For ISOs Only — How To Develop Your Factoring Brokerage Business (Part 2)

December 12, 2019
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Read Part 1 Read Part 3 In Part 2, we’re going to focus on 3 major areas: (1) What is Factoring and How Does it Work? (2) What Are the Costs? (3) How Do You Qualify? We’re also going to touch on HOW TO find factoring funders. What is Factoring and How Does it Work? […]

Merchant Growth Partners with goeasy to Provide Funding via Physical Branches

December 11, 2019
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This month Merchant Growth, the Vancouver-based alternative finance company, announced its partnership with goeasy Ltd. that will see Merchant Growth’s services being offered in goeasy branches throughout Canada. Beginning with British Columbia, Alberta, and Saskatchewan in 2019, Merchant Growth aims to have expanded to the remaining provinces in the first quarter of 2020. Under the […]

Investors Receive Recovery Checks in 1 Global Capital Case

December 9, 2019
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For all the noise surrounding the collapse of 1 Global Capital, investors recently recovered nearly $112 million, equating to about 40 cents on the dollar so far. “We continue to pursue collections where we can and legal actions where we can, and we’re working to see what else we can garner for the estate,” 1 […]

The Broker: How Gerald Watson Mixes Factoring with MCAs

December 3, 2019
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Role? I’m the owner of The Watson Group, a factoring broker company.   How did you end up in the industry? I got started in what I call the contract financing industry about 35 years ago, kind of by accident. I had spent years working with a large management consulting company in Boston and we […]

Broker Fair / Black Friday ONE-DAY ONLY Special Price

November 28, 2019
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broker fair 2020

Broker Fair Returns to New York City on May 18, 2020. Take advantage of this special ONE-DAY only discount code and get 29% OFF THE EARLY BIRD PRICE. This incredible deal ends at 11:59pm EST on 11/29/19. Promo code: brokerfair29 Register here Broker Fair’s two previous annual events sold out in advance. Hundreds of brokers […]

Flender Makes BIG Mark in Ireland’s SME Lending Market

November 26, 2019
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Dublin Ireland

Ireland can seem like a small place, so much so that on my way to meeting with Colin Canny, Flender’s Head of Partnerships, I quite literally bumped into Flender’s co-founder & CEO Kristjan Koik who was walking through Dublin’s Silicon Docks. I recognized Koik from the who’s who catalogue of executives I had compiled before […]

Merchant Cash Advance Valuation Dynamics

November 20, 2019
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mca curve 1

Understanding the differences in cashflow dynamics between small business loans and MCAs is crucial for investors when valuing these alternative investments. A small business loan usually has familiar terms such as a principal amount that is paid back with interest over time, typically with a monthly payment schedule. An MCA agreement does not have these […]

Merchant Infamous For Safari-Themed Home, Has Died

November 18, 2019
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African Queen

The saga of Michael Willhoit has come to an end. deBanked wrote about Willhoit in December 2018 when we learned he defaulted on nearly half a million dollars in merchant cash advance transactions and was sued by banks over $4.5 million in bad loan deals. This past June he was also indicted on 36 counts […]

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

November 17, 2019
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$100

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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made in china

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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Rep Nydia Velázquez and Michael Bloomberg

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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Third Party Collections

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 […]