Articles by Press Release
Expansion Capital Group Names Herk Christie Chief Operating Officer
June 28, 2019
Sioux Falls, SD — Expansion Capital Group ECG) today announced the appointment of Herk Christie from VP of Operations to Chief Operating Officer. Christie will oversee the company’s underwriting, IT, analytics, and merchant support and services departments. Christie, has been with ECG since March 2016 and has played a critical role in the growth of ECG and its many successes.
ECG, headquartered in Sioux Falls, SD, is a technology-enabled specialty lender that leverages data and analytics to offer customized solutions to small businesses.
Since inception, ECG has connected over 12,000 small businesses nationwide to approximately $350 million in capital. Christie’s appointment comes as ECG continues to see increased growth in its small business lending platform that utilizes technology, data, and analytics to drive user experience and increase access to capital. Christie will lead ECG’s internal operational infrastructure to meet the growing demand for its expanded services.
“ECG continues to put Sioux Falls on the map for financial technology innovation by creating products and solutions that have won the hearts and minds of our customers,” said Christie. “I am incredibly energized to help lead the company to its next phase of innovation and operational excellence as we expand product options to suit the evolving needs of small businesses across America.”
Vincent Ney, CEO of ECG, said, “Herk understands how to create a culture and environment where our hardworking employees have the opportunity to maximize their growth potential within a range of businesses opportunities. Herk’s leadership in our operational strategy has been a key driver in ECG’s growth and success.”
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About Expansion Capital Group
Expansion Capital Group (“ECG”) is headquartered in Sioux Falls, SD with an additional office in Wilmington, DE. ECG is a technology-enabled specialty lender that leverages data and analytics to offer customized solutions to small businesses. Since inception in 2013, ECG has provided approximately $350 million in working capital to small businesses throughout the United States. Continued investment in its lead referral partnerships, technology platform, people, and its proprietary risk-based analytics modeling platform has positioned ECG to increase its origination volume by approximately forty percent since 2018. This investment and growth has led ECG to be recently recognized as the 802nd Fastest Growing Private Company in America and the 2nd Fastest in South Dakota by Inc. 5000, as well as the Best FinTech to Work by SourceMedia.
For business inquiries, please contact newpartners@expansioncapitalgroup.com.
For job inquiries, please contact khillberg@expansioncapitalgroup.com.
More
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Enova Small Business Hires Two Industry Veterans to Lead ISO Partnerships
June 14, 2019CHICAGO (June 14, 2019) — Enova Small Business, a leading provider of loans and financing to growth-minded small businesses in the U.S., announced today that Justin Friedman and Jay Shaw have joined Enova Small Business as senior sales executive and senior manager of partner management, respectively. In their roles, Friedman and Shaw will be responsible for managing ISO relationships for Enova Small Business subsidiaries Headway Capital and The Business Backer, reporting to head of Enova Small Business, Jim Granat.
The hire of Friedman and Shaw comes at a time of rapid growth for Enova Small Business, as Q1 small business originations increased 58 percent year-over-year.
“At Enova Small Business, we are focused on delivering a faster and easier funding process for our customers, and we’re excited to welcome Justin and Jay to help drive our continued growth,” said Granat. “Both Justin and Jay are highly regarded in the small business funding community, and they bring a wealth of knowledge and experience to the team that will benefit our partners and our customers,” said Granat.
Friedman joins Enova from Libertas Funding, where he served as head of strategy. Prior to that, he led partnerships account management at OnDeck. Shaw joins Enova Small Business from funder Quick Bridge Funding, where he served in a variety of roles, including Chief Compliance Officer and, most recently, director of account management and syndication.
Friedman and Shaw will manage ISO relationships for the Eastern U.S. and the Western U.S., respectively.
About Enova Small Business
Enova Small Business includes Enova International’s two small business brands, Headway Capital and The Business Backer.
Headway Capital offers a True Line of Credit up to $100,000 to U.S. small businesses looking for flexible, fast funding. Headway Capital serves small businesses of all sizes and across industries with everyday revolving access, transparent terms and no prepayment penalty. Small businesses can select bi-weekly or monthly payments and can determine the repayment timeline that works best for them, from 12 months to two years.
The Business Backer extends relationship-based funding solutions to small businesses in need of cash flow management and believes that by replacing distrust with trust and by valuing relationships over automation, they are building a better way where small business owners can trust the financing process and easily access the best solutions. The Business Backer is proud to offer its customers competitive rates, fast funding, and a quick and simple approval process. Small business owners walk away with a solid understanding of what’s available to them based on their situation and can quickly determine the best next step in their journey to getting funded.
Velocity Group USA Announces $100 Million Equity Facility
June 13, 2019Melville, NY – June 13, 2019
Velocity Group USA, based in Melville, New York, announces that in addition to its current facilities, it has obtained up to a $100 million equity facility from an international multi-family office.
The new equity facility will allow Velocity Group USA to fund a greater number of merchants and to explore new financing opportunities. Velocity Group
USA uses a proprietary software platform whereby it can provide merchant advance approvals in under an hour. Velocity Group USA has an approval rate of 46%. Founded in 2017, Velocity Group USA is 100% focused on providing financial support for their clients’ businesses. In 2018 Velocity Group USA increased staff by over 400% to over 50 employees, moved to a new class A 11,000 sq. ft. office and since inception has funded over $60 million, to over 1,000 US business owners. The company is experiencing continued exponential growth in 2019.
Velocity Group USA is ready, willing and able to help the small business merchants not only sustain but thrive in today’s uncertain economy.
To learn more, visit www.velocitygroupusa.com or contact
Organization: Velocity Group USA
Address: 290 Broadhollow Rd, Melville, NY, 11747
Email: info@velocitygroupusa.com
Phone: 631-201-0703
Lawyers: Earn CLE Credits While Learning About Alternative Finance
May 23, 2019
| June 13 Sessions | June 14 Sessions |
| Case Law Updates | Regulatory Download: The Complete Picture |
| TCPA: Defining ATDS, Exploring the TCPA and How Emails are Covered | Legislation, Business and Lobbying: How does it work and Does it work at all? |
| Bankruptcy Updates | Future Invoice Factoring and Traditional Factoring: Can’t We All Just Get Along? |
| Securities: A Lesson from Bitcoin and Recent Industry Case Law | Clean Contracts: Merchant Agreements, Inter-Creditor Agreements and ISO Agreements: What you MUST know to keep up with the times |
| Inside the UCC with Bob Zadek | |
| Collections in a Post Bloomberg World | |
| Ethics: Conflicts of Interest | |
| *Evening Social event at Lucky Strike in Manhattan Food, drinks and bowling! 7:00pm – 9:00pm* | *Rooftop Cocktail Reception, Castell Rooftop Lounge 3:00pm – 5:00pm* |
Admission Price List:
Admission for Members: $75
2-Day Ticket Includes:
- Day One: breakfast and lunch during the full day of panels. Evening at Lucky Strike with food and drinks.
- Day Two : Three panel discussions, lunch and cocktail hour immediately to follow.
Non-Member Attorneys $250.00 for the 2 day ticket
Non-Member Attorneys $150.00 for a 1 day ticket
(may only attend one of the two days.)
Corporate Guests (Day Two only) $150.00
Featuring the Following Speakers:
- Christopher Murray, Esq.
- Patrick Siegfried, Esq.
- William Molinski, Esq.
- Natalie Nahabet, Esq.
- David Fuad, Esq.
- Kate Fisher, Esq.
- Jamie Polon, Esq.
- Thomas Telesca, Esq.
- Richard J. Zack, Esq.
- Robert Zadek, Esq.
- Richard Simon, Esq.
- Anthony Giuliano, Esq.
- Mark Dabertin, Esq.
- Gregory Nowak, Esq.
Email Lindsey Rohan: lindsey@lrohanlaw.com
A deBanked Event is Coming to Canada
May 4, 2019Toronto, Ontario – deBanked is coming to Canada. A deBanked CONNECT networking event will be taking place at the Omni King Edward in Toronto on July 25th. The event will cater to the Canadian online small business lending and merchant cash advance industry. Tickets are already available for sale at https://www.debankedcanada.com. Early bird pricing is available until May 30th.
Conference President Sean Murray said of the event, “We have had a lot of success with events for this market in the United States and I believe we can provide value in Canada where the industry has many similarities. Tickets and sponsorships are priced in Canadian dollars.”
Registration on July 25th will begin at 1:30pm and the event continues all day until 8pm. The conference has a special discount room rate at the Omni King Edward that is available until June 24th. Book using group name: deBanked CONNECT Toronto.
About deBanked CONNECT Toronto
deBanked CONNECT events are produced by Foinse, LLC, a Delaware, USA organization. Foinse is registered under Canadian BN: 700629710. Prior events have been hosted in New York City, Miami, and San Diego. To learn more, email events@debanked.com or call 917-722-0808. Register for the event online at https://www.debankedcanada.com.
Kapitus Rolls Out Fully Automated Funding Process
April 2, 2019
New York, NY – Kapitus, a leading provider of alternative financing to small and midsize businesses, announces the roll-out of auto-checkout – a fully automated funding process for qualified deals. The new process allows for not only a faster, more streamlined experience for its partners; but it also provides more flexible financing options, by providing multiple offers at once. At the same time, the new process provides merchants with secure and quick access to funds for their business.
Unlike competing models where only an “option of approval” or “conditional approval” is provided at the time of checkout, Kapitus is able to determine approval eligibility with only an application and bank statements without the need for multiple upfront stipulations to confirm bank information, ownership and identity. Utilizing proprietary machine learning models – eligible deals can be closed without any additional documentation.
“This is a true turning-point for us from a technology perspective and we’re very excited about it,” said Andrew Reiser, Chief Executive Officer at Kapitus. “With this new automated process, we’re able to provide our partners an extremely simple process with an exceptionally quick time-to-funding. At the same time, merchants are provided with a more seamless experience with enhanced security”
Major features in the roll-out include:
- True auto-check functionality with full approval at time of checkout
- Progress tracking and customizable notifications to follow merchants through the checkout process
- Intuitive user interface with precise, easy-to-understand instructions for both merchants and partners
- Simple, seamless secure checkout functionality for merchants
“This is the first of many technology advancements we will be rolling out over the next year,” adds Arun Narayan, Chief Product Officer. “We are committed to creating exceptional experiences for both our partners and merchants. Incorporating the right technology is paramount in building out the right environment and the best experience for all of our audiences.”
ABOUT Kapitus
Founded in 2006 and headquartered in NYC, Kapitus is one of the most reliable and respected names in small business financing. As both a direct lender and a marketplace built with a trusted network of lending partners, Kapitus is able to provide small businesses the financing they need, when and how it is needed. With one application business owners can save time and money, while eliminating the stress that comes with applying to different lenders. At Kapitus, we believe that business owners should be able to focus on running their business, while we take care of the financing. Learn more at https://kapitus.com
CONTACT: Bernadette Abel
Kapitus
babel@kapitus.com
646-722-1484
Greenbox Capital Leads By Example And Eliminates Use of COJs Across Its Platforms
February 19, 2019
Miami, FL – Back in December, Debanked reported that there was a Senate bill introduced to ban COJs. Greenbox Capital has for the past 6 years been a leader and innovator in the industry in many ways. Most recently, they’ve suspended the use of COJs indefinitely.
Greenbox Capital is committed to long term success which includes taking a stand for the largely unregulated MCA industry by leading by example that shows that the industry can police itself. “Critical pieces in the long-term success of an enterprise is operating above board, employing best practices, and leading by example for others. It’s the greatest way to authentically build a great reputation with your clients and partners. It’s very important during this time even more, as the world is now watching our industry closer and we should show them that there are good actors in the space that operate with integrity,” says CEO Jordan Fein.
About Greenbox Capital
For any questions, Greenbox Capital’s Broker Support team can be reached at 305.952.3200 Option 2.
Alternative Finance Bar Association Webinar to Be Held on Feb 7th
January 30, 2019
