Articles by Todd Stone

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Elevate Reflects on Success of Fintech in Personal Loans

February 21, 2019
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The unsecured personal loan market hit an all-time high in 2018, jumping 17 percent year-over-year to $138 billion, according to data from TransUnion released today and featured in a CNBC story. “The rapid growth in consumer loans sits squarely on the shoulders of fintechs,” said Jason Laky, senior vice president and leader of TransUnion’s consumer […]

How Should a Funder Market?

February 20, 2019
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Whether it’s marketing to ISOs or for direct leads, funders have different marketing techniques that suit their size and business philosophy. Credibly, a New York-based company of 160 employees, works with LendingTree and uses Google and Facebook for leads. But Director of Marketing and Strategic Partnerships Jeffrey Bumbales said that advertising on large pay-per-click channels […]

Small Community Banks Power Fintech Revolution

February 15, 2019
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“A few years back there was a lot of disruption talk about how the fintechs were going to destroy the banks,” said Jo Ann Barefoot, co-founder of Hummingbird Regtech and a former deputy U.S. Comptroller of the Currency, which regulates national banks. “There’s much more talk in the last few years about the need for […]

Small Business Funders Court Florists Before Valentine’s Day

February 14, 2019
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Earlier this month, LendingTree published results from a survey they conducted about consumer spending on Valentine’s Day. The main takeaway is that men are planning to spend almost two and a half times more than what their significant others (of either gender) expect them to spend. So there might be some nice surprises today! On […]

Fintech Inevitable, But Petrou Says Risks Abound

February 12, 2019
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becoming a bank

At the end of last week, two large regional banks, BB&T and SunTrust announced that they are merging. The entity will be the sixth largest U.S. bank and the largest bank merger since the 2008 financial crisis. A MarketWatch story yesterday indicated that large bank mergers are part of a somewhat recent trend, citing the […]

Liquid FSI to Augment Healthcare Lending Platform with Blockchain Technology

February 11, 2019
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Frank Capozza

Liquid FSI announced today that it has entered into an agreement with TVS Next, an IT company, to build a blockchain platform to enhance its healthcare lending capabilities. “Our Blockchain solution solves a myriad of issues including the privacy of provider [typically medical office], biller, payer, patient and bank data,” said Liquid FSI President and […]

Why the Human Connection is Still Important in Debt Recovery

February 10, 2019
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damaged piggy bank

The CEOs and lawyers for debt recovery companies, particularly those in the commercial space, say that speaking to merchants over the phone is the best way to collect money for their clients.  At New York-based Empire Recovery, Managing Attorney Steven Zakharyayev told deBanked that they call this “soft collection.” “Soft collection is probably the most […]

Why RapidAdvance Is Now Rapid Finance

February 7, 2019
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Rapid Finance

RapidAdvance has officially changed its name to Rapid Finance. “The term ‘advance’ is out of favor these days,” said founder and Chairman of Rapid Finance Jeremy Brown. “It also doesn’t reflect who we are as a company or what our brand is. We put our clients in a variety of different financing solutions including factoring, […]

Home Improvement Loans on the Rise

February 6, 2019
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home improvement

A story this week in American Banker suggested that popular home improvement TV shows like HGTV’s “Fixer Upper,” “Love It or List It” and “Property Brothers” are creating a growing demand for home renovation, and hence, home renovation loans.     Nielsen rating data shows that the combined viewership of the three aforementioned shows on the […]

Meet deBanked’s Pig, and Fund Like One Too

February 5, 2019
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Sister Mary Frances - deBanked Pig

Today is the Chinese New Year and the first day of the Year of the Pig, an animal that we at deBanked hold very dear.  After all, a piggy bank is featured in our logo! According to the Chinese zodiac, a pig “represents luck, overall good fortune, wealth, honesty, general prosperity” and symbolizes “a hard […]

SBA Processes Significant Loan Volume in Days After the Shutdown

February 4, 2019
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SBA Loan

After the longest partial government shutdown in U.S. history, which shuttered the Small Business Administration (SBA) for more than a month, SBA employees went back to work on Monday, January 28. At the end of the day on January 29, the SBA had processed 1,100 SBA 7(a) loans worth $500 million, according to Bailey Wolff, […]

Fundbox Increases Speed of B2B Transactions

January 29, 2019
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Prashant Fuloria, COO, Fundbox At the end of last week, Fundbox announced that it has launched an AI-enabled platform for B2B companies at the point of transaction, or check out. “We’re positioning ourselves to be the PayPal for B2B transactions,” a company spokesperson, Tim Donovan, told deBanked. “And that means becoming as ubiquitous as finding […]

Funding Circle Partners with Stripe

January 23, 2019
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Bernardo Martinez

Funding Circle announced this morning that it has joined the Stripe Partner Program, which will allow the company to provide financing to Stripe customers in the United States. Funding Circle is a small business loan funder that offers fully amortizing small business term loans. Their loans range from $25,000 to $500,000 and have terms between […]

PayPal Credit Commits $25 Million to Help Unpaid Government Workers

January 21, 2019
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PayPal announced Friday that it was devoting $25 million to a program that offers interest-free cash advances of up to $500 to federal workers who have been impacted by the record long partial government shutdown. “No matter where you stand on the issues, the fact is that 800,000 of our fellow Americans suddenly find themselves […]

Small Business Funding is Blasting Off

January 18, 2019
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blasting off

Despite the pall of the record long partial government shutdown which has hurt brokers and funders of SBA loans, many companies and individuals in the online small business funding space are off to a very fruitful 2019. Below are some that we found. Amerifi After 15 years in the screen printing and embroidering business, Edward […]

Joust Launches Banking Platform for Entrepreneurs

January 17, 2019
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Lamine Zarrad

Lamine Zarrad, CEO, Joust This week marked the launch of the Joust iOS app, a platform for freelancers and small businesses that provides banking, payments, collections and invoice factoring solutions. The Android App is scheduled for release on February 1, 2019. “We straddle three different domains: payments, merchant processing, and factoring, all in one app,” […]

Capify Secures Massive Credit Facility from Goldman Sachs

January 16, 2019
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David Goldin

Capify, which serves the UK and Australia markets, announced this morning that it has secured a £75 million (roughly $95 million) credit facility from Goldman Sachs. “This credit facility validates our company as a leader in the marketplace and underlines the strength of our business model to provide simple, affordable and smart financial options to […]

Why Strategic Funding Rebranded as Kapitus

January 15, 2019
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Kapitus Website

Today, Strategic Funding announced the launch of a new brand identity, including a name change. Strategic Funding will now be called Kapitus. “We had a name that was very well respected,” said Kapitus founder and CEO Andy Reiser. “Everybody loved our name, quite frankly. They loved it so much, they all copied it. You can’t […]

LendUp Gets a Shake-up

January 11, 2019
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Anu Shultes

Anu Shultes, LendUp’s new CEO Among other company news, LendUp announced yesterday that it has formed a separate company called Mission Lane that will be devoted to scaling its credit card business. LendUp will continue to operate under its name and will focus on personal loans, education and savings opportunities, according to the announcement. Along […]

How an SBA Lender is Managing Through the Shutdown

January 10, 2019
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Everett Sands

Everett Sands, CEO, Lendistry As a result of the U.S. government shutdown that started on December 22 of last year, hundreds of thousands of government employees have been working without pay. The shutdown has also temporarily stopped the Small Business Administration (SBA), a government agency, from operating. This means that obtaining an SBA loan, which […]