Business Lending

Square Capital Loaned $405 Million in Q3

November 8, 2018
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Outside the Square Headquarters in San Francisco

Square Capital originated more than 62,000 business loans for a total of $405M in Q3, up from $390M in the previous quarter, according to the company’s latest earnings report. By contrast, OnDeck, a Square Capital competitor, reported loan originations of $648M for the quarter. Both companies find themselves facing new competition from a growing field […]

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Cerebro Capital’s Trick? Automating Compliance in a Loan Marketplace

October 29, 2018
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Cerebro Capital

Cerebro Capital CEO Matthew Bjonerud spoke to deBanked last week at Money 2020 in Las Vegas. He was standing at his booth in the “Startup” section of the conference’s Expo Hall. Bjonerud and his team have created a marketplace for middle market loans, from $1 million to $100 million. And Bjonerud said that borrowers can […]

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Breslow Shows What a Fintech/Bank Partnership Looks Like

October 24, 2018
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Noah Breslow CEO OnDeck (center) at Money2020

In the wake of OnDeck’s announcement of ODX, a new subsidiary that will service banks, OnDeck CEO and Money 20/20 veteran Noah Breslow took to the stage for a discussion with his new business partner, Lakhbir Lamba, Head of Retail Lending at PNC Bank. PNC will now be using ODX to originate lines of credit […]

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Is Small Business Lending Stuck in the Friend Zone?

October 23, 2018
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Friend Zone

This story appeared in deBanked’s Sept/Oct 2018 magazine issue. To receive copies in print, SUBSCRIBE FREESmall-business owners have lots of places to go for capital, and the alternative small-business funding industry doesn’t exactly top the list, recent research shows. In fact, entrepreneurs claim they’re more than four times as likely to receive funding from a […]

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PayPal is Changing Its Ways, Embracing Main Street

October 23, 2018
Article by:

Bill Ready

PayPal Chief Operating Officer Bill Ready shared his childhood experience of working for his parents’ auto repair shop to convey his understanding of the challenges that face  small businesses. “Tech has gotten faster, but money has gotten slower,” he said, referring to how small businesses, like his parents’, used to receive most of its money […]

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OnDeck (ODX) Adds PNC Bank as Second Bank Client

October 22, 2018
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pnc bank

PNC Bank announced today that in 2019 it plans to offer fully digital business lines of credit by using OnDeck’s Platform-as-a-Service solution, ODX, a new subsidiary of the online lender. Last week, OnDeck announced the creation of ODX, which is an OnDeck subsidiary that will focus soleIy on helping banks become faster, more efficient online […]

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GOING NATIONAL: How David Gilbert Built One of the Largest Small Business Lenders in the Country

October 17, 2018
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David Gilbert, CEO Of National Funding on the Cover of deBanked's Sept/Oct 2018 Issue

This story appeared in deBanked’s Sept/Oct 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE When Ty Austin, who owns a florist shop in West Palm Beach, secured a $5,000 loan from National Funding last year, he was happy to have working capital and could build inventory for mini-gardens and landscaping, The experience, moreover, […]

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NYIC – IFA Northeast – AFBA – deBanked Conference Recap

October 17, 2018
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NYIC Event Panel - Arno Ristorante

Panel from left to right: Lindsey Rohan, Platinum Rapid Funding Group & the AFBA | Chris Murray, Stein Adler Dabah & Zelkowitz LLP | Robert Zadek, Buchalter | Richard Simon, Mandelbaum Salsburg Yesterday, the New York Institute of Credit (NYIC) hosted a conference in Manhattan with attendees from several segments of the commercial finance industry, […]

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Lendio Surpasses $1 Billion in Originations

October 16, 2018
Article by:

Lendio founders

Lendio announced today that it has facilitated $1 billion in financing to more than 51,000 small businesses across the U.S. since it was founded 2011. It reached the $500 million mark just a little over a year ago in July 2017. “We are a  marketplace, not a lender, which means we can help a lot […]

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OnDeck Launches New Subsidiary

October 16, 2018
Article by:

Noah Breslow, Brian Geary, ODX

OnDeck announced today that it has created a new subsidiary, called ODX, which will help banks become more efficient online lenders. OnDeck’s CEO Noah Breslow told deBanked that ODX is an expansion of OnDeck’s successful partnership with JPMorgan, which started in 2016. “We created what at the time was I think a pretty groundbreaking partnership […]

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