Articles by deBanked Staff
Broadway Advance is a Sponsor of deBanked CONNECT – San Diego
October 2, 2018Broadway Advance 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!
California Now Requires Mandatory Disclosures on Commercial Finance
October 1, 2018California Governor Jerry Brown has signed SB 1235.
As of Jan 1, 2019, commercial finance companies in California will be required to disclose the following on their contracts:
(1) The total amount of funds provided.
(2) The total dollar cost of the financing.
(3) The term or estimated term.
(4) The method, frequency, and amount of payments.
(5) A description of prepayment policies.
(6) The total cost of the financing expressed as an annualized rate.
To find out if this bill affects your company, contact an attorney.
CFG Merchant Solutions is a Sponsor of deBanked CONNECT – San Diego
October 1, 2018CFG Merchant Solutions 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 is a Sponsor of deBanked CONNECT – San Diego
September 28, 2018PIRS 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!
Yellowstone Capital Introduces a Smarter Box In Move Towards Transparency
September 26, 2018Yellowstone Capital CEO Isaac Stern announced a “Smarter Box” through social media channels this morning. The itemized box will be provided to merchants through a post-funding email as part of a company effort to maximize transparency.
According to the announcement:
“[We are] very serious about maximum transparency and disclosure to our funding partners’ great merchant customers. In addition to our new Purchase and Sale Agreement we will be using with each of the funding partners on our platform, we are also implementing a transaction summary email to ensure that all applicable fees, costs, disbursements and hold-backs are clearly understood by all parties. Our new contract will increase disclosure while simplifying the product, while our summary confirmation ensures greater understanding and improved communication between our funding partners and their customers.”
Example of the box:
Based in Jersey City, NJ, Yellowstone Capital has originated more than $2 billion to small businesses since inception.
Central Diligence Group is a Sponsor of deBanked CONNECT – San Diego
September 25, 2018Central Diligence Group 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!
Check out photos from deBanked’s past CONNECT event in Miami
LoanMe is a Sponsor of deBanked CONNECT – San Diego
September 24, 2018LoanMe 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!
Check out photos from deBanked’s past CONNECT event in Miami
Download Funding Circle’s 256 Page Prospectus
September 23, 2018Funding Circle, the international peer-to-peer small business lender whose US subsidiary funded approximately $500 million to small businesses last year, is planning to go public on the London Stock Exchange. While the UK is their primary market, they ranked just below Yellowstone Capital in US funding volume last year at a level that is about 1/4th the volume of OnDeck, a direct competitor.
72 percent of their business is generated through direct marketing, while the rest comes from indirect or “intermediary” channels, the company says.
CNBC reported that the company could be valued as high as $2.4 billion.
