When to Hire a Collection Company

June 19, 2018
Article by:

picking up the phone

Christine Chang, CEO, 6th Avenue Capital There is no rule telling a funding company at what point it should seek the help of a collection company when a client defaults on an agreement. That’s entirely up to the funding company. Some have in-house collection teams while others don’t and some go slower to approach a […]

View Post

Woman Arrested in Connection With Finance Company Data Theft

June 19, 2018
Article by:

Arrested Data Theft

A woman was arrested in the Bronx this morning and charged with felony computer-related theft. The individual, whose name deBanked is not releasing until more information is known, was reportedly stealing customer data from Yellowstone Capital despite not being employed there. The photo shows police officers escorting her out from her home. She is the […]

View Post

Collector Says “No” to Debt Settlement Companies That Want His Data

June 19, 2018
Article by:

Shawn Smith - Dedicated Commercial Recovery

Debt settlement companies often find their leads by scouring through UCC filings, or publicly available forms that a creditor files to give notice that it may have rights to the property of a debtor. In the case of a small business, perhaps the refrigerators in a restaurant. “[Looking through UCC filings] is a way of […]

View Post

It’s Back to Business For Alternative Funding in Puerto Rico

June 15, 2018
Article by:

Puerto Rico

This story appeared in deBanked’s May/June 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE

View Post

Lending Express Opens Office in Silicon Valley

June 13, 2018
Article by:

Eden Amirav

Tel Aviv-based Lending Express announced its entrance into the U.S. market yesterday. It opened an office in San Matteo, CA and has officially appointed Moshe Kazimirsky as VP of Strategic Partnerships and Business Development to support the new West Coast office. “After the immense success we’ve had in the Australian market, we knew that our […]

View Post

Settling Up: Debt Settlement Companies Paid Yellowstone Capital and Everest Business Funding a Half Million Dollars to End Lawsuit

June 12, 2018
Article by:

money exchange

A group of debt settlement companies and ISOs have entered into a settlement they’re unlikely to forget. A lawsuit that accused Corporate Bailout, Protection Legal Group, Mark Mancino, Michael Hamill and others of tortious interference with merchant cash advance contracts has led to a settlement in which the defendants agreed to pay Yellowstone Capital and […]

View Post

New York Institute of Credit Celebrates 100 Years and Honors Harvey Gross

June 12, 2018
Article by:

New York Institute of Credit Speech

About 300 people gathered underneath the soaring ceilings of Guastavino’s ballroom in Manhattan last night to celebrate the 100th anniversary of the New York Institute of Credit (NYIC). Most attendees were members of the association, which provides networking opportunities and education to a myriad of constituents, including factors, financial advisors, lawyers, investors and accountants. “[NYIC] […]

View Post

Second Annual Alternative Finance Bar Association Conference Draws Lawyers from Afar

June 11, 2018
Article by:

AFBA Conference Kate - Pat - Brian

Attorneys who represent alternative finance companies congregated in New York on Friday for the second annual conference of the Alternative Finance Bar Association (AFBA.) They came for a day of learning about the latest legal developments pertaining to alternative finance, and MCA in particular. Seminars at the conference had names like: “Credit Facilities 101: What […]

View Post

An Inside Look at Strategic Funding’s Portfolio

June 10, 2018
Article by:

credit grade

A Kroll Bond Rating Agency report reveals interesting details about Strategic Funding Source’s $105 million securitization and also their business. Here are a few main takeaways: Pool breakdown 60% MCA 40% Loans Average original receivable balance per merchant: $40,705 Weighted Average FICO Score: 649 Weighted Average RTR Multiple: 1.35 Weighted Average Time in Business: 12.5 […]

View Post

US Business Funding Will Retain Name & Special Sauce in Wake of Fora Deal

June 8, 2018
Article by:

Jared Feldman

Fora Financial’s announcement yesterday that it acquired a sizable stake in US Business Funding (USBF) will create one of the “largest, broadest reaching direct sales organizations in the small business alternative lending space,” the company said in a statement. USBF is a direct sales and marketing company of about 40 to 50 people. Fora Financial […]

View Post