Articles by deBanked Staff

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PayPal Has a Lot of Merchants and Venmo Is Adding a Boost

February 1, 2019
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Venmo

More than 21 million merchants accept PayPal to take advantage of the 246 million consumers who use it. That’s a lot of merchants to offer value-added products like PayPal Working Capital and invoicing services. But then there’s Venmo, a fast growing digital wallet that PayPal also owns that processed $19 billion in payment volume last […]

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Top Accounting Officer at StreetShares Resigns

January 31, 2019
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Military finance

Jesse Cushman, who served as StreetShares’ Chief Business Officer and Principal Financial & Accounting Officer, has resigned, according to a Form 1-U filed with the SEC this week. His exit was made effective as of January 1, 2019. StreetShares president Michael Konson is currently filling the role in an interim capacity until a permanent successor […]

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Parris Sanz Joins Petal as General Counsel

January 31, 2019
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Parris Sanz-2

Former CAN Capital CEO Parris Sanz is now the General Counsel for Petal, according to a company announcement. Petal is a US credit card aimed at the unbanked that recently closed a $30 million Series B round led by Peter Thiel’s Valar Ventures. According to a story in TechCrunch, Petal had more than 100,000 potential […]

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deBanked CONNECT Miami 2019 Photos

January 28, 2019
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deBanked CONNECT Miami 2019

Photos from the event are below Register For The Next Industry Event!

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BFS Capital Surpasses $2 Billion in Financing

January 22, 2019
Article by:

Ruddock

BFS Capital announced this morning that it has exceeded $2 billion in financing to over 22,000 small businesses across the United States, Canada and the UK. “This is a major originations milestone,” said Mark Ruddock, CEO of BFS Capital. “We’re incredibly proud to see these investments take root, as BFS Capital continues to solidify its […]

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Confessions of Judgment in MCA Make the Evening News

January 21, 2019
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news 4

Erie County Clerk Michael Kearns is no longer processing Confessions of Judgment (COJs) in Erie County for merchant cash advance companies, according to a statement his office published this week. Prior to being elected Clerk, Kearns was an assemblyman in the New York State legislature. On Monday night, Kearns appeared on Channel 4’s evening news […]

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Coming Soon: The End of Confession of Judgments (COJs) in New York State

January 16, 2019
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cuomo speech

New York State plans to outlaw the use of Confession of Judgments (COJs) in small business loan contracts this year, according to details revealed in Governor Andrew Cuomo’s newly published Justice Agenda. The proposal, dubbed “Stopping Predatory Merchant Cash-Advance Loans,” is a 3-part plan to: Codify an FTC rule that prohibits COJs in consumer loans […]

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Kabbage Finances US Small Business Customers of Alibaba

January 14, 2019
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Alibaba

Kabbage announced today that it has partnered with Chinese e-commerce giant, Alibaba, to provide financing to small businesses that purchase materials on the platform. The financing program, offered by Alibaba and powered by Kabbage, is called Pay Later. “Financing at the point of sale requires a fully automated solution that can handle the immense volume […]

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Trial of Debt Settlement Mastermind Sergiy Bezrukov Postponed, Again

January 13, 2019
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buffalo map

The trial of debt settlement mastermind Sergiy Bezrukov has been postponed until April 1, 2019, court records indicate. The planned January 14 start date was just the latest in a series of postponements. Bezrukov is charged with conspiracy to defraud, mail fraud, wire fraud, bank fraud, and money laundering. The charges carry a maximum penalty […]

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Former Merchant Cash Advance CFO Charged With Fraud by New York Attorney General

January 4, 2019
Article by:

AG-NY

A former merchant cash advance CFO and executive for a fund that provides capital to merchant cash advance companies, has been charged with fraud by the New York Attorney General. The allegations against Stephen Brown stem from his role as CFO of Cardis Enterprises International, a company that claimed to possess patented and proprietary technology […]

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