Meet at the 2018 Financial Services Conference
April 22, 2018
I will be attending the 2018 Financial Services conference by CounselorLibrary and Hudson Cook, LLP on Monday, April 23rd in Baltimore, MD. deBanked is a sponsor of the event. If you would like to meet, please email me at sean@debanked.com. April 23rd is a Special One-Day Program with Merchant Cash Advance and Small Business Lending […]
View PostWayward Merchants
April 19, 2018
This story appeared in deBanked’s Mar/Apr 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE Wayward merchants and outright criminals are continuing to bilk the alternative small-business funding industry out of cash at a dizzying pace. In fact, an estimated 23 percent of the problematic clients that funders reported to an industry database in […]
View PostLendr Launches New Business Debit Card
April 9, 2018
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 […]
Funding a Deal Near the Holidays?
March 30, 2018
With the Easter / Passover holidays upon us, deBanked wondered if closing deals is easier or harder during this period. Josh Feinberg, founder of Everlasting Capital, a funding company, told deBanked that he thinks it’s easier to close a deal in the two weeks before a major holiday. Why? Because he said that merchants are […]
Pearl Beta Funding Decision a Boon to MCAs, as Long as They’re True to Their True-ups
March 26, 2018
While the recent Champion Auto Sales, LLC et al. v Pearl Beta Funding, LLC decision was a win for MCA companies because it determined at the appellate level that an MCA contract issued by Pearl Beta Funding to Champion Auto Sales “was not a usurious transaction,” many lawyers are saying that, more than anything, this […]
SBFA Braved Snow Storm for Spring Fly-In
March 23, 2018
The Small Business Finance Association (SBFA) had their Washington DC Spring fly-in earlier this week. SBFA members met with Karen Kerrigan, the President and CEO of the Small Business & Entrepreneurship Council, on Tuesday afternoon, and Congressman Josh Gottheimer (D-NJ) in the evening. Despite the blizzard, a handful of members continued to meet with members […]
Preliminary 2017 Small Business Financing Leaderboard
March 14, 2018
Thanks to several companies recently filing their annual earnings statements and Funding Circle this week disclosing their USA origination figures for 2017, we’ve been able to put together a preliminary leaderboard in the small business financing space. This list is not comprehensive and omits key players like PayPal Working Capital and Amazon Lending. Company Name […]
The Underwriters – How A Small Team Is Turning Underwriting Into Big Business
March 13, 2018
Above: Central Diligence Group’s partners A keen eye can spot a good deal. And for New York-based Central Diligence Group, an underwriting-focused company founded in 2015 by four partners, it has been a boon for business. The company has lately been providing its underwriting expertise to a wider variety of clients, including some outside the […]
Thinking Capital Acquired by Canadian Finance Firm Purpose Financial
March 12, 2018
Jeff Mitelman (left) and Som Seif (Right) Thinking Capital, a leader in the fintech lending industry in Canada, was acquired last week by Canadian finance company, Purpose Financial, based in Toronto. “Under the Purpose Financial umbrella, our time to market on product innovation and funding capacity will be greatly amplified,” said Jeff Mitelman, CEO and […]
Enova’s TBB Did $15M in Merchant Cash Advance Revenue in 2017
March 12, 2018
International online lending conglomerate, Enova, generated $843.7 million in revenue last year, according to their recent annual report. More than $15 million came from merchant cash advances (MCAs) made through The Business Backer (TBB), a small business financing company they acquired in 2015. That’s down from $18.6 million in MCA revenue generated in 2016. Though […]
