Sean Murray

Articles by Sean Murray

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The Broker: Funding Businesses The Irish Way

October 10, 2019
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I’m sitting in the lobby of The Marker Hotel, a 5-star 7-story property on the edge of Dublin’s Grand Canal Dock. Here in Ireland’s major tech hub, I’m waiting for a self-identified corporate finance broker by the name of Rupert Hogan, the managing director of BusinessLoans.ie. Outside of our email exchanges, I don’t really know […]

Did You Own Bitcoin Before The 2018 Crash? This Bitter Group of Crypto Plaintiffs Think You May Be Entitled to $1.4 Trillion in Damages

October 8, 2019
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A group of plaintiffs whose Bitcoins suffered the great crypto crash of 2018, have a rough idea of how much damage was caused ($1.4 trillion) and who exactly was damaged, everyone. The alleged culprit is Tether, a little understood company that’s supposed to issue fully-backed digital US dollars to make trading in the crypto marketplace […]

What Happened to Borro?

October 6, 2019
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In 2013, Borro, an innovative online lending company that was poised to disrupt pawn shop lending forever, invited me to their stylish offices at 767 Third Avenue in Manhattan. It wasn’t for a story per se, but rather to learn more about each other’s place in the world of online lending. deBanked was still called […]

How Linked Finance is Linking Irish SMEs With Quick Loans

October 1, 2019
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Google Maps was convinced that I was already at my destination, but that didn’t make sense because I was still sitting in my cramped Airbnb rental apartment in Dublin and hadn’t left to go anywhere yet. “Oh man please tell me Google works in Ireland,” I said to myself while glancing at the time and […]

NYC Taxi Industry Leads Charge to Ban Confessions of Judgment Nationwide

September 30, 2019
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NYC Taxi

New York State may have outlawed entering confessions of judgments (COJs) against out-of-state debtors in their courts, but federal legislators want to see a ban on their use nationwide. On Thursday, the House Financial Services Committee convened for a hearing on predatory debt collection. Notably adding small businesses to the mix with consumers, COJs repeatedly […]

No Fees, Ever – Is Goldman Sachs Winning Or Losing The Online Lending Battle?

September 30, 2019
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Goldman Sachs

Peer-to-Peer lending in the United States died the day Goldman Sachs launched a rival online lending company in 2016. Armed with a low cost of capital and the trust of a household name, Marcus, as Goldman Sachs referred to themselves, sought to further disrupt consumer lending by eliminating every type of fee including late fees. […]

Could Peer-to-Peer Lending Be Resurrected By Falling Interest Rates? At Least For Now?

September 19, 2019
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Peer to Peer

Up Next On The New York Legislative Agenda: Funder, Lender, and Broker Licensing

September 10, 2019
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Fall Albany

New York State Senator James Sanders Jr. has introduced S6688, a commercial financing licensing bill that would require persons or entities engaging in the business of making or soliciting commercial financing products in New York state to obtain a license from the New York Department of Financial Services. The bill covers small business lenders, merchant […]

Stripe Ventures Into Merchant Cash Advance Financing

September 6, 2019
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stripe conference room

Stripe, a payments firm lauded as the world’s most valuable private fintech company (at $22.5B), has officially launched a merchant cash advance product. Dozens of news outlets have announced that the company is providing loans, but that’s not all, deBanked has learned. Both loans and merchant cash advances are available. The company’s FAQ page originally […]

A Side-By-Side Look At Small Business Funding Securitization Pools

September 6, 2019
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securitization chart

Several small business funding companies have closed majored securitization deals since 2018 with Kroll Bond Rating Agency rating the transactions. For the most recent transaction with National Funding, Kroll compared each securitized pool side-by-side in a chart. An abbreviated version of it is below: NFAS 2019-1 (National Funding) RFS 2018-1 (Rapid Finance) CRDBL 2018-1 (Credibly) […]

New York’s COJ Restrictions Have Been Signed Into Law

August 30, 2019
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cojs

Governor Cuomo has signed S6395, the law that outlaws entering a Confession of Judgment in New York against a non-New York debtor. Rich Azzopardi, a senior advisor to the governor, said on social media that the law has “closed a loophole that allowed unscrupulous creditors to use NY courts to penalize out-of-state consumers with no […]

New York’s COJ Bill Has Been Delivered To The Governor

August 28, 2019
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New York’s infamous Confession of Judgment bill has finally been delivered to the governor for his signature. Although the legislative process offers flexibility to depart from the statutory timelines (as we have witnessed), the governor now presumably has 10 days or less to sign it. Stay tuned. The Confession of Judgment ban is very specific, […]

The 2019 Top Small Business Funders By Revenue

August 14, 2019
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2018 revenue rankings

The below chart ranks several companies in the non-bank small business financing space by revenue over the last 5 years. The data is primarily drawn from reports submitted to the Inc. 5000 list, public earnings statements, or published media reports. It is not comprehensive. Companies for which no data is publicly available are excluded. Want […]

Chase Ends Partnership With OnDeck, OnDeck Stock Tanks On Bucket of Mixed News

July 29, 2019
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OnDeck NYSE

The market didn’t take too kindly to OnDeck’s Q2 earnings announcement on Monday. The stock price set a new all time intraday low of $3.01, down 24% from Friday’s close. First, JPM Chase ended their partnership with OnDeck, the company said, bringing a 3-year relationship to a close. “We can’t speak for Chase and their […]

deBanked CONNECT Toronto Photos

July 27, 2019
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deBanked CONNECT Toronto on Stage

REGISTER NOW FOR THE NEXT DEBANKED EVENT IN A CITY NEAR YOU

Early Bird Ticket Pricing To deBanked CONNECT San Diego Ends Soon!

July 26, 2019
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deBanked CONNECT Toronto was a hit and photos and coverage of the event will be available soon. But in the meantime there’s only SIX DAYS LEFT of early bird pricing to deBanked CONNECT San Diego! This event is taking place at the Hard Rock Hotel in October 24th. Brokers get in with a discounted price. […]

deBanked CONNECT Toronto Kicks Off Today

July 25, 2019
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Omni King Edward Hotel Toronto

Welcome to The Omni King Edward Hotel Don’t be late!  Registration and networking starts at 1:30pm at The Omni King Edward Hotel in Toronto.    Schedule of events: 1:30 pm – 3:00pm Registration + Networking + Meet Our Sponsors – Prefunction, 17th Floor 3:00 pm – 6:00 pm General Sessions – Crystal Ballroom, 17th Floor 6:00 pm – […]

Breakout Capital is BACK

July 17, 2019
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Breakout Capita

Above: Breakout Capital Finance founder Carl Fairbank shakes hands with SecurCapital CEO Steve Russell SecurCapital Corp has acquired the lending business of Breakout Capital Finance. Breakout was founded in 2015 by Carl Fairbank, a former investment banker, and quickly made a splash in the burgeoning small business lending industry. The company has raised significant capital […]

Confession of Judgment Bill Still Awaits Governor’s Signature

July 9, 2019
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cuomo speech

New York State Governor Andrew Cuomo will have only ten days to sign S6395, the bill that prohibits companies from entering Confessions of Judgment in New York against non-New York State debtors, once its delivered to him. Only two possible contingencies could prevent that from happening: (1) An official veto (2) a pocket veto Neither […]

Federal Lawmakers Not Convinced NY Confession of Judgment Ban is Enough

June 25, 2019
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US Capitol

The recent New York State law that effectively ended the era of Confessions of Judgment in the small business finance industry is apparently not enough to satiate the outrage of some federal lawmakers. This morning, Rep. Nydia M. Velázquez (D-NY) and Rep. Roger Marshall (R-KS) introduced the “Small Business Lending Fairness Act” that would outlaw […]