Business Lending

LinkedIn Posts Are Turning Into Deals & Dollars

March 14, 2019
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LinkedIn

On average, I sign up one ISO every time I post a message on LinkedIn, says Jennie Villano, VP of Business Development at Kalamata Capital Group. They don’t all end up submitting business, she adds, but overall it works. It costs her nothing more than her time and it produces results. Villano is among the […]

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Competition Steps Up in Canadian Small Business Lending Market

March 11, 2019
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Canada

Last week’s announcement by Funding Circle that it will establish an operation in Canada later this year is part of a trend of large non-Canadian funders entering or expanding into the Canadian market, according to Adam Benaroch, President of CanaCap, a small business funder based in Montreal. Funding Circle started in the UK and expanded […]

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Square Capital On Pace to Overtake OnDeck in Small Business Lending

February 28, 2019
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Square Versus OnDeck

OnDeck’s annual loan origination volume has more than doubled since 2014, from $1.2 billion to $2.5 billion, allowing them to retain the top spot in deBanked’s small business funder rankings. But Square Capital, the small business lending division of Square, has grown by 16x since 2014. In the course of 5 years, they’ve gone from […]

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The Art of Moving The Deal – When it becomes too high risk for you

February 27, 2019
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garbage removal

OakNorth, a small and medium sized business lender and online bank, has mastered a strategy to avoid merchants from defaulting 100% of the time, according to a story published in Quartz. The strategy: tell the merchants at risk of defaulting to refinance their loans at a competitor. “We’ve said [to merchants], ‘Go renegotiate with another […]

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True Story: I Cold Called a Merchant

February 25, 2019
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Todd Stone Makes a Cold Call

While visiting the office of Excel Capital in Manhattan on a reporting assignment, I saw a few open desks. They weren’t exactly empty, just available. There were phones, headsets, and computers all set up, just waiting for a salesperson to sit down and plug in. I pictured the salespeople I’ve previously profiled, smiling & dialing, […]

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Deal Flow in the Heartland — From Mississippi and Beyond

February 23, 2019
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deBanked January February 2019 Cover Snippet

This story appeared in deBanked’s Jan/Feb 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE The political, cultural and economic abyss that separates the heartland from the coasts seems to grow deeper and wider with each passing day, and trying to reconcile the disparities can feel nearly hopeless. But differences among geographic locations aren’t […]

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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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