Articles by Sean Murray
Quarterspot is Shifting Its Business Focus
January 22, 2020Last week, several industry insiders reported receiving an email from NY-based company Quarterspot that said their agreement had been terminated. The contents stated that the company is “shifting its business focus and will no longer be originating loans, but will continue to service currently outstanding loans.” deBanked has confirmed that to be true. More information […] |
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Broker Fair 2020 Announces Two Special Keynote Speakers
January 17, 2020Two special guests will speak at Broker Fair 2020 on May 18th in New York City. Scott Rasmussen and John Henry will complement a roster of leading professionals from the commercial finance industry. Broker Fair 2020 will be deBanked’s largest ever event. TICKETS ARE ON SALE NOW AND EARLY BIRD PRICING IS STILL AVAILABLE! |
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deBanked CONNECT MIAMI Kicks Off Today
January 16, 2020deBanked’s annual South Florida event, deBanked CONNECT MIAMI, begins today at 1:30pm at The Loews Hotel in Miami Beach. Check-in will take place at the Rotunda on the 2nd level. This event is SOLD OUT. More than 500 people are registered to attend this year. Got an event question? Email: events@debanked.com Got a general deBanked […] |
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Dodd-Frank’s Small Business Lending Data Collection Rule Could Still Take Years to Implement
January 12, 2020Small business lenders: Are you ready to regularly submit loan application data to the Consumer Financial Protection Bureau? No? Good, because almost ten years after Dodd-Frank passed, the provision that requires the CFPB to collect small business lending data still hasn’t been implemented. And apparently we’re still years away. Section 1071, as it’s known, modified […] |
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Jonathan Braun Has Checked In To Prison
January 2, 2020
Jon Braun, who Bloomberg Businessweek profiled in a 2018 story series, checked into FCI Otisville on Thursday. He was sentenced to 10 years in prison on May 28th for drug related offenses he committed a decade ago. He was originally scheduled to surrender on August 25th but he successfully delayed the date until today, January […]
The End Of An Era – deBanked Through The Decade
December 30, 2019
deBanked estimated that approximately $524 million worth of merchant cash advances had been funded in 2010. In 2019, merchant cash advances and daily payment small business loan products exceed more than $20 billion a year in originations. THE LARGEST SMALL BUSINESS FUNDERS OF 2008 AdvanceMe First Funds Merchant Cash and Capital Business Financial Services AmeriMerchant […]
How GRID Finance’s Cash Advances Are Building Stronger Irish Communities
December 27, 2019
Above: The Design Tower on Grand Canal Quay in Dublin, home of GRID Finance’s headquarters Five years ago, a small company in Dublin put Ireland’s fintech scene on the map by advising local SMEs to “get on the GRID.” GRID Finance, founded by Derek F Butler, introduced a peer-to-peer lending model to Irish businesses at […]
deBanked Throwback Thursday
December 26, 2019
As we count down the end of the decade, I thought you might want to take a glimpse of how the decade started here at deBanked. Below is a snapshot of the main merchant cash info page that was on our site in December 2010! CLICK HERE FOR A CLEARER IMAGE When 2010 ended, I […]
deBanked’s Top Ten Things of 2019
December 20, 2019
In this video, I break down deBanked’s Top Ten Things of 2019. Happy holidays and have a Happy New Year from all of us at deBanked! Re-read the top ten stories of 2018 HERE.
LendingClub Retail Investors Still Frozen Out In Several States After Sudden Restriction
December 5, 2019
On September 23, retail investors on the Lending Club platform in 5 states received strange news, they had been temporarily restricted from buying notes because of the state they lived in. No further information was provided. 74 days later, investors in New York, Florida, Texas, Arizona, and North Dakota (the affected states) are still frozen […]
StreetShares Discontinues Major Segment of Its Financing Business
December 3, 2019
StreetShares quietly discontinued a major part of its financing business on November 15, a new disclosure filed with the SEC revealed. “For new customers, the Company is no longer offering to factor invoice receivables,” the letter signed by General Counsel and Chief Compliance Officer Lauren Friend McKelvey says. The company had purchased more than $112 […]
Flender Makes BIG Mark in Ireland’s SME Lending Market
November 26, 2019
Ireland can seem like a small place, so much so that on my way to meeting with Colin Canny, Flender’s Head of Partnerships, I quite literally bumped into Flender’s co-founder & CEO Kristjan Koik who was walking through Dublin’s Silicon Docks. I recognized Koik from the who’s who catalogue of executives I had compiled before […]
Bloomberg is Officially Running for President
November 25, 2019
Former NYC Mayor Michael Bloomberg is officially running for President. He announced it over the weekend. His campaign’s website paints him as a self-made entrepreneur who at 39-years old founded a company in a one-room office with the idea of turning a computer that connects users to a vast network of information and data. Today, […]
Canadian Lenders Summit Recap
November 23, 2019
The Canadian Lenders Association’s largest annual event brought together hundreds of executives from the fintech and lending industries. It was hosted at MaRS, a dedicated launchpad for startups in Downtown Toronto that occupies more than 1.5 million square feet and is home to more than 120 tenants, many of which are global tech companies. After […]
OCC Believes It’s Time To Fix Madden Issue Once And For All
November 18, 2019
If a bank makes a legal loan to a consumer and then later sells the debt to a third party, the terms of the loan are still legal right? “Yes” should be the obvious answer, but in 2015 a federal appeals court said “no.” The case was Madden v. Midland Funding LLC, which started as […]
“Predatory Lenders” Slammed as Bill to Ban Confessions of Judgment Nationwide Advances
November 14, 2019
Above: Rep Nydia Velázquez and Michael Bloomberg | Brooklyn, 2011(Bloomberg is majority owner of Bloomberg News parent Bloomberg LP) Rep. Nydia Velázquez (D) celebrated the advancement of a bill on Thursday that aims to outlaw confessions of judgment (COJs) in commercial finance transactions nationwide. HR 3490, dubbed the Small Business Lending Fairness Act, made its […]
Brian Holloway, America’s #1 Most Requested Motivational Team Builder, to Speak at deBanked CONNECT Miami
November 13, 2019
Salespeople, are you ready for… Total Market Domination?!?! Stanford All-American, 5 time NFL All-Pro, and All-Star front line competitor Brian Holloway will be speaking at deBanked CONNECT Miami on January 16th, two weeks before the Super Bowl takes place just down the road. deBanked CONNECT is taking place at the Loews in South Beach. Last […]
Costs, Losses Soar At StreetShares
November 12, 2019
StreetShares increased revenue by nearly 40% year-over-year, according to the company’s latest fiscal year 2019 filing, but costs soared and increased by almost 90%. StreetShares reported a staggering $12.3M loss on only $4.4M in revenue. That loss was much wider than the previous year’s loss of $6.5M on $3.2M in revenue. Whereas startups may spend […]
Who Exactly Got Paid In Knight Capital’s Sale… And How Much? ($27.8M)
November 6, 2019
Update 11/7/19 9:05 AM: Ready Capital Corporation confirmed this morning that Knight Capital’s total sale price was $27.8M. $10M was in stock. When Ready Capital Corporation acquired Knight Capital last week for $10 million in stock and an undisclosed amount of cash, questions abounded over who directly benefitted from the sale and how much cash […]
GoDaddy Now Offers Kabbage Business Lines of Credit To Its Customers
November 4, 2019
A curious thing popped up in my Godaddy account dashboard on Monday. Underneath the section to manage my domains, a “Deals from GoDaddy Partners” box offered me $300 in Free Yelp Ads on one side and a business line of credit from Kabbage up to $250,000 on the other. The Kabbage offer is brand new, […]
