Business Lending

Why the Human Connection is Still Important in Debt Recovery

February 10, 2019
Article by:

The CEOs and lawyers for debt recovery companies, particularly those in the commercial space, say that speaking to merchants over the phone is the best way to collect money for their clients.  At New York-based Empire Recovery, Managing Attorney Steven Zakharyayev told deBanked that they call this “soft collection.” “Soft collection is probably the most […]

SBA Processes Significant Loan Volume in Days After the Shutdown

February 4, 2019
Article by:

After the longest partial government shutdown in U.S. history, which shuttered the Small Business Administration (SBA) for more than a month, SBA employees went back to work on Monday, January 28. At the end of the day on January 29, the SBA had processed 1,100 SBA 7(a) loans worth $500 million, according to Bailey Wolff, […]

Top Accounting Officer at StreetShares Resigns

January 31, 2019
Article by:

Jesse Cushman, who served as StreetShares’ Chief Business Officer and Principal Financial & Accounting Officer, has resigned, according to a Form 1-U filed with the SEC this week. His exit was made effective as of January 1, 2019. StreetShares president Michael Konson is currently filling the role in an interim capacity until a permanent successor […]

Fundbox Increases Speed of B2B Transactions

January 29, 2019
Article by:

Prashant Fuloria, COO, Fundbox At the end of last week, Fundbox announced that it has launched an AI-enabled platform for B2B companies at the point of transaction, or check out. “We’re positioning ourselves to be the PayPal for B2B transactions,” a company spokesperson, Tim Donovan, told deBanked. “And that means becoming as ubiquitous as finding […]

deBanked CONNECT Miami 2019 Photos

January 28, 2019
Article by:

deBanked CONNECT Miami 2019

Photos from the event are below Register For The Next Industry Event!

Funding Circle Partners with Stripe

January 23, 2019
Article by:

Bernardo Martinez

Funding Circle announced this morning that it has joined the Stripe Partner Program, which will allow the company to provide financing to Stripe customers in the United States. Funding Circle is a small business loan funder that offers fully amortizing small business term loans. Their loans range from $25,000 to $500,000 and have terms between […]

Small Business Funding is Blasting Off

January 18, 2019
Article by:

blasting off

Despite the pall of the record long partial government shutdown which has hurt brokers and funders of SBA loans, many companies and individuals in the online small business funding space are off to a very fruitful 2019. Below are some that we found. Amerifi After 15 years in the screen printing and embroidering business, Edward […]

Capify Secures Massive Credit Facility from Goldman Sachs

January 16, 2019
Article by:

David Goldin

Capify, which serves the UK and Australia markets, announced this morning that it has secured a £75 million (roughly $95 million) credit facility from Goldman Sachs. “This credit facility validates our company as a leader in the marketplace and underlines the strength of our business model to provide simple, affordable and smart financial options to […]

Why Strategic Funding Rebranded as Kapitus

January 15, 2019
Article by:

Kapitus Website

Today, Strategic Funding announced the launch of a new brand identity, including a name change. Strategic Funding will now be called Kapitus. “We had a name that was very well respected,” said Kapitus founder and CEO Andy Reiser. “Everybody loved our name, quite frankly. They loved it so much, they all copied it. You can’t […]

Kabbage Finances US Small Business Customers of Alibaba

January 14, 2019
Article by:

Alibaba

Kabbage announced today that it has partnered with Chinese e-commerce giant, Alibaba, to provide financing to small businesses that purchase materials on the platform. The financing program, offered by Alibaba and powered by Kabbage, is called Pay Later. “Financing at the point of sale requires a fully automated solution that can handle the immense volume […]

How an SBA Lender is Managing Through the Shutdown

January 10, 2019
Article by:

Everett Sands

Everett Sands, CEO, Lendistry As a result of the U.S. government shutdown that started on December 22 of last year, hundreds of thousands of government employees have been working without pay. The shutdown has also temporarily stopped the Small Business Administration (SBA), a government agency, from operating. This means that obtaining an SBA loan, which […]

Trained at OnDeck, LendingFront Founders Help Banks Lend to Small Businesses

January 9, 2019
Article by:

LendingFront-front

Yesterday LendingFront announced that it has raised $4 million to help deliver its white label software designed to help banks and other financial institutions lend to small businesses. The company was founded in 2015 by two former OnDeck employees, Jorge Sun and Dario Vergara. Sun was the Chief Credit Officer at OnDeck from 2007 to […]

How One Broker Moved from One-Man Home Office to 23 Person Shop

January 7, 2019
Article by:

Zach-Ramirez-office2

Zach Ramirez started the brokerage company ZR Consulting from his home in Orange County, CA in June 2018. He was generating leads and making phone calls, often in a hushed voice because he was also looking after his six month old daughter. “That was difficult, having a baby and with my life savings in the […]

For Some Brokers, Funding Never Sleeps

January 4, 2019
Article by:

Happy New Year

While holidays, including New Year’s Eve, are usually slow days for funding, for some brokers this year, New Year’s Eve was a strong day. “New Year’s Eve was not a slow day here,” said Elana Kemp, a broker at Fundomate, in Los Angeles, who was in the office that day. “It was amusing to see […]

What We Learned About RapidAdvance From RapidAdvance’s Planned Securitization

January 1, 2019
Article by:

rapidadvance

RapidAdvance is raising money through their first-ever securitization. This is what we’ve learned about the company as a result so far, thanks to the bond ratings process: 2017 origination volume: $260 million | See how this ranks against their peers Lifetime funding volume: > $1.5 billion Total shareholder equity: $54 million Majority owned by: Rockbridge […]

How a Computer Game Master Applied His Talents to Online Lending

December 28, 2018
Article by:

Warcraft 3

Eden Amirav is co-founder and CEO of Lending Express. The 29 year old spends his days trying to grow his company, an online lending platform for small businesses. But about 15 years ago, as a teenager in Israel, he spent his evenings and school breaks fighting orcs, defending construct units and mostly defeating enemies in […]

Newtek Hosted Uncommon Investor Call Yesterday

December 27, 2018
Article by:

Newtek website

Newtek Business Services Corp. (NASDAQ: NEWT) CEO Barry Sloane held a conference call at 8:30 a.m. EST yesterday morning to address investors. “This is somewhat of an unorthodox call, the day after Christmas,” Sloane said. “But given a lot of the events in the market with tremendous market nervousness, I wanted to speak to as […]

deBanked’s Most Popular Stories of 2018

December 22, 2018
Article by:

top stories

Five of the top 10 most read stories of 2018 were related to the saga of 1st Global Capital; The bankruptcy, SEC charges, the revelation that they had made a $40 million merchant cash advance, and finally the devastating news of that deal falling apart. We decided to lump all of them together in our […]

Less Than Perfect — New State Regulations

December 21, 2018
Article by:

rules and regulations

This story appeared in deBanked’s Nov/Dec 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE You could call California’s new disclosure law the “Son-in-Law Act.” It’s not what you’d hoped for—but it’ll have to do. That’s pretty much the reaction of many in the alternative lending community to the recently enacted legislation, known as […]

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 […]