Business Lending

Spotlight on deBanked CONNECT Toronto

July 30, 2019
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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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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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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 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

REGISTER NOW FOR THE NEXT DEBANKED EVENT IN A CITY NEAR YOU

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

July 23, 2019
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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 […]

Key Takeaways from the Q2 2019 Private Capital Access Index

July 17, 2019
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The latest Private Capital Access Index, published quarterly by Pepperdine Graziado Business School, was released recently, and with it came fresh insights into the minds of business owners. Covering companies that earn under $5 million in revenue annually, as well as those that raise between $5-100 million, the Index provides information on a wide range […]

Online Lenders Beat Credit Unions, Friends, and Family as Primary Source of Credit

July 14, 2019
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7% of small businesses generating less than $5 million/year in revenue relied on online lenders as their primary source of credit in the last quarter, according to the latest Private Capital Access Index published by Pepperdine Graziado Business School. 3% relied on credit unions as their primary source and 6% relied on friends and family. […]

OnDeck Canada, Credit Union Announce Partnership

July 11, 2019
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OnDeck

Today sees the partnership of OnDeck Canada and Coast Capital Savings, the first collaboration of its kind in Canada, being between an online lending company and a federal credit union. Beginning this month, small business members of Coast Capital will be able to apply for term loan financing from OnDeck Canada of up to CAD$250,000 online, […]

“You’re Not an Entrepreneur Until…”: How IOU Financial Worked its Way Out of ’08

July 9, 2019
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IOU Financial Website

“It makes you feel old, but I don’t feel that old,” is how Robert Gloer, President and COO of IOU Financial, describes what it’s like to have been in finance since the early nineties. With his career predating social media and the explosion of tech in the workplace that has marked the previous two decades, Gloer […]

Making it Work: CanaCap and the Case for Canada

July 5, 2019
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Canadian Flag

What leads an alternative financer to establish their own business in Canada? For Evan Marmott and his partner Adam Benaroch, it was the level of opportunity that the country offered in comparison to United States, where the alternative funding industry had become bloated and saturated with funders and brokers alike by 2017, when the pair […]

Merchant Advance Capital Rebrands to Merchant Growth

July 3, 2019
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Merchant Growth website

Merchant Advance Capital, which trumpets itself as Canada’s fastest and most transparent small business financier, is rebranding as Merchant Growth. The company has offices in Vancouver, BC and Toronto, ON and was founded in 2009. “I founded our company out of my apartment 10 years ago,” David Gens is quoted as saying in a company […]

2M7 Financial Solutions and the State of Alternative Funding in Canada

July 1, 2019
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Canada Finance

“What’s a cash advance?” This is how Avi Bernstein, CEO of 2M7 Financial Solutions, recalled a typical conversation in 2008, when his company was founded in the Canadian market. According to him, customer knowledge of alternative financing methods was dismal, partly due to a handful of homogenous banks dominating the scene as well as a […]

“Do It Better Than How You Learned It”: How Paul Pitcher Came To Be In Canada

June 27, 2019
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Paul Pitcher

Few kids who dream of running their own international business actually grow up to live that fantasy. Even fewer end up working alongside their childhood heroes. Paul Pitcher is doing both, and he’s loving every minute of it. Growing up in Annapolis, Maryland, the Managing Partner at First Down Funding and SharpShooter Funding studied at […]

WATCH CAPITOL HILL HEARING LIVE: Crushed by Confessions of Judgement: The Small Business Story

June 26, 2019
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us capitol

The House Committee on Small Business will meet for a hearing titled, “Crushed by Confessions of Judgement: The Small Business Story” today at 11:30am. This hearing is intended to bolster support for The Small Business Lending Fairness Act, a bill to outlaw COJs in small business loans and merchant cash advances nationwide. (Read more about […]

As New Regulations Sweep The Industry, Find Out Where The Next Big Opportunities Are

June 25, 2019
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what's next

Change is coming to the small business finance industry. Are new opportunities on the horizon? Be sure to find out when you attend one or both of these two great upcoming events! deBanked CONNECT Toronto | July 25, 2019 Less Than 30 Days Left! Tap into the vast opportunities in Canada. Meet the players, learn […]

Federal Lawmakers Not Convinced NY Confession of Judgment Ban is Enough

June 25, 2019
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US Capitol

The recent New York State law that effectively ended the era of Confessions of Judgment in the small business finance industry is apparently not enough to satiate the outrage of some federal lawmakers. This morning, Rep. Nydia M. Velázquez (D-NY) and Rep. Roger Marshall (R-KS) introduced the “Small Business Lending Fairness Act” that would outlaw […]

It’s Official, The Confession of Judgment Era is Over

June 19, 2019
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The New York State legislature passed a bill (S06395) late Thursday night that effectively eliminates Confessions of Judgment (COJ) in the small business finance industry. The Senate voted in favor 61-1. The Assembly voted in favor 83-43. The new law which goes into effect immediately after Governor Andrew Cuomo signs it, prohibits anyone from filing […]

Michele Romanow to Keynote deBanked CONNECT Toronto

June 18, 2019
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romanow

Michele Romanow, a TV star on Dragon’s Den and Co-founder of Clearbanc, will be the keynote speaker at deBanked CONNECT Toronto on July 25th. She joins other industry executives speaking at the event from across the business finance industry in Canada. Tech titan Michele Romanow is an engineer and a serial entrepreneur who started five […]