Articles by Paul Sweeney

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Gold Rush: Merchant Cash Advances Are Still Hot

August 18, 2019
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This story appeared in deBanked’s Jul/Aug 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Last year, when Kevin Frederick struck out on his own to form his own catering company in Annapolis, the veteran caterer knew that he’d need a food trailer for his business to succeed. He reckoned that he had a […]

Are The Bankers Taking Over Fintech?

June 27, 2019
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This story appeared in deBanked’s May/June 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE For Rochelle Gorey, the chief executive and co-founder of SpringFour, a “social impact” fintech company, mingling with industry movers and shakers at this year’s LendIt Fintech Conference was just what the doctor ordered. “I went mainly for the networking […]

Online Loans You Can Take To The Bank

April 16, 2019
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This story appeared in deBanked’s Mar/Apr 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE OnDeck, the reigning king of small business lending among U.S. financial technology companies, is sharpening its business strategies. Among its new initiatives: the company is launching an equipment-finance product this year, targeting loans of $5,000 to $100,000 with two-to-five […]

Get The Affidavit or Waive It? Examining Confessions of Judgment

February 1, 2019
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This story appeared in deBanked’s Jan/Feb 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Caton Hanson, the chief legal officer and co-founder of the online credit-reporting and business-to-business matchmaker Nav, says that his Salt Lake City-based company would not associate with a small-business financier that included “confessions of judgment” in its credit contracts. […]

Less Than Perfect — New State Regulations

December 21, 2018
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rules and regulations

This story appeared in deBanked’s Nov/Dec 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE You could call California’s new disclosure law the “Son-in-Law Act.” It’s not what you’d hoped for—but it’ll have to do. That’s pretty much the reaction of many in the alternative lending community to the recently enacted legislation, known as […]

GOING NATIONAL: How David Gilbert Built One of the Largest Small Business Lenders in the Country

October 17, 2018
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David Gilbert, CEO Of National Funding on the Cover of deBanked's Sept/Oct 2018 Issue

This story appeared in deBanked’s Sept/Oct 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE When Ty Austin, who owns a florist shop in West Palm Beach, secured a $5,000 loan from National Funding last year, he was happy to have working capital and could build inventory for mini-gardens and landscaping, The experience, moreover, […]

The Seven-Minute Loan Shakes Up Washington And The 50 States

August 19, 2018
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moneyacrossthecountry

This story appeared in deBanked’s Jul/Aug 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE It takes seven minutes for Kabbage to approve a small-business loan. “The reason there’s so little lag time,” says Sam Taussig, head of global policy at the Atlanta-based financial technology firm, “is that it’s all automated. Our marginal cost […]

Tech Changes Lending And Payments The World Over

June 25, 2018
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Taxis in Shanghai

This story appeared in deBanked’s May/June 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE On a business trip to China last summer, Matt Burton had plenty of money in his wallet but it was practically useless. Case in point: He had a lengthy standoff with a Shanghai taxi driver who insisted on a […]

Gale Force Twins

April 24, 2018
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storm cleanup

When hurricanes struck Florida and Texas, non-bank small business finance companies had to act This story appeared in deBanked’s Mar/Apr 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE As Hurricane Irma swept through the Caribbean and barreled toward the Florida Keys early last September, Wendy Vila, chief executive, at Unicus Capital evacuated her […]

The Madden Decision, Three Years Later

February 18, 2018
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Thurgood Marshall United States Courthouse

Above: United States Court of Appeals for the Second Circuit. New York, NY This story appeared in deBanked’s Jan/Feb 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE At first, reversing the 2015 Madden v. Midland Funding court decision, which continues to vex the country’s financial system and which is having a negative impact […]

The Voice of Main Street – Small Businesses Share Their Experience With Non-bank Finance

October 18, 2017
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business owners

This story appeared in deBanked’s Sept/Oct 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE If she hadn’t scored the $250,000 loan through Breakout Capital in 2015, Jackie Luo says, the commercial-software firm she heads in Baltimore could not have made the “strategic hires” and purchased the new server to support additional customers and […]

Tech Banks: Will Fintech Dethrone Traditional Banking?

August 20, 2017
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Will Fintech Dethrone Banking?

This story appeared in deBanked’s Jul/Aug 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE On Halloween, 2014, a largely unknown, Boston-based financial institution, First Trade Union Bank, embraced high-technology, went paperless, and officially adopted a new name: Radius Bank. In reinventing itself, Radius did more than dump its dowdy moniker. It shuttered five […]

The ‘Loan’ Star State – Texas is an alternative finance nexus

June 15, 2017
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Austin, TX

This story appeared in deBanked’s May/June 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE We’re at Able Lending in Austin, Texas, a financial technology company occupying three floors deep in the heart of the Seaholm power plant overlooking Lady Bird Lake. The fortress-like building anchors an inner-city complex of offices and residences, chic […]

Fintech Sandbox? States, OCC Mull Regulatory Options

May 2, 2017
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Regulatory Sandbox

It’s called the “New England Regulatory FinTech Sandbox.” Cynthia Stuart – Deputy Commissioner of Banking, Vermont State banking regulators across the six New England states are exploring the creation of a regional compact that would allow financial technology companies to experiment with new and expanded products in “a safe, collaborative environment,” says Cynthia Stuart, deputy […]

Blazing Trails in Unexplored Financial Markets

April 4, 2017
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fintech

Once upon a time people with health insurance who were treated for medical emergencies, illnesses or chronic health conditions –an illness or accident requiring hospitalization, an appendectomy, or a hip replacement, say – could rest easy. Insurance underwriters like United Health, Wellpoint or Humana would surely handle most, if not all, of a patient’s medical […]