Articles by Gerelyn Terzo

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BFS Capital Launches Canadian Tech Hub

October 16, 2019
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Small business lender BFS Capital is making an expansion push with the creation of a new data science and engineering hub in Toronto. BFS, which serves customers in a trifecta of jurisdictions that in addition to Canada includes the U.S. and the UK, has undergone a technological transformation that includes building out a tech team […]

OnDeck Takes Advantage of New Same-Day ACH Technology

April 12, 2019
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Same-day ACH is here, thanks to NACHA’s planned upgrade, and OnDeck, a small business lender, has already incorporated it into its platform. Shaleen Prakash, OnDeck’s Vice-President of Product Management, told deBanked: “We are hyper-focused to get customers faster access to funding that’s already been approved for them.” Small business owners can now access up to […]

As Implementation of FICO’s UltraFICO Approaches, Upstart Says The Value is There

November 5, 2018
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The rise of fintech has already rocked the banking and traditional lending industry and now it’s disrupting FICO, the traditional credit scoring method that’s been in place since the mid-1900s. FICO, which is the credit scoring system created by Fair Isaac Corp, is getting a makeover. The UltraFICO Score, which is scheduled to launch in […]

Square Expands into Consumer Lending, Keeps Banking Hopes Alive

October 16, 2018
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Square is no stranger to payments and is looking more and more like a bank every day. Square Capital already facilitates loans to small businesses, and now they’re expanding into consumer loans. Meanwhile, it’s been several months since Jack Dorsey’s fintech startup withdrew its application to become an Industrial Loan Company (ILC), but Square’s banking […]

Digital Mortgage Lender “Better” Goes Where No Fintechs Have Gone

October 8, 2018
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Eric Wilson

Eric Wilson, co-founder, Better Mortgage One product noticeably absent from fintechs expanding into lending or banking is mortgage loans, but now a fintech startup is looking to disrupt the $13 trillion mortgage industry. Eric Wilson is co-founder and head of operations at Better Mortgage, a New York-based digital mortgage lender. Wilson explained to deBanked: “Our […]

Varo Money Chief Eyes Next Year for Bank Launch

September 10, 2018
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San Francisco-based Varo Money just cleared a major hurdle in its pursuit to become a bank. Varo Bank N.A. received the preliminary green light from the Office of the Comptroller of the Currency (OCC) to form a de novo national bank. It brings Varo one step closer to becoming the maiden all-mobile national bank in […]

Ron Suber: ‘This Industry Will Look Very Different One Year From Now’

February 25, 2018
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Ron Suber

Ron Suber wears many hats. His official LinkedIn profile lists him as President Emeritus and Senior Advisor at Prosper Marketplace. Now you can add a new title to his repertoire – the Magic Johnson on fintech. That’s because when it comes to Suber’s legacy, he’s all about the passing game. “I really enjoy the assist […]

BFS Capital’s Marrache on Canadian Small Business Landscape

January 28, 2018
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Michael Marrache

Michael Marrache, CEO, BFS Capital It’s been about five months since Michael Marrache took the reins as CEO of BFS Capital. He spoke with us then about the company’s algorithmic solutions, ISO relationships and product pipeline. He recently took some time to talk with deBanked about the key themes in the Canadian market in 2018 […]

Creating a Credit Standard for Canadian Merchants

December 26, 2017
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Jeff Mitelman Thinking Capital

Jeff Mitelman, CEO, Thinking Capital The Canadian alternative lending market is in earlier innings than the US market, which creates unique opportunities for funders and merchants alike. Indeed, the Canadian market is one comprised of nuances that distinguish it from the lower 48, which we have spotlighted before, and 2018 is shaping up to be […]

MCA’s Top Social Media Voice

December 18, 2017
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Jennie Villano

LinkedIn has unveiled its top 10 voices for marketing and social media. Fintech did not make the list, but perhaps the social networking site didn’t look hard enough. If they had been following Jennie Villano, who on Dec. 1 joined Kalamata Advisors as vice president of business relationships, that list might have included a nod […]

Hard Work, Big Success – The True Story of an MCA Broker

December 15, 2017
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Sales is a tough field for anyone to break into even if they come from the most ideal of circumstances. At some point, the rubber meets the road for every MCA broker, at which time they must decide whether they’ve got what it takes to make it in this business. Lerry Dore, Cresthill Capital This […]

Kabbage Crosses $4 Billion in Loans, Taps C-Suite Exec for Intl Expansion

December 6, 2017
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Victoria Treyger, Kabbage

Above: Victoria Treyger, Chief Revenue Officer, Kabbage Alternative lender Kabbage is exiting 2017 with a bang, having just crossed the $4 billion threshold for loans deployed across more than 130,000 small businesses so far. The latest milestone represents a 30% spike in both total funding and the number of merchants on its platform since April […]

Canadian Merchants Show An Appetite For Capital

November 25, 2017
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Vancouver, BC

In Canada, the average deal size for a merchant is anywhere between $20,000 and $30,000 in funding, depending on who you ask. That’s why when one startup recently funded a $300,000 CAD advance from its balance sheet to a Canadian merchant, the deal turned some heads. While it’s unclear whether this amount could be indicative […]

Kabbage Taps Debt Capital Markets for a Cool $200 Mil

November 16, 2017
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Kabbage Logo

Kabbage has been accessing the capital markets fast and furiously, most recently on the debt side. Today they’ve announced a new $200 million asset backed revolving credit facility with Credit Suisse. Just a couple of months ago, Kabbage attracted $250 million in equity to its coffers from SoftBank, which the alternative funder will direct toward […]

The Bad Broker And Merchant Due Diligence

November 15, 2017
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robbers

There may be a rogue broker on the loose. The scam involves a fraudulent Letter of Intent (LOI) falsely claiming to be that of a major funder designed to resemble the real McCoy. Events like this place a spotlight on the risks associated with this market and is a reminder that not all small businesses […]

From Ineligible to 0% APR – Los Angeles Company Monetizes Startup Leads, Combats Stacking

November 10, 2017
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Credit Cards

Merchants have no shortage of options when it comes to accessing funding in today’s climate. And while MCAs and loan products have become more pervasive, one company’s solution is to reintroduce traditional financing in a strategic manner. Seek Business Capital finds credit card offers and credit lines for the credit-worthy who may not be eligible […]

CFC on the Front Lines of the MCA Regulation Battle

November 6, 2017
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Capitol Building

As the US Senate attempts to reach a bipartisan agreement on relaxing some of the rules in the Dodd Frank legislation of 2010 that would treat banks more favorably, the MCA industry is having to fend off legislation and regulation of its own at the state and federal levels that could position funders in a […]

View From The C-Suite: Alternative Funding Execs Talk Shop, The Landscape, And The Future

October 30, 2017
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Board room

Alternative funders have had a roller coaster 2017 with highs and lows that will likely be remembered as a high-stakes time for the industry, one in which the rubber met the road for many and the market landscape shifted for everyone from funders, to merchants to brokers. Three C-Suite executives in the alternative funding space […]

Insurtech, the Alt Lending of 2017

October 17, 2017
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InsurTech

A new asset class is emerging and it’s taking top talent away from the alternative lending space. Insurance technology, or insurtech, is a nascent market segment that presents a similar market opportunity that fintech did back in the day, sources say. And while there are parallels between the two niches, the market landscapes are unique […]

Bizfi Alum Jared Weitz Reflects on Demise of Former Employer and Rise of UCS

October 9, 2017
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Jared Weitz deBanked Magazine Cover United Capital Source

Jared Weitz has come a long way since his earlier days as one of the original Bizfi employees. Today he’s at the helm of online funding marketplace United Capital Source (UCS), which has been on a tear since deBanked last spoke with Weitz a couple of years ago. The UCS founder and chief executive took […]