Articles by Ed McKinley

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Wayward Merchants

April 19, 2018
Article by:

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 […]

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Mad Over Madden

March 15, 2018
Article by:

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 […]

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Banks, Alt Funders Continue to Compete for Small Business

February 13, 2018
Article by:

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 […]

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Goodbye Liens and Judgments

October 28, 2017
Article by:

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 […]

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LendingPoint: CAN Capital’s Close Neighbor in Kennesaw

August 14, 2017
Article by:

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 […]

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Humans vs. Bank Statements – An Underwriting Journey

June 8, 2017
Article by:

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 […]

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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 […]

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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 […]

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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 […]

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The LendIt Story

February 12, 2017
Article by:

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 […]

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