Business Lending

Underwriting 101—Veteran Funders Share Tools of the Trade

August 12, 2018
Article by:

Underwriting Panel

This story appeared in deBanked’s Jul/Aug 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE For brokers, funding partnerships are critical to success. But making the most of these connections can be elusive. “Transparency, efficiency and a thorough scrubbing on the front end can help the whole process,” says William Gallagher, president of CFG […]

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Survey Indicates That Senior Loan Officers Have Eased Standards

August 10, 2018
Article by:

Federal Reserve Building

Domestic banks eased standards or terms on commercial and industrial (C&I) loans over the past three months, according to a July 2018 Federal Reserve survey that gathered information from senior loan officers at banks. The survey received responses from 72 U.S. banks. In the survey, banks cited increased competition from other lenders as a reason […]

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Former Lendio Executive Leaves for Enova/The Business Backer

August 8, 2018
Article by:

Jim Granat

Enova announced last week that Jim Granat has joined the company as its Head of Small Business Financing. This will include oversight of Enova’s small business brands: Headway Capital, which provides lines of credit to small business, and The Business Backer, which provides merchant cash advances, among other products. Enova acquired The Business Backer in […]

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Enova’s Small Business Financing Originations Drop

July 30, 2018
Article by:

enova

Enova CEO David Fisher revealed last week that their small business financing operations had declined. “Our small business financing portfolio represented 8% of our total loan book at the end of Q2,” Fisher said on the July 26th earnings call. “We are remaining cautious on this space as the market rationalizes. As a result, our […]

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CA Bill to Revise Definition of Broker: 6/27/18 Hearing Transcript & Video (AB 3207)

July 29, 2018
Article by:

Limon AB3207 hearing

View all content about this bill AB 3207 – CA Bill to Revise the definition of broker (6/27/18) [0:00:02] Bradford:        We started as a subcommittee. We've already heard Assembly Member Arambula’s Bill AB 1289. Do we have a quorum? We’re gonna ask the secretary to call the roll and establish the quorum. Speaker:        Senator Bradford. Bradford:        Here. Speaker:        Bradford […]

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90% of PayPal Merchant Advances and Business Loans Are Performing On Pace

July 28, 2018
Article by:

PayPal LoanBuilder

As of June 30, 90.6% of PayPal’s merchant advances and business loans were performing within the original expected repayment period, the company disclosed this week. That equated to $1.27 billion worth of deals. Only 4.2% of their merchants were more than 90 days behind their expected pace. PayPal had $1.4 billion in outstanding merchant loans, […]

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Thinking Capital, Equifax Create Canadian Small Business Credit Grades

July 10, 2018
Article by:

Jeff Mitelman Thinking Capital

Jeff Mitelman, CEO, Thinking Capital Equifax and Thinking Capital today announced the launch of BillMarket, a service that will now provide Canadian small businesses with a credit grade, A through E. CEO and cofounder of Thinking Capital Jeff Mitelman told deBanked this is revolutionary because, up until now, a Canadian small business’ creditworthiness has usually […]

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What Will Happen to HomeZen After the Breakout Capital Deal?

July 3, 2018
Article by:

HomeZen

With today’s announcement of Breakout Capital Finance’s acquisition of HomeZen’s technology, deBanked wondered what will happen to HomeZen after the acquisition of its technology. HomeZen’s co-founder and Head of Technology Mike Spainhower will work with Breakout Capital to help integrate the HomeZen technology into Breakout Capital’s system, Breakout Capital Chief Operating Officer Mendelsohn told deBanked. […]

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Kalamata Capital Merges with Kings Cash Group

June 28, 2018
Article by:

Kalamata Capital Group

Kalamata Capital announced today that it has entered into an agreement to merge with Kings Cash Group, effective July 1. The new entity will be called Kalamata Capital Group, or KCG, retaining the Kalamata Capital brand. Together, the new entity and its affiliates will provide approximately $300 million of capital annually to over 5,000 small businesses. Michael […]

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Funding Circle Expands Partnership with INTRUST Bank to Support More US Small Businesses

June 27, 2018
Article by:

Funding Circle Bernardo Martinez

Bernardo Martinez, US Managing Director, Funding Circle Yesterday, Funding Circle and INTRUST Bank announced the next phase of their strategic partnership, which helps provide capital to American small businesses. This second phase increases INTRUST’s funding commitment and initiates a targeted, co-branded marketing campaign, giving business owners across Kansas, Missouri, Oklahoma, and Arkansas greater access to […]

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