, all indications but not necessarily definitive proof of white labeling. And not to say that any of this is deceptive or bad or immoral. White labeling exists in many industries and at the end of the day it allowed really good sales people to capitalize on the relationships with people who already liked them. It was smart, genius even. And if the deals get funded and everyone is happy, who cares? Even some funders got in on it too, shopping out their declines to other funders only to put out a contract in front of their broker with a white label, leaving them to have no idea that someone else is actually doing the deal. Again, this isn't necessarily deceptive, and can easily be marketed as a benefit. Instead of a broker having to waste time submitting a deal to five funders, they can submit to just one that they really like and the funder will get it done whether on their own balance sheet, through syndication, or through a white label somewhere else. The broker will only have to deal with that one relationship. The deals get done. Everybody wins. The ironic thing is that white labeling became such a common feature that few people even talk about it anymore. White labeling can even be done in-house in which a funder today can just be a composite of several different syndication funds all while being white labeled under one marketable brand name. The point is that determining who is direct is not easily determined, and especially not from "looking someone up in the courts." If there is one solid takeaway from this information its to be informed about what is possible and to help you ask better questions with potential relationship partners. Ask questions things like these:
  • Do you rely on white labeled contracts?
  • Do you rely on syndication? If so, from who, where?
  • How many of your own underwriters do you have? Can I speak to them?
  • How much of your own money do you put in the deal?
  • If I look up the legal entity on your funding contract, who will show as the owner?
Red flags for a possible white label or broker:
  • Says they can fund any and every type of deal
  • Multiple commission structures
  • Relies entirely on statements like "look me up in the courts" for authenticity
And there you have it. Be careful out there. A great way to cut through the nonsense is to get to know your relationships in person! There are also plenty of funders who don't white label at all because they don't want to deal with any of the risk or complexities that come with it.
The Long Running Mysterious Fraud in the Small Business Finance Industry and How to Defend Yourself
By: Sean Murray

The submitted deals are real. The merchants are real. Everything checks out until suddenly it doesn't. The merchants block the payments and find out they've been scammed.The funders find out they've also been scammed. But it's too late because the money is gone and the fraudsters disappear without a trace. deBanked reviewed hundreds of court documents, emails, and websites in preparation for this story and spoke with multiple people familiar with the matter, though only one would agree to go on record. Here's the story of how the scam works and what you need to know to defend yourself. the scheme It was a textbook merchant interview call. The business owner answered the questions succinctly and convincingly. He knew his stuff and sounded confident, like somebody who wanted to just finish the process and get the underwriter to issue a final approval on his funding application. His accent said little about where he was from. It sounded like it could be Mid-Atlantic or perhaps lower New England, just a regular business owner on Main Street USA. "It sounded a little nasal, right?" said Alex Shvarts, CEO of FundKite, after playing the recording for me to judge. The tone of the voice did actually sound unusual after thinking about it. Something was off about the call and that was the only tell. For the person on the other end of the phone wasn't who they claimed to be. It would later be debated if they had used voice changing technology, one of many layers of obfuscation that had been put in place to cover up what is quickly becoming the scheme of the decade. FundKite had signed up a new broker and promptly received two deals from them. On this particular one the paperwork attached to the application was real. This was a real business and these were their real documents. But the real owner of the business had no idea that any of it had been used to apply for funding with FundKite. In a typical identity theft scenario, a scammer gets a lender to send the loan proceeds to a bank account that is controlled by the scammer, keeping the victim completely in the dark that their identity is being used for the fraud until much later when a default occurs. But in this case the scammer intended to have a funding company send money to the victim's actual bank account. It's a twist that understandably makes it very difficult for the funding company to later believe that the merchant's identity had been stolen since they were the ones receiving the proceeds. But once the business has been funded, the scammer executes the next step in the scheme, convincing the business owner to send the money to them. If that sounds like a whole lot more work to make this heist successful, then you have no idea how many layers of deceit are in play and the scale at which it's operating. phishing emailIt started sometime around 2019 (maybe even earlier) and is still happening to this day across the industry. The scammer uses stolen identities to incorporate businesses, followed by using those entities to open up bank accounts for them. One account is used to impersonate being a lender and another to impersonate being a broker. They first get to work by being the fake lender and register a domain name that closely resembles and could be mistaken for a real lender they're trying to impersonate. According to records obtained by deBanked, domain names challenged via UDRP and seized as part of an ongoing investigation into the fraud reveal that the scammers also use stolen identities to register the domains, making the real buyers untraceable. The objective of having these fake domains in the first place is to contact existing real borrowers of the real lender and to pass themselves off as the real lender. It's a classic phishing scheme. There's various theories as to how this is done, but there's a possibility that public records are sufficient for the scammer to accomplish this step. A reverse UCC search can reveal the names of a lender's customers and the time in which they received a loan. From there, big data or cursory internet searches are enough to obtain the contact info of those borrowers. This type of list building is nothing new and fairly common in the data business. The scammers then email the borrowers from the fake domain, purporting to work for their real lender, and give them the great news that positive repayment history has afforded them the reward of being able to refinance their loan at a lower rate. It is generally good practice to check the domain name of a sender, even though that itself is not foolproof, but an incorrect one, especially one that resolves to a "404 Error Not Found" page, should be a sufficient indicator that these emails are coming from an impostor, yet business owners still fall for it, perhaps because they recognize the name and find the offer consistent with their expectations. special dealIn one case that deBanked reviewed, the opportunity was presented to refinance a double digit APR loan down to as low as 4% with the same lender. When the victim was asked during a deposition if that number had struck him as suspiciously low, he said it did not, especially considering his belief that he had "excellent payment history" and that he felt like it made sense to get a break after all the stresses of covid. The scammers generally communicate with perfect English over email but will also do phone calls. They use Google voice numbers in the area code that match up with the real lender. deBanked called an older one that had been used and nobody picked up. They might use the name of a real employee at the lender or create a fake one, going so far as to generate a paper trail online that shows the name of that person working for the lender. Once on the hook, they ask the victim to submit lengthy documentation over email so that the refinance can be reviewed. These are typically documents like tax returns, bank statements, a copy of a driver's license, A/R and/or A/P schedules, etc. After that the scammer moves on to the next phase, using the phished documents to apply for loans or merchant cash advances. This is where the scammer's fake broker entity comes in. These fake brokers tend to pass a background check because they rely on stolen identities that are clean, the business entities they've created under them are real and match up, there's a tax ID, there's a bank account in their name, and there's no sketchy stuff about them on the internet. They even have a website, again registered with the fake identity, that often looks like or is an outright exact copy of another broker's website. Even a diligent funding company can be duped despite a background check. Once the fake broker is signed up with a funder, the phished merchant data is submitted but with the scammer's phone number and email address. Oftentimes the deal amounts are large. deBanked reviewed several cases related to this scheme that ranged in size from $200,000 to $600,000. Since all the merchant information is legit, the merchants tend to get approved. The scammers are also adept at pretending to be the merchants in an interview phone call with an underwriter, like the one I listened to previously. They can even guide the merchant through a funder-mandated bank verification under the illusion that it's all related to their current lender for the refinance. If any questions arise about the mention of another financial company name, it's explained away as an affiliate partner or related vendor that they use. bank buildingOnce the scammer is confident the funds are coming, they tell the merchant the refinance has been approved and that there is a narrow window to complete the final steps. As part of this they send a lengthy legalese-filled digital contract with an e-sign for the fake refinance that looks exactly like their real lender's, again reinforcing how legitimate the whole thing feels. Once complete, they're told that a large wire will be arriving in their account, which will actually be from the funding company they don't know about. In a normal refinance, a lender might withhold a portion of the new loan to apply to the outstanding balance, but in these cases the victims are told that they have to receive the full amount of the funds from their lender first and then wire the outstanding balance of the loan straight back to the lender. The merchant nets the difference if there is any left over. This round-trip transaction is communicated as being their way of managing their accounting, an excuse that again seems to come across as plausible to those that think they're dealing with their trusted lender the whole time. In the earlier iterations of the scheme, the name on file for the bank account to wire the funds to would look almost identical to their lender's name. When the victim sends the wire to pay off their outstanding loan, they are completely unaware that they have just wired funds to a scammer and that the entire thing had been a very elaborate ruse. It's not until days later when their account starts getting debited by a funding company they have never heard of as part of an agreement they had never entered into do they become alerted that something is amiss. By then it's too late. Doubly too late if the funder has also wired the fake broker a commission for putting the whole deal together in the first place. Although the scheme can yield several hundred thousand dollars at a time, it ultimately results in the loss of their fraudulently opened bank accounts as the funders respond with an investigation that can include litigation and/or a report to law enforcement. That means the scammers have to open new accounts under new stolen identities. That's easier said than done, which is perhaps why last year they apparently improvised on this step. They don't need to open bank accounts for the fake lenders anymore. Instead, according to at least three examples reviewed by deBanked, they're more recently asking the victims to wire the funds to the general deposit account of a cryptocurrency exchange. If this sounds like it would be too obvious, consider that it has worked. The wire forms, which look identical to the earlier versions, are only different in that they contain a different account name to send the funds to. The lender's logo can still be found on the top. EthereumIn one case, deBanked was able to obtain records that allowed for the funds to be traced. The scammer had the exchange convert the wired funds into Ether, to which the Ether apparently moved between three crypto exchanges before disappearing into a generic holding address of an offshore exchange with millions of transactions. Another dead end. deBanked emailed one of the two exchanges it reviewed related to this scheme to ask about their customer KYC procedures but received no response. The other was not contacted to avoid tipping them off to a possible active investigation. The exchanges both have deposit accounts at US banks, both of which are known for their fintech relationships. Typically, crypto exchanges that take on US customers do rely on some level of KYC. It appears based on limited evidence so far that the crypto accounts opened up by the scammers are done under the stolen identities of the merchants so that everything matches when a wire comes in. This is where it gets murky because the scammers may ask the merchants to take selfies of themselves, ones that could include holding up their ID in their hand or holding a piece of paper with a specific written message on it as proof that it's them. That a merchant might jump through these hoops on the belief that it's all to secure a purported refinance with their existing lender requires some suspension of disbelief, though many online finance companies these days are requiring varying levels of customer identity verification. The outcome, in any case, is that millions of dollars have been purportedly stolen over the course of several years. The scam has been directed at all sorts of funders, from the A paper players to the Z paper players. The merchants, as the original dupes that make this possible because they fall for a basic phishing scheme, are also left to pick up the pieces. The scammers may have even scammed another high profile scammer, at least according to documents reviewed by deBanked. There's a brazen fearlessness to it all. A main connecting link has been funders that will do large deals, hundreds of thousands of dollars in a single transaction. But that might be changing. Industry chatter more so than hard evidence suggests the web of intended targets might be growing and that thanks to innovations with AI and crypto, the scammers may attempt to use artificial identities for the brokers rather than real ones. A lot of the steps involving bank accounts and stolen identities are no longer as necessary, which means if you're a funding or lending company and you're reading this, you may be vulnerable. Sources familiar with the matter say that it's good practice to remind your customers about possible phishing risks and to keep them informed about what methods of communication you will use throughout the life of the relationship. This includes whether or not you might employ phone calls, emails, texts, or snail mail communications, and the precise sender information they should expect. This might limit the likelihood of your own customers from getting phished but there's tactics you can use to prevent becoming the victim funding company as well. According to Alex Shvarts, a good start is only conducting a merchant interview on phone numbers assigned to the business. "If it’s a cell phone we have to have a cell phone bill that verifies the owner's information," he says. Also, if the customer has a website, avoid communicating with them over a free email address like Outlook or Gmail or Proton Mail and instead direct all communications to an address on their company domain name, one you've confirmed is really theirs and not a boilerplate setup by the scammers to deceive you again. Other possible steps are to use live ID verification or a common tool like CLEAR, he suggests. Shvarts wouldn't disclose some of the proprietary methods they've come up with so as not to tip off a scammer reading this. scammerWhen it comes to the broker, do proper due diligence. It's been said that a fake broker may test the waters with a small deal first before submitting the large fraudulent one to generate a level of confidence that everything is on the up and up. According to documents reviewed by deBanked, the scammers typically rely on a relatively bare bones website for their fake broker shop, a collection of borrowed templates and verbiage from other companies out there. It's a rabbit hole that can lead one down many wrong directions, especially in an era when similar bare bone lead gen sites litter the internet by the thousands. Consider doing a FaceTime or Zoom call with the broker so that you can see if their face matches the identity that's been provided! The scammers have used different domain name registrars and hosting services. They may push for a weekly or monthly payment option so as to create lead time between when the victim wires the funds to them and when the first debit hits from the funder they've targeted for it. They seem to prey on merchants that have an outstanding business loan rather than an MCA because it makes the low in-house interest rate refinance all the more plausible. So if you see debits in an applicant's bank account from any one of the more commonly known online business lenders, you should be thinking about this story and ways to make sure you are speaking with the actual business owner. Do they know who you are? Have they been offered a refinance? Do they even know who their broker is? "When you first identify the fraud, notify law enforcement including the FBI," one source familiar with the matter said.



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Stories

Sean Murray to Moderate Best Practices Panel at New York Institute of Credit Event

October 15, 2018
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deBanked President and Chief Editor Sean Murray will be moderating a best practices panel at the New York Institute of Credit Event on October 16th. The event is also supported by the IFA Northeast, the Alternative Finance Bar Association, and deBanked.

The subject of the panel is to discuss best practices when dealing with different financial firms, namely ABL, factoring, and merchant cash advance. The panelists are:

  • Bill Gallagher, President, CFG Merchant Solutions
  • Bill Elliott, President, First Business Growth Funding
  • Raffi Azadian, CEO, Change Capital
  • Dean Landis, President, Entrepreneur Growth Capital

Merchant Cash Advance APR Debate (Sean Murray v Ami Kassar)

November 24, 2015
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The other day, Inc. writer and loan broker Ami Kassar took some time out of his day from taking photos of his shadow in the park to engage me in a debate about the use of APRs in future receivable purchase transactions. He was apparently very bothered by my analysis of Square’s merchant cash advance program which has transacted more than $300 million to date.

To clarify my position here, I am indeed in favor of transparency, so long as it’s intelligent transparency. Coming up with phony percentages based on estimates and applying them to transactions where they don’t make sense is not transparency. Similarly, advocating that merchant cash advance companies and lenders alike move away from a dollar-for-dollar pricing model to one that requires the seller or borrower to do math or hire an accountant is also not transparency.

Even a Federal Reserve study that attempted to prove merchant cash advances were confusing inadvertently proved that APRs in general were confusing. If someone doesn’t know how to calculate an APR, then it’s unreasonable to assume that they could work backwards from an APR to determine the dollar-for-dollar cost of capital. In effect, APR is a surefire way to mask the trust cost despite arguments to the contrary.

My unplanned debate with Ami Kassar on twitter is below:

Sorry Ami. The only thing unclear is your argument.

Murray Loses Election for ENS Foundation Directorship

May 21, 2023
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BlockchaindeBanked president Sean Murray was one of two nominees earlier this month for an open director position of the ENS Foundation. ENS stands for the Ethereum Name Service, a protocol that allows users to substitute human readable usernames for long hexadecimal strings commonly associated with crypto addresses.

Instead of one’s address looking like this: 0x64233eAa064ef0d54ff1A963933D0D2d46ab5829, it could be debanked.eth or debanked.com or sean.debanked.com or some other domain name owned by the user.

Murray has been an advocate for ENS names as a form of web-based identity. He was one of the first 500 people in the world to use a .com address as an ENS name and the first in the world to turn a .com address into an NFT on mainnet using the official ENS Namewrapper contract. debanked.com, for example, is not only a website address, but also a crypto address and an NFT. Murray has been studying crypto since 2014 and deployed his first deBanked smart contract to ethereum in 2021.

Murray lost the election in a blowout but has expressed that his candidacy led to some positive changes in the ENS ecosystem. The ENS Foundation represents the technology’s official DAO. Murray’s competition was more qualified than he was for the role. The victor, Alex Van de Sande, helped launch ethereum, launched the first Ethereum wallet and Web3 Browser, and was a co-founder of ENS.

“I anticipate there eventually being some crossover between the traditional financial system and blockchain technology,” Murray said. “A username system would be an integral part of that. I’m not into speculating on coins or anything of that nature.”

Don’t Just Say You Can Do SBA Loans, Learn How to Broker Them

April 6, 2024
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SBA Loan“As in anything else, once you master the learning curve, you’re fine,” says Bob Coleman. “The reason why SBA lending is difficult is you may not know the rules.”

And that’s where Coleman comes in, a former lender turned news source and educator of SBA loan brokers, he offers his own online course called the Certified SBA Loan Broker Training, which is open to commercial loan brokers of various backgrounds that want to master SBA. Without training, brokers unaccustomed to the process can get lost and bogged down if they try to figure it out on the fly.

For instance, “If you drop something off at your lender, the lender is going to come back with 15 things and you may not know exactly what they want,” Coleman says, “and therefore the difficulty arises when you don’t know exactly what the lender wants and you ask the borrower and then it becomes a long drawn out affair.”

It’s precisely this scenario that scares brokers accustomed to light paperwork and perks like 2-hour approvals in the short-term working capital space from even attempting to try their hand at SBA. But even the merchants can be scared off by a longer more arduous process. Coleman also acknowledges that there has been a collective awakening throughout the mainstream commercial finance space that speed is on every business owner’s mind.

But speed can be a matter of experience and just knowing what to do, how to do it, and who to do it with. Besides, in an era of creeping one-stop-loan-shops that can do it all, it will become increasingly difficult for today’s broker to tell a customer that they don’t really know how to do the harder stuff and to always default to a short term loan or MCA when the broker next door is ready to put an SBA loan together if that’s the best course of action. As most brokers are aware, many short-term working capital brokers also offer equipment financing at the very least and vice-versa these days.

money“A successful broker is one that cultivates a relationship with a few lenders,” Coleman says. “A broker is more entrepreneurial [versus an in-house business development officer], has access to a number of different products, and they work with a core level of lenders or funders.”

And that all comes down to training, which Coleman’s course offers for SBA.

“The loan broker course is geared for loan brokers who have a basic knowledge of commercial lending,” Coleman says. “We’re not going to go through and tell them how to analyze an income statement or a balance sheet, but we are going to tell them what SBA lenders are looking for.”

Coleman’s course is designed to take 12 weeks, though with it being online those enrolled can move at their own pace. As a benefit those taking the course get access to Coleman himself and can ask him questions and can join his weekly live show. There’s also the Coleman Roundtable where brokers and lenders dial in together once a week so that lenders can provide updates on what type of deals they’re looking for.

“It’s always a moving target of what the lenders will do,” Coleman says, “As we go through economic cycles, lenders tweak their credit boxes of what they want, and the brokers have to understand the lenders have a tremendous amount of pressure from a lot of stakeholders on how they want their portfolios to look.”

To that end, any broker that maybe tried their hand on an SBA loan in the past and walked away discouraged shouldn’t give up on it entirely.

“SBA is constantly changing,” Coleman says. “If you had a bad experience three or four years ago with a particular lender, forget about it and find out what’s new.”


Bob Coleman will be speaking alongside Sean Murray at Broker Fair New York City on May 20 if you’d like the opportunity to learn more from him and pick his brain in person.

A New Commercial Financing Expo Is Coming to Las Vegas This Fall

March 4, 2024
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Las VegasComing to Las Vegas in 2024, an inaugural commercial financing expo powered by deBanked in collaboration with the Small Business Finance Association will be held in the Fall. The conference will bring together the leading lenders, funders, and brokers from across the spectrum of commercial finance, leasing, mortgage, and revenue-based capital products. The event will replace deBanked’s annual CONNECT event that has typically taken place in San Diego.

“We’ve had our eye on Las Vegas for a long time and resolved last September that we’d aim to go there next,” said deBanked founder Sean Murray. “We’ve built up years of experience through running the annual Broker Fair conference in New York City and this event will have everything from across the commercial finance and small business finance industries.”

“deBanked is a powerful industry leader and we look forward to working with them to produce a high level event where the commercial finance industry can learn and network together,” said SBFA Executive Director Steve Denis.

The deBanked team has produced nearly two dozen events since 2017. Additional information will be made available soon. For inquiries, email events@debanked.com or call 917-722-0808.

First Ever Domain Name Loan by Smart Contract Was Executed on Ethereum

January 27, 2024
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EthereumHistory was made on Saturday when the first ever loan against a domain name was executed with a smart contract on the Ethereum blockchain. The significance is that the success marks the birth of a new asset class that can be leveraged to unlock capital for business owners or domain name investors in an expeditious and secure manner.

deBanked founder Sean Murray was the executor of the transaction. The process involved tokenizing a domain name (domainfi.net) into an NFT and then offering that NFT as collateral on an NFT loan marketplace. When a loan was executed on the platform with a smart contract, the domain name was automatically placed into an ethereum address to be held as escrow. If the borrower were to default on the loan, the smart contract would automatically release the domain name to the lender, who would now have full control of it.

The process involved two parties, the tokenizing registrar and the NFT loan marketplace. The loan, which was consummated for proof of concept, carried a 10% APY and a 7-day term. It took less than 20 minutes combined to complete the tokenization and loan execution process.

“I was guessing that this capability might still be another year away and I had not even dreamed that I would be the very first one to execute this type of loan,” said Murray. ā€œFollowing this space closely probably contributed to that stroke of luck. There is still time until this is ready to be a consumer-facing product in the marketplace, but the tech already exists and transactions of this nature are already viable. It will be fascinating to watch.”

About deBanked

deBanked was launched in 2010. For questions or inquiries email info@debanked.com and call 212-220-9084.

Hundreds of Brokers Registered for deBanked CONNECT MIAMI

January 9, 2024
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deBanked CONNECT MIAMI 2024MIAMI BEACH ā€“ Hundreds of small business finance brokers are registered for this year’s deBanked CONNECT MIAMI. Taking place on Thursday, January 11 at the Miami Beach Convention Center, the event’s modified format includes the first-ever Broker Battleā„¢ with a $5,000 grand prize to the winning broker, on top of an all-kosher food experience. That’s in addition to a featured presentation from David Goldin, the first-of-its-kind Broker Brilliance education session, tech demos, networking, and cocktails. Bitty Advance is the Title Sponsor.

“This is our sixth event in Miami,” said conference founder and deBanked President Sean Murray. “I think kicking off a new year is as good a time as ever to reinvent yourself and change things up. I’m really excited for this show and I think 2024 is going to be a truly unique year.”

Registration opens at 1pm on Thursday and the event culminates with the Broker Battle at 5:10pm. That will lead right into the cocktail networking reception.

About deBanked CONNECT Miami

deBanked CONNECT events are operated by Foinse, LLC. Foinse, LLC is an events company based in Brooklyn, NY. To learn more visit: http://www.debankedmiami.com. For inquiries, email events@debanked.com.

deBanked CONNECT San Diego Reviewed

September 26, 2023
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debanked connect san diegodeBanked CONNECT marked its return to San Diego at the Wyndham Bayside Hotel directly across from the waterfront on N Harbor Drive, a prime location accompanied by many museums, restaurants, and a calming view of North San Diego Bay. The timing of the event paired perfectly with the Miramar Air Show, Hispanic Heritage Weekend, Adams Avenue Street Fair and other festivities taking place that weekend.

deBankedā€™s Chief Editor, Sean Murray opened the event by noting that California’s Commercial Financing Disclosure Bill thankfully didn’t cause the world to end. He also highlighted that California is the industry’s third-largest market, following Miami and New York. To his surprise, many attendees were experiencing a deBanked event for the first time.

Justin Thompson, CRO at National Funding, said that prior to deBanked’s expansion to the locale in 2018/2019 that most of the events there had to do with merchant processing, SBA loans, or equipment financing and that the 2019 show set the tone for more events to be brought out to the Southern California.

ā€œIt was great, I think it was appropriate to have something out here on the West Coast ā€“ probably in terms of the count of brokers is more on the East Coast ā€“there’s also some pretty large brokers on the West Coast and I think it was real good opportunity to have everybody here on the West Coast that maybe couldnā€™t have gone to the East Coast to do stuff,ā€ said Thompson. ā€œThere’s some new faces and some new opportunities to meet the people and build new relationships.ā€

deBanked CONNECT San Diego showcased tech demos from Ocrolus, Onxy IQ, and Dragin. Guest speaker Tye Hanna, CEO of Titan Asset Management, touched on what MCA portfolios are worth and how to value them. And Brock Blake, CEO of Lendio, drew in a large crowd discussing tech platforms that have entered the lending space and the necessity of innovation.

The panels began with the ā€˜Legal and Regulatory Developmentsā€™ with David Austin, Marshall Goldberg, and Scott Pearson and concluded with ā€˜Navigating the New Normalā€™ featuring Patrick Manning, Benjamin Flowers, Josh Jones, and Shelley Shivers.

At the end, attendees gathered on the outdoor terrace to unwind and continue the networking. The sunset met guests exactly as it began, a beautiful way to conclude the day. deBanked CONNECT Miami was also announced and set to be for January 11, 2024.

Threads on deBanked


07-03-2019

Inform More, Earn More...
dale laszig has written a terrific article (http://www.greensheet.com/emagazine.php?article_id=6033) on the green sheet (http://www.greensheet.com/) a...




Found on DailyFunder:

07-03-2019

Inform More, Earn More...
sean murray, president and chief editor at*debanked, makes great points about education for sales agents being paramount to their success.*if knowledgeable about the diversity of financial products, and their distinctions from one another, agents can*help customers make informed decisions, which allows them to close more deals., , *, , customers trust in the person, brand or company they are working with is...
06-07-2019

How in the WORLD!!!??...
sean murray over at debanked to do a nice piece for his magazine debanked., , this is just getting crazy!!! still waiting for approval/denial and merchant has been called 4 times already.... wwooowwwwww!!!!...
01-28-2019

Quicksilver...
sean murray would have stepped in to stop this but i guess doesnt want to hurt his bottom line...