Articles by Press Release
Lendini is Back
September 2, 2020
Bensalem, PA –September 3, 2020– Lendini is excited to announce its return to small business funding. Through superior efficiency and analysis, the company has improved the process of alternative funding from some of the brightest minds in finance, technology and analytics. With updated (temporary COVID-19) guidelines, they remain dedicated and committed to their merchants and ISOs in these unprecedented times.
Lendini works directly with you to prepare the best package for your client, whether that be a Business Cash Advance (BCA) or Merchant Cash Advance (MCA). Simply put, Lendini advances money based on the average monthly gross sales of a business or average monthly credit card sales. Money can be advanced quickly because securing assets and collateral is not required.
Get clients funded in 4 easy steps; application submission, information review, approval or denial, final review and your client is funded. Minimal documentation is required. The company must have 18 months in business with $7,500 per month in gross sales and an average daily balance of $750. We require a minimum of 5 deposits, monthly into the business bank account.
Funding Stipulations:
- Bank login
- Funding call with merchant
Required Documents:
- Application
- All 2020 business bank statements + MTD
- Signed and dated agreement
- Proof of business existence
- Meets state registration requirements
- Proof of ownership
- Merchant interview
- Driver’s license
- Voided check (starter checks will not be accepted)
Industries accepted:
- Restaurants (with takeout)
- Pharmacies
- Healthcare
- Manufacturing
- Transportation (freight)
- Healthcare (primary care)
- Automotive repair
- Grocery stores
With $540 million dollars funded to 15,000 small businesses, Lendini offers incomparable solutions customized specifically for your client. The company prides itself in being able to offer up to $300,000 in as little as 1 business day (in most cases). Funding can be used for any business purpose you may have.
Lendini is not a bank and does not provide loans, they offer cash advances. With Lendini, business owners receive the capital they need without lengthy delays or excessive paperwork. In general, Lendini offers pre-approvals in under three hours and next day funding of approved advances. The staff provides unparalleled customer service and treats each business owner with the respect they deserve.
Maxim Commercial Capital Funds Deals in 30 States During 2Q 2020
July 16, 2020Maxim Commercial Capital is pleased to report it funded hard asset-secured financings for small and mid-sized businesses (SMBs) in 30 states across the United States during the second quarter of 2020. After pivoting quickly in March to safer-at-home working conditions for its 30+ team members, Maxim experienced a steady increase in applications from equipment brokers and vendors for their borrowers with challenged credit. Maxim lends $10,000 to $3,000,000 to SMBs nationwide secured by heavy equipment and real estate to facilitate asset purchases, working capital and to refinance expensive short term debt.
“Maxim was founded during the Great Recession of 2008,” noted Behzad Kianmahd, Chairman and CEO. “We are applying our experiences gained during that time to overcome today’s extraordinary economic challenges and long term uncertainty caused by the COVID-19 pandemic. We have reaffirmed our commitment to finance SMBs, which are the backbone of our economy, refreshed our underwriting standards, and are continually improving our infrastructure by investing in technology and communication tools for the benefit of our customers, vendors, brokers and team members.”
During the second quarter, Maxim received numerous applications from business owners with strong credit but negative cash flow due to the economic downturn. Funded transactions for such borrowers included $95,000 secured by a 2019 Mack GR64F Tri-Axle Dump Truck for a growing landscaping company in New Jersey; $42,500 for a seasoned contractor’s purchase of a 2014 Caterpillar 312E Hydraulic Excavator; and, $29,000 to enable a business started up by seasoned contractors to purchase a 2020 Reinert ZR Concrete Pump.
Buyers of used class 8 trucks faced numerous challenges during the second quarter, ranging from lenders shutting down without warning to closed DMVs. Maxim successfully funded deals across the country, including $26,500 for a California-based long-haul truck owner-operator to purchase a 2017 Volvo 780; $20,800 for an Ohio-based transportation company to purchase a 2017 Freightliner Cascadia; and, $23,000 for a Texas-based owner-operator to purchase a 2016 Freightliner Cascadia to replace a truck with mechanical issues.
“We are humbled and encouraged by our team’s commitment to positively impact our customers’ future success, and by our customers’ continuous effort to make tough but rational decisions to stay in business during these difficult times,” commented Michael Kianmahd, Executive Vice President. “Based on our experience over the past few months, we are confident that SMBs across the nation will contribute substantially to the nation’s recovery from the biggest economic shock since The Great Depression.”
About Maxim Commercial Capital
Maxim Commercial Capital helps small and mid-sized business owners seize opportunity by providing financing in amounts up to $3,000,000 secured by heavy equipment and real estate. Maxim facilitates equipment purchases, provides working capital and refinances debt for companies across all industries located nationwide. Through Maxim’s tailored financing programs, businesses unlock capital tied up in underleveraged assets, often replacing expensive short-term debt and daily repayment working capital loans with longer term capital. As a leading provider of transportation equipment finance, Maxim funds up to 75% of the acquisition cost of class 8 and class 6 trucks, trailers and reefers for owner-operators and small businesses. Learn more at www.maximcc.com or by calling 877.776.2946.
Breakout Capital Closes $20MM in Credit Facilities with Medalist Partners
July 8, 2020MCLEAN, VA / July 8, 2020 / Leading nationwide small business lender Breakout Capital announced today the completion of two senior secured credit facilities, totaling $20MM, with Medalist Partners, expanding and extending a current term loan facility and establishing a new term loan facility with attractive forward flow features with its long-time lending partner. This expansion of its successful ongoing partnership with Medalist further validates Breakout Capital’s vision and growth through product differentiation, innovative responses to small business needs and disciplined, long-term strategy. These facilities will allow Breakout to increase loan originations across all of its product offerings, including its highly regarded term-loan product, FactorAdvantage®, and its newest, well-received factor product, FactorBridge.
“I am pleased to continue our successful relationship with Medalist Partners. Medalist is a disciplined and engaged credit facility provider who shares our vision and believes in the strong value we bring to small businesses across the country,” said McLean Wilson, Breakout Capital’s CEO and Chief Credit Officer. “The expansion of this strategic relationship will accelerate the growth of our “white-hat” brand and the continued introduction of innovative new lending solutions to the market.”
John Slonieski, Director of Private Credit for Medalist Partners, added, “We are pleased to enhance our relationship with Breakout Capital in our asset-based lending strategy. Their high-quality underwriting and SMB-friendly lending solutions, coupled with their talented credit and management team, provide us confidence as we continue working closely with them to successfully scale their lending program.”
Given the deployment of these Medalist facilities and increased market demand from the rollout of FactorBridge and expansion of FactorAdvantage®, Breakout Capital has in parallel raised its loan size up to $1,000,000. It has done so while continuing to offer loan terms of up to 24 months, offering flexibility through FactorBridge to provide shorter-term solutions that bridge to these longer-term Breakout Capital loans.
“The increase in our maximum term loans provides much-needed additional liquidity to small businesses, enabling them to implement critical strategies and capitalize on time-sensitive opportunities during these unprecedented times,” Wilson stated. “It also facilitates powerful dual factoring-loan solutions where we provide critical working capital loans to SMBs in tandem with accounts-receivable based factoring platforms offered by our valued factor partners.”
About Breakout Capital
Breakout Capital, headquartered in McLean, Virginia, is a leading fintech company, offering innovative small business lending solutions across the country. Breakout Capital is committed to transparent and responsible lending solutions through product innovation, small business borrowing education, and advocacy against predatory lending practices and continues to empower small business through right-sized lending, suitability testing, improving terms and supporting the long-term financing objectives of small businesses.
About Medalist Partners
Medalist Partners is an SEC registered investment manager with approximately $2.4 billion in assets under management as of June 30, 2020. The New York based firm manages strategies in asset-based private credit, structured credit, and collateralized loan obligations. The business is led by partners Greg Richter, Brian Herr and Michael Ardisson, who were formerly part of Candlewood Investment Group and prior to that Credit Suisse.
The Commercial Finance Coalition Applauds Actions by the Federal Trade Commission and New York State to Thwart Bad Actors in Business Lending
June 11, 2020
The Federal Trade Commission (FTC) and the office of New York State Attorney General Letitia James have filed formal actions against two small business financing companies for allegedly using egregious and deceptive tactics to seize assets from small businesses, non-profits, religious organizations, and medical offices.
“The Commercial Finance Coalition whole-heartedly applauds the efforts of the FTC and Attorney General James. As a coalition of responsible financial services companies committed to funding small businesses, the CFC believes there should be zero tolerance for bad actors and deceptive practices in our industry,” said Executive Director Dan Gans.
Gans added, “Hopefully this will serve as a warning to all companies in the business finance space to serve merchants through best practices centered on respect and integrity in compliance with state and federal law.”
The CFC is a not-for-profit alliance of innovative financial technology companies that are working together to deploy capital to help small and mid sized businesses grow.
Press Release
Contact
Dan Gans
626-755-6545
Release Date
June 11, 2020
CFG Merchant Solutions Enhances Partnership with Arena Investors and its Affiliates to Serve SMEs
May 29, 2020NEW YORK, New York., May 29, 2020 — CFG Merchant Solutions (“CFGMS”), a leading financier of small and medium-sized enterprises (“SMEs”), announced today that the company is building upon its partnership with Arena Investors, LP (“Arena”), in conjunction with Ceteris Portfolio Services (“Ceteris), an Arena servicing affiliate, in servicing and providing liquidity to Platinum Rapid Funding’s (“PRF”) merchant portfolio. CFGMS has been a leading capital provider to SMEs and an originator of advances to growing merchants, providing in excess of $400 million merchant cash advances since 2015. Arena has been CFGMS’s primary capital partner since 2016.
CFGMS and Arena are determined to prioritize the needs of PRF’s existing customers in the wake of the COVID-19 crises and its resulting impact on small businesses across the country.
“Arena is pleased to continue its partnership with CFGMS and its senior management team consisting of CEO, Andrew Coon, Chief Legal Officer and General Counsel, Robert Martini, and President, William Gallagher. Together, we remain deeply committed to serving the needs of PRF’s existing customers, particularly for ongoing financing and liquidity needs in an environment when even much larger businesses struggle to attract capital,” said Victor Dupont, who leads Arena’s investments in the financing of the SME sector. “We welcome further involvement with PRF’s customers and their affiliated ISOs and are committed to working collaboratively with all throughout the COVID-19 crises and beyond”.
“Arena and its affiliates have built a reputation as a group that combines uniquely flexible capital with broad-based expertise in servicing, resolutions, and SME finance,” said Coon. “So, while we excel at sourcing, originations, and underwriting, we felt that they brought a critical level of IP and know-how that is uniquely suited to benefit all parties in today’s environment. Combining forces to offer a broader set of servicing solutions to the MCA market segment made complete sense.”
Jonathan Pike, CEO of Ceteris, added: “Ceteris is excited to work with CFGMS and Arena by offering best-in-class servicing strategies and assisting merchants in a difficult economic environment.”
The Small Business Association (“SBA”) estimates that traditional banks still reject approximately 90 percent of SME loan applications. Since 2015, CFGMS has emerged as a proven platform that leverages sales partner relationships, analytics, and proprietary underwriting to provide SMEs with a straightforward and streamlined access to critical funding. The company addresses the fundamental capital needs of SME owners across a broad credit spectrum and through every stage of a business’s life cycle.
SMEs across a wide variety of industries that include restaurants, retail stores, salons, spas, dry cleaners, auto body shops, and professional offices. All of these businesses, and more, rely on CFGMS to secure the necessary capital they need to grow.
For questions or funding solutions, please contact:
– William Gallagher
– (646) 880-3817
– WGallagher@CFGMS.com
– Ryan Banda
– (856) 545-8322
– rbanda@ceterisassetsolutions.com
About CFGMS
Headquartered in New York, NY, CFGMS specializes in providing financing to support the growth and development of underserved small-to-medium sized businesses that lack access to traditional bank funding. Founded in 2010, CFGMS’s affiliated company, CapFlow Funding Group, provides factoring, purchase order finance, and asset-based lending solutions. CFGMS and CapFlow have together provided over $1 billion in liquidity solutions to their SME clients. For more information please visit www.cfgmerchantsolutions.com
About Arena Investors, LP
Arena Investors is a privately held, SEC-registered, global alternative investment firm which combines mandate flexibility, proprietary sourcing and systems-plus-servicing to enable solutions for those seeking capital. The firm was founded in 2015 and is headquartered in NewYork with additional offices in Jacksonville, London, and San Francisco. For more information, please visit www.arenaco.com.
About Ceteris Portfolio Services
Ceteris is a nationally licensed servicing company providing debt recovery solutions and other related services for consumers and commercial businesses across a broad range of financial assets. Ceteris provides first- and third-party revenue cycle management, business process outsourcing and portfolio backup servicing to heavily regulated, high volume industries including banking, automotive finance, credit card, equipment leasing, medical, telecommunications, utilities, retail and other industries. For more information please visit www.ceterisholdco.com.
DataMerch.com to Release Updated Version 2.0 of Online Database
March 10, 2020Tampa, March 10th, 2020 /DeBanked/ — DataMerch.com, an online underwriting database for the alternative financing industry, announced they will be releasing version 2.0 in March 2020. DataMerch has designed a refreshed look of the site with improved the functionality. DataMerch took these steps to position themselves for better scalability as their database record count continues to grow past 40,000.
“We’re launching the new version of DataMerch to improve the scalability and features for our funder members,” said Co-Founder Scott Williams. “The new version will allow us to add new features and make changes quicker than before.” When asked what will be different about version 2.0, Mr. Williams responded, “We have a new updated look that I think our members will appreciate. We’ve automated the recent suspicious activity alerts that will now be viewable from the dashboard. We’ve also added an analytics tab that allows our members to see their number of searches, hits, entries, and more. This will allow our members to see in real time the business benefits of DataMerch and their contributions.”
DataMerch leadership say they will continue to invest in developing the functionality of DataMerch and add features that are relevant to their members. They plan to add billing and invoice functions, bulk automated uploads, and updated API version in 2020.
About DataMerch
DataMerch LLC was founded in 2015 to help funders in the alternative financing industry make informed underwriting decisions. DataMerch members can screen their applications using DataMerch’s specifically designed FEIN search and enter unsatisfactory businesses into the database. DataMerch currently has over 100 industry-leading subscribed members working together as a community. DataMerch can be accessed at https://www.datamerch.com and contacted for membership at support@datamerch.com
Kabbage Launches Kabbage Insights™, Allowing Small Businesses To Take Control of Their Cash Flow With Just a Few Clicks
March 4, 2020ATLANTA – March 4, 2020 – Kabbage, Inc. today launched Kabbage Insights, a fully automated tool that calculates and predicts cash-flow patterns to help small businesses identify cash surpluses and deficits. With the launch, Kabbage addresses one of the most vexing problems faced by small business owners. The new product comes just one month after the public launch of Kabbage Payments™, continuing the company’s rapid innovation to build a suite of integrated products that simplify cash-flow management for U.S. small businesses.
In less than 10 minutes, any small business can connect their real-time financial data to Kabbage Insights and access an analysis of their company’s historical, current and future cash-flow 24/7. The product continually evaluates the transaction activity of a customer over a 90-day period and organizes it in an easy-to-understand dashboard, allowing customers to quickly visualize their net growth without taking the time to calculate it themselves. Kabbage’s customer base of over 220,000 small businesses has immediate access.
As a leader in predictive analytics and artificial intelligence for small businesses, Kabbage Insights produces personalized forecasts to predict the future cash position of a business. Customers can then set a desired low-balance threshold and receive automated alerts if accounts are predicted to dip below it, empowering small businesses to identify, act upon and prevent cash deficits before they occur.
Paired with the Kabbage Small Business Revenue Index, Kabbage Insights is also the first product available that allows small businesses to compare their company’s performance to similarly-sized businesses operating in their state and industry. The result is an unparalleled cash-flow tool that’s free for small businesses, helping them to anticipate changes, benchmark their growth, plan ahead and make more confident business decisions like when to cut expenses, invest or borrow.
With Kabbage Insights, small businesses can:
- Review cash-flow on the go via the intuitive mobile dashboard.
- Analyze daily performance and review money movement at a glance.
- Borrow strategically with forecast data to inform funding decisions.
- Save time, as studies show 91 percent of small business owners spend as many as 20 hours per week manually calculating cash flow.
“As a small business owner for many years, I spent many sleepless nights trying to figure out whether I’d have the cash to pay my various expenses, including payroll at the end of the month and it’s been a mission of mine to solve this ubiquitous problem for all small business owners ever since,” said Kabbage CEO Rob Frohwein. “Kabbage is pleased to launch Insights, taking on this burden for small business owners and providing them with cash flow analyses that large enterprises have at their fingertips. We will continue to level the playing field for the small business owner.”
About Kabbage
Kabbage, Inc., headquartered in Atlanta, is a data and technology company providing
small businesses cash flow solutions. Its suite of products includes Kabbage Payments, helping small businesses get paid and access the money they earn faster, Kabbage Funding, providing access to flexible lines of credit in minutes, and Kabbage Insights, a powerful and predictive tool to calculate cash flow. To date, Kabbage has provided more than 220,000 U.S. small businesses access to over $9 billion of working capital. Kabbage is funded and backed by leading investors, including the SoftBank Vision Fund, BlueRun Ventures, WildCast Venture Partners, Thomvest Ventures and others. All Kabbage U.S.-based loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Kabbage Payments, LLC, a subsidiary of Kabbage, Inc., is a registered Payment Service Provider/Payment Facilitator sponsored by Fifth ThirdBank, N.A., Cincinnati, OH. For more information, please visit www.kabbage.com.
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Funding Metrics Announces New $100 Million Revolving Credit Facility
March 4, 2020
Bensalem, PA, March 4, 2020 – Funding Metrics, LLC (the “Company”) announced today the closing of a new $100 million revolving credit facility with a multi-billion dollar institutional credit fund. The Company will use the funds to expand and accelerate the growth of its small business funding platform. Brean Capital served as exclusive financial advisor to the Company on the transaction.
“We are very pleased to announce this new $100 million facility, which will allow us to significantly expand our ability to provide funding to the growing small business community across the United States,” said Co-Founder, Chairman and Chief Executive Officer, David Frascella. “This new facility represents an exciting milestone in our continued growth. Funding Metrics has tripled its origination volume since 2017, totaling over $500 million since company inception. I am very proud of the robust funding platform our team has created, the strong relationships we have developed with our independent sales organization partners, and especially the trust placed in us by our merchants. Funding Metrics has created a best of breed technology based platform allowing most funding offers to be sent in under three hours.”
Additional capital provided by the facility will allow Funding Metrics to capitalize on growth opportunities in 2020 and beyond as well as on the extensive infrastructure of people and technology it has built over the last few years. Mr. Frascella added, “We look forward to additional submissions from the ISO network and funding the next wave of small business leaders nationwide.”
About Funding Metrics
Funding Metrics is a leading data and analytics driven online provider of funding for small businesses throughout the United States. The Company uses proprietary risk models combined with real-time cash flow data to evaluate business performance and provides growth capital for entrepreneurs in a fast and efficient way through its two online brands, Lendini and QuickFix Capital. Since 2014, the Funding Metrics has provided over $500 million in funding to more than 9,500 small businesses in all 50 states. The Company is headquartered in Bensalem, PA, with additional offices in Jersey City, NJ and San Jose, Costa Rica.
For more information, please visit: www.fundingmetrics.com
For more information / questions / interview requests / media inquiries, please contact:
David Frascella
Email: info@fundingmetrics.com | Phone: 855-212-6610
