Business Lending

Views from the Small Business Finance Industry, March 27

March 27, 2020
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As the coronavirus pandemic continues to disrupt the economy and affect small businesses as well as funders, deBanked will keep up with how various figures from the alternative finance sector are managing under the stresses of covid-19. Ranging from funders, to brokers, to those figures on the periphery of the industry, this series aims to […]

Can The SBA Handle The Stimulus On Their Own?

March 27, 2020
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As the market cheers the upcoming passage of a $2 Trillion stimulus bill that is intended to provide much needed support to small businesses, industry insiders are beginning to raise concerns about the SBA’s infrastructural ability to process applications in a timely manner. In a webinar hosted by LendIt Fintech yesterday, Opportunity Fund CEO Luz […]

$2 Trillion Senate Relief Bill to Pass Vote, Includes Small Business Funds

March 26, 2020
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Senate leaders Mitch McConnell and Chuck Schumer have come to an agreement over a stimulus package that would inject $2 trillion into the US economy. With senators debating the bill at the time of writing, it is expected to pass. Said to be the largest and most robust rescue package in American history, the bill […]

Knight Capital’s Intangibles As Reported Through Ready Capital’s Year-End Earnings

March 21, 2020
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Last year, Ready Capital Corporation (NYSE: RC) acquired small business funding provider Knight Capital. RC’s year-end earnings provided some additional insight into the state of Knight Capital at the time it was acquired. This included balance sheet figures that recorded $48.4M in assets ($39.5M of which were purchased future receivables) and $31.8M in liabilities. Among […]

Square is About to Become a Real Bank

March 18, 2020
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Square Financial Services Inc

Artistic rendition Square is on its way to becoming a bank. The payments and online lending company was approved by both the FDIC and the Utah banking regulator this week to create a de novo “industrial” bank. The company has been trying to accomplish this for more than two years. The news means that Square […]

How Small Business Funders Are Reacting to the Coronavirus

March 17, 2020
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eye on your money

In the past week and a half it appears as if six months of panic, reaction, and preparation have taken place. With the coronavirus having transformed from a subconscious worry at the back of our minds to a global pandemic that is leading industries and nations to be reshaped, uncertainty and a lack of information […]

With New York in a State of Emergency, Its Legislators Rush to Regulate Disclosures in the Commercial Finance Industry

March 16, 2020
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New York City

On March 7th, Governor Cuomo declared a disaster emergency for New York State. Four and 6 days later respectively, legislators in the state Assembly and Senate introduced commercial financing disclosure bills that would regulate all business-to-business financing transactions including secured loans, factoring, and merchant cash advances. The bills intend to create uniform disclosures for comparison […]

OnDeck’s Chief Accounting Officer is Leaving The Company

March 16, 2020
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OnDeck

On March 9th, OnDeck filed a disclosure with the SEC that their Chief Accounting Officer, Nicholas Sinigaglia, would be leaving the company on May 1st. Sinigaglia was with the company for more than 5 years. OnDeck said it was doing this as part of changes it had made to streamline its finance organization. Shares of […]

OnDeck NASCAR Partnership

March 13, 2020
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OnDeck Nascar

This week OnDeck announced a new partnership with JR Motorsports, sponsoring their no. 8 Chevrolet team. The deal will see OnDeck’s colors brandished on the car driven by Daniel Hemric for two races during the 2020 NASCAR Xfinity Series season. The first of these races will be in Atlanta this weekend, with the second being […]

“Panic Induces Panic”: David Goldin on Small Business Funding and the Coronavirus

March 12, 2020
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David Goldin

With companies in Australia, Britain, and the United States, David Goldin has weathered storms of various sizes and seriousness over the past two decades. Whether it was the recent wildfires that saw state-sized infernos engulf the Australian countryside, the regulatory upheaval that is Brexit, or the unprecedented shockwaves sent by the 2008 financial crisis, the […]

2020 and Beyond – A Look Ahead

March 3, 2020
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Looking Ahead

This story appeared in deBanked’s Jan/Feb 2020 magazine issue. To receive copies in print, SUBSCRIBE FREE With the doors to 2019 firmly closed, alternative financing industry executives are excited about the new decade and the prospects that lie ahead. There are new products to showcase, new competitors to contend with and new customers to pursue […]

Democrats Call for Interest-Free Loans for Small Businesses Affected by Coronavirus

March 2, 2020
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Covid-19

The leaders of the Democratic Party in the Senate and House, Chuck Schumer and Nancy Pelosi, respectively, have released a joint statement outlining their perspective on providing emergency funding to combat the coronavirus, otherwise known as covid-19. Among the provisions listed is a demand that “interest-free loans are made available for small businesses impacted by […]

United Capital Source Partners with Brex to Offer Deal on Card

February 21, 2020
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Brex - United Capital Source

United Capital Source has partnered with Brex on a deal that will see UCS customers receive bonuses upon sign-up for a Brex Corporate Card. Such rewards include 100,000 points in statement credit and waived card fees for life. “We really wanted to start to offer business credit cards to our clientele. We believe that as we’re […]

CAN Capital Brings On Edward Dietz as Chief Compliance Officer & General Counsel

February 5, 2020
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CAN Capital is continuing its executive hiring spree into 2020 with the news that it has brought on Edward Dietz as its latest Chief Compliance Officer and General Counsel. After providing legal expertise to Marlin Business Services Corporation for nine years and working as an associate for two law firms in Wisconsin and Pennsylvania previous […]

Kabbage Introduces Customized Short Term Loans

February 4, 2020
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kabbage

Today Kabbage, the Atlanta-based fintech company that has been funding businesses since 2009, announced its latest product: customized short-term loans that are a result of the combination of Kabbage Payments and Kabbage Funding. The loans, which run for the length of 3-45 days, are best suited to those businesses who need funding to cover issues […]

Goldman Sachs-Amazon Deal to Offer Small Business Loans in the Works

February 3, 2020
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Amazon Goldman Sachs Partnership

Tech giant Amazon is reportedly in talks with Goldman Sachs to offer business loans to those small and medium sized merchants operating on its marketplace, according to sources that the FT describes as “two people briefed on the discussions with the online retailer.” One of these sources said that it could launch as soon as […]

The Scoop Behind Sprout Funding’s Acquisition of Jet Capital

January 25, 2020
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Sprout Funding Homepage

News from North Texas this month as Dallas-based Sprout Funding announced its acquisition of Jet Capital. The move comes as Sprout seeks to expand its technical operations. “Sprout built a reputation as a group that funds a lot of its own internal deals, and Jet had spent a lot of time, energy, and money on […]

Quarterspot is Shifting Its Business Focus

January 22, 2020
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Money on the beach

Last week, several industry insiders reported receiving an email from NY-based company Quarterspot that said their agreement had been terminated. The contents stated that the company is “shifting its business focus and will no longer be originating loans, but will continue to service currently outstanding loans.” deBanked has confirmed that to be true. More information […]

deBanked CONNECT MIAMI 2020 Photos

January 21, 2020
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deBanked CONNECT MIAMI

View a selection of deBanked CONNECT MIAMI photos here View every official deBanked CONNECT MIAMI 2020 photo on facebook Ready for deBanked’s biggest event of the year? Broker Fair returns to New York City on May 18th REGISTER NOW BEFORE EARLY BIRD PRICING EXPIRES

Declined For Funding? Lack of Time in Business Beats Out Lack of Credit Worthiness

January 20, 2020
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Square Capital Report

A study conducted by Square Capital and the Stevens Center for Innovation in Finance at the Wharton School at the University of Pennsylvania, pulled back the curtain on small businesses and the financing process. Notably, the #1 reason that businesses said they had been declined for funding (regardless of the source) wasn’t credit, it was […]