Industry News

Ascentium Capital Surpasses $4 Billion in Originations

April 18, 2018
Article by:

Tom Depping

Texas-based lender Ascentium Capital announced last week that it had surpassed $4 billion in origination volume since the company was founded in 2011. The company has two key channels of business. The vendor channel, in which Ascentium creates custom finance programs for clients like equipment manufacturers, distributors and resellers. It calls these clients its “vendor […]

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CAN Capital Hires New CFO

April 17, 2018
Article by:

TomDavidson

CAN Capital has just hired Tom Davidson, a finance veteran, to become its new CFO. Davidson joins CAN Capital from Sierra Auto Finance where he was Chief Financial Officer and Chief Capital Officer. Before that, he worked at GE Capital for 16 years, eventually becoming Chairman and CEO of GE Capital Markets, Inc. “Given that […]

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Kabbage to Acquire Orchard Platform Markets

April 14, 2018
Article by:

Kabbage Booth, Lendit

Kabbage is set to acquire Orchard Platform Markets, a provider of lending data and investment advisory services, according to a Bloomberg report yesterday. However, neither company has confirmed this and both companies were unreachable today.    Orchard was founded in 2013 by David Snitkof, Angela Ceresnie, Jonathan Kelfer, Matt Burton and Phil Rosen. Burton and […]

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World Business Lenders Responds to the New York Post Story

April 13, 2018
Article by:

World Business Lenders Ribbon Cutting Jersey City

Above, company CEO Doug Naidus poses alongside state and local community leaders for World Business Lenders’ ceremonial Jersey City grand opening ribbon cutting in July 2016 A controversial story published in the New York Post earlier this week about World Business Lenders has drawn a response from the company. The text below was circulated by […]

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The March/April 2018 Edition Has Shipped

April 13, 2018
Article by:

March April Cover 2018

The March/April 2018 edition of deBanked Magazine has shipped! The print version is distributed before all of the content is republished online so if you want to be one of the first to read our exclusive stories, make sure you’re subscribed. It’s FREE. This issue, which will also be distributed at Broker Fair on May […]

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Lendio’s New Turndown Program Grows

April 11, 2018
Article by:

Brock Blake Headshot

Lendio, the marketplace for borrowers and lenders, announced on Monday that its Turndown program has facilitated nearly $60 million in loans in less than a year since its launch last summer. The Lendio Turndown program allows participating lenders to refer borrowers to the Lendio marketplace that have been declined. “Instead of just saying ‘No’ to […]

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Best Egg Exceeds $5 Billion in Loans

April 11, 2018
Article by:

Jeffrey Meiler

Now four years old, the consumer-lending platform Best Egg has delivered more than $5 billion in personal loans. The Wilmington, DE-based lender does not offer business loans. However, Best Egg CEO Jeffrey Meiler told deBanked that they are increasingly making loans to people who are self-employed. “Structurally, one of the things that has really been […]

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LendItFintech In Photos and Sound Bites

April 10, 2018
Article by:

LendItFintech Co-founders

LendItFintech co-founders Peter Renton, Bo Brustkern, and Jason Jones kick off the 6th annual event “Bad credit is literally killing us” – Scott Sanborn, CEO, Lending Club when speaking about the increase in mortality rate for people who have faced major financial distress A disruptive business is not just about speeding something up – Jay […]

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Lendr Launches New Business Debit Card

April 9, 2018
Article by:

Lendr at LendItFintech

Chicago-based Lendr is launching a new business debit card program, according to an announcement the company made at LenditFintech. This will give them the ability to fund business owners in real-time via an instant access virtual Mastercard followed up with a traditional plastic card. This system is different than pushing funds to a merchant’s existing […]

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Ocrolus Announces $4 Million Investment at LendItFintech Conference

April 9, 2018
Article by:

Sam Bobley

Sam Bobley, CEO Ocrolus, which provides analysis of financial documents, announced today a $4 million Series A investment led by Bullpen Capital with participation from QED Investors, Laconia Capital Group, ValueStream Ventures and RiverPark Ventures. The company says that its lean RegTech technology analyzes bank statements and other financial documents with over 99 percent accuracy. […]

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