Industry News

Trial of Debt Settlement Mastermind Sergiy Bezrukov Postponed

December 13, 2018
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Scammer of Salamanca

The trial of debt settlement mastermind Sergiy Bezrukov has been postponed until January 14, court records indicate. The trial was supposed to begin on Dec 17 but a possible scheduling conflict with another complex trial taking place in Buffalo right now may be the reason for delay. Bezrukov is charged with conspiracy to defraud, mail […]

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Cross River Bank Raises $100 Million

December 11, 2018
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Cross River Bank

Cross River Bank, which provides banking services to fintech companies, announced last week the completion of a funding round of roughly $100 million. This was comprised of a $75 million equity investment from KKR, along with capital from Andreessen Horowitz, Battery Ventures, Rabbit Capital, and funding from new investors CredEase and Lion Tree. This adds […]

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Finitive Appoints Neil Wolfson to Board

December 10, 2018
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Neil Wolfson

Finitive announced today that it has appointed Neil Wolfson to its Board of Directors. Wolfson also serves on the Board of Directors at OnDeck. “Finitive has established an innovative platform to provide institutional investors with direct access to alternative lending investments,” said Wolfson. “Finitive’s platform brings further transparency to this asset class.” According to an […]

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OnDeck Expands Canadian Business with Merger

December 5, 2018
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Welcome to Canada

OnDeck announced today that it has entered into an agreement to merge its Toronto-based Canadian business with Evolocity Financial Group (Evolocity), an online small business funder headquartered in Montreal. OnDeck will have majority ownership of Evolocity and the combined entity will be rebranded as OnDeck Canada. “The combination of OnDeck’s Canadian operations with Evolocity will […]

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What We Learned About Credibly From Credibly’s Securitization

November 29, 2018
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mca vs loans credibly

Today, Credibly CEO Ryan Rosett told deBanked that the company’s October securitization will be used, in part, to roll out its new Market Expansion Product (MXP), which will allow Credibly to service merchants with FICO scores as low as 500 and those that have been in business for less time. “We believe the MXP will […]

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BFS Capital Announces New CEO

November 28, 2018
Article by:

Ruddock

BFS Capital announced today that it has appointed Mark Ruddock as CEO, effective immediately. Co-founder Marc Glazer, who has served as interim CEO since the departure of Michael Marrache earlier this year, will be Chairman. “I sense there is tremendous potential in this firm,” Ruddock told deBanked. “It has in its DNA an innate understanding […]

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Elevate Funding Strengthens Compliance and Monitor Abilities

November 21, 2018
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news pad

Yesterday, Elevate Funding announced that it would be using the PerformLine Platform to enhance its compliance and email monitoring abilities. “Terminology is very important in this industry,” said Elevate Funding CEO Heather Francis. Francis said that much of Elevate’s decision to use PerformLine is to make sure that the correct terms are being used so […]

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Bankers Healthcare Group Expands Beyond Healthcare

November 20, 2018
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SBA Loans

Bankers Healthcare Group (BHG), which provides financing solutions to healthcare professionals, announced at the end of last week that it is expanding into small business lending with a new license to offer SBA loans through its wholly-owned subsidiary, FundEx Solutions Group. Fundex is now one of only 14 non-bank lenders in the country that offers […]

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Happy Thanksgiving

November 19, 2018
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happy thanksgiving

Check out our previous Thanksgiving day posts A deBanked Thanksgiving 2017 A deBanked Thanksgiving 2016 A deBanked Thanksgiving 2012

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Largest MCA Deal in History Suffers Multiple Closures

November 17, 2018
Article by:

Momentum Auto Group

Above: Momentum Auto Group’s signature location as displayed in their facebook video commercial The $40 million merchant cash advance deal, a conglomerate of auto dealerships in California, that was facilitated by 1st Global Capital, hit an obstacle last week when six locations shut their doors without notice. deBanked had not previously revealed the name, but […]

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