Business Lending

A Side-By-Side Look At Small Business Funding Securitization Pools

September 6, 2019
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Several small business funding companies have closed majored securitization deals since 2018 with Kroll Bond Rating Agency rating the transactions. For the most recent transaction with National Funding, Kroll compared each securitized pool side-by-side in a chart. An abbreviated version of it is below: NFAS 2019-1 (National Funding) RFS 2018-1 (Rapid Finance) CRDBL 2018-1 (Credibly) […]

Snapshot On Australia: Growth In The Making

August 30, 2019
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This story appeared in deBanked’s Jul/Aug 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE The Australian alternative lending market continues to gain momentum, bolstered in part by increased awareness, heightened competition and growing dissatisfaction with the status quo. Indeed, there’s been significant growth in the few years since deBanked first wrote about the […]

Outside the Box: Idea Financial’s Unusual Path to Alternative Finance

August 28, 2019
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From left: CEO Justin Leto, President Larry Bassuk, COO Michael Zevallos How many lawyers does it take to start up an alternative finance company? Two, according to Idea Financial’s Co-founders, Justin Leto and Larry Bassuk. Idea, a Miami-based company which offers lines of credit to SMB owners, is the product of Leto and Bassuk’s partnership […]

IOU Financial Originates $38.5M in Q2

August 26, 2019
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IOU Financial originated $38.5M in loans in Q2, up from $32.8M the quarter before. The company said that the figure was actually a 31.8% increase over Q2 2018. In a press release, IOU CEO Phil Marleau said, “IOU delivered strong loan origination and revenue growth in the second quarter of 2019 and continued to post […]

Calls For Oversight As SBA Loans Go To Wall Street, Investor Funds, And High End Businesses In Beverly Hills

August 20, 2019
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rich and famous

In a report released this month by OpenTheBooks.com, a non-partisan non-profit organization, outlined how and who the SBA had guaranteed loans for in the years between 2014 and 2018. Covering various forms of funding, ranging from 7(a)s to 504s to surety bond guarantees, the report details a number of different types of businesses as well as […]

Enova’s Small Business Division Garner’s Limelight in Q2

August 16, 2019
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enova

Late last month, Enova released its second quarter report for 2019. Generally bearing positive news, the report asserts that the company is in a good position due to increasing demand, growth in various areas, and reductions in financing costs. Total revenue is up from Q2 2018, rising 13% from $253 million to $286 million, just […]

The 2019 Top Small Business Funders By Revenue

August 14, 2019
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2018 revenue rankings

The below chart ranks several companies in the non-bank small business financing space by revenue over the last 5 years. The data is primarily drawn from reports submitted to the Inc. 5000 list, public earnings statements, or published media reports. It is not comprehensive. Companies for which no data is publicly available are excluded. Want […]

Funding Circle Originated $377M of US Loans in First Two Quarters of 2019

August 8, 2019
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Funding Circle Logo

Funding Circle originated $377M of loans in the US in the first six months of 2019, according to their latest public report. The company said that “growth was proactively controlled” and that they tightened higher risk band lending and increased prices. They’ve now loaned more than $2B cumulatively in the US since inception and their […]

Funding Circle Co-Founder & Managing Director James Meekings to Step Down

August 8, 2019
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funding circle co-founder james meekings

Funding Circle’s lackluster business performance has led to a casualty. Co-founder James Meekings, who serves as Managing Director of the UK Business (the company’s primary market), will be transitioning to a non-executive role on the UK board in Q3. He will no longer be MD, the company announced. Lisa Jacobs, Funding Circle’s Chief Strategy Officer, […]

Michele Romanow on Clearbanc’s Recent $300M Series B

August 7, 2019
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Michele-RomanowPic

Last week Clearbanc announced it had secured $300 million in a Series B. Specializing in the provision of capital to business owners for the purchasing of ads on digital platforms such as Facebook and Instagram, the company operates in an untapped niche. Alternative financing for the acquirement of a highly specific product, this product being the […]

Square Capital Originated $528M in Loans in Q2

August 5, 2019
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Square in San Francisco

Square Capital facilitated 78,000 loans for $528M last quarter, according to their recent earnings report, an increase of 36% year-over-year. Thr growth is the exact percentage increase experienced by rival Shopify. Square says that they continued to see an average loss rate of less than 4% for their core Flex Loan product. deBanked ranked Square […]

Shopify Issued $93M in MCAs and Loans in Q2, Has Begun Offering Funding to Non-Shopify Payment Customers

August 4, 2019
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shopify glyph

Shopify, a publicly traded e-commerce platform, is quickly growing its merchant cash advance and loan originations through its Shopify Capital brand. The company issued $93M in Q2, up 36% year-over-year and an increase from the prior quarter of $5.2M. Shopify’s loan product is only available in Arizona, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, North […]

Import/Export SMBs Introduced to Fintech Lending Options

August 2, 2019
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Early this week TangoTrade announced its partnership with the online lender Fundation. TangoTrade, which deals primarily in payment assurances for US small business importers and exporters, will now offer alternative financing to SMBs with the help of Fundation. The development is a reaction to the struggles faced by small businesses who engage in global trade. Sam […]

Spotlight on deBanked CONNECT Toronto

July 30, 2019
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deBanked CONNECT Toronto

As the heat of the Toronto sun split the stones outside, the crowd inside the Omni King Edward’s seventeenth-floor Crystal Ballroom mingled and munched as part of deBanked’s most recent CONNECT event. The first of its kind to be held in Toronto, the CONNECT series are half-day events that take place in both San Diego […]

California DBO Making Progress On Finalizing Rules Required By The New Disclosure Law

July 29, 2019
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Senator Glazer California

Last October, California Governor Jerry Brown signed a new commercial finance disclosure bill into law. The bill, SB 1235, was a major source of debate in 2018 because of its tricky language to pressure factors and merchant cash advance providers into stating an Annual Percentage Rate on contracts with California businesses. The final version of […]

Chase Ends Partnership With OnDeck, OnDeck Stock Tanks On Bucket of Mixed News

July 29, 2019
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OnDeck NYSE

The market didn’t take too kindly to OnDeck’s Q2 earnings announcement on Monday. The stock price set a new all time intraday low of $3.01, down 24% from Friday’s close. First, JPM Chase ended their partnership with OnDeck, the company said, bringing a 3-year relationship to a close. “We can’t speak for Chase and their […]

PayPal Begins Offering Business Loans in Canada

July 28, 2019
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PayPal LoanBuilder

PayPal has extended its popular working capital business loan program to Canada, according to company CEO Dan Schulman. “This quarter, we began offering our PayPal business loan product to PayPal merchants in Canada, allowing them to access financing to build and sustain their businesses,” he said during the Q2 conference call. “This follows the expansion […]

deBanked CONNECT Toronto Photos

July 27, 2019
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deBanked CONNECT Toronto on Stage

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Become: The Who, What, and Why of a Rebrand

July 23, 2019
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become logo

Last week Lending Express rebranded to Become. Founded in 2016, the company, which educates businesses looking for loans on how to appear more attractive to funders, was spearheaded by CEO Eden Amirav in Australia originally, with an eventual expansion to the US. Three years in, the company has over 50 lending partners across its two markets, a […]

Breakout Capital is BACK

July 17, 2019
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Breakout Capita

Above: Breakout Capital Finance founder Carl Fairbank shakes hands with SecurCapital CEO Steve Russell SecurCapital Corp has acquired the lending business of Breakout Capital Finance. Breakout was founded in 2015 by Carl Fairbank, a former investment banker, and quickly made a splash in the burgeoning small business lending industry. The company has raised significant capital […]