Articles by Todd Stone

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OnDeck Shows A Path Forward

February 15, 2018
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Howard Katzenberg, CFO, OnDeck

Howard Katzenberg, CFO OnDeck announced this week very positive fourth quarter and full year 2017 financial results, including a fourth quarter GAAP net income of $5 million and an expectation for continued margin and profit growth in 2018. “We worked hard in 2017, not just to achieve profitability, but to strengthen the key fundamentals of […]

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SmartBiz Becomes the Number One Provider of SBA Loans Under $350,000

February 14, 2018
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SBA Loans

Evan Singer, CEO SmartBiz Loans announced today that it was the number one facilitator of SBA 7(a) loans under $350,000 for the 2017 calendar year, surpassing JP Morgan Chase. “I think the biggest factor [in hitting this milestone] is that we have been laser focused on meeting the needs of small business customers in the […]

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Breakout Capital Hires New Chief Marketing Officer

February 14, 2018
Article by:

james mendelsohn

Small business lender Breakout Capital announced that it has hired James Mendelsohn to be its Chief Marketing Officer. Mendelsohn spent three years working as Chief Marketing Officer at CAN Capital. “It’s an exciting time to be in the alternative lending space,” Mendelsohn said. “One of the biggest messages that the industry as a whole has […]

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Yalber Obtains $20 Million Credit Facility

February 13, 2018
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Yalber

Amir Landsman, CEO Small business financing company Yalber has announced the closing of a $20 million credit facility from an institutional credit fund focused on specialty finance and related investments. Yalber CEO Amir Landsman told deBanked that the money was raised primarily in response to increased demand for capital. The company will use the new […]

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Fiserv Sells Part of Its Lending Arm for $395 Million

February 9, 2018
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Fiserv Office

fiserv offices in Hillsboro, Oregon | Photo by: M.O. Stevens Warburg Pincus LLC, a New York-based global private equity firm, announced this week that it has entered into an agreement to purchase 55 percent of its Lending Solutions business of Fiserv for approximately $395 million. Fiserv, founded in 1984, is a publicly traded global provider […]

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Behalf Secures $150 Million in Debt Capital

February 8, 2018
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Behalf Website

Behalf, the New York City-based alternative business loan company, obtained $150 million in debt financing this week from a private investment fund managed by Soros Fund Management LLC. Viola Credit also participated in the debt financing.      “This is a significant step forward for Behalf. This funding allows us to expand our fast-growing e-commerce B2B […]

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Responding to Demand, BlueVine Increases Factoring and Business Credit Lines

February 6, 2018
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growth

Invoice factoring and small business loan company, BlueVine, recently doubled its credit line size for its invoice factoring product up to $5 million. Simultaneously, it has also increased its business line of credit maximum to $200,000, from $150,000. “The number one [reason for the expansion] has been an increase in demand from our existing customers,” […]

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6th Avenue Capital Builds Business Development Team with Veteran Hires

February 6, 2018
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6th Avenue Capital New Team

6th Avenue Capital has hired three seasoned employees to its business development team: Mitch Levy, Gary Lockwood and Marc Seidel. Darren SchulmanChief Operating Officer “We’re putting together a team that I wanted to put together,” said Chief Operating Officer Darren Schulman. “They didn’t come knocking on my door, I knocked on theirs.” This is part […]

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Kabbage Extends Credit Lines to $250,000

February 2, 2018
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credit line increase

Kabbage, the online business lender, is now offering credit lines of up to $250,000, which it says is the largest credit line available from any online lender and will allow the company to expand its customer base to serve larger companies. “Increasing our lines of credit to $250,000 significantly enhances our ability to solve financial […]

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LendingPoint Hires Citibank Veteran as New CFO

February 1, 2018
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Lending Point

LendingPoint, the Atlanta-based online balance sheet lender, announced today that Citibank veteran Tony Martino would be joining the company as CFO. This comes less than one month after the company’s acquisition of LoanHero, a fully integrated, one-stop-shop loan origination and payments platform. LoanHero helps merchants provide access to consumer finance, increase revenue and eliminate friction […]

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