Articles by deBanked Staff

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Boiler Rooms Are Not Brands, Kabbage CEO Says

April 21, 2018
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Rob Frohwein, CEO of Kabbage, at Lendit 2018

Kabbage CEO Rob Frohwein has a knack for speaking his mind at lending conferences and LendIt two weeks ago was no different. Below are some of the most notable quotes from his April 10th presentation. On building a brand Unfortunately, in the online lending space, most companies basically think that boiler rooms = brand. Boiler […]

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Industry Representatives to Testify at California Hearing

April 18, 2018
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Sacramento Capitol

Above: The Sacramento Capitol Read what was said in the hearing Several people will be testifying in front of the Senate Committee on Banking and Financial Institutions in California today. Among them are Joe Looney, COO & GC at RapidAdvance, who will be speaking on behalf of the Small Business Finance Association, and Katherine Fisher, […]

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World Business Lenders Responds to the New York Post Story

April 13, 2018
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World Business Lenders Ribbon Cutting Jersey City

Above, company CEO Doug Naidus poses alongside state and local community leaders for World Business Lenders’ ceremonial Jersey City grand opening ribbon cutting in July 2016 A controversial story published in the New York Post earlier this week about World Business Lenders has drawn a response from the company. The text below was circulated by […]

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Lendr Launches New Business Debit Card

April 9, 2018
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Lendr at LendItFintech

Chicago-based Lendr is launching a new business debit card program, according to an announcement the company made at LenditFintech. This will give them the ability to fund business owners in real-time via an instant access virtual Mastercard followed up with a traditional plastic card. This system is different than pushing funds to a merchant’s existing […]

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Usury Suit By Higbee & Associates Made Null and Void By Judge

April 3, 2018
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lawyer going to the courthouse

An attorney suing merchant cash advance companies in New York has once again been told by a judge that he was ineligible to file a lawsuit in the state. Rayminh Ngo, of counsel with Higbee & Associates, a law firm that tries to sue merchant cash advance companies for usury, met his demise on Tuesday […]

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Caught! Backdoored Deals Leads to Handcuffs

April 2, 2018
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arrest snapshot

Above: A female employee (different from the one arrested last year) is led out in handcuffs by police last week A case of sneaking deals out the backdoor has resulted in another arrest at Yellowstone Capital. According to someone familiar with the arrest and the events leading up to it, an employee was led out […]

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Debt Relief Scammers’ Assets To Be Auctioned Off

March 20, 2018
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bmw i8

A crew of debt relief scammers that carried out an $80 million fraud are having some of their assets auctioned off in Pompano Beach, FL this week. Among them a Tesla, BMW i8, Range Rover and custom luxury buses. According to the FTC and the State of Florida in a lawsuit they filed against Jeremy […]

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Preliminary 2017 Small Business Financing Leaderboard

March 14, 2018
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2017 Small Business Financing Leaderboard

Thanks to several companies recently filing their annual earnings statements and Funding Circle this week disclosing their USA origination figures for 2017, we’ve been able to put together a preliminary leaderboard in the small business financing space. This list is not comprehensive and omits key players like PayPal Working Capital and Amazon Lending. Company Name […]

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What’s a Broker To Do? Industry Execs Offer Their Insight

March 12, 2018
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Free Advice

Below are excerpts from separate interviews with four industry executives when asked for tips or advice for brokers: “I would just say to be in it for the long haul. Play the long game. Be the kind of quality partner that you would want in return. There are some brokers and referral sources in this […]

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John Oliver Preaches Caution and Responsibility On Cryptocurrency

March 12, 2018
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John Oliver Cryptocurrency

HBO Talk Show host John Oliver showed restraint while taking down cryptocurrencies Sunday night. Although he criticized alleged ponzi schemes like Bitconnect and poked fun at the absurdity of EOS’s valuation, his overall message was to approach the technology with caution. Bitconnect was an easy target now that the company has shut down and a […]

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