Business Lending

Small Business Funders Court Florists Before Valentine’s Day

February 14, 2019
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valentines day

Earlier this month, LendingTree published results from a survey they conducted about consumer spending on Valentine’s Day. The main takeaway is that men are planning to spend almost two and a half times more than what their significant others (of either gender) expect them to spend. So there might be some nice surprises today! On […]

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Shopify is Quickly Climbing the Ranks of the Largest Small Business Funders

February 12, 2019
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shopify glyph

Shopify originated $277 million in merchant cash advances in 2018, according to their quarterly earnings reports. That figure already places them among the largest small business funding providers nationwide. Below is a look of how they stack up thus far: Company Name 2018 Originations 2017 2016 2015 2014 OnDeck $2,484,000,000 $2,114,663,000 $2,400,000,000 $1,900,000,000 $1,200,000,000 Kabbage […]

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With Interest Rates Up, OnDeck’s Cost of Funds Comes Way Down

February 12, 2019
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OnDeck NYSE

OnDeck’s cost of funds dropped significantly in 2018, according to their last quarterly report. The rate was 5.6% in Q4, compared to the 6.8% it started off at in Q1. During the earnings call, OnDeck CEO Noah Breslow said, “We improved the terms and structures of our credit facilities and increased the number and quality […]

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Why the Human Connection is Still Important in Debt Recovery

February 10, 2019
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damaged piggy bank

The CEOs and lawyers for debt recovery companies, particularly those in the commercial space, say that speaking to merchants over the phone is the best way to collect money for their clients.  At New York-based Empire Recovery, Managing Attorney Steven Zakharyayev told deBanked that they call this “soft collection.” “Soft collection is probably the most […]

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SBA Processes Significant Loan Volume in Days After the Shutdown

February 4, 2019
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SBA Loan

After the longest partial government shutdown in U.S. history, which shuttered the Small Business Administration (SBA) for more than a month, SBA employees went back to work on Monday, January 28. At the end of the day on January 29, the SBA had processed 1,100 SBA 7(a) loans worth $500 million, according to Bailey Wolff, […]

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Top Accounting Officer at StreetShares Resigns

January 31, 2019
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Military finance

Jesse Cushman, who served as StreetShares’ Chief Business Officer and Principal Financial & Accounting Officer, has resigned, according to a Form 1-U filed with the SEC this week. His exit was made effective as of January 1, 2019. StreetShares president Michael Konson is currently filling the role in an interim capacity until a permanent successor […]

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Fundbox Increases Speed of B2B Transactions

January 29, 2019
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Prashant-Fundbox

Prashant Fuloria, COO, Fundbox At the end of last week, Fundbox announced that it has launched an AI-enabled platform for B2B companies at the point of transaction, or check out. “We’re positioning ourselves to be the PayPal for B2B transactions,” a company spokesperson, Tim Donovan, told deBanked. “And that means becoming as ubiquitous as finding […]

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deBanked CONNECT Miami 2019 Photos

January 28, 2019
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deBanked CONNECT Miami 2019

Photos from the event are below Register For The Next Industry Event!

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Funding Circle Partners with Stripe

January 23, 2019
Article by:

Bernardo Martinez

Funding Circle announced this morning that it has joined the Stripe Partner Program, which will allow the company to provide financing to Stripe customers in the United States. Funding Circle is a small business loan funder that offers fully amortizing small business term loans. Their loans range from $25,000 to $500,000 and have terms between […]

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Small Business Funding is Blasting Off

January 18, 2019
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blasting off

Despite the pall of the record long partial government shutdown which has hurt brokers and funders of SBA loans, many companies and individuals in the online small business funding space are off to a very fruitful 2019. Below are some that we found. Amerifi After 15 years in the screen printing and embroidering business, Edward […]

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