Business Lending

OnDeck Shows A Path Forward

February 15, 2018
Article by:

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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Banks, Alt Funders Continue to Compete for Small Business

February 13, 2018
Article by:

banks, alternative funders

This story appeared in deBanked’s Jan/Feb 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE The alternative small-business finance industry owes its very existence to banks’ reluctance to lend money to mom-and-pop shopkeepers, tradespeople and restauranteurs, but bankers’ tight fists may be loosening. Small-business owners are reporting better results when they apply for bank […]

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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
Article by:

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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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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StreetShares Completes $23 Million Investment, Sticking With Their Plan

January 30, 2018
Article by:

Veterans small business lending

StreetShares, the small business lender focused on making loans to veteran-owned businesses, completed a $23 million series B funding round last week. The round was led by a $20 million investment from Rotunda Capital Partners, LLC, with an additional $3 million from existing investors, including Stoney Lonesome Group. According to the company’s June 30th 2017 […]

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deBanked Connect – Miami (Recap)

January 30, 2018
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deBanked Connect Miami

Thank you to everyone who attended our cocktail networking event in South Beach last week. It was a great opportunity for funders, lenders, brokers and others in the industry to connect with each other (many for the first time ever). Thank you again to Everest Business Funding, National Funding, Knight Capital Funding, NISO, Grand Capital […]

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BFS Capital’s Marrache on Canadian Small Business Landscape

January 28, 2018
Article by:

Michael Marrache

Michael Marrache, CEO, BFS Capital It’s been about five months since Michael Marrache took the reins as CEO of BFS Capital. He spoke with us then about the company’s algorithmic solutions, ISO relationships and product pipeline. He recently took some time to talk with deBanked about the key themes in the Canadian market in 2018 […]

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New Legislation boosts SBA Oversight Over 7(a)

January 17, 2018
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SBA Loans

This month, the Small Business 7(a) Lending Oversight and Reform Act of 2018 was put forth by a bipartisan team of lawmakers. If approved, the bill will increase the Small Business Administration’s (SBA) oversight authority over the 7(a) loan program, which aids small businesses and entrepreneurs as they set out to launch or grow their […]

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