Articles by Ed McKinley

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So God Made a Farmer, But Who’s Financing The Farms?

May 1, 2019
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This story appeared in deBanked’s Mar/Apr 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Most mornings, farmers and ranchers wake up worrying about uncooperative weather and volatile commodity prices. Just the same, they pull themselves out of bed to spend the morning tinkering with crotchety machinery or wrangling uncooperative livestock. When they break […]

Deal Flow in the Heartland — From Mississippi and Beyond

February 23, 2019
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This story appeared in deBanked’s Jan/Feb 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE The political, cultural and economic abyss that separates the heartland from the coasts seems to grow deeper and wider with each passing day, and trying to reconcile the disparities can feel nearly hopeless. But differences among geographic locations aren’t […]

THE ABCs OF SBDCs

December 16, 2018
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This story appeared in deBanked’s Nov/Dec 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE An often-overlooked national network of nearly a thousand Small Business Development Centers has the potential to help alternative funders cement relationships with existing clients and locate new ones. The centers, known as SBDCs, offer free or low-cost training and […]

Is Small Business Lending Stuck in the Friend Zone?

October 23, 2018
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This story appeared in deBanked’s Sept/Oct 2018 magazine issue. To receive copies in print, SUBSCRIBE FREESmall-business owners have lots of places to go for capital, and the alternative small-business funding industry doesn’t exactly top the list, recent research shows. In fact, entrepreneurs claim they’re more than four times as likely to receive funding from a […]

Grooming The Best Sales Reps

August 22, 2018
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panel at broker fair

This story appeared in deBanked’s Jul/Aug 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE The best sales reps have a lot in common – they’re smart, honest, likable, well-organized, thick-skinned and hungry for success. They navigate the difficult early days of their careers in the alternative small-business funding community by persevering despite long […]

Wayward Merchants

April 19, 2018
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escape

This story appeared in deBanked’s Mar/Apr 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE Wayward merchants and outright criminals are continuing to bilk the alternative small-business funding industry out of cash at a dizzying pace. In fact, an estimated 23 percent of the problematic clients that funders reported to an industry database in […]

Mad Over Madden

March 15, 2018
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disagreement

This story appeared in deBanked’s Mar/Apr 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE In a dispute that reflects the nation’s rigid political polarization, a piece of legislation pending before Congress either corrects a judicial error or condones “predatory lending.” It depends upon whom one asks. Either way, the proposed law could affect […]

Banks, Alt Funders Continue to Compete for Small Business

February 13, 2018
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banks, alternative funders

This story appeared in deBanked’s Jan/Feb 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE The alternative small-business finance industry owes its very existence to banks’ reluctance to lend money to mom-and-pop shopkeepers, tradespeople and restauranteurs, but bankers’ tight fists may be loosening. Small-business owners are reporting better results when they apply for bank […]

Goodbye Liens and Judgments

October 28, 2017
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SHREDDED

This story appeared in deBanked’s Sept/Oct 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE Credit Bureaus have stopped reporting this data, so now what? Justice can require sacrifice. Take the example of a decision by the three major credit bureaus – Equifax, Experian and TransUnion – to stop including some liens and most […]

LendingPoint: CAN Capital’s Close Neighbor in Kennesaw

August 14, 2017
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welcome to kennesaw

This story appeared in deBanked’s Jul/Aug 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE LendingPoint, a consumer lender staffed largely by former CAN Capital employees, may have something to teach the alternative small-business finance industry about creditworthiness. Three-year-old LendingPoint claims to go beyond FICO scores to bring each applicant’s sense of fiscal responsibility […]

Humans vs. Bank Statements – An Underwriting Journey

June 8, 2017
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bank statements

This story appeared in deBanked’s May/June 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE Automation hasn’t replaced humans yet when it comes to reading bank statements in the alternative small-business finance industry. ISOs, brokers, funders and underwriters still fend off drowsiness and ignore the risk of eye strain as they pore over months […]

Text The Merchant, Close The Deal

April 15, 2017
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Merchant texting at work

This story appeared in deBanked’s Mar/Apr 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE About a year ago, Cheryl Tibbs, general manager of Douglasville, Ga.-based One Stop Funding, was having trouble getting in touch with one of her clients. The merchant in question runs a lawn care service and is usually out on […]

The Road To Training The Best Sales Reps

February 26, 2017
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Sales Training

This story appeared in deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE Alternative-finance industry executives tend to agree on at least two basic rules for building a successful sales team: Hire people who know how to sell and never stop training them. Following the second rule requires knowledge and perseverance. The […]

As NY Lending License Proposal Looms, Industry Trade Groups Mobilize

February 13, 2017
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NY State Capitol

The alternative small-business finance community plans to lobby hard against a far-reaching proposed expansion of the New York state lending license. The proposal calls for any person or company that solicits, arranges or facilitates business and consumer loans – or other types of financing – to obtain a license. That could include MCA companies, business […]

The LendIt Story

February 12, 2017
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Bo Brustkern

This story appeared in deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE LendIt Co-founder Jason Jones The LendIt Conference was supposed to be a smallish local meetup for New York-based members of the online lending community. But founders Jason Jones and Bo Brustkern soon discovered they had the makings of a […]

A True Rapid Advance For Mark Cerminaro

December 16, 2016
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Mark Cerminaro - Top Half of deBanked Cover

This story appeared in deBanked’s Nov/Dec 2016 magazine issue. To receive copies in print, SUBSCRIBE FREE In the 1999 film “Any Given Sunday,” Al Pacino plays a pro football coach whose obsession with winning has torn apart his family. He’s also plagued by a meddlesome team owner, challenged by an offensive coordinator who’s after his […]

Sunshine and Deal Flow: Who’s Funding in Puerto Rico?

September 1, 2016
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Funding Small Businesses in Puerto Rico

This story appeared in deBanked’s Sept/Oct 2016 magazine issue. To receive copies in print, SUBSCRIBE FREE Lots of small businesses need capital in Puerto Rico and not many companies are trying to provide it. Combine that with the island’s tax incentives, tourist attractions and gaggle of ambitious entrepreneurs, and America’s largest unincorporated territory can seem […]

Is The “Uber” Of Merchant Cash Advance Actually Uber?

August 15, 2016
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Uber With Sign in Window

This story appeared in deBanked’s Jul/Aug 2016 magazine issue. To receive copies in print, SUBSCRIBE FREE If imitation is the sincerest form of flattery, Uber is paying the alternative small-business finance industry a high compliment. The San Francisco based ride-sharing company is offering its drivers some programs that closely resemble merchant cash advances. New drivers […]

FIRE DRILL IN ILLINOIS: BUSINESS FUNDING COMPANIES TARGETED IN REPRESSIVE BILL

June 30, 2016
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Government vs. Business

This story appeared in deBanked’s May/June 2016 magazine issue. To receive copies in print, SUBSCRIBE FREE * Update 6/30 AM: Sen. Jacqueline Collins, D-Chicago is expected to introduce a revised bill today. ** Update 6/30 PM: Reintroduction of the bill has been delayed while they wait for comments from additional parties Bankers and non-bank commercial […]

Stairway to Heaven: Can Alternative Finance Keep Making Dreams Come True?

April 28, 2016
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deBanked Marketplace Lending Cover

This story appeared in deBanked’s Mar/Apr 2016 magazine issue. To receive copies in print, SUBSCRIBE FREE The alternative small-business finance industry has exploded into a $10 billion business and may not stop growing until it reaches $50 billion or even $100 billion in annual financing, depending upon who’s making the projection. Along the way, it’s […]