00:00.000 --> 00:03.630 Johny Fernandez: Fernandez with deBanked TV. So you may be 00:03.660 --> 00:08.760 noticing that my co anchor co host, Sean, he's not here today. 00:08.880 --> 00:12.060 So he's actually not going to be joining me today. He will be 00:12.060 --> 00:15.270 back on Wednesday. But we're gonna pretend that Sean is still 00:15.270 --> 00:18.210 here, as we go through the headlines today, and we're gonna 00:18.210 --> 00:21.480 have a pretty good conversation about some of the future events 00:21.480 --> 00:24.420 for deBanked, then just got a couple of things, we're going to 00:24.420 --> 00:26.910 talk about that it's going to be really exciting. So we're going 00:26.910 --> 00:28.680 to go through them, and we'll get we're gonna pretend Sean's 00:28.680 --> 00:31.260 here. And I'm probably going to mimic what Sean would probably 00:31.260 --> 00:34.920 say during these conversations that I'm going to walk through. 00:34.980 --> 00:40.290 So I guess stay put, and let's walk through this together. 00:40.530 --> 00:42.930 Again, I'm Johnny Fernandez. And I'm so happy that you're here 00:42.930 --> 00:47.130 joining me on deBanked. TV, and Sean would say I'm Sean Murray. 00:47.130 --> 00:49.800 And it's like, Alright, cool. Alright, so the first things 00:49.800 --> 00:52.230 that we're going to first thing that we're going to talk about 00:52.230 --> 00:56.910 is regarding Kabbage, and they've actually gone back into 00:56.910 --> 01:01.440 the Small Business Funding area. So we did announce over the 01:01.440 --> 01:05.820 spring that they stopped lending to small businesses, but many 01:05.820 --> 01:08.670 assume that they're going to pick up where they left off. So 01:08.670 --> 01:14.970 in August of 2020, Kabbage, they had a repurpose as a checking 01:14.970 --> 01:18.210 account service. And then last week, Kabbage announced that 01:18.210 --> 01:22.260 they are returning to funding and they said that they're going 01:22.260 --> 01:30.450 to offer credit between $1,000 to $1,500 line of credits, and 01:30.450 --> 01:34.620 they we're gonna actually backed by Amex. So pretty much, you 01:34.620 --> 01:37.830 know, you can apply minutes if you want to apply using Kabbage, 01:38.010 --> 01:41.310 and you can access the working capital. Now we know that 01:41.310 --> 01:43.950 Kabbage has been in the game for quite some time, and they were 01:43.950 --> 01:48.060 actually one of the largest online small business lenders in 01:48.060 --> 01:51.840 2019. So it's definitely something that we had talked 01:51.840 --> 01:55.710 about before. And Sean, you know, if he was here, I'm pretty 01:55.710 --> 01:59.520 sure he would have said that, you know, it was no surprise 01:59.520 --> 02:02.550 because they had such a backing with American Express that they 02:02.550 --> 02:05.820 were going to kind of work towards something to kind of get 02:05.820 --> 02:09.930 back in the game. So yeah, it's definitely interesting to see, 02:10.020 --> 02:14.490 you know, how this will end up. And pretty much how, you know, 02:14.490 --> 02:18.780 they'll kind of take their spin on line of credit, and, you 02:18.780 --> 02:22.860 know, business lending for small businesses. So yeah, I mean, 02:22.860 --> 02:25.590 it's definitely something that a lot of people are keeping their 02:25.590 --> 02:30.030 eye on, especially after the merge with American Express. So 02:30.060 --> 02:32.820 the next topic of conversation that we're going to discuss is 02:32.820 --> 02:36.330 going to be about PPP loans. Now, Sean and I, we've talked to 02:36.330 --> 02:40.500 you guys about PPP loans. Since last year, obviously, it was a 02:40.500 --> 02:43.980 hot topic. And you know, businesses everywhere were 02:43.980 --> 02:46.230 applying for it. People were getting it people were not 02:46.230 --> 02:49.200 getting it. So there was a big conversation regarding it. And I 02:49.200 --> 02:51.900 know Sean would probably say something along the lines of 02:51.900 --> 02:56.400 like man, like again with the PPP conversation. But this one 02:56.400 --> 03:00.030 is interesting, because this is a former NFL player, he was wide 03:00.030 --> 03:04.620 receiver for the for the bears. His name was Joshua Bellamy. And 03:04.620 --> 03:10.050 he was actually sentenced last week, because he actually 03:10.050 --> 03:13.680 committed PPP fraud. Now, according to the court documents 03:13.680 --> 03:17.520 ahad stated that his company, his company was called Drip 03:17.520 --> 03:22.110 Entertainment. They actually obtained about $1.2 million. 03:22.830 --> 03:27.900 Again, 1.2 million million dollars in PPP funding and PvP 03:27.900 --> 03:30.630 loans. So I know that's something that, you know, it's a 03:30.630 --> 03:33.840 lot of money. And this was aimed for small businesses to 03:34.050 --> 03:37.680 continue, you know, getting a continue to be in business 03:37.920 --> 03:41.340 during the pandemic. So, it was interesting, because reading 03:41.340 --> 03:44.760 through the documents, he can clearly see that he was using 03:44.760 --> 03:47.820 the money, and he admitted it too he was using the money for 03:47.820 --> 03:53.400 things like jewelry saying at the Seminole County, excuse me 03:53.400 --> 03:57.390 Seminole resort and casino in Florida, and he was just using 03:57.390 --> 04:01.140 the money, you know, on a bunch of different things that were 04:01.140 --> 04:06.930 not, you know, technically for business purposes. So now, he's 04:06.930 --> 04:12.030 been sentenced to 37 months, you know, in federal prison for 04:12.030 --> 04:16.380 this. Now, he did plead guilty. And again, sentence he was 04:16.380 --> 04:20.340 sentenced on Friday, December 10. Now, is it surprising that 04:20.340 --> 04:23.850 some of these celebrities have used this money to, you know, 04:23.910 --> 04:29.280 use it in things that, you know, are not business related? I'm 04:29.280 --> 04:32.490 not surprised by I don't know what Sean would say if he was 04:32.490 --> 04:36.300 here. But you know, it's not surprising, but it is a lot of 04:36.300 --> 04:41.790 money. And of course, he did get caught. So it's, you know, it's 04:41.790 --> 04:46.590 something that, you know, it's, it's not shocking, but it's more 04:46.590 --> 04:49.350 disappointing, because I know a lot of businesses were using the 04:49.350 --> 04:55.230 PPP loans to pretty much get on their feet. So, again, sentenced 04:55.260 --> 04:59.850 to federal prison last week, about 37 months in federal 04:59.850 --> 05:00.720 prison. And so 05:02.130 --> 05:08.220 Yeah, and he was fraudulently obtaining $1.2 million. That's a 05:08.220 --> 05:11.370 lot of money, not for business, but just in general. But, you 05:11.370 --> 05:16.260 know, it's still, you know, not actually, it's not the smartest 05:16.260 --> 05:19.770 move on his end obviously, so he is paying the consequences for 05:19.770 --> 05:22.470 it. And the next thing we're going to talk about is 05:22.500 --> 05:25.710 definitely something that we've all been able to see throughout 05:25.710 --> 05:28.890 the last couple of months is inflation. Now, we know that 05:28.890 --> 05:32.550 inflation has surged to a 39 year high as consumer prices 05:32.580 --> 05:35.790 soar. Now, this was an article that, you know, we have online 05:35.790 --> 05:39.630 posted on deBanked.com. And it's, uh, it definitely talks 05:39.630 --> 05:44.010 about, you know, everything going up. So we've hit a 39 year 05:44.010 --> 05:47.670 high. And we've seen things like gasoline go up, we've seen 05:47.670 --> 05:51.420 things like groceries go up, things like red meat, eggs, 05:51.480 --> 05:55.620 milk, everything has gone up. Now, we do know that economists 05:55.620 --> 06:00.600 say they predict that the surge will continue to be at 6.8. And 06:00.600 --> 06:03.060 that the Labor Department says that the increase for food and 06:03.060 --> 06:07.410 energy, you know, will continue to possibly go up. So that's 06:07.410 --> 06:10.440 something that obviously, it's not shocking, because, you know, 06:10.440 --> 06:14.400 we have seen the trend. But it's something that it's impacting 06:14.400 --> 06:17.880 all of us. So the inflation is going high. And I felt like in 06:17.880 --> 06:20.430 previous videos, Sean and I, we've talked about inflation, 06:20.460 --> 06:23.100 and how that's going to impact all of us how that's impacting, 06:23.280 --> 06:25.800 you know, this space, and just how it's impacting the country 06:25.800 --> 06:31.410 in general. So it's definitely something that I mean, it was 06:31.410 --> 06:34.080 bound to happen at this point. I mean, we've talked about here on 06:34.080 --> 06:37.890 the show, and unfortunately, you know, it does affect, you know, 06:37.890 --> 06:42.060 our pockets and how we're actually, we're using our money. 06:42.060 --> 06:45.270 So we'll definitely be interested to see how that's 06:45.270 --> 06:48.330 gonna play out within the next couple of months starting in the 06:48.360 --> 06:50.490 new year and see what happens in the summer, there's different 06:50.490 --> 06:53.940 predictions going on for the summer. So you know, if you want 06:53.940 --> 06:56.400 to buy anything from like a house, to a car to your 06:56.400 --> 07:00.840 groceries, it's something that's impacting just across, you know, 07:00.840 --> 07:05.370 the spectrum in in different areas. And I know Sean could 07:05.370 --> 07:08.790 attest to that. It's something that we've seen firsthand how 07:08.790 --> 07:13.020 it's impact, you know, us, in general. So we'll see what 07:13.020 --> 07:16.830 happens. So that's all the headlines. I know, it's a short, 07:16.830 --> 07:20.670 it's a short, short day regarding headlines and the 07:20.670 --> 07:22.830 topics that we're discussing about obviously, if Sean was 07:22.830 --> 07:25.920 here, we'd be going back and forth and talking, you know, 07:25.920 --> 07:30.720 kind of doing a little bit more elaboration on everything. But 07:30.750 --> 07:33.330 you know, there's no one to talk to here. So he's not here for 07:33.330 --> 07:37.650 the day. But something we have been talking a lot about is 07:37.650 --> 07:40.710 about the events that are going to be going on with deBanked. So 07:40.710 --> 07:43.890 obviously, we just wrapped a Broker Fair, it was a success. 07:44.070 --> 07:47.790 Everyone's happy. If Sean was here, he'd say it was a success 07:48.360 --> 07:49.260 with his beard. 07:50.530 --> 07:52.570 And that was exciting. So obviously, we're gonna keep the 07:52.570 --> 07:56.470 momentum going. We have deBanked Connect Miami, so I'm going to 07:56.470 --> 07:59.920 introduce that right now. I'm going to play my Miami music. do 08:00.070 --> 08:05.230 do do do do do do doo doo doo doo doo doo go. Alright, so this 08:05.230 --> 08:11.320 is a book from the last deBanked Connect. So this year, this time 08:11.320 --> 08:14.560 around. So it's gonna be happening next year on March 24. 08:15.160 --> 08:18.010 Specifically, the team wanted me to emphasize that it's going to 08:18.010 --> 08:22.840 be taking place at the JW, Marriott Marquis, not the JW, 08:22.840 --> 08:26.830 Marriott the JW, Marriott, Marquis, special attention to 08:26.830 --> 08:30.820 that it's going to be going on on March 24. So I'm going to 08:30.820 --> 08:34.210 break down five reasons why you should go. Because to be quite 08:34.210 --> 08:36.700 frank with you, it's an event that you're not gonna want to 08:36.700 --> 08:40.210 miss. And again, it's going to be happening in a pretty awesome 08:40.210 --> 08:43.630 place down in Miami. So five reasons why you should attend. 08:43.870 --> 08:46.570 Number one, we're going to be there. All the team here in 08:46.600 --> 08:48.490 deBanked is going to be there. So if you've been to a deBanked 08:48.490 --> 08:54.400 event, you know that by far, it's the it's a fun event and 08:54.400 --> 08:57.520 the people there are awesome, and you get to meet all of us. 08:57.820 --> 09:01.060 So that's first reason. Second reason it's going to be in 09:01.060 --> 09:04.000 Miami, it's going to be in March. I mean, if you're living 09:04.000 --> 09:06.670 here in New York, March is still kind of you know, we're still 09:06.670 --> 09:10.060 dealing with winter like the last bit of winter. So you know, 09:10.060 --> 09:14.440 you want nice weather, sunshine and great people. Come on 09:14.620 --> 09:17.410 deBanked Connect Miami. The third reason why you should go 09:17.410 --> 09:20.170 is because it's a great place to network. Something we saw with 09:20.170 --> 09:22.540 Broker Fair is that a lot of people were meeting other 09:22.540 --> 09:25.270 people, either for the first time or reconnecting with 09:25.270 --> 09:28.900 people. So listen, this is the best place to meet people, if 09:28.900 --> 09:33.010 specially if you live in down south. So, you know, this is a 09:33.010 --> 09:36.730 South Florida event. You know, whether you're here in Miami, or 09:36.730 --> 09:39.850 in New York, this is the event you want to be there to connect 09:40.000 --> 09:43.360 with people to just kind of get a better feel for people that 09:43.360 --> 09:45.430 you want to work with people that you've been working with. 09:45.700 --> 09:48.280 And if you're new to the industry, this is a no brainer. 09:48.280 --> 09:52.570 You guys like definitely take the time off of work, spend the 09:52.570 --> 09:57.070 money and network. So the fourth reason why this is the event to 09:57.070 --> 10:00.970 be at is because this is going to be more of a Happy Hour feel, 10:00.970 --> 10:03.970 so it's not going to be the whole day. But it's still gonna 10:03.970 --> 10:08.230 be a time for you to grow in the knowledge of this space of this 10:08.230 --> 10:11.140 industry, because things are changing. And something that I 10:11.140 --> 10:14.620 saw over at Broker Fair was that there's a lot of adjustments 10:14.620 --> 10:16.960 that people need to make, whether you're just starting in 10:16.960 --> 10:20.110 the business, or whether you're super experienced in the 10:20.110 --> 10:22.630 business, whether you're a seasoned veteran, you know, it's 10:22.630 --> 10:25.870 definitely always time to learn and grow and see what other 10:25.870 --> 10:29.260 people are doing. So the networking aspect again, and the 10:29.260 --> 10:32.980 fifth reason why you would want to go here is because, you know, 10:32.980 --> 10:37.300 this is Miami is a hub for the FinTech community for 10:37.390 --> 10:40.420 alternative finance, you know, it is becoming a place where 10:40.510 --> 10:43.090 there's a lot of movement going around. So I wouldn't be 10:43.090 --> 10:45.370 surprised if there was people that are not from the 10:45.370 --> 10:48.400 alternative finance industry, if they end up showing up. So it's 10:48.400 --> 10:52.000 definitely definitely, you know, being it's going to be it's a 10:52.000 --> 10:55.270 hub, it's becoming a hub already. You know, we have I 10:55.270 --> 10:57.640 know there because I've been there personally, to do stories 10:57.640 --> 11:00.970 for deBanked. You know, the mayor, there's also you know, 11:00.970 --> 11:04.480 city leaders that they're really trying to implement and bring 11:04.540 --> 11:07.450 all together people from the FinTech community, people from 11:07.450 --> 11:10.630 the alternative finance community. So it's a very 11:10.630 --> 11:13.780 welcoming place. So you if you haven't been there, since 11:13.780 --> 11:16.930 everything kind of started with that movement, I definitely 11:16.930 --> 11:19.630 would suggest for you to check it out. Because, again, you 11:19.630 --> 11:23.980 know, is a great place to really see if it's, you know, how you 11:23.980 --> 11:26.260 can benefit from it. So again, 11:27.290 --> 11:32.750 Miami, deBanked deBanked, Connect Miami, March 24, at the 11:32.750 --> 11:38.510 JW, Marriott, Marquis, again, JW, Marriott, Marquis, please, 11:38.660 --> 11:41.270 if you haven't gotten your ticket, do so already. The 11:41.270 --> 11:46.100 information is online. And yeah, we can definitely hope to see 11:46.100 --> 11:49.760 you guys there. So that's all the time for today. Again, this 11:49.760 --> 11:53.420 was a quick episode, because obviously Sean's not here and 11:53.420 --> 11:55.760 we're just going through some of the the different topics and 11:55.760 --> 11:58.880 conversations of this week's headline. So if you have any 11:58.880 --> 12:02.090 questions, if you have any, anything that we would you would 12:02.090 --> 12:05.000 want us to talk about here on the show, please reach out to us 12:05.030 --> 12:07.940 don't hesitate. Then also, don't forget to follow us on our 12:07.940 --> 12:10.700 social media links. And most importantly, don't forget to log 12:10.700 --> 12:14.480 on to deBanked.com every day to make sure you know the latest on 12:14.600 --> 12:18.020 the headlines that's going on and also the Daily Funder, make 12:18.020 --> 12:20.150 sure that you're there if you want to connect with other 12:20.150 --> 12:24.920 people in the community in this space, specifically. Great 12:24.920 --> 12:28.160 topics also over there. So again, if you want to reach out 12:28.160 --> 12:30.560 to us, talk to us and let us know what you want to hear 12:30.560 --> 12:34.250 about. Please let us know. Again, regarding Broker Fair, 12:34.520 --> 12:38.330 there's pictures online now. So if you haven't checked those 12:38.360 --> 12:42.200 out, please check it out. Also the sizzle reel that's also on 12:42.230 --> 12:45.950 deBanked.com. So definitely don't miss out. Check those out. 12:45.950 --> 12:48.530 And then obviously, hopefully, we'll see you at deBanked 12:48.530 --> 12:52.160 Connect Miami, you're not gonna want to miss this one. So from 12:52.160 --> 12:55.430 all of us here at the deBanked studio in Brooklyn. I'm Johnny 12:55.430 --> 12:59.900 Fernandez. This is not Sean Murray, but he would say I'm 12:59.900 --> 13:01.940 Sean Murray. And we'll see you guys next time.