Thanks to Expansion Capital Group, South Dakota is On The Alternative Lending Map

September 11, 2018
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Sioux Falls, SD

Sioux Falls, SD Expansion Capital Group (ECG), which secured new financing at the beginning of the month for a total senior debt capacity of nearly $60 million, is based in Sioux Falls. That’s in South Dakota. With most alternative lenders based in New York, Florida or California, ECG is definitely unique geographically. But the company’s […]

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Did Financial Advisors Know About 1st Global Capital?

September 5, 2018
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1st Global Capital Complaint

As word of possible impropriety has come out of 1st Global Capital, those who invested in the company’s MCAs via promissory notes, are wondering if their financial advisors knew what was happening at the company. That is, that the company’s owner, Carl Ruderman, is accused of taking money from investors and often using it for […]

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How 1st Global Capital Enticed Investors

August 29, 2018
Article by:

Hallandale Beach

1 Global Capital LLC (1st Global Capital) used a network of sales agents, including barred brokers, registered and unregistered investment advisers, to find new people to invest in the company’s merchant cash advance deals, according to an August 23 Securities and Exchange Commission (SEC) complaint unsealed today. The complaint said that through April 2018, 1st […]

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1st Global Capital Charged With Fraud by SEC

August 29, 2018
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SEC Building

Securities & Exchange Commission building The Securities & Exchange Commission unsealed a 10-count complaint against 1 Global Capital LLC (“1st Global Capital”), its owner Carl Ruderman, and related parties on Wednesday. The South Florida firm “fraudulently raised more than $287 million from more than 3,400 investors to fund its business offering short-term financing to small […]

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The Google Battle for Lending & SMB Finance Keywords Revisited

August 29, 2018
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google search

When it comes to Google’s organic search for major keywords, companies like Nerdwallet and Fundera still dominate. A few players, however, have gained or lost significant ground since last year. The Small Business Administration relinquished its place on the first page for words like “business loan” and “business line of credit” while PayPal and Credit […]

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1st Global Capital’s ACH Processor Wants Out

August 22, 2018
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1st global capital ach processor

1st Global Capital’s ACH processor doesn’t want to process payments for them anymore, according to documents filed in the bankruptcy case. It’s a crucial part of 1st Global’s business because it’s how they debit the bank accounts of their customers. South Dakota-based First Premier Bank, who executes their ACHs, has asked the court to allow […]

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Grooming The Best Sales Reps

August 22, 2018
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panel at broker fair

This story appeared in deBanked’s Jul/Aug 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE The best sales reps have a lot in common – they’re smart, honest, likable, well-organized, thick-skinned and hungry for success. They navigate the difficult early days of their careers in the alternative small-business funding community by persevering despite long […]

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UCS-BizBloom Deal Could Be First of Many

August 21, 2018
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Jared Weitz deBanked Magazine Cover United Capital Source

United Capital Source (UCS) was chosen to service BizBloom’s book of business, according to UCS CEO Jared Weitz. After BizBloom’s president, Thomas Costa, stepped down, the company’s main investor assumed control and arranged for the company’s portfolio of merchants to be serviced by UCS. Weitz told deBanked that he was familiar with the BizBloom investor […]

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The 2018 Top Small Business Funders By Revenue

August 16, 2018
Article by:

topfunders-18

The below chart ranks several companies in the non-bank small business financing space by revenue over the last 5 years. The data is primarily drawn from reports submitted to the Inc. 5000 list, public earnings statements, or published media reports. It is not comprehensive. Companies for which no data is publicly available are excluded. Want […]

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Underwriting 101—Veteran Funders Share Tools of the Trade

August 12, 2018
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Underwriting Panel

This story appeared in deBanked’s Jul/Aug 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE For brokers, funding partnerships are critical to success. But making the most of these connections can be elusive. “Transparency, efficiency and a thorough scrubbing on the front end can help the whole process,” says William Gallagher, president of CFG […]

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