Articles by Todd Stone

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When to Hire a Collection Company

June 19, 2018
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picking up the phone

Christine Chang, CEO, 6th Avenue Capital There is no rule telling a funding company at what point it should seek the help of a collection company when a client defaults on an agreement. That’s entirely up to the funding company. Some have in-house collection teams while others don’t and some go slower to approach a […]

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Collector Says “No” to Debt Settlement Companies That Want His Data

June 19, 2018
Article by:

Shawn Smith - Dedicated Commercial Recovery

Debt settlement companies often find their leads by scouring through UCC filings, or publicly available forms that a creditor files to give notice that it may have rights to the property of a debtor. In the case of a small business, perhaps the refrigerators in a restaurant. “[Looking through UCC filings] is a way of […]

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Agency Finds Some SBA Loan Lenders in Violation of Regulation

June 18, 2018
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SBA Loans

The Small Business Administration (SBA) has a regulation for SBA loan lenders, called the “Credit Not Available Elsewhere” requirement, that requires lenders to ensure that their borrower clients are unable to obtain reasonable credit elsewhere. According to a report published this month by the Government Accountability Office (GAO), over 40 percent of the SBA loan […]

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Lawyers in LendingClub Class Action Case Defend Fee That ‘Shocked’ a Judge

June 14, 2018
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class action lawsuit

Lawyers from Robbins Geller Rudman & Dowd represented clients in a class action suit against LendingClub and reached a settlement with the company for $125 million. The law firm, which was working on contingency, requested a 13.1 percent cut of the winnings, or $16 million, which a California Federal judge said “shocked” him. Earlier in […]

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Funding Circle Report Shows Demand for Alternative Financing

June 14, 2018
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funding circle

Funding Circle, together with Oxford Economics, released a report this week using data from its customers last year. Funding Circle is a business loan platform that matches small business borrowers with investors that want to lend. Some of these findings may be reflective of the broader alternative finance market. Data from the report conveys that […]

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Lending Express Opens Office in Silicon Valley

June 13, 2018
Article by:

Eden Amirav

Tel Aviv-based Lending Express announced its entrance into the U.S. market yesterday. It opened an office in San Matteo, CA and has officially appointed Moshe Kazimirsky as VP of Strategic Partnerships and Business Development to support the new West Coast office. “After the immense success we’ve had in the Australian market, we knew that our […]

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Equipment Leasing Report Foresees Rising Inflation and Interest Rates

June 12, 2018
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Quadrant chart

The Equipment Leasing and Finance Foundation issued a report called “How Inflationary Pressures and Rising Interest Rates Could Impact the Equipment Finance Industry.” Given its name, the report is fairly self-explanatory. Its premise is that within the next one to three years there is likely to be a rise in inflation and interest rates which […]

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New York Institute of Credit Celebrates 100 Years and Honors Harvey Gross

June 12, 2018
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New York Institute of Credit Speech

About 300 people gathered underneath the soaring ceilings of Guastavino’s ballroom in Manhattan last night to celebrate the 100th anniversary of the New York Institute of Credit (NYIC). Most attendees were members of the association, which provides networking opportunities and education to a myriad of constituents, including factors, financial advisors, lawyers, investors and accountants. “[NYIC] […]

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Second Annual Alternative Finance Bar Association Conference Draws Lawyers from Afar

June 11, 2018
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AFBA Conference Kate - Pat - Brian

Attorneys who represent alternative finance companies congregated in New York on Friday for the second annual conference of the Alternative Finance Bar Association (AFBA.) They came for a day of learning about the latest legal developments pertaining to alternative finance, and MCA in particular. Seminars at the conference had names like: “Credit Facilities 101: What […]

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US Business Funding Will Retain Name & Special Sauce in Wake of Fora Deal

June 8, 2018
Article by:

Jared Feldman

Fora Financial’s announcement yesterday that it acquired a sizable stake in US Business Funding (USBF) will create one of the “largest, broadest reaching direct sales organizations in the small business alternative lending space,” the company said in a statement. USBF is a direct sales and marketing company of about 40 to 50 people. Fora Financial […]

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