Business Lending

Broker Fair 2019 Makes Major Splash in the Heart of Manhattan

May 10, 2019
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If a tiny ray of light were created from every conversation about small business financing, then the Roosevelt Hotel in midtown Manhattan would have been tantamount to the sun on May 6th. It was the site of deBanked’s 2nd annual Broker Fair and the grand old lobby was abuzz with brokers, funders and vendors from […]

Broker Fair 2019 Photos

May 10, 2019
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If you share any of these on social media, please remember to include #brokerfair Enjoy!

Amazon Now Among The Top Online Small Business Lenders in The United States

May 8, 2019
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Amazon has joined PayPal, OnDeck, Kabbage, and Square as being among the largest online small business lenders. On Tuesday, Amazon revealed that it had made more than $1 billion in small business loans to US-based merchants in 2018. Amazon says the capital is used to build inventory and support their Amazon stores. By selling on […]

OnDeck Slips To #3 in Tight Pack of Top Small Business Lenders

May 3, 2019
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With most 2019 Q1 earnings in for public companies, the industry’s biggest lenders are off to the races. Square reported on Wednesday that Square Capital, its business lending arm, originated $508 million in loans in the first quarter of the year. Meanwhile, OnDeck originated $636 million this quarter, according to its earnings report released yesterday. […]

OnDeck Originations Slide in First Quarter

May 2, 2019
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OnDeck

OnDeck’s originations dipped in the first quarter of this year to $636 million, down from $658 million in the previous quarter. “We made some adjustments to credit policy mid-quarter to pull back in certain areas and our funding advisor channel volume decreased sequentially as a result,” said OnDeck CEO Noah Breslow. In other words, OnDeck […]

Square Originated $508M in Business Loans in Q1

May 1, 2019
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squarepos

Square Capital, Square’s business lending arm, originated 70,000 small business loans for a total of $508 million last quarter, according to their recent earnings report. As a payments company first, Square processed $22.6 billion in gross payment volume in Q1 and generated a net loss of $38 million on $959 million in revenue.

So God Made a Farmer, But Who’s Financing The Farms?

May 1, 2019
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tractor farm

This story appeared in deBanked’s Mar/Apr 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Most mornings, farmers and ranchers wake up worrying about uncooperative weather and volatile commodity prices. Just the same, they pull themselves out of bed to spend the morning tinkering with crotchety machinery or wrangling uncooperative livestock. When they break […]

Has PayPal Eclipsed OnDeck in Small Business Loans?

April 26, 2019
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Will Fintech Dethrone Banking?

It’s been said that Kabbage is on pace to surpass OnDeck in small business loan originations, but PayPal has already done it. When PayPal announced a working capital program in the Fall of 2013, few were predicting that the initiative would propel them to the top of the small business lending charts. Just two years […]

< 5% Annual Returns On Small Business Loans?

April 25, 2019
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yield?

If you were to invest in small business loans with 4-year terms, what kind of return would you hope to get? Retail investors that put their money in a mix of high-risk and low-risk loans on Funding Circle’s UK platform should expect to achieve a return of 4.5% to 6.5% a year (after defaults and […]

Lending Club Calls It Quits On Underwriting Small Business Loans

April 23, 2019
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Scott Sanborn, Lending Club CEO

The company is the latest fintech player to exit small business lending. Lending Club will no longer be underwriting small business loans, according to Lending Club Head of Communication VP Anuj Nayar. The company will still accept applications for them, but will direct them instead to Opportunity Fund and Funding Circle in exchange for referral […]

More Than Half of Small Businesses Seek Less Than $100,000 in Financing

April 22, 2019
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financing sought

Small businesses need capital in small doses. That’s a takeaway of the latest study published by the Federal Reserve that revealed 57% of employer firms (with less than 500 employees) that applied for financing in 2018, sought $100,000 or less. 20% sought less than $25,000. 56% of all financing applicants said they applied in order […]

When Merchants Defraud Lenders

April 17, 2019
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online fraud

Back when lenders used to visit the site of a merchant’s business, a “doctor” once hired actors to play nurses and patients to give the illusion of a thriving medical practice when the lender came to check in on the business before financing it. The doctor’s office looked legitimate, it got funded and the fraudster […]

Online Loans You Can Take To The Bank

April 16, 2019
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Loans you can take to the bank

This story appeared in deBanked’s Mar/Apr 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE OnDeck, the reigning king of small business lending among U.S. financial technology companies, is sharpening its business strategies. Among its new initiatives: the company is launching an equipment-finance product this year, targeting loans of $5,000 to $100,000 with two-to-five […]

Learn From Josh Feinberg and Will Murphy in Person at Broker Fair

April 16, 2019
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Josh Will Everlasting Capital

You’ve seen them on social media. Now you can see them in person. Josh Feinberg and Will Murphy of Everlasting Capital will be doing a joint presentation on how to scale your broker shop at Broker Fair on May 6th at The Roosevelt Hotel in New York City. Limited tickets are still available. Register now […]

OnDeck Takes Advantage of New Same-Day ACH Technology

April 12, 2019
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OnDeck NYSE

Same-day ACH is here, thanks to NACHA’s planned upgrade, and OnDeck, a small business lender, has already incorporated it into its platform. Shaleen Prakash, OnDeck’s Vice-President of Product Management, told deBanked: “We are hyper-focused to get customers faster access to funding that’s already been approved for them.” Small business owners can now access up to […]

Online Lenders Square Off, Offer The Kabbage In Brooklyn Food Court

April 10, 2019
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square pos

In a fast gentrifying section of Downtown Brooklyn, online lenders are waging a silent turf war. Each day, hungry consumers flock to DeKalb Market, a subterranean hipster food court where lunch and a drink can cost $17. The maze-like space with retro neon signs and rustic wood countertops offers a dizzying array of cuisines, and […]

Kabbage Could Be Neck and Neck with OnDeck for Originations This Year

April 8, 2019
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OnDeck Square Kabbage

Kabbage funded $600 million in the first quarter of the year, putting it on pace to potentially overtake OnDeck in originations for 2019. OnDeck reported $658 million in originations just a quarter earlier to finish 2018. The two companies have been among the top three funders by origination volume on deBanked’s leaderboard since 2014. OnDeck […]

Funding Circle SME Income Fund to Consider Winding Down

April 6, 2019
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news pad

The Funding Circle SME Income Fund (FCIF), a fund whose objective is to provide shareholders with a sustainable and attractive level of dividend income by lending, both directly and indirectly, to small businesses through Funding Circle’s platform, may soon be winding down. Earlier this week, the fund’s major shareholders expressed a desire to withdraw their […]

Indicted Loan Brokers Out On Bond, 1 Still in Custody

April 5, 2019
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in handcuffs

Four of the five loan brokers indicted in a fake business loan scam that tricked an Ohio resident out of hundreds of thousands of dollars in upfront fees, have been released on bond. Only one, a defendant by the name of Haki Toplica, remains in custody. All of the defendants have entered pleas of not […]

Online Lender Offering “Incredible” Returns to Investors is Recording Massive Losses

March 29, 2019
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tanks

StreetShares continues to rack up astronomical losses, according to the company’s recently filed unaudited financial statements. The company recorded a $6.4 million loss for the second half of 2018 on only $1.88 million in operating revenue. As in previous periods, payroll continues to be the largest expense. StreetShares’ funding comes in part from mom & […]