Business Lending

THE ABCs OF SBDCs

December 16, 2018
Article by:

This story appeared in deBanked’s Nov/Dec 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE An often-overlooked national network of nearly a thousand Small Business Development Centers has the potential to help alternative funders cement relationships with existing clients and locate new ones. The centers, known as SBDCs, offer free or low-cost training and […]

View Post

OnDeck Expands Canadian Business with Merger

December 5, 2018
Article by:

Welcome to Canada

OnDeck announced today that it has entered into an agreement to merge its Toronto-based Canadian business with Evolocity Financial Group (Evolocity), an online small business funder headquartered in Montreal. OnDeck will have majority ownership of Evolocity and the combined entity will be rebranded as OnDeck Canada. “The combination of OnDeck’s Canadian operations with Evolocity will […]

View Post

Popular Business-Lending Marketplace Dealstruck Restructures

December 3, 2018
Article by:

dealstruck logo

CEO Addresses Rumors that Dealstruck Shut Down VALLEY STREAM, N.Y., Dec. 3, 2018 — Innovative online business-lending marketplace Dealstruck.com (which has been featured in CNBC, The New York Times, Forbes and many other publications) has reorganized. A private investment group of fintech experts acquired the company. “This acquisition represents a significant strategic opportunity for our […]

View Post

What We Learned About Credibly From Credibly’s Securitization

November 29, 2018
Article by:

mca vs loans credibly

Today, Credibly CEO Ryan Rosett told deBanked that the company’s October securitization will be used, in part, to roll out its new Market Expansion Product (MXP), which will allow Credibly to service merchants with FICO scores as low as 500 and those that have been in business for less time. “We believe the MXP will […]

View Post

Patriot Bank Expands SBA Lending

November 28, 2018
Article by:

SBA Loans

Connecticut-based Patriot Bank announced today the overall expansion of its small business lending operation. At the beginning of the month, it added to it board of directors Brent Ciurlino, a former SBA official who served as Director of the Office of Credit Risk Management for the SBA. There, he supervised the $105 billion SBA 7(a) […]

View Post

IOU Partners with FINSYNC to Fuel Growth

November 27, 2018
Article by:

IOU Financial Website

Montreal-based IOU Financial announced yesterday that it is partnering with FINSYNC in an effort to improve their customers’ experience and broaden access to new customers. FINSYNC is a cash flow management software and platform that allows businesses to collect income, pay bills, process payroll, automate accounting, and access financing through FINSYNC’s Lending Network. “FINSYNC’s innovative […]

View Post

SBA Loans Increase Slightly in 2018

November 26, 2018
Article by:

SBA Loans

SBA total loan volume exceeded $30 billion with more than 72,000 approved loans for FY18 (October 1, 2017 through September 30, 2018), according to the SBA. The total volume is about the same as last year and there were approximately 4,000 more SBA loans issued this year compared to FY17. Of the 72,000 SBA loans […]

View Post

Study Shows Small Business Loan Demand Highest Since 2012

November 26, 2018
Article by:

Main Street Brick

A study released today reveals that American small businesses are eager to take business loans, with 48% planning to take out a loan in the next year, the highest level of demand since 2012. The study, called “Gimme Credit: Faster, Simpler, Safer Credit Main Street America,” was conducted by PayNet, which provides small business credit […]

View Post

Selling a Home, Selling Commercial Financing – What’s the Difference?

November 16, 2018
Article by:

Realtor Showing New House To Loving Couple

Alternative funding brokers come from all different backgrounds, but for many them, being a broker is not their first job in sales. Some sold equipment, some sold cars and others sold homes. They were realtors. deBanked found two alternative funding brokers with a background in residential real estate and we asked them to compare the […]

View Post

Dan DeMeo is Back in Action… at Lendr

November 15, 2018
Article by:

dandemeo

Daniel DeMeo has been hired as Chief Revenue Officer by the Chicago-based funder, Lendr. DeMeo has been working as an independent consultant for the last two years, according to LinkedIn. Prior to that he was the CEO of CAN Capital, a company he had dedicated himself to for nearly seven years until an internal account […]

View Post