Articles by deBanked Staff

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“Out Of State” MCA Funder Not Precluded From Entering COJs in New York, Court Rules

October 18, 2018
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lawyer going to the courthouse

In May 2017, Funding Metrics (FM), a small business funding provider, entered a signed Confession of Judgment (COJ) in Westchester County, NY against a California-based customer. The Court issued a judgment a mere five days later. That should have been the end of it, but on July 26th, the customer hired law firm White & […]

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

October 15, 2018
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BrokerFair2018Conference__37

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 […]

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Congressman Tom MacArthur Visits CFG Merchant Solutions’ NYC Office

October 15, 2018
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cfg-pic

United States Representative Tom MacArthur, who represents New Jersey’s 3rd District, visited the NYC office of CFG Merchant Solutions on Monday. MacArthur has been in office since 2014. CFG Merchant Solutions moved into the 180 Maiden Lane office earlier this year. The company is a member of the Commercial Finance Coalition (CFC). Adam Sloane of […]

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NJ Legislature Aims to Classify Merchant Cash Advance as a Loan in New Disclosure Bill

October 15, 2018
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New Jersey Capitol Building in Trenton

S2262 in New Jersey, a bill to require disclosures in small business lending, was amended this afternoon to define merchant cash advances as small business loans for the purposes of disclosure. Banks and equipment leasing companies are exempt from the bill. You can listen to the hearing here. Debate on S2262 begins at the 6 […]

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New Jersey Moves to Regulate Small Business Loan Disclosures and Brokers

October 15, 2018
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New Jersey Capitol Building in Trenton

A committee within the New Jersey State Senate convened today at 1:30pm to discuss S2262, a new small business loan disclosure bill. Similar to SB1235 in California, this bill would require all of the following on small business loan contracts less than $100,000: The APR (This was removed during the committee hearing) The annualized interest […]

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ISO Pretending to be Funder May Be Sent to Jail

October 14, 2018
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Courtroom

A New York Supreme Court judge ordered on Thursday that Long Island-based ISO JTT Funding either be fined or sent to prison if it does not comply with a previous restraining order obtained by NYC-based funder Accel Capital. Accel alleges that JTT funding has been impersonating it through correspondence and on contracts, a scheme that […]

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Capital Stack Hit With Class Action Lawsuit

October 10, 2018
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class action lawsuit

A class action lawsuit brought by former employees of Capital Stack, LLC was filed in federal court on Tuesday for damages resulting from alleged labor law violations. David Rubin, Brian Stulman, eProdigy ACH, LLC, and eProdigy Operations, LLC are also among the named defendants. Capital Stack is a merchant cash advance company based in New […]

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Ascentium Capital Hits Milestone

October 9, 2018
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company news

Ascentium Capital announced yesterday that it had surpassed $2 billion in managed assets during the third quarter of this year. It also had a 22 percent increase in funded volume over the same period last year. Altogether, the company has provided businesses with over $4 billion. “We had another strong quarter of growth with performance […]

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Everest Business Funding is a Sponsor of deBanked CONNECT – San Diego

October 3, 2018
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Everest Business Funding

Everest Business Funding 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!

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Funding Metrics is a Sponsor of deBanked CONNECT – San Diego

October 3, 2018
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Funding Metrics

Funding Metrics 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!

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