For ISOs Only — How To Develop Your Factoring Brokerage Business (Part 1)

November 17, 2019
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Let me ask you a question; If you were walking down the street and saw a $100 bill on the sidewalk, would you stop and pick it up? Of course you would, unless you didn’t see it. Or would you say, “I’m in a hurry and it’s ONLY $100. I’ll make a lot more money […]

Clearbanc Offering Funding to Combat US-China Tariff Costs

November 16, 2019
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Clearbanc, the Toronto-based funding company co-founded by Dragons’ Den’s Michele Romanow, has announced this month that it will be expanding its funding options to support those small businesses who need assistance purchasing inventory from Chinese suppliers. Specializing in funding businesses who require capital for digital adverts, the Canadian firm decided to expand its offerings after […]

“Predatory Lenders” Slammed as Bill to Ban Confessions of Judgment Nationwide Advances

November 14, 2019
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Above: Rep Nydia Velázquez and Michael Bloomberg | Brooklyn, 2011(Bloomberg is majority owner of Bloomberg News parent Bloomberg LP) Rep. Nydia Velázquez (D) celebrated the advancement of a bill on Thursday that aims to outlaw confessions of judgment (COJs) in commercial finance transactions nationwide. HR 3490, dubbed the Small Business Lending Fairness Act, made its […]

Selecting a Third-Party Commercial Collection Agency

November 8, 2019
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It’s said that anyone can lend money out but the hard part is getting paid back. The latter part is full of nuance, a 32-page white paper authored by Minnesota-based Dedicated Commercial Recovery (Dedicated) reveals. “Choosing a third-party commercial collection agency is a matter of comparing potential returns and risks in order to achieve an […]

COJ Enforcer Gets COJ’d By City of New York And Is Forced to Resign NYC Marshal Position

November 7, 2019
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cojs

A New York City marshal at the center of a controversial Bloomberg News story series last year about “predatory lending,” has resigned after a city probe, the City of New York announced. Marshal Vadim Barbarovich was allegedly a prolific enforcer of New York judgments obtained by confession. After irregularities were discovered by the Department of […]

David Goldin is BACK – The Scoop Behind His Return

November 7, 2019
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David Goldin

“When I started, the term merchant cash advance didn’t even exist. There really were no business loans back then, the word ‘fintech’ didn’t exist, ‘alternative lender’ didn’t exist … Back in the day it was all about getting a credit facility, and that was like the iPhone 5, and now we’re the iPhone 11. There’s […]

Who Exactly Got Paid In Knight Capital’s Sale… And How Much? ($27.8M)

November 6, 2019
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Knight Capital Sale

Update 11/7/19 9:05 AM: Ready Capital Corporation confirmed this morning that Knight Capital’s total sale price was $27.8M. $10M was in stock. When Ready Capital Corporation acquired Knight Capital last week for $10 million in stock and an undisclosed amount of cash, questions abounded over who directly benefitted from the sale and how much cash […]

Merchant Cash Advance Industry Pioneer David Goldin Launches Lender Capital Partners To Provide Financing To Merchant Cash Advance / Alternative Business Loan Providers

November 5, 2019
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Lenders Capital Partners

White Plains, NY – November 5, 2019 – David Goldin, one of the merchant cash advance industry pioneers who founded one of the first US merchant cash advance providers in 2002, Capify (formerly known as AmeriMerchant), that later expanded to the UK and Australia has partnered with a subsidiary of Basepoint Capital, a seasoned specialty […]

Shopify Capital Originated $141M Of Loans And MCAs In Q3, Says It’s a Meaningful Part Of The Shopify Business

October 29, 2019
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shopify glyph

Shopify Capital, Shopify’s small business funding division, originated $141 million in loans and merchant cash advances last quarter, an 85% increase over Q3 last year. The company has now cumulatively originated $768.9M since it began funding in April 2016. On the earnings call, Shopify COO Harley Finkelstein commented on the company’s recent initiative to fund […]

The FTC Wants To Police Small Business Finance

October 22, 2019
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FTC Police

This story appeared in deBanked’s Sept/Oct 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE On May 23, the Federal Trade Commission launched an investigation into unfair or deceptive practices in the small business financing industry, including by merchant cash advance providers. The agency is looking into, among other things, whether both financial technology […]

The Broker: Funding Businesses The Irish Way

October 10, 2019
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Grand Canal Dock Dublin

I’m sitting in the lobby of The Marker Hotel, a 5-star 7-story property on the edge of Dublin’s Grand Canal Dock. Here in Ireland’s major tech hub, I’m waiting for a self-identified corporate finance broker by the name of Rupert Hogan, the managing director of BusinessLoans.ie. Outside of our email exchanges, I don’t really know […]

deBanked Around The World

September 28, 2019
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Members of the deBanked editorial team returned from Ireland this week. The Republic of Ireland will be the latest in our international series on nonbank finance. Stay tuned for our stories on that. In the meantime, be sure to check out our international coverage of: Canada Canada story series Magazine Feature: Canada’s Alternative Financing Market […]

Prominent Attorney Criminally Charged In 1 Global Capital Mess

September 17, 2019
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Department of Justice

Another individual has been criminally charged in connection with the 1 Global Capital securities case. 74-year-old Jan Douglas Atlas, a securities attorney, was charged with 1 count of securities fraud by the US Attorney in South Florida on Tuesday for authoring opinion letters in 2016 that falsely described that the investments were not securities nor […]

Stripe Ventures Into Merchant Cash Advance Financing

September 6, 2019
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stripe conference room

Stripe, a payments firm lauded as the world’s most valuable private fintech company (at $22.5B), has officially launched a merchant cash advance product. Dozens of news outlets have announced that the company is providing loans, but that’s not all, deBanked has learned. Both loans and merchant cash advances are available. The company’s FAQ page originally […]

A Side-By-Side Look At Small Business Funding Securitization Pools

September 6, 2019
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securitization chart

Several small business funding companies have closed majored securitization deals since 2018 with Kroll Bond Rating Agency rating the transactions. For the most recent transaction with National Funding, Kroll compared each securitized pool side-by-side in a chart. An abbreviated version of it is below: NFAS 2019-1 (National Funding) RFS 2018-1 (Rapid Finance) CRDBL 2018-1 (Credibly) […]

Snapshot On Australia: Growth In The Making

August 30, 2019
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This story appeared in deBanked’s Jul/Aug 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE The Australian alternative lending market continues to gain momentum, bolstered in part by increased awareness, heightened competition and growing dissatisfaction with the status quo. Indeed, there’s been significant growth in the few years since deBanked first wrote about the […]

New York’s COJ Bill Has Been Delivered To The Governor

August 28, 2019
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New York’s infamous Confession of Judgment bill has finally been delivered to the governor for his signature. Although the legislative process offers flexibility to depart from the statutory timelines (as we have witnessed), the governor now presumably has 10 days or less to sign it. Stay tuned. The Confession of Judgment ban is very specific, […]

Gold Rush: Merchant Cash Advances Are Still Hot

August 18, 2019
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gold rush

This story appeared in deBanked’s Jul/Aug 2019 magazine issue. To receive copies in print, SUBSCRIBE FREE Last year, when Kevin Frederick struck out on his own to form his own catering company in Annapolis, the veteran caterer knew that he’d need a food trailer for his business to succeed. He reckoned that he had a […]

Enova’s Small Business Division Garner’s Limelight in Q2

August 16, 2019
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enova

Late last month, Enova released its second quarter report for 2019. Generally bearing positive news, the report asserts that the company is in a good position due to increasing demand, growth in various areas, and reductions in financing costs. Total revenue is up from Q2 2018, rising 13% from $253 million to $286 million, just […]

Alan Heide, CFO Of 1 Global Capital, Hit With Criminal Charge & SEC Violations

August 15, 2019
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handcuffs

Update: Alan Heide has pleaded guilty to one count of conspiracy to commit securities fraud. The former CFO of 1 Global Capital, Alan Heide, was stacked with bad news on Thursday. The US Attorney’s Office for the Southern District of Florida lodged criminal charges against him at the same time the Securities & Exchange Commission […]