business cash advance

CAN Capital Hired a New CFO: Here’s His Take On The Company

July 23, 2019
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The last 12 months have seen plenty of developments within the offices of CAN Capital. September witnessed the announcement of a new credit facility of $287 million with Varadero Capital. January brought news of the hiring of a new CEO. And now, completing the hat trick is CAN’s employment of John McNeill as its CFO. Coming from years of […]

Kabbage TV Commercial

November 1, 2014
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Another company has joined the TV commercial party and this one’s a little different. Atlanta-based Kabbage has chosen Puddles the Clown as their spokesman. What do you think? Not loading? See it here Below are some of their competitor’s commercials:

OnDeck Already Filed Form S-1

September 27, 2014
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Back on August 14th, the Wall Street Journal reported that OnDeck was preparing to file for an initial public offering. Since then, industry insiders have been bustling with anticipation to see the S-1 filing, the document that would reveal once and for all their true financial standing. Update 11/18/14: Click to see OnDeck’s Public S-1 […]

Are We in a $300 Billion Market?

August 7, 2014
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Earlier today on a large group conference call with Tom Green and Mozelle Romero of LendingClub, I learned a few more details about their business loan program. In the Q&A segment, one attendee came right out and asked if they believed their competition was merchant cash advance companies and online business lenders. According to Green, […]

Six Signs Alternative Lending is Rigged

August 3, 2014
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is alternative lending rigged?

There’s a lot of players at the alternative lending table but there are two that have won a string of lucky hands to put them on top. Neither were the first to draw cards, nor do either of them offer something that everybody else does not. These two lenders have something in common of course, […]

Yield Baby Yield

July 30, 2014
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yields are flying

Somebody once called business loans the Cadillac of Credit products and that person is Brendan Ross, the President of Direct Lending Investments (DLI). In a newsletter he put out in September 2013, he began by saying: Business loans are the Cadillac of credit products, with the highest yields and lowest default rates. Portfolio returns of […]

The Missing Puzzle Pieces

July 24, 2014
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the loan puzzle

About 1% of my LendingClub consumer loan portfolio bounces their very first payment. It’s discouraging stuff, especially considering these loans range between 3 and 5 years. Granted, most manage to get caught back up at least for a little while. LendingClub, like the rest of the alternative lending industry relies on ACH debits to retrieve […]

What Would Barney Frank Say?

July 16, 2014
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While crowd funders navigate the JOBS Act and a possible revision to what constitutes an accredited investor, non-bank business lenders are raising eyebrows with sky high interest rates. Annual Percentage Rates (APRs) are reaching into the triple digits and critics are reaching for their megaphones to say something about it. Unfortunately APRs don’t spell out […]

How Did Kabbage Get Their Name?

July 9, 2014
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I actually always wondered this myself. Kabbage??? What??? In this short 3 and a half minute video interview with COO Kathryn Petralia she reveals a little bit about how the company started.

Industry Survey Results

July 6, 2014
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Curious what the general consensus is on a variety of issues? DailyFunder® polled business lending industry insiders and analyzed the results. Click below to expand the graph, check out the image, or scan the text beneath it: Text version #1 What’s a Merchant Cash Advance? 61% consider it to be strictly a purchase of future […]

Does Culture Make a Difference?

June 30, 2014
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I came across this video that describes the work culture of Kabbage, an Atlanta-based business lender. It’s strikingly different from the way many of the MCA and business lending companies in New York operate. Though New York is well-known for its medieval dungeon-like office environments, especially for smaller companies just getting started, do it too […]

Is Larry King a Funding Spokesman?

June 25, 2014
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This commercial is making the rounds on TV and some folks are wondering if this is indeed Larry King. I think it is: The commercial states that Larry King is a remunerated endorser of LendVantage and his face is all over their promotional materials like facebook. Is it him? Follow the thread on DailyFunder.

High Five!

June 17, 2014
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Access to Capital – A Dose of Reality

June 15, 2014
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new jersey

So much for a lack of transparency… While sitting directly next to Maria Contreras-Sweet, the head of the Small Business Administration, OnDeck Capital’s CEO corrected U.S. Senator Cory Booker’s comments about the APR of their loans. High teens? Not so, said Noah Breslow who explained their average 6 month loan has an APR of 60% […]

Do Opportunities Abound?

June 8, 2014
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Are there opportunities left?

Just recently I found myself in an office surrounded by some folks who had each worked in the merchant cash advance business for more than 10 years. The first generation of MCA pioneers are still out there of course but it’s rare to be in the presence of so many at one time. It was […]

Make Your Voice Heard

May 29, 2014
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Have an opinion on which way the industry is headed? Or eager to read about events that you feel are most relevant? DailyFunder is running a preliminary research survey geared towards those involved in merchant cash advance and alternative business lending. It’s completely anonymous and it will be used to help steer the direction of […]

Industry Leaders Tell All (Videos)

May 25, 2014
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A few weeks ago, I recapped my two days at the LendIt conference in San Francisco. The State of Alternative Business Lending Big Government and Big Data Peter Renton of Lend Academy, who hosted the conference, is putting up the professionally finished videos on his youtube channel. I’ve embedded the ones I think you’ll find […]

The Real Impact on Small Business

May 22, 2014
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the truth

It’s not easy being in the lending business. Just talking about money can make people uncomfortable. Bringing up how much money you have, don’t have, or wish you had is like bringing up politics at Thanksgiving dinner. It’s taboo in this society. It’s even rude to ask somebody how much they make a year. That’s […]

Big Deal #2 Struck in MCA Industry

May 21, 2014
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big deal

Another day, another capital raise for some company or other involved in alternative business lending. That’s the way it is these days, but the news about the American Finance Solutions (AFS)/CapFin Partners deal announced on Wednesday is markedly different. It’s the Rockbridge Growth Equity (RGE)/RapidAdvance deal all over again, the welcoming of a major MCA […]

Would an APR Help?

May 14, 2014
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merchant cash advance APR

Merchant cash advance industry hater Ami Kassar added to his collection of rants today in the Wall Street Journal by writing about the True Costs of Cash-Advance Loans. Bloomberg BusinessWeek writer Pat Clark, knowing full well that Kassar and I have sparred online, tweeted: curious what @financeguy74 thinks RT @akassar: The true cost of cash […]