In New Jersey, Yellowstone Capital Buoys Volunteer Ambulance Organization
October 19, 2018
Hatzalah of Union County, New Jersey, a volunteer ambulance organization, has saved hundreds of lives thanks to its volunteer-only team and its three ambulances, all funded by donations from Yellowstone Capital CEO Isaac Stern and the company’s employees over the past seven years. Total donations from Yellowstone Capital, including from Stern, have exceeded $300,000. “[Stern] […]
View Post“Out Of State” MCA Funder Not Precluded From Entering COJs in New York, Court Rules
October 18, 2018
In May 2017, Funding Metrics (FM), a small business funding provider, entered a signed Confession of Judgment (COJ) in Westchester County, NY against a California-based customer. The Court issued a judgment a mere five days later. That should have been the end of it, but on July 26th, the customer hired law firm White & […]
View PostNYIC – IFA Northeast – AFBA – deBanked Conference Recap
October 17, 2018
Panel from left to right: Lindsey Rohan, Platinum Rapid Funding Group & the AFBA | Chris Murray, Stein Adler Dabah & Zelkowitz LLP | Robert Zadek, Buchalter | Richard Simon, Mandelbaum Salsburg Yesterday, the New York Institute of Credit (NYIC) hosted a conference in Manhattan with attendees from several segments of the commercial finance industry, […]
The Broker: How Andy Savarese Changes Collars and Closes Deals
October 12, 2018
Title: I’m the Managing Partner at JustiFi Capital, a brokerage in Farmingdale, Long Island. I started it September 2017 with my cousin, who’s the owner and my best friend. We do mostly MCA, but also some term loans. His schedule: I have a part-time/full-time job in the mornings. I work in sanitation for the town […]
Yoel Wagschal Becomes Last Chance Funding’s CFO
October 10, 2018
Above: Yoel Wagschal speaks at Broker Fair in Brooklyn, NY | May 14, 2018 Yoel Wagschal, an accountant who specializes in servicing MCA funding companies, told deBanked today that he will now be the CFO for Last Chance Funding (LCF), which has been one of his clients for about five years. Wagschal said he will […]
The Largest Merchant Cash Advance in History
September 28, 2018
How would you like to be the funder to do a $40 million MCA transaction? According to the Securities & Exchange Commission, a deal of such magnitude was one of the many negligent acts that 1st Global Capital CEO Carl Ruderman did with investor money. Though the SEC refers to the merchant as an auto […]
The Broker: How Elana Kemp Turns Values into Value
September 26, 2018
Title: Broker at Fundomate, a commercial finance brokerage in Los Angeles. Background in business: I started four years ago when I was living in Israel and I was working American hours. It was tough because I have four kids…A [non business] opportunity brought me to LA where my dad lives and where I’m from originally. […]
Was 1st Global Capital a Ponzi Scheme?
September 19, 2018
1st Global Capital owner Carl Ruderman denied that his company was a ponzi scheme during a videotaped deposition with the SEC late last month. He invoked the fifth amendment to followup questions regarding the use of investor funds to pay old investors, operating expenses, and himself. Q. Was 1 Global Capital a Ponzi scheme? A. […]
Dress for Sales at deBanked CONNECT – San Diego
September 17, 2018
The first 100 salespeople to check in to deBanked CONNECT in San Diego on Thursday, October 4th will receive a FREE shirt to help them close more deals 24/7. It says I Can Fund Your Business on the front and Ask Me How on the back. “There is no mention of deBanked anywhere on the […]
1st Global Capital’s Activities Spilled into Cryptocurrency and ICOs
September 14, 2018
Curious details are emerging in the wake of the 1st Global Capital bankruptcy and subsequent SEC charges. Among them is that $161,000 of company funds were used to purchase cryptocurrency. Many of those purchases were made in February of this year for a total of $92,492. The cryptocurrency market has slumped since then. Bitcoin, for […]
